??? about renting points

[Mjasp]

I am NOT a DVC member. But I see you can rent points from owners. Can anyone rent these points OR do you have to be a DVC owner who needs more points?

Also, When I put in OKW from 11/25/02-11/30/02 in the calculator it stated I needed 58 points. If I purchased points at $9 a point it comes out to $522 for 5 nights. Is this correct OR am I missing something. Seems too inexpensive to be true.

Thanks for your knowledge.

Joanna

 

[DougL]

Joanna,
Anyone can rent points. The going rate is somewhere between $9-$11 a point. I'm in the middle at $10. Please email me at dleininger@byu.net if interested.
Thanks,
Doug

 

[Mjasp]

Now I'm really baffled. Went to FAQ on the rent/trade site. I just put in OKW in the calculator for 12/29/02-01/03/03 and it was 61 points needed for 5 nights. 61x$9 = $549. If thats the case why would people buy the points for $75 a point to join DVC.

I know I sound stupid here, but it doesn't make sense to me. So I am waiting for someone to pick up on what I'm missing. And I KNOW I'm missing something.

 

[PamOKW]

Something is off in the number of points (just slightly) for a studio at OKW

Nov. 25 - 8 points
Nov. 26 - 8 points
Nov. 27 - 11 points
Nov. 28 - 11 points
Nov. 29 - 27 points
Checkout on Nov. 30 Total of 65 points

Your post about why buy vs. rent just came up. The $75 per point is the total cost for the lifetime use of the points. You continue to pay dues every year but you don't "buy" the points again.

Renting points is a purely personal transaction and you are at the mercy of finding someone who is willing to make the reservation for you and sell the points. You have to negotiate a deal with that person including what will happen if you need to cancel. Over time, who knows what the "going rate" for rentals may be. Renting is a gamble.....owning is a sure thing.

 

[jmhillrph]

Just adding on to PamOKW-- since the points renew yearly for ~ 40 more years, on a yearly basis that $75 point costs a little less than $2 then add on the yearly maintenance of $3.xx (varies with home resort) and the cost for member per point per year is a bit under $6 so he can rent for $9 or whatever and yield a bit of a profit. Not enough to justify an investment but usually enough to make for a win-win situation for renter and rentee.

 

[roadtripper]

I just want to jump in here to caution you about the "hidden" cost of renting points. If you're anything like us, you'll rent points from a perfectly lovely DVC member, spend a lovely time at OKW, and decide that you MUST become DVC members! We signed on to BCV villas while we took our once-in-a-lifetime trip with the kids in Feb. Looks like we get to have 40 more years of once-in-a-lifetimes! So bring your credit card, and good luck--

PS-- there was absolutely no pressure from anyone to go to an information session, unless you count my husband pressuring me!