Closing on a resale contract, confused about upcoming dues....

[rusafee1183]

Hey everyone. We purchased our original contract from Disney in the middle of the year a few years ago, so I am a little fuzzy on how this next step will go for us.

We are just closing on a resale VWL contract and obviously the 2013 dues are taken care of now. We split them with the seller.

I know that the 2014 MF's are due in Jan, but I generally pay mine monthly with an auto debit. Do I need to pay the entire upfront cost of the MF's in Jan, or can I still set up an auto debit to come out throught the year?

I guess I never really figured out if my auto payments were PRE-paying for the following year .... or paying what was owed the previous Jan.

Does this make sense?

 

[DizBub]

Congrats on your new contract. When we bought resale last year it was a different resort from our original contract and I just assumed that the MFs would come out of my checking account by default. They didn't. Found that I should have called and set it up with MS. I just went ahead and paid the new contract's dues with my cc to get the rewards and still pay the monthly MFs for the older contracts.

Just call MS and let them know what you want to do.

 

[erionm]

Just call MS and let them know what you want to do.

For dues you contact Member Accounting.

 

[rusafee1183]

I guess I am just confused if I will have to pay in full in Jan, and then set up monthly payments going forward.... or if the monthly payments will be good for the upcoming year without coming up with all of it upfront.

 

[DebbieB]

Hey everyone. We purchased our original contract from Disney in the middle of the year a few years ago, so I am a little fuzzy on how this next step will go for us.

We are just closing on a resale VWL contract and obviously the 2013 dues are taken care of now. We split them with the seller.

I know that the 2014 MF's are due in Jan, but I generally pay mine monthly with an auto debit. Do I need to pay the entire upfront cost of the MF's in Jan, or can I still set up an auto debit to come out throught the year?

I guess I never really figured out if my auto payments were PRE-paying for the following year .... or paying what was owed the previous Jan.

Does this make sense?

The monthly payments are for the current year. If your dues are $1,200 due in January 2014, you can pay them $100 per month throughout 2014. This is a great benefit that DVC does this without a service or interest charge.

 

[rusafee1183]

The monthly payments are for the current year. If your dues are $1,200 due in January 2014, you can pay them $100 per month throughout 2014. This is a great benefit that DVC does this without a service or interest charge.

Thanks! This is exactly what I needed to know, but couldn't think of how to phrase it properly.

I think having a Dec use year will throw me off forever with figuring things out.

 

[erionm]

I guess I am just confused if I will have to pay in full in Jan, and then set up monthly payments going forward.... or if the monthly payments will be good for the upcoming year without coming up with all of it upfront.

If you contact Member Accounting prior to the due date for 2014 dues, they can set up your new purchase to be monthly also.

 

[LisaS]

I think having a Dec use year will throw me off forever with figuring things out.

A December UY can be a bit confusing when it comes to booking your stay but for dues everyone pays on an annual basis regardless of their UY.

Those who pay in full in January each year are paying in advance for the entire year. Our dues cover the operational expenses of the resort so you are giving Disney all of the money before they have incurred all of the expense. They offer the option to pay by credit card even though they lose 2% - 3% by doing so but since you are giving them all of the money up front, I guess it balances out for them.

The other option is "pay as you go" throughout the year. With this option, Disney is getting the money as needed to cover the operational expenses so they don't offer the option to pay with a credit card, you have to set up a monthly debit from a US bank account.

 

[rusafee1183]

A December UY can be a bit confusing when it comes to booking your stay but for dues everyone pays on an annual basis regardless of their UY.

Those who pay in full in January each year are paying in advance for the entire year. Our dues cover the operational expenses of the resort so you are giving Disney all of the money before they have incurred all of the expense. They offer the option to pay by credit card even though they lose 2% - 3% by doing so but since you are giving them all of the money up front, I guess it balances out for them.

The other option is "pay as you go" throughout the year. With this option, Disney is getting the money as needed to cover the operational expenses so they don't offer the option to pay with a credit card, you have to set up a monthly debit from a US bank account.

Perfect. Thank you so much Lisa! I could never tell if I was paying them for the upcoming year or the previous year. I guess I should have never even questioned whether Disney would wait to be reimbursed. LOL.

I should have assumed it was paying in advance for the upcoming year, but wanted to be sure. Thanks!!

Sent from my iPhone using DISBoards