Mainteance Fees for Year 2000 Points?

[JeffreyH]

I was told by a DVC guide that if I bought into WLV I would currently get an October use year. I was also told I would get year 2000 points now as well as more points on 10/1/01. For instance, if I buy 150 points in May, I will be given 150 points immediately, which expire on 9/30/01. From what I have read on these excellent boards, I could bank some of these points (but not 100%, due to the fact that they expire within 6 months). Then, I would get 150 points on 10/1/01.

A: Does this sound correct?

B: Does anyone know if I would have to pay maintenance fees for the year 2000 points? The more I think about it, I'm guessing I would have to pay the fees. But, hey, 2000 is over...

C: How much would be due immediately for maintenance fees if I purchased 150 points as described? I have seen posts talking about monthly charges for the fees. Is there any surcharge for this? Can I take my maintenance fee total and just divide by 12?

Any help would be appreciated....

 

[WALLSTREET]

We are in the same boat. We just talked to our guide 2 days ago. She said the October use year is over, it's December now. She said we would still get December 2000 points, no we don't pay 2000 dues (In fact, if I understand we'll pay a pro-rated dues that begin when we buy for the remainder of our 2001 use year)and yes we get the second batch of points in December 2001. She did NOT tell us that we couldn't bank ALL of our December 2000 points, which is what we infact plan to do if we buy. Maybe you know something I don't. Can we bank all the original December 2000 points??? You should also know that we were also told that the December use year may not last long. She felt confident it would last till mid to end April.

 

[drusba]

If you are going through Disney, it is now selling December use year not October (that will also likely be the month being sold in May). You get an allotment of points from that Dec 2000 use year (good until Nov 2001 and can be banked). Maintenance fees are based simply on the total annual allotment and are always on a calendar year basis. If you bought today you would be charged for 2001 dues on 150 points. Also you would pay only that prorated portion of the dues running from the date of contracting. In other words if you bought April 1 and annual dues were $600 you would pay only $450 for the rest of the year as you are not responsible for the portion applicable to the first three months of this year. Also, if you use Disney's automatice withdrawal from your checking account plan those dues would be paid monthly as the year progresses (not in one lump sum at closing).

 

[JeffreyH]

Wallstreet and Drubsa,
Thanks for the quick replies. I had been told October a few weeks ago. Wallstreet, as I understand the banking of points, you can bank 100% of them only if there is 5 months or more of your use year left. For instance, if your use year is December, you get your points on December 1st, and have until May 31st to bank 100%. You can bank 50% up until Aug. 31st, and 25% until Sept. 30th.

With the October use year, that means you can book 100% only until March 31st. But I guess that is irrelevant now, since they have moved on to December use years.

Again, thank you.

 

[JeffreyH]

I think my dates are correct for when you can bank certain percentages, but I think my comment "if there is 5 months or more" is incorrect. Guess it is actually 6 months. But if you do buy in before May 31st, act quick to bank all your points if this is what you want to do.

 

[mkkim]

Just signed the papers a few days ago. We bought at VWL and banked all points for year 2000. You do not have to pay dues for the whole year. We are paying dues from the day of deposit to October.

 

[drusba]

As to banking for a new purchaser through Disney, you will have a form you can sign at contracting asking if you want to bank all the points. If you sign that form with the request, all the points will be banked. Normally you have until the end of the 6th month of your use year to bank all of your points (for a Dec use year that last banking date for all points is May 31). For a new purchaser who would purchase on May 31 and get a Dec use year, you will be able to bank without any problem by signing that form.

 

[DebbieB]

Dues are on a calendar year basis, not use year. You will be charged pro-rated dues from the day of your deposit to the end of 2001 based on the number of points in your contract. You can pay it in a lump sum or use the monthly debit plan. If you buy 150 VWL points, you will be charged 150 x $3.62 (I think that's the correct dues amount) x the pro-rata factor for the remainder of 2001.