I got a call today about extending OKW.

[tvwalsh]

My CM called today to get my credit card number to charge up the $15/point on a 50 point contract at OKW. I chose to extend my 50 point contract but not my 230 point contract.

He said that his best estimate was that 25-30 percent of the OKW contracts were going to be extended according to the cards we filled out and returned.

I have no real evidence, but following these boards leads me to believe that he may be estimating too high a percentage.

 

[simzac]

For those of us who said no, I wonder how long it will be before we get our paperwork to complete the no process. Bet DVC drags it out hoping we change our mind. JMO

 

[tvwalsh]

My CM seemed familiar with the paperwork which was going to be sent to all of us who are not extending. He tried to convince me that it would be very easy to fill out even though it did need to be notarized. He did not, however, have an answer to the specific when question you are asking unless "Pretty soon" satisfies you!

 

[RobDoc]

Just curious why you are giving DVC your money now instead of waiting another 3+ months - especially for something you won't get any use from for another 34+ years?

Did they offer an incentive for getting the use of your money for almost 4 months before their own stated deadline?

 

[tvwalsh]

I guess I want to be the first one to be able to tell you all what the time capsule is.

You are 100% right though, Doc, if it were a larger amount of money (Like if I had extended all 280 points). I would have at least waited a few more months.

I also figured with Christmas expenses coming up, I probably won't have any more money in February than I do now.

 

[Dean]

My CM called today to get my credit card number to charge up the $15/point on a 50 point contract at OKW. I chose to extend my 50 point contract but not my 230 point contract.

He said that his best estimate was that 25-30 percent of the OKW contracts were going to be extended according to the cards we filled out and returned.

I have no real evidence, but following these boards leads me to believe that he may be estimating too high a percentage.

25-30% of contracts is not the same percentage of points. Like you, I'd guess that smaller contracts are more likely to be extended than larger ones. I'm hoping someone drags their feet and tests the lien issue as I don't believe the POS or other paperwork gives them the legal right to levy a SA for this purpose or to hold the contract as not in good standing. If I still owned OKW, I'd definitely do so.

 

[simzac]

Just curious why you are giving DVC your money now instead of waiting another 3+ months - especially for something you won't get any use from for another 34+ years?

Did they offer an incentive for getting the use of your money for almost 4 months before their own stated deadline?

And it is still beyond me why anyone would pay for something other than a funeral plot that they won't get any use out of for 34 years. JMO

 

[dianeschlicht]

And it is still beyond me why anyone would pay for something other than a funeral plot that they won't get any use out of for 34 years. JMO

Exactly!

 

[dwelty]

Im wondering if they would have had better luck offering extensions to BCV or VWL instead of OKW. OKW likely has older owners that would not be interested in extending their contracts. I know that in 15 years I will not be interested in extending SSR simply because I will be 52 then, and 72 when SSR expires. (a perfect time, IMHO to reduce trips to WDW). As to the argument of extending it "For the kids", when SSR expires, my oldest will be 52 and my youngest will be 40, not exactly helpless kids that will need mommy and daddie's help to go on vacation. I am sure the thinking is similar for OKW owners who are deciding weither to extend or not. Had they gone with VWL or BCV, they would have likely found alot of younger owners willing to extend.

 

[simzac]

Im wondering if they would have had better luck offering extensions to BCV or VWL instead of OKW. OKW likely has older owners that would not be interested in extending their contracts. I know that in 15 years I will not be interested in extending SSR simply because I will be 52 then, and 72 when SSR expires. (a perfect time, IMHO to reduce trips to WDW). As to the argument of extending it "For the kids", when SSR expires, my oldest will be 52 and my youngest will be 40, not exactly helpless kids that will need mommy and daddie's help to go on vacation. I am sure the thinking is similar for OKW owners who are deciding weither to extend or not. Had they gone with VWL or BCV, they would have likely found alot of younger owners willing to extend.

My guess is that DVC hasn't aquired near as many points thru ROFR at VWL and BCV as they have at OKW. Thus the reason for offering the extension at OKW only so they could also sell off the points they have in stock. JMO

 

[tvwalsh]

Another reason that I gave DVC the money right away was to make sure that the one percent credit will have time to be on my VISA card by the time I go to OKW in January.

Just to let you all enjoy it with me, this trip is with two other adult couples (no kids) and is for a week in a grand villa at OKW.

 

[billmac50]

Im wondering if they would have had better luck offering extensions to BCV or VWL instead of OKW. OKW likely has older owners that would not be interested in extending their contracts. I know that in 15 years I will not be interested in extending SSR simply because I will be 52 then, and 72 when SSR expires. (a perfect time, IMHO to reduce trips to WDW). As to the argument of extending it "For the kids", when SSR expires, my oldest will be 52 and my youngest will be 40, not exactly helpless kids that will need mommy and daddie's help to go on vacation. I am sure the thinking is similar for OKW owners who are deciding weither to extend or not. Had they gone with VWL or BCV, they would have likely found alot of younger owners willing to extend.

My kids will be in their 60's in 2042, but I'm still extending. They are both very successful and don't need my help. But I enjoy sharing my success, and want to do it "with my eyes open, rather than my eyes closed". Yes, I'll probably be long gone by then, but I enjoy sharing Disney as much as I enjoy going to Disney.

p.s. - I've put it on my calendar in mid February to call and put the payment on my credit card.