challenging question for points pros

[stillnotsure]

I just purchased 150 points at Boardwalk with a September use year. It comes with 150 points for this year, but they have to be used in some way by Aug. 31.

As I see it, my options are:
1.) Go back to Disney again myself (I just got back this week though, so, much as I loved it, I don't want to go again yet)
2.) Bank 25 percent of the points because it's June already, and lose the other 75 percent of the points
3.) Rent the 150 (or bank 25 percent and sell 75 percent) online to someone who is planning to vacation this summer (but then if they back out, I'm screwed, right?)
4.) Deposit the points into Interval International for use in the next two years at another timeshare. However, since I am depositing them with less than 60 days of use time (i have to wait till my closing date of Aug. 2 for this option), I will have to make a reservation at one of the time shares only up to two months before I actually take the trip.

My question is this: Which is the best option? Has anyone tried going to one of the other Interval International timeshares with only 60 days notice? Are any available? Is there much choice? I would really like to go to Las Vegas or to Arizona...I'm told if nothing is available to my liking within the next two years from II, I'll lose those points. What do you experts suggest? Should I just rent the points online and forget the Interval International option? (I can't do concierge collection at all, again because I won't have a 60 day window to make the reservation in at the end of my use year.)

Also, just out of curiousity, I bought my Boardwalk points directly from Disney this week. When I went to a timeshare session and told them I preferred to buy a Disney Boardwalk resale instead of SSR points, they said they had BW points available for some reason. I bought 150 points at $89 a point and they threw in the 150 freebie points for this year. (I had to get two different contracts, one for 100 points, the other for 50 points.) I know I paid more than I would have online, but do you think this was an okay deal? They also gave me the use year I wanted. I thought it was worth it to avoid the hassle of resale and ROFR...???

Thanks!

 

[DisneyBB]

You could ask them if you can use "your one time banking option" This means that they can ignore the deadlines for banking and bank all your points anyway. I am not sure if this is still being done, but it is worth asking your guide. I have heard of other people using it and since you have only just bought then they should let you do it.

If other people know otherwise then please correct me.

 

[tjkraz]

3.) Rent the 150 (or bank 25 percent and sell 75 percent) online to someone who is planning to vacation this summer (but then if they back out, I'm screwed, right?)

Rental agreements are typically binding. Since you would be renting on such short notice, my recommendation would be to get 100% of the payment immediately after the reservation is made (or some % in advance if you wish with the balance due immediately after booking confirmation is provided.)

Either state up front that the reservation is 100% non-refundable, or you could make some accommodation for granting a partial refund if you are able to re-rent the points if the first party is forced to cancel. Since you are so close to the end of the UY, I think the odds of you being able to re-rent are slim.

Of the options you presented, I'd suggest trying to rent 75% of them before the end of the month, and then bank as many as you can from the balance.

...they said they had BW points available for some reason. I bought 150 points at $89 a point and they threw in the 150 freebie points for this year.

DVC often picks-up contracts at the older resorts by exercising its Right of First Refusal on contract sales. Honestly it's just a marketing gimmick to call the first year's points "free". Buyers at an existing resort have always (in recent memory) received points for their current Use Year upon purchase.

Congrats on your purchase!

 

[Y-ASK]

You could also offer them as a transfer. Put up a thread on the rent/trade board and just say for tranfer only at $8.00 per point and see who jumps on them. If you have an Oct., Nov., or Dec. use year you should be able to bank 50% and that might work out for some folks. I'd make an offer but I'm going to do a re-sale or add-on at this point in time.

Y-ASK

 

[Tamar]

One more option: find a family member or friend that could use a trip to Disney, and give them a sweet deal on the points (or just give them the points).

 

[TammyAlphabet]

WELCOME HOME!!!

Now as for the points, call your guide and ask them if there is any way that they can ask their manager to give you permission, just this once, to bank the points. This might happen.

If not, you could rent them on the Rent and Trade board pretty quickly if you want. But bank the 25 percent quickly.

There is the idea about family and a trip for them, I think that is an excellent idea.

Thirdly, an organization call Give the Kids the World sends kids to Disney and they could probably use the donation and it might be deductible for you.

Lastly, I purchased BWV the same way this year and with the prices of the resales in the 80's, with closing costs and no 2004 points ususally, I think we both got a GREAT deal!! Enjoy your membership!

 

[cruise-o-matic]

150 POints will get you 5 nights in a 2BR at OKW

Otherwise, I'd talk to your guide about banking them since the closing date is way after the banking deadline.

 

[JimMIA]

I would try the following, in this order:

1. Call your guide first, and MS second, and see if you can take advantage of that one-time, super-secret banking deadline waiver. The argument I would use is that since you JUST purchased, you never had a shot at the regular banking deadlines. If they'll let you, bank everything.
2. If they won't let you bank everything, bank 25 % prior to the deadline (which is only a few days away), and rent the rest.

If you do rent the points, as others have suggested, make sure you get 100% of the money and have a clear understanding with the renter that the transaction is non-refundable. If something messes up their plans, you can certainly try to help them if you can, but they are the ones renting at the last minute.

I'd also rent at $10 or more, not some fire sale price unless you really get desparate. You got the points for nothing, and if you lose them you really have not lost anything. $10-11 per point is one heckuva deal for a renter, compared to what they would be paying for smaller accommodations elsewhere.

Good luck!

 

[SuzanneSLO]

We bought our 1st contract thru DVC in April. It also included 2004 points and we were past the 100% banking deadline. My guide thought we wouldn't be able to bank more than is allowed by the rules, but we had no problem when I called MS. 100% banked and a reservation made during my 2005 UY, all in one call.

Good luck -- Suzanne

 

[bongo59]

another option we have used in a similar situation was to donate the toughy points to make a wish and take the full tax deduction. It is a great fro make a wish because they always need points and will use them right away and you get a nice write off.

 

[jcf]

I just entered into a contract for 375 at BWV with Dec 04 use year and was told by my guide that by Aug closing only bank 50%.

 

[tjkraz]

another option we have used in a similar situation was to donate the toughy points to make a wish and take the full tax deduction. It is a great fro make a wish because they always need points and will use them right away and you get a nice write off.

Actually that's not a legal deduction. According to Publication 526 under the heading of Right To Use Property it states:

"A contribution of the right to use property is a contribution of less than your entire interest in that property and is not deductible."

The publication goes on to provide a perfect example of a "vacation home" owner who donates her week to a church for auction. The example concludes that the owner is not eligible to take a deduction due to the "partial interest rule."

Only a donation of your entire DVC interest would qualify for a deduction. You might want to discuss this with your tax advisor.

 

[Wish I lived in Fl]

As a friend used to say, "Everything is deductible until the audit."