?? About banking borrowed points

[WDWalways]

I am considering a resale since it is taking way too long for NY to get approved to buy into BCV and the one I am considering has the full amount of points avail for '02 (use year Oct. so as of Oct 1st all points avail) and it also states that they have borrowed points from '03 plus points from '03 are in "reservation status" -- what does this mean??

 

[RobDoc]

"Reservation Status" means that those points were used to make a non-DVC reservation which was later cancelled. Those points may be used for another non-DVC reservation, but NOT for a DVC resort. They may not be banked and must be used before the end of the current use year.

Borrowed points are those which were taken from the '03 use year for a reservation in the 02 use year. They may not be returned to their original use year either. It sounds as though a reservation was made and then cancelled- as points cannot be borrowed without using them to make a reservation.

Depending on the circumstances, a resale which has borrowed from the next use year may not be a good deal and you will still pay dues on those borrwed points in January. Just be sure to do the math on that contract.

Good luck!

 

[WDWalways]

Regarding the maint fees -- I agree that since points were borrowed from '03 and I still have to pay maint fees on all points for '03 starting Jan. that it may not be a good deal BUT what if they don't ask me to pay any maint fees for '02 and all points are avail for '02 PLUS the "reservation status" points though I don't know what I would use them for if they are not good for a DVC resort --- are they avail to use for a Disney resort that's non-DVC???

 

[CarolMN]

Originally posted by WDWalways
....(snip).....PLUS the "reservation status" points though I don't know what I would use them for if they are not good for a DVC resort --- are they avail to use for a Disney resort that's non-DVC???

Yes, you can use them for almost all of the non-DVC WDW resorts (can't use at the value resorts or at BC or WL or BWI) or the DCL, or DLP or any of the 3 the Disneyland Hotels.

 

[WDWalways]

Originally posted by CarolMN


Yes, you can use them for almost all of the non-DVC WDW resorts (can't use at the value resorts or at BC or WL or BWI) or the DCL, or DLP or any of the 3 the Disneyland Hotels.

OK -- so this is good -- I would just use them for another WDW resort other than what's listed above. Then that's ok.

 

[CarolMN]

FWIW, many DVC members do not like to use their points for the non-DVC WDW resorts. Point requirements for the non-DVC resorts are high - higher than those for DVC accomodations. In your situation, many Members would rent the points and then use the cash for their vacation. The option of using points for a non-DVC resort is a nice perk, though. Opinions vary!

You mentioned that the contract has all of it's 2002 use year points available. You can bank those into the 2003 use year as long as they are not in reservations status. If you did that, you would have some points to use during your 2003 use year (to make up for the 2003 points that were borrowed into the 2002 use year). Just another complication/option for you to consider.

Only you can do the math to determine if the resale is a good deal for you. IMHO, borrowed points and points in reservation status complicate things. Personally, I would not pay as much for a contract like this as I would for one without borrowed points and points in reservation status.

If it would help your decision, I could send you a file that contains the 2003 point requirements for the non-DVC WDW resorts. Send me a PM with your email address if you would like me to send the file - it's in .pdf format.

 

[Dean]

You have to look at the overall picture to decide if this is right for you. Don't let the points complications cloud something that might be a good deal for the long term. Value depends on the specifics, number of points, resort and whether you can use the points that are borrowed and in reservation status. You can also use a double secret once in a lifetime banking option on those points. Whether you can do that including the reservation points is in question. Unless it's a lot of points and you can't use them, I wouldn't go this route though.

The seller may expect the full fees this year though I don't think any fees for 2002 would be reasonable in this situation as you will be paying for 9 months of the 2002 fees come Jan of 2003 as well as paying the fees on the 2003 points which have been tainted.

Still don't let the short term complications cloud the picture if it's a good deal overall. Good luck.

 

[WDWalways]

Originally posted by Dean
The seller may expect the full fees this year though I don't think any fees for 2002 would be reasonable in this situation as you will be paying for 9 months of the 2002 fees come Jan of 2003 as well as paying the fees on the 2003 points which have been tainted.
Still don't let the short term complications cloud the picture if it's a good deal overall. Good luck.

Luckily, I do NOT have to pay any maint fees for this year -- I would start paying in Jan '03. It's only $66.00 a point so I think it's a very good deal -- I would have bought from Disney directly but waiting for NY to get approved for the BCV is taking way too long for me -- I plan on adding on at either BCV or WLV at a later date through Disney directly though. The real estate agent told me that some of the points can be banked which makes up for the loss of '03 points a little bit and the points I have right now must be used by July 31 '03 which is fine -- I have a whole year -- and the "reservation status" points are also able to be used by July 31 '03 so I'm sure I can figure out what to do with those also. Hopefully it will all work out.