importance of "use year"

[kathyg]

We are seriously considering buying in (thanks to the enthusiasm on this board). But I keep hearing about use year and don't really understand its importance. Would appreciate any assistance.

Thanks

 

[CarolMN]

Use year is the month that your annual points are added to your account. For example, if you have a February use year and bought 150 points, every February 1 (until DVC ends on January 31, 2042), DVC would add 150 points to your account. The points you receive on 2/1/2002 are good for stays that begin on or after 2/1/2002 and end on or before 1/31/2003.

Use year has nothing to do with WHEN you can make a reservation. That is always 11 months or later from your check out date for your home resort and 7 months or later for the other DVC resorts. You need to have the points in your account when your actual stay begins, not when you make the ressie.

Use year determines your banking windows. For example, with a Februrary use year, you can bank up to a total of 150 points into the following use year if you do it on or before July 31 (February's 100% deadline).

Use year is only important if you have to cancel a reservation. For example, let's say you have a 150 point reservation for December, 2002. You used your 2002 use year points for that ressie and unfortunately, you have to cancel it in October. Since the 100% banking window is past (it was July 31), you would only be able to bank 75 (50%) of your points. October 31 is the 50% banking deadline for February use years. That means that you would have to use the remaining 75 points before 1/31/2003 or you lose them. If you had a later use year, you would have been able to bank 100% of those points in the same situation.

IMHO, unless you think you will have to cancel ressies on a fairly frequent basis (sure hope not), use year really doesn't matter all that much.

HTH.

 

[GraceDVC]

We purchased a June use year when we were visiting DVC in July. It seemed great at the time, but now we would like to vacation in April or May. We have been going the first two weeks in June, but, if we do plan on going in April or May next year, we will purchase insurance to cover our points if we have to cancel at the last minute (just before our use year ends). So, think about the time of the year that your family most likely would like to vacation and purchase a use year before that time.