Convince me to pay for cruise & rent my points

[quirty30]

Ok, I have been hemming and hawing over this for weeks. I finally have chosen my specific cruise & cabin and have until Monday to decide how I will pay for it: with points, or cash. Here are my calculations:

# of points needed to book with DVC: 604
Appx value of points on rental market: $6040
Cost of cruise for cash: $4877
Difference: $1163
Add $275 in onboard credits from DCL, TA & Disney Visa
Add $95 I won't have to pay for points booking

Total savings: $1533

Also note that my points are mostly BLT; I called David, didn't speak with him directly, but was advised that BLT points are in high demand. So if I don't want to bother renting the points out myself, I think that using David's service will be painless.

Final consideration - and I can't quite wrap my arms around this - I would need about about a year and a quarter of my point allotment to book this cruise on points. Do I need to factor the yearly dues into the above equation? Because it would pretty much be a wash compared to the above savings. But I'm thinking I will be paying those dues no matter what I do, and left it out of my calculations.

Any advice you can offer would be greatly appreciated - TIA

P.S. Since I would be using Disney Visa to pay, can I stagger my payments and each time have 6 months to pay off the balance with no interest? If so, this is an added bonus.

 

[Disney Princess]

I would rent the exact number of points you need to rent in order to get the equivalent in cash. So, in your case I would only rent 487 points (or an even number close to that value). That way, you can pay for your cruise with your rental money, but not lose 1.25 years worth of points. If you have a few points left over you could bank them, and you're not having to rent out points that you want to use the next year. I hope this makes sense.

I would definitely rent the points and pay cash, getting to use the benefits of the onboard credit, etc. I just would not rent the number of points needed for a cruise if you could rent fewer, get the cash needed to pay for the cruise, and have points left for yourself. Good luck in choosing!

And sorry, I don't know about staggering the payments on the Disney Visa.

 

[CarolMN]

Keep in mind that you will only get 1/2 of the rental up front if you go through Daddio. Believe David holds the rest until the reservation is completed.

 

[Paging Tom Morrow]

Walk into a store. Find a nice sweater. Now add $1533 to the total price of that sweater and determine if you'd still like to purchase that sweater.

Repeat process for cruise...

 

[FindingFigment]

Renting your points may only be worth $6040 but 604 points could get you a 1 BR LV at BLT during Dream Season (with 58 points to spare) for TWO weeks. And the price tag for that room would cost $9062 if reserving through CRO.

So when you look at it that way, it actually a savings of $4185.00

 

[quirty30]

I would rent the exact number of points you need to rent in order to get the equivalent in cash. So, in your case I would only rent 487 points (or an even number close to that value). That way, you can pay for your cruise with your rental money, but not lose 1.25 years worth of points. If you have a few points left over you could bank them, and you're not having to rent out points that you want to use the next year. I hope this makes sense.

I would definitely rent the points and pay cash, getting to use the benefits of the onboard credit, etc. I just would not rent the number of points needed for a cruise if you could rent fewer, get the cash needed to pay for the cruise, and have points left for yourself. Good luck in choosing!

And sorry, I don't know about staggering the payments on the Disney Visa.

I was looking at my BLT points and have a combined 559 for 2012 & 2013. I would rent any or all of these and hold on to my 199 AKV points and save them for a nice long weekend on the Concierge Level.

Keep in mind that you will only get 1/2 of the rental up front if you go through Daddio. Believe David holds the rest until the reservation is completed.

Thanks for letting me know and not an issue - I don't need the funds to pay for the cruise, but would like to "pay myself back" eventually.

Walk into a store. Find a nice sweater. Now add $1533 to the total price of that sweater and determine if you'd still like to purchase that sweater.

Repeat process for cruise...

LOL - that's an expensive sweater but I see your point : )

Renting your points may only be worth $6040 but 604 points could get you a 1 BR LV at BLT during Dream Season (with 58 points to spare) for TWO weeks. And the price tag for that room would cost $9062 if reserving through CRO.

So when you look at it that way, it actually a savings of $4185.00

If I could get 2 consecutive weeks off work, I would love to do this - it certainly reinforces the idea that staying within DVC is the best point value!!!

Thanks all for the advice. I think it's kind of a no-brainer. I'm just afraid I'll pay for the cruise and then use my points anyway!!!!

 

[NYDisneyDude]

I tried to rent 325 SSR points last year that were rolled over from 2009. I spent a lot of time researching options and decided to use a reputable third party to rent the points and take care of the details. With this type of arrangement, you have to be fast on the draw. You'll get an e-mail saying that you are one of a few that have been selected to meet a particular vacation request. After missing out three times (I don't check my personal e-mail at work), I decided to sell the points on eBay. In the end, I got $5.25 per point. Third parties are great, but remember (1) it's not a quick process, (2) you won't get $10 per point, and (3) you still have to do the work of making the reservation, providing names, etc. DVC will only talk to the owner -- they will not talk with the third party OR the renters. It all depends upon your particular needs. For some, third party arrangements are the way to go. For others (like me), it just didn't work.

 

[bbn1122]

Have you been on a DCL cruise yet? Will it be on the Dream or a week on the Magic?

If I had 604 points and have vacationed regularly at WDW through DVC, I would go on the cruise.

I am going on my 2nd cruise this summer and hope to go also in 2012. I only have 200 points a year and there are 5 of us, so I do not think I will use my points for the cruise. We will use the points to stay before or after at a DVC.
But if I had 400 or more points I would use it once in awhile for a cruise.

