Newbie questions

[LOLA2]

we will be buying into SSR end of this week just a couple questions for anyone willing to help.

We will most likely go in October all the time . Therefore should our use year
be October 01-Sep 31? Does this mean I can book in november every year for my home?

When you bank points do you just save them and not use them and that is considered banking or is there some process like calling DVC or filling out paperwork. I just don't want to save my points thinking I am banking them to find out later that I lost them because I did not do something I was supposed to.

If I close by March 01 when do you think my payments will start being due?

I would like to pay my MF all at once, will not have the money until end of March. Can I pay then, or must I pay my first year MF at time of doing contract?

Thanks I think that is all for now.

 

[LOLA2]

Also if I pay my MF is it for this year or next year? I thought I heard someone say current year when you join is waived?


Is there a rule of thumb every year for whe your MF are due?

 

[JCW]

Hi Lola2 and WELCOME HOME!!!

I will answer what I can...

I think an October UY would be best for you since you will be traveling in October most of the time. This gives you pleanty of flexibility if you need to cancel a trip (with banking or rescheduling). And yes, this would mean you would be able to schedule your October trip each November, for your home resort, with the 11 month home resort advantage.

As for banking your points, there is a process. You can either bank them through the DVC member web site or through MS. There are also banking deadlines which are based you your UY. With an October UY, you could bank 100% of your points by March 31, 50% by June 30, 25% by July 31, or 0% between Aug. 1-Sept. 30. Keep in mind these percentages are cumulative. Also keep in mind all banking transactions are final, you can not return those points to their original UY and they can not be borrowed or transferred (all of this is in the DVC vacation planner which you should receive after you close).

As for MF, I am not certain when they would be due for you. Either your guide or resale broker (whomever you are using) should be able to answer that for you. However, you can pay all of the dues up front. Your other option for MF payments is to have a monthly direct draft from your bank account (I pay our MF in one payment with my Disney Visa Rewards card, so we get earn the rewards).

Your MF are always for the current year and they are due every January 15th.

Hope this helps.

Congrats.

 

[Boston5602]

We will most likely go in October all the time . Therefore should our use year
be October 01-Sep 31? Does this mean I can book in november every year for my home?

Just to make sure you'r clear. Use Year has NOTHING to do with when you can make a reservation. The check out day of your trip determines when you can make the reservation . You would just have to have the points available when you are going on the trip.

I am in my Dec 2006 use year ( like most ). I just made a ressie for next January using 2008 points. You can't borrow points from more than a year out but the trip I'm taking will be in my Dec 2007 U/Y so I could then borrow 2008.

 

[LOLA2]

Just to make sure you'r clear. Use Year has NOTHING to do with when you can make a reservation. The check out day of your trip determines when you can make the reservation . You would just have to have the points available when you are going on the trip.

I am in my Dec 2006 use year ( like most ). I just made a ressie for next January using 2008 points. You can't borrow points from more than a year out but the trip I'm taking will be in my Dec 2007 U/Y so I could then borrow 2008.

Wow seems confusing I hope it gets easier.

 

[LisaS]

We will most likely go in October all the time . Therefore should our use year be October 01-Sep 31? Does this mean I can book in november every year for my home?

It's best to have a UY that starts just before your primary travel dates so if generally travel in Oct then an Oct UY would work well for you. You can book your home resort 11 months prior to your check-out date no matter what Use Year you own. For example if you wanted to book a stay with a check-out date of Oct 24, 2008 you could book that stay on Nov 24, 2007 regardless of whether your UY is Oct or Feb or any other UY. The only thing that matters is that you have enough points in the same UY as your travel dates to pay for the trip.

With an Oct UY, a trip in Oct 2008 would fall within your '08UY so you could use 2008 points and/or banked 2007 points and/or borrowed 2009 points to pay for that trip.

When you bank points do you just save them and not use them and that is considered banking or is there some process like calling DVC or filling out paperwork. I just don't want to save my points thinking I am banking them to find out later that I lost them because I did not do something I was supposed to.

You bank points either by phone with MS or via the DVC members' website. If by phone, you tell the MS CM how many points you want to bank. They will give you a confirmation number for the transaction. If you bank your points online, you specify how many points you want to bank and once the website completes the transaction you get a confirmation number. Hang on to the confirmation number because there have been reports of a few problems with banking, particularly via the website. As JCW already mentioned, there are deadlines for banking your points.

If I close by March 01 when do you think my payments will start being due?

No idea...

I would like to pay my MF all at once, will not have the money until end of March. Can I pay then, or must I pay my first year MF at time of doing contract?

I'm not familiar with exactly which points you get when you purchase at SSR these days and the answer to that question will affect the dues that you will owe for 2007. Here are two possibilities but you should ask your guide about this. 1) If you are getting 2006 points with your purchase then your dues for 2007 will be pro-rated from the date you get the points deposited into your account and you will be billed at closing for that amount. 2) If you are not getting points until Oct '07 then you will not owe dues until Oct 1, 2007 and will be billed at that time for four months' worth of dues for 2007 (assuming you have closed prior to Oct 1st).