need some help for the new guys

[Charles and Shelly]

I'm sure this question will sound very elementary to everyone on this board, but we're new and thought maybe you all could help. Shelly and I bought into DVC in 2003 and this year we intended on using our points both use year and banked points from 2004 toward the 7 day eastern cruise. However, we found we are going to be 25 points short of what would be needed to cover this trip. We've seen the stuff about renting, but don't yet understand it. What would you experts advise us to do? Thanks so much for your help!

 

[TroyWDW]

Have you considered borrowing 25 points from the next year. You should be able to use Banked, Current, and Borrowed points.

For example, if you have a 200 point contract and you banked all 200 points from last year, then you would have 400 points in the current use year. But, you can also borrow another 200 points from next year, which would give you a total of 600 points this year to use toward a reservation. Give Member Services a call and consult with them about what you want to do. They can help you understand the banking and borrowing windows relevant to your reservation date.

Alternatively, you could solicit for another member to transfer 25 points into your account in exchange for a cash payment (i.e. renting points).

Another option would be to rent your points to someone else (family, friend, etc.) for a DVC Resort stay and use the money to pay cash for the cruise.

Final option would be to use points and cash for the reservation. You would pay points for one person and cash for the other person.

Troy

 

[Charles and Shelly]

Like I said..."we're new"....sorry, I fogot to mention that yes, we were looking at borrowing all of our points from next year too. So all in all we'd take our 2004,2005, and 2006 points and combine them and that's when we'd come up 25 short.

We thought "renting" was exactally what Troy stated it was; paying a fellow member for some of their points to make up the difference. Is there some way of learning how to go about doing this?

We also didn't know Disney would allow you to make up the difference in cash. Man, we wish there was some sort of "School of how to's" for this stuff.

Of the two different ways, renting or making up the difference in cash, which route is usually cheaper? Meaning, what is a typical point "renting" for these days versus making up the differenced in "real" money?

Sorry for all the questions. But we gotta start somewhere and there is such a wealth of info on this site that we weren't sure where to start.

again thanks in advance for any help and thanks for your response, Troy. You've started us on the path!

 

[Regina]

I moved your question to the board where you'll find more folks who have experience doing this.

I'm sure that you'll get excellent advice.

 

[CarolMN]

...(snip)...We also didn't know Disney would allow you to make up the difference in cash. ......

Actually, it doesn't quite work like that. You can't just pay a per point amount to make up for the 25 point shortage. You either pay points or cash for a "whole" person. Inother words, you can't mix points and cash for the same person.

The first person in the same cabin must be paid for with points. The "points" person is charged the adult point rate so obviously, those who pay both points and cash always pay points for at least one adult. There is a negotiated cash rate for adults and children in the same cabin as that first "points" person - it may be more or less than the current cash price charged by the DCl or a TA. You'll have to call MS to find out what it is for your particular cruise, cabin and departure date and then do the math yourself to see which is a better value for your family.

For example, let's say there are 4 of you going - 2 adults and 2 children. You could pay points for the adults and one of the children and just pay the cash rate for one of the children. (In the example, I'm assuming that the points rate for the children is at least 25 points. If it's more than that, you wouldn't have to borrow as many points.).

HTH.

Best wishes -

 

[Granny]

If you need help on how to rent points from a member on these boards, you might want to start with the FAQ's that are posted on the Trade/Rent board.

http://www.wdwinfo.com/dvc/renttrade-faq.htm

Good luck!

 

[Laurabearz]

Man, we wish there was some sort of "School of how to's" for this stuff.

You just found it

Welcome to the DIS!

 

[tjkraz]

Charles and Shelly:

This is slightly off topic, but since you're new, I'll mention it anyway. Keep in mind that once you commit points to be used toward a Disney Cruise those points become RESERVATION POINTS. The significance here is with regard to cancellations. While you can still cancel your cruise within the established guidelines, those points will remain Reservation Points. Reservation Points can only be used toward options in the Disney Collection.

So, please be very careful before booking your cruise using points. If there is any chance that you would have to cancel or reschedule the cruise, your options will be limited with regard to rebooking those points. You could NOT use them to stay at a DVC resort (OKW, SSR, HHI, etc.), rather they could only be used for another cruse or a non-DVC resort at WDW, DL, etc.

 

[Poorman]

Not to throw another wrench it the mix, but have you considered paying all cash for your trip, and renting out your points to pay for it? You will probably have points left over if you do it this way. Points are renting for about $10.00 per point. If it costs $3500 for your cruise, you would need to rent 350 points to pay for it. Just another way to do it.

 

[Caskbill]

Not to throw another wrench it the mix, but have you considered paying all cash for your trip, and renting out your points to pay for it? You will probably have points left over if you do it this way. Points are renting for about $10.00 per point. If it costs $3500 for your cruise, you would need to rent 350 points to pay for it. Just another way to do it.

If you go this route, don't forget to calculate in the income tax impact of the rented points.