But do not listen to me. I am the kind of person who will splurge often if I can.

Enjoy whatever you decide.

 

[dvcbrad]

quirty30 ... what you're proposing is exactly what we've done before, other than we've rented directly rather than using David's. I woud not consider the dues in the equation, either, as personally I consider those to be a sunk cost, in other words we're going to incur those no matter what trip we take. We've had good experiences with renting and come across nice people in the process, but it does take some time as opposed to going to David's, which I've read seems rather hassle free.

As another poster said, rent out what you need to cover the cash cost of the cruise. That way you're tapping into as few points as possible. Consider maybe even renting a few fewer to save those for the night before (recommended due to flight issues getting to Orlando - you don't want to be scrambling to get there) or after.

Go Bears!

 

[Inkmahm]

Ok, I have been hemming and hawing over this for weeks. I finally have chosen my specific cruise & cabin and have until Monday to decide how I will pay for it: with points, or cash. Here are my calculations:

# of points needed to book with DVC: 604
Appx value of points on rental market: $6040
Cost of cruise for cash: $4877
Difference: $1163
Add $275 in onboard credits from DCL, TA & Disney Visa
Add $95 I won't have to pay for points booking

Total savings: $1533

Also note that my points are mostly BLT; I called David, didn't speak with him directly, but was advised that BLT points are in high demand. So if I don't want to bother renting the points out myself, I think that using David's service will be painless.

Final consideration - and I can't quite wrap my arms around this - I would need about about a year and a quarter of my point allotment to book this cruise on points. Do I need to factor the yearly dues into the above equation? Because it would pretty much be a wash compared to the above savings. But I'm thinking I will be paying those dues no matter what I do, and left it out of my calculations.

Any advice you can offer would be greatly appreciated - TIA

P.S. Since I would be using Disney Visa to pay, can I stagger my payments and each time have 6 months to pay off the balance with no interest? If so, this is an added bonus.

Looks like you did an excellent job of convincing yourself. If everyone did this analysis, I can't imagine why anyone would still pay points for a cruise.

 

[quirty30]

I tried to rent 325 SSR points last year that were rolled over from 2009. I spent a lot of time researching options and decided to use a reputable third party to rent the points and take care of the details. With this type of arrangement, you have to be fast on the draw. You'll get an e-mail saying that you are one of a few that have been selected to meet a particular vacation request. After missing out three times (I don't check my personal e-mail at work), I decided to sell the points on eBay. In the end, I got $5.25 per point. Third parties are great, but remember (1) it's not a quick process, (2) you won't get $10 per point, and (3) you still have to do the work of making the reservation, providing names, etc. DVC will only talk to the owner -- they will not talk with the third party OR the renters. It all depends upon your particular needs. For some, third party arrangements are the way to go. For others (like me), it just didn't work.

I'm sorry it didn't work out well for you. I may not have to utilize a 3rd party, but I like knowing it's available if I need it. I actually have several friends who frequently travel to WDW, and ideally I will be able to rent to them.

Have you been on a DCL cruise yet? Will it be on the Dream or a week on the Magic?

If I had 604 points and have vacationed regularly at WDW through DVC, I would go on the cruise.

I am going on my 2nd cruise this summer and hope to go also in 2012. I only have 200 points a year and there are 5 of us, so I do not think I will use my points for the cruise. We will use the points to stay before or after at a DVC.
But if I had 400 or more points I would use it once in awhile for a cruise.

But do not listen to me. I am the kind of person who will splurge often if I can.

Enjoy whatever you decide.

I have not been on DCL. We are going to be booking the Fantasy for next summer. I was on the Big Red Boat almost 20 years ago before DCL existed. And one Carnival Cruise about 10 years ago. It will be a first cruise for my kids. We have 460 points so if we like this as much as I think we will, we could easily manage more cruises down the line.

quirty30 ... what you're proposing is exactly what we've done before, other than we've rented directly rather than using David's. I woud not consider the dues in the equation, either, as personally I consider those to be a sunk cost, in other words we're going to incur those no matter what trip we take. We've had good experiences with renting and come across nice people in the process, but it does take some time as opposed to going to David's, which I've read seems rather hassle free.

As another poster said, rent out what you need to cover the cash cost of the cruise. That way you're tapping into as few points as possible. Consider maybe even renting a few fewer to save those for the night before (recommended due to flight issues getting to Orlando - you don't want to be scrambling to get there) or after.

Go Bears!

That's what I thought about the dues, but I just couldn't quite grasp the concept. And I should definitely have enough points to cover a night at WDW before the cruise if we choose to do that. And I'm always happy to hear about success stories with renting.

And yes, GO BEARS!!!!

Looks like you did an excellent job of convincing yourself. If everyone did this analysis, I can't imagine why anyone would still pay points for a cruise.

Good - I thought I covered all my bases; just wanted to be absolutely sure I didn't fail to consider any other factors. I think it's a no-brainer as far as the cost/value comparison is concerned - the question is, can you rent your points easily enough? I think I can. Some people put a value on their time, and would consider it a wash and would rather not deal with the hassle. I suppose for a shorter cruise in an inside cabin, the overall savings might not be as drastic. But for $1500; that's probably enough for airfare, insurance, transfers and tips.

Consider me convinced - thank you all for your comments!