We had our heart set on staying at the Wilderness Lodge in 2008. In June, 2007, I called Disney travel and, of course, the 2008 rates weren't out yet. So, I booked a room only reservation at the 2007 rates. I paid a deposit equal to one night's stay. If I had kept the room only reservation, the rates would have been adjusted once the 2008 rates came out.
On August 15, 2007, the package rates came out and I called to change the room only reservation to a package. They don't actually "adjust" or "change" the room only reservation. They actually cancel the reservation and refund your one night deposit back to you. This took about 5 minutes for the castmember to do.
The refund is not automatic and it is not applied to the room only reservation. I was told that my refund would be received in a week to two weeks time. I received mine in 6 days.
They then turn around and book a package vacation for you. They booked the package in about 5 minutes since they already had all of my information. You will be required to make a deposit of $200.00. This can be done at the same time you are booking the package or you can make the deposit anytime in the next fourteen days. (I immediately made mine 'cause you never know what might happen in the fourteen day time period)
With a package, you can make as many payments as you want so long as the payment is a minimum of $20.00. I have made over 40 payments on our upcoming trip! Payments can be made online or over the telephone. It's like having a Disney vacation on layaway!