Need help understanding annual dues.

[donnac48]

My husband and I are looking into purchasing into the DVC. We're not completely sure how the annual dues work. When you get billed in January are those your points for the current year or the previous year? Does it depend upon use year? Any help would be appreciated.

 

[Happy Birthday Cat]

The annual dues have nothing to do with use year (even though this point has been debated). They are how much you pay based on the number of points that you own on an annual basis. When you receive a bill in December of 2005, you are paying the annual dues for January through December of 2006.

HBC

 

[sleepydog25]

As a further clarification to HBC's comments, you will get billed for annual dues each year about the same time. That bill currently runs approximately $4 per point depending on the resort that you would call your "home." So, if you own 150 points from any resort, you would multiply that amount times whatever the current year per point cost is factored to be--some resorts are slightly cheaper than others. Those annual dues are above and beyond whatever you are paying for your loan, and they are assessed at the first of the year; whereas, your loan payments typically would start within 30-45 days of closing.

The month of your closing is generally touted as beginning of your use year. For example, we bought into DVC last September, but the closing didn't occur until March; thus, our use year begins in March, while annual dues are required at the beginning of each year. Hope this helps clarify your thinking, and good luck with the decision.

 

[Doctor P]

In general, the month of your closing need not have anything to do with your use year. Our closings for our June use year, including our original direct purchase from Disney as well as three add-ons, have been in October, June, May, and November.

 

[senecabeach]

Donnac48...

Here are the Annual dues for 2005 at each resort per point:

Saratoga Springs $3.82
Old Key West $3.86
Hilton Head Island $4.03
Beach Club Villas $4.26
Wilderness Lodge $4.35
Boardwalk Villas $4.41
Vero Beach $4.86

I have mine automatically deducted monthly from my checking.

I can't pm you.. your pm is turned off..I can send you more info??