How does the Disney Vacation Club work?

My friend's Mom is a member and my friend said we can use their points when we all take a trip ( me and 3-4 other friends). How does the club work? Like if we use their points do we pay anything or is everything pre-paid? What hotels can we stay at with the points or are they like assigned to one time-share? I'm so confused on how this works and my friend tried explaining it but I still got confused lol. ThankssHow does the Disney Vacation Club work?
The Disney Vacation Club is KIND OF (but not really) like a timeshare. With a typical timeshare, you purchase a real estate interest and you're locked into the same week in the same unit every year (unless you spend extra money to trade it through RCI or something like that).



With DVC, you purchase a limited time real estate interest, which gives you a set number of "points" each year. You can use your points to get villa-type accommodations at any of the DVC resorts, subject to availability. You can also "bank" half your points from the year before, and "borrow" half your points from next year, so that if you're wanting that three bedroom grand villa for the extended family, you can get it.



It is interesting to note that while other "deeded interest" offerings are owned by the buyer in perpetuity, the Disney Vacation Club is actually a lease. In 2047, the deeded interest that you've purchased reverts back to the Walt Disney Company. I'm not speculating whether that's good or bad, but merely that it's different from the other deeded interest things I've seen.



Your points can also be used towards "regular" Disney accommodations, Disney Cruise Line, and for a nominal fee, you can exchange your points for any other timeshare through Interval International or RCI.