January 31,2042 ?

[KNWVIKING]

Silly question that I really don't need an answer to for about another 40 yrs but ask now.

DVC contract expires 1-31-42. I have an Oct use year.Do I have until Oct 2042 to use all my points, or till 1-31-42 ? And if the date is 1-31-42, won't that mean everybody will be trying to book a very limited number of openings ?

[dtheboys]

I'll be dead, so that will be the kids problem!!!

I sure wish that I could be around for the last year!!:(

[DVCajun]

Geez, I'm only about 10 years younger than you and *I* sure plan to be around then!!! :D

[Richyams]

I spoke to someone about that a long time ago. They said that its over 1/31/42. They will probably relax borrowing rules and tighten banking rules in the last two or three years.....then he added that it would all be moot if the begin to sell extensions or new contracts.

[Caskbill]

I'll bet even Disney doesn't know for sure. A lot can change in the next 39 years, 8-months.

I would hope the use years would still apply. Namely an August UY would get their 2041 points on 8-1-41, and have until 7-31-42 to use them. Let's face it. If everyone had to use all their points by 1-31-42, Disney's not going to be in any kind of position to fill all those vacant resorts with cash ressies beginning on 2-1-42. If it is an absolute dead-end on Jan 31, 2042, it could be a nightmare with everyone trying to book their last allotment of points.

However, since a lot of people borrow points to the hilt, there may be quite a few members who have used up all their points by 2040, so maybe 2041 won't be so bad after all.

Remember that no one actually will receive any 2042 points. Actually the last year we get points is for 2041.

THE END IS NEARER than you thought....:(


However, I can't end this post on a sad note, so look at it this way. We still have 21,374,500 minutes worth of DVC.
:)

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[jmminarik]

Hmmm.. a Y2042 scare.....I wonder if this will engender end of the World (wdw of course) apocolyptic scares as all of the DVC computers go bonkers trying to make ressies on 2/1/42, the clown at Luna Park suddenly stops gushing water, the railroad trains derail at VWL, HH actually gets sold out, the security gates fail at VB and all the locals and shoobies swarm over the place toppling the lighthouse slide, SAB opens to all resort guests,VDI (or what ever it will be called) starts teaching pasta makng 101 again, and OKW still gets no respect. :)

-joe,
sick of writing documentation so simple even a manager could understand it.

[ralphd]

This has been a subject of discussion in the past. There isn't a known document that tells us how the reservations will be handled in years 2041 and/or2042.
There has been speculation that contract extensions will be offered to members once (and if) DVC II is born. That will solve the 2042 problem for those that extend their membership, but not for the members that choose not to extend.
Dean said a lottery may be used to allocate the final period of available time.
Still an interesting subject.

ralphd:) :) :) :)

[ralphd]

[QUOTE]Originally posted by jmminarik
[B] and OKW still gets no respect. :)

-joe,

Don't get Rich stirred up!!!

ralphd:cool:

[gmboy95]

I wonder if the "home" will let me out for a week each year to travel to disney.....hey, do you think all the rooms will be equpped with hospital beds by then:jester: :jester: :jester:

[Dean]

Actually what I said was that I didn't expect an extension and that there was no way everyone could get and use every point the last year or 2. Lottery's, proration or throwing us to the wolves to compete with each other seem the most likely options.

[Bigcat]

I want to know what happens to all the money we will be paying into the Reserve Funds every year?

[PamOKW]

I want to know what happens to all the money we will be paying into the Reserve Funds every year?

If they plan it right, it should be spent by the time we end the contract (reducing the amount we pay if there looks like an excess).

[TnRobin]

In line with Caskbill's final comments - that means I have to figure out how to spend 9,165 points.

[adamak]

I'm more worried about the 11 months window prior to 1-31-42. Can you imagine the call volume for everyone who tried to booked and use up all their points by that day?

