DVC resale ?

[magnoliabelle]

I have been reading these boards for several years, but this is my first time to post. I have a question that I can't seem to find the answer to. We are considering a VWL purchase from Disney with a December use year. I jotted down notes very quickly as we spoke and have something written down about the possibility of banking a percentage of 2003 points. If you buy a resale from Disney and the use year is not up, are there usually points left that you can use or bank? I tried to call back, but the office is closed, and I am driving myself crazy trying to find out. I know I can find experts here with the answer.

By the way, she said that this afternoon a number of points became available for Boardwalk as well.

Thanks

 

[Dean]

Although things have been a little different with SSR, in general, DVC will not let you bank or borrow points until you close. You would be past the 100% banking window. Tell them you will take the points as long as they will bank ALL the points. If not, you'd likely be able ot bank half.

 

[JeffPort]

I just happen to have a December Use Year, so I'll answer your question (as best I understand it) with a real-world example.

In April, I contacted Disney to add-on additional points to my existing BWV contract. There were December Use Year points available, so I initiated the additional purchase. My credit card was charged for the full amount and my existing DVC account was immediately credited with the additional 65 points ... for my December 1, 2003 - November 30, 2004 use year. Since I still was within the 6 month banking window, I immediately banked those 2003 use year points into my 2004 use year (making them available on December 1, 2004). On December 1, 2004, I will also get an additional 65 points for the 2004 use year, and then every year after that through 2042. I was only billed prorated maintenance fees for the final 8 months of the 2004 calendar year. I will pay full dues on the January, 2005 bill.

The only thing I don't know the answer to is what happens to your banking ability for the new points if you buy them after the 6 month 100% banking window. I'm guessing that the banking procedure would follow the normal percentage cutoffs, but I can think of a few other plausible scenarios as well.

Hope this helps ...

 

[JimC]

We bought an add-on in October with a February use year and could not bank all of the points. If I remember correctly they look at the entire contract, what you banked to date and what limitation bracket you are in.

We decided it was as good an excuse as any for another trip in December to use the points.

 

[Dean]

Originally posted by JeffPort
I just happen to have a December Use Year, so I'll answer your question (as best I understand it) with a real-world example.

In April, I contacted Disney to add-on additional points to my existing BWV contract. There were December Use Year points available, so I initiated the additional purchase. My credit card was charged for the full amount and my existing DVC account was immediately credited with the additional 65 points ... for my December 1, 2003 - November 30, 2004 use year. Since I still was within the 6 month banking window, I immediately banked those 2003 use year points into my 2004 use year (making them available on December 1, 2004). On December 1, 2004, I will also get an additional 65 points for the 2004 use year, and then every year after that through 2042. I was only billed prorated maintenance fees for the final 8 months of the 2004 calendar year. I will pay full dues on the January, 2005 bill.

The only thing I don't know the answer to is what happens to your banking ability for the new points if you buy them after the 6 month 100% banking window. I'm guessing that the banking procedure would follow the normal percentage cutoffs, but I can think of a few other plausible scenarios as well.

Hope this helps ...

With BCV and prior, they wouldn't let you bank or borrow until you actually closed. I'm told they are differing on this issue with SSR. And as mentioned, the points banking is cummulative. So if you've banked points already, you may lose out if past the banking window. OTOH, if you haven't banked points, or far less than 50%, you may come out ahead. Regardless, I'd push them to allow any exception necessary if buying in this situation.

 

[tamu91]

I'm not sure if it's just SSR situation but then again, it could be. When I spoke with Disney couple of weeks ago, the salesperson made it sound like as soon as you signed the contract, you can make reservations, bank your points, etc.

As far as banking question goes, we are now in June so per DVC rule, you can't bank 100% of your points. However, since you are purchasing directly from Disney, I bet if you REALLY insisted they back date your contract or something, they will let your bank your points in full. JMHO

 

[DebbieB]

If you are buying direct from Disney, they will probably make exceptions on the banking issue. When I bought in 1999, there was a form with my papers to automatically bank 100 of my 250 points at closing (I could only use 150 for magical beginnings). By my October closing date (April use year), I would have been past my 100% banking deadline.