Newbie's Banking Points Question!

[Eventer98]

Hey there...future DVC owner here. Had what I thought was a simple question but couldn't find it anywhere I looked. If I bank a year's worth of points, say 160 for ie, and then the next year I only use 250/320 can I then bank the remaining 70? I know you can't bank two years in a row but I guess my question is when I bank a year's worth do they use the that year's points first when making a res?? Is whatever is left of the current year still bankable?? Sorry if the phrasing in confusing!

 

[disneystick]

Yes...they use the bank pts. first for your reserv. then you can bank the pts. from 07 to the next yr.

 

[Dean]

The answer is yes, in most cases. The only issue you'd have would be if you used "current use year points" and ended up with the 70 points remaining as being banked points. It is possible to find yourself in that situation so just be careful.

 

[Eventer98]

Thanks for the headsup! I was just thinking ahead b/c in most cases we will have leftover points each year until we start renting 1BR's. Another question you may be able to help with....we would ideally like to buy this summer but it may be as late as Nov. What are the odds we will get 07 points if we buy in Nov?? TIA!!

 

[mishasmom]

We bought last November with an October use year and got all our 2006 points.

 

[senecabeach]

Another question you may be able to help with....we would ideally like to buy this summer but it may be as late as Nov. What are the odds we will get 07 points if we buy in Nov??

Hopefully Disney will still be offering this incentive or maybe another one that works better for you. At least you'll be content in having done your homework and buying in your own time.

 

[Dean]

Thanks for the headsup! I was just thinking ahead b/c in most cases we will have leftover points each year until we start renting 1BR's. Another question you may be able to help with....we would ideally like to buy this summer but it may be as late as Nov. What are the odds we will get 07 points if we buy in Nov?? TIA!!

It depends on whether you buy resale and which resort you buy. Assuming you buy from DVC to get AKL, I doubt you'll get 2007 points that late because I suspect phase one will be sold out well before then and possibly phase 2 as well. But there is no way to know for certain and it's possible you would get 2007 pts. For other resorts direct from Disney, I suspect you could get 2007 points up until the 2008 use year opens. For resale it will simply depend on the contract.

 

[Eventer98]

Thanks guys! We are hoping to buy new at SSR before they sell out. I am taking a tour in June and will have the downpayment then but DH will be starting a new job in July and we may have to wait until he is settled. So I guess I always like to hear about worst-case scenario!

 

[Dean]

Thanks guys! We are hoping to buy new at SSR before they sell out. I am taking a tour in June and will have the downpayment then but DH will be starting a new job in July and we may have to wait until he is settled. So I guess I always like to hear about worst-case scenario!

Other than financing, which is possible with resales as well in some situations, why would you buy this number of points at SSR retail. You can get SSR cheaper resale and often get as many or more points than you would direct. For SSR and this number of points I'd definitely look at resale and compare.

 

[Eventer98]

Thanks for the tip Dean! The only drawback is it seems that resale financing is a bit harder to get. I was told by Timeshare Store that you need a credit score of 700 or above. Mine is just below that. I had planned to look into both though when the time comes!

 

[Dean]

Thanks for the tip Dean! The only drawback is it seems that resale financing is a bit harder to get. I was told by Timeshare Store that you need a credit score of 700 or above. Mine is just below that. I had planned to look into both though when the time comes!

There are other ways to finance including equity line of credit and checks on a credit card. Many may be a much better rate than the financing through either source you've looked at so far. Personally I'd not a big fan of financing this type of purchase but I am a big fan of making sure you have all the info available.