I sure hope to live till that moment. :)

[PKS44]

I asked MS this very question and they punted...said to ask my guide...which I never did because I don't believe they know because I don't think anyone knows...the points are supposed to be given to you every year, but they do not promise reservations...it is all based on availability...therefore, I suspect many will try to use up their points in the years before to be sure that they don't miss out... this will free up availability later on. They are allowed to suspend banking or borrowing at anytime and I suspect there will be no banking allowed in the last few years...

Paul

[Werner Weiss]

Keep in mind that DVC points are nothing but an administrative expression of your real estate lease ownership interest. The points represent how much usage you're entiltled to each 12-month period.

You'll be entitled to fewer points for that last partial year of usage. After all, it won't be a 12-month period at that point. Depending how your use year falls, you'll get some corresponding percentage of your usual points.

In theory, it would be the same as any other year. The total points for all owners will translate directly to the total capacity.

But, in fact, due to borrowng and banking, it will be a real challenge to have everything come out evenly in the end.

[EROS]

REPENT........THE END IS NEAR:rolleyes: :rolleyes:

[DVCajun]

I've never thought of this issue before, but it seems to me that Disney will honor your remaining points, even if you have to use them after the "final date of DVC." I would think that you wouldn't *accrue* points after that date, but if you still have points remaining in your account that you can use them. Just my two cents, based on how Disney operates. I definitely don't see us being "thrown to the wolves."

[Dean]

Originally posted by DVCajun
I've never thought of this issue before, but it seems to me that Disney will honor your remaining points, even if you have to use them after the "final date of DVC." I would think that you wouldn't *accrue* points after that date, but if you still have points remaining in your account that you can use them. Just my two cents, based on how Disney operates. I definitely don't see us being "thrown to the wolves." I would be dramatically surprised if they don't close the doors to DVC members on the expiration date. Frankly, I can't even imagine they would extend the usage out of the goodness of their heart It would be no problem to work out a plan where members could use all of their points if they wanted, they'd just have less points that last couple of years.

They could extend the entire plan if they wanted and I would expect that to be a possiblity if EP has a later expiration date. We would still have the same problem at the end whatever expiration date ends up being in place.

[Granny]

caskbill....I'm sure it's temporary, but I love the countdown clock you have marking the end of DVC! Very funny :p

[joepoe]

Originally posted by KNWVIKING
...
DVC contract expires 1-31-42. I have an Oct use year.Do I have until Oct 2042 to use all my points, or till 1-31-42 ? And if the date is 1-31-42, won't that mean everybody will be trying to book a very limited number of openings ?

I will be drooling into my refillable mug at age 91, and my daughters will be putting a Mickey bib on me and feeding me baby food.

[ralphd]

Originally posted by Dean

They could extend the entire plan if they wanted and I would expect that to be a possiblity if EP has a later expiration date. We would still have the same problem at the end whatever expiration date ends up being in place.

I think this is where we left off on the last thread on this subject. Think we are waiting for the new DVC that has a new expiration date.
That will also be the time when they will (?) consider an extension for the existing members. Dean - note the question mark. If the extension is offered, it would be for a set number of years at a set price per point. It could also have a limited offer period.
Will EP be the first with a new expiration date?

ralphd
:D

[Dean]

Originally posted by ralphd


I think this is where we left off on the last thread on this subject. Think we are waiting for the new DVC that has a new expiration date.
That will also be the time when they will (?) consider an extension for the existing members. Dean - note the question mark. If the extension is offered, it would be for a set number of years at a set price per point. It could also have a limited offer period.
Will EP be the first with a new expiration date?

ralphd
:D True, we did hash this pretty good but obviously every one on this thread wasn't in on that one. If EP does happen, I suspect it will have a different ending date but who knows. I doubt even DVD knows for certain at this point and we're only talking 3-4 years, hopefully. Whether they'll offer an extension depends on many factors. I'm sure it would be for a price and they'd need to be certain that most members would take advantage of it for it to be successful and worth them fooling with.

