newbie ? bank points

[weswife]

Hello!

We just passed ROFR on Aug.14/14! Proud new owners of 150 points at the BW!!! Soooo happy.

My question is the contract came with 21 points for 2014. The use year is Sept. Can we bank the points? I am not understanding use year, banking and borrowing? I have been reading every post I can trying to wrap my head around this new DVC world!

We like to travel between Sept-Dec., if you need that information. We are renting from 2 members on here for our 2014 trip. So, it would be great to have the 21 points for our 1st booking as DVC members in 2015.

So much to learn!

 

[disneynutz]

Hello!

We just passed ROFR on Aug.14/14! Proud new owners of 150 points at the BW!!! Soooo happy.

My question is the contract came with 21 points for 2014. The use year is Sept. Can we bank the points? I am not understanding use year, banking and borrowing? I have been reading every post I can trying to wrap my head around this new DVC world!

We like to travel between Sept-Dec., if you need that information. We are renting from 2 members on here for our 2014 trip. So, it would be great to have the 21 points for our 1st booking as DVC members in 2015.

So much to learn!

You can bank during the first 8 months of your UY. You are currently in your 2013 UY and according to your post you have 21 points coming in your 2014 UY on 9/14. If you are correct you bought a stripped contract and won't be getting your full allotment of points until 9/15.

Who is paying the dues on the points that you didn't get?

Bill

 

[supersnoop]

If you have a September use year, then your 2014 year hasn't even started yet. Are those 21 points actually 2014 points, or 2013 points. If they are 2013, the. Your banking window has already expired and they need to be used by the end of the month. If they are truly 2014 points, then they will be good from 9/1/2014 throughout 8/31/2015 and could be banked for trips though 8/31/2016.

 

[weswife]

Thanks for the replies!

I have alot of learning to do in regard to DVC ownership!

Yes, the 21 points are 2014. The seller paid the dues on 2014.

We plan to visit in 2015 between Oct - Dec. Will my points be available for this trip?

I am so confused .....

 

[drusba]

You will be able to bank the 2014 points for that trip and you will have Sep 2015 points to also use for it, and you could even borrow points from Sep 2016 for a trip between Oct and Dec 2015. Moreover, you can do all of those at the same time when you go to book your home resort exactly 11 months out, meaning you can call or go on line to reserve sometime between Nov of this year and Jan of 2015 depending on when your trip is in Oct to Dec 2015.

 

[disneynutz]

Thanks for the replies!

I have alot of learning to do in regard to DVC ownership!

Yes, the 21 points are 2014. The seller paid the dues on 2014.

We plan to visit in 2015 between Oct - Dec. Will my points be available for this trip?

I am so confused .....

Stick with me and I will walk you through it.

You said that the 2014 points are for the 2014 UY not the calendar year, correct?

What are your dates for your 2014 UY?

Bill

 

[weswife]

What are your dates for your 2014 UY

BUYER TO RECEIVE 21 POINTS FROM THE 2014 ALLOCATION, 150 POINTS FROM THE 2015 ALLOCATION AND ALL POINTS FROM 2015 ON.

I copied this clause from the contract. Is this the information you asked for?

 

[weswife]

You will be able to bank the 2014 points for that trip and you will have Sep 2015 points to also use for it, and you could even borrow points from Sep 2016 for a trip between Oct and Dec 2015. Moreover, you can do all of those at the same time when you go to book your home resort exactly 11 months out, meaning you can call or go on line to reserve sometime between Nov of this year and Jan of 2015 depending on when your trip is in Oct to Dec 2015.

Thanks for the reply!

I am trying to get this all figured out. So much to learn

 

[HarvardAce]

What are your dates for your 2014 UY

BUYER TO RECEIVE 21 POINTS FROM THE 2014 ALLOCATION, 150 POINTS FROM THE 2015 ALLOCATION AND ALL POINTS FROM 2015 ON.

I copied this clause from the contract. Is this the information you asked for?

Yes.

Just think of your calendar starting on September, so your "2014" really runs from September 2014 through August 2015. Any 2014 points would only be usable during that period, unless you banked them (in which case you must use them from Sept. 2015 through Aug. 2016).

The above means you currently have 0 points. On 9/1/14, you will then have access to 21 points, which would mean you could use those from 9/1/14 through 8/31/15, or you could bank those to use along with your 2015 points.

For your proposed trip in Oct/Nov/Dec 2015, that would be during your 2015 year, so you can use:

banked points from 2014 (the 21 you are getting on 9/1/14)
2015 points (the 150 you get on 9/1/15)
borrowed points from 2016 (the 150 you would normally get on 9/1/16)

 

[weswife]

HarvardAce

Thanks for the reply! I think I understand now.

I will bank the 21 as suggested and depending on what we plan for 2015 we might borrow. I hated to waste the points so I had to ask. For some reason I was thinking they would expire in Sept

Thanks for the detailed reply!

 

[CheapRunnerMike]

One of the best ways I saw someone explain Use Year was to treat it like New Year's Day...meaning for your September UY, September 1st is New Year's Day! Not sure what it was about that wording, but it really clicked for me.

 

[weswife]

One of the best ways I saw someone explain Use Year was to treat it like New Year's Day...meaning for your September UY, September 1st is New Year's Day! Not sure what it was about that wording, but it really clicked for me.

Yes I understand it that way too.

So all this being said. I do not need to wait until the points are deposited in Sept 2015 to book my trip... correct?

 

[rlovew]

Yes I understand it that way too.

So all this being said. I do not need to wait until the points are deposited in Sept 2015 to book my trip... correct?

No you can book at your home resort at 11 months you need the points available when you travel- it doesn't matter when they are available for booking purposes.

 

[weswife]

Thanks for all the replies! I think I got this.

We hope to close on Sept 14! We will book at our home resort at 11 months, hope to get a boardwalk view!