Regardless, even with an extention, we and DVC would have the same problem in discussion now. How to wrap it up with people owning at different resorts, different amount of points and most importantly, different use years. I don't think there's a way out for DVC that will make most people happy. Some are going to think they're entitled to all of their points the last year even if the use year is late and there's only a couple of months remaining. Others will be unhappy that they can't make the reservations they want. It sure would make things easier if they extended things for a year or 2 to wind down but I personally don't see Disney being that easy and flexible, either now or then.

The best part is we have another 30 or more years to rehash this issue.

[KNWVIKING]

What are the chances DI will have a different end date. If it opens in '04 at the rumored $90.00 + pp, is 37-38 yr justifiable ?

It seems all DVC had to do is give people 12 months from their use yr. That way it just wraps up naturally. Let 2042 be everyones last trip home.

[DVCajun]

It seems all DVC had to do is give people 12 months from their use yr. That way it just wraps up naturally. Let 2042 be everyones last trip home.

My point exactly. I don't know why they wouldn't do this. After all, we don't accrue points through the year, we get them all in one lump, bang! Whether we choose to use *all* of our points that week or wait until the last week of our use year is up to us. I don't see why that year would be any different.

[mikek]

Originally posted by KNWVIKING
What are the chances DI will have a different end date. If it opens in '04 at the rumored $90.00 + pp, is 37-38 yr justifiable ?


it all depends on supply and demand. I would imagine a smaller place isnt going to be the one that they roll back the date on. I'd guess they keep the existing date, jack the price, and than if thingsd dont sell as fast as they want they could give incentives to effectively reduce the cost without ever lowering the MSRP.

of course just my opinion, but here in the north east real estate is still spiralling up and all the pundits say there isnt an end in site for a while. Heard on the radio just this morning average home cost jumped by TWENTY PERCENT last year alon in the greater NYC area. Not sure if the rest of the country is like that, and not really sure if people view dvc as real estate or prepaid vacations, but it shows a 5-10% price increase in a couple of years along with a 5% reduction in length might nbot be so unrealistic. Again JMHO.

[Dean]

Originally posted by DVCajun


My point exactly. I don't know why they wouldn't do this. After all, we don't accrue points through the year, we get them all in one lump, bang! Whether we choose to use *all* of our points that week or wait until the last week of our use year is up to us. I don't see why that year would be any different. The difference is that to keep the resort open and MS functional for additional 11 months or so will cost millions of dollars as well as delaying any plans that Disney has for that property at the time. Don't count on getting a full allotment of points the last 2 years.

[KNWVIKING]

Dean,

Why wouldn't we be responsible for our last use year dues. I also anticipate DVC will begin the process of reselling my points to the next generation so there should be no interuption dues or income to DVD.

[ralphd]

The contract expiration date is January 31, 2042. Legally, as Dean said, they will have to agree to give anything after that date. There must be an incentive for them to grant an (11 month) extension.
They would collect an additional year of annual fees from the members who wish to extend, but the extension would have to be voluntary.
The primary incentive for selling contract extensions, will be a DVC II resort with an expiration date 50 years (assumption) after the new resort opens.

ralphd:D

[wdeversole]

How about in 2041 everyone gets a prorated allotment of points?

Feb - all of their points
Mar - 11/12 of their points
etc.
Dec - 2/12 of their points


Although I'm sure people with later use years would have a problem with this setup.

[DVCajun]

That's the thing-- it seems like it's going to work out fine for some use years, while other use years are going to get screwed! Unless they borrow, of course, which is the only safe route.

[Dean]

Originally posted by KNWVIKING
Dean,

Why wouldn't we be responsible for our last use year dues. I also anticipate DVC will begin the process of reselling my points to the next generation so there should be no interuption dues or income to DVD. I don't know what Disney's plans are or will be for that property in 2042. I can bet you they will not be putting those plans on hold for an extra year for this purpose. Yes, the dues paid will be in proportion to the point you get.

There are other proration options that would be more fair to those with later use years but I think it is bestter talking about generalities at this point.