OKW Extension ?

[dvc at last !]

January 31 is the last day to decide
re: OKW Extension and save $10.00 per point.

Still on the fence -

Do you think the price per point will be more for the points with the extension compared to points without the extension ?

 

[chalee94]

if you don't get a lot of responses, here's an 18 pg thread with links to a related poll.

here's another 6 pg thread specifically on "added value."

 

[dcamdad]

January 31 is the last day to decide
re: OKW Extension and save $10.00 per point.

Still on the fence -

Do you think the price per point will be more for the points with the extension compared to points without the extension ?

Not really. Jan 31 is the last day for the special financing. Feb 29 is the last day for the special $10.00 per point off.

 

[AnnaS]

I have just sent my papers back today (called two weeks ago).

We decided to do the extension on our 60 pt. add-on only.

Under different circumstances (husband home/medical condition) we would have extended on our original contract also. Just more of an emotional decision for us and I know my three children can get a few more years out of it down the road (hoping OKW will still be in decent shape, lol.)

Perhaps when things settle more here, they will offer the same with BCV and we can extend our points there - if not - oh well.

 

[dianeschlicht]

For us the extension makes no sense. We will be in our mid 90's when the original expires (should we be so lucky to live that long), and our "kids" will be 73 and 67. Nope, not going to spend thousands of dollars to extend something that has no vale for another 35 years, but does cost me more. I'd much rather use that money to add on to our AKV contract....THAT I can use now.

 

[Dean]

It makes no sense. I think it's essentially guarateed that one could put the $$$ in the bank and buy in for a contract around 2042 that had 15 years left and come out ahead. I think $10 pp at the outside is the most one could justify financially even then it would depend on one's specifics. I'm surprised DVC went this high doing it now and not surprised the response by members "to their amazement" has been less than overwhelming.

 

[Mtnman44]

I think DVC, if they try this again or with another 2042, may be be offering some better "incentives" that essentially put the add on price around $5 -$7. that I think would result in a lot more members adding on and is much closer to a reasonable price based on a 35 year present value analysis.

Interestingly, that's pretty close to how much DVC raised their price on new extended OKW contracts vs. their price prior to the extention.

 

[Dean]

I think DVC, if they try this again or with another 2042, may be be offering some better "incentives" that essentially put the add on price around $5 -$7. that I think would result in a lot more members adding on and is much closer to a reasonable price based on a 35 year present value analysis.

Interestingly, that's pretty close to how much DVC raised their price on new extended OKW contracts vs. their price prior to the extention.

The problem is that they've already committed themselves. While technicallly they could offer for less, I think it'd be hard to do when they've set the bar at these levels. Say they wanted to lower the price for OKW to $10 pp rather than $15, they'd essentially have to give the others a rebate of some type. I guess I could see them getting cute with specials if you add on or dues forgiveness for that year or the like to do the same thing. But I do think they're really painted themselves into a corner on this one much.

Can you imagine those exec meetings with everyone scratching their heads about why so few members have opted in, must be like the ones about why HH and VB weren't selling just because it was DVC.

 

[sjdisneywedding]

do we have a poll or anything going on here for this? seems the same people keep posting over and over how no one is buying in to this extension.

is there any way to determine the % being extended?

 

[TisBit]

Can you imagine those exec meetings with everyone scratching their heads about why so few members have opted in, must be like the ones about why HH and VB weren't selling just because it was DVC.

But I wonder if this extension was really for the Owners in the end. In some ways it helps offset the resale values of resorts. If you were going to purchase from Disney or Resale adn one was 15 years longer for just 5-6 bucks more per point, I think it would be a benefit for Disney.

People who are thinking about selling contracts probably would not put the money out, because there is little return, but owners who aren't looking to ever sell, may consider it for personal value of kids/grandkids, etc. In essence, this extension doesn't cost Disney a dime, but brings in additional revenue and and helps to compete with resale market. I think you will see Disney excercise more and more ROFR on OKW when the numbers work. They get a cheap resale without extension, add the 15 years and sell it back at a much higher rate.

 

[dianeschlicht]

I asked my guide about it last week, and he said it is running about 60% taking the extension and 40% not. From Disney's standpoint, I'm sure that's not an overwhelming success.

 

[sjdisneywedding]

I asked my guide about it last week, and he said it is running about 60% taking the extension and 40% not. From Disney's standpoint, I'm sure that's not an overwhelming success.

I dont know, that sounds better than what I would have thought from reading the posts here, you would have thought it was about 75% not taking it.

I would think 60% would probably warrant an extension on the remaining properties.

 

[chalee94]

do we have a poll or anything going on here for this? seems the same people keep posting over and over how no one is buying in to this extension.

the poll referenced in the 2nd post in the thread is running 55-50 against...

 

[Sabor]

I asked my guide about it last week, and he said it is running about 60% taking the extension and 40% not. From Disney's standpoint, I'm sure that's not an overwhelming success.

And we all know that the Guides have access to all the accurate information and never stretch the truth in anyway.

These numbers may be accurate if you flip them the other way.

 

[Chuck S]

If we'll be able to decide later on, as we get closer to 2042, that we'd actually be healthy enough to use the extension, I wonder if the $25 price is set? Even though it would cost us more, I thnk it is a better way to go in my case, as I'll be 84 years old in 2042.

BTW, if DVC hasn't heard from you one way of the other, Quality Assurance is calling on the phone.

 

[Chuck S]

And we all know that the Guides have access to all the accurate information and never stretch the truth in anyway.

These numbers may be accurate if you flip them the other way.

There may actually be 60% or so extending, people may have kids, or are planning for grandkids. a lot of folks may want to leave the next couple of generations the "gift of magic." Many times we have seen people posting that they wouldn't consider DVC because it wasn't a "forever" deeded timeshare that they could pass on in perpetuity, like some sort of legacy.

 

[dvcbrad]

I think we would have considered it much more seriously had the price been somewhere closer to $5 per point ... OR if they would have included some sort of CURRENT incentive to extend, i.e. similar to developer points. Even if the price would have been, say $10 per point, and an equal amount of "developer points" given to be used in the next year, I think we would have gone for it.

As it was structured, with no current benefit what-so-ever at a price that is ridiculous given the fact that the first realizable benefit from the expenditure will be in 2043, it was an easy "No" for us!

 

[sjdisneywedding]

the poll referenced in the 2nd post in the thread is running 55-50 against...

no one has respnded to that thread in almost a half year
so then that actually makes the 60-40 argument stronger for me anyway

that poll has been burried for a long time

 

[sjdisneywedding]

I think we would have considered it much more seriously had the price been somewhere closer to $5 per point ... OR if they would have included some sort of CURRENT incentive to extend, i.e. similar to developer points. Even if the price would have been, say $10 per point, and an equal amount of "developer points" given to be used in the next year, I think we would have gone for it.

As it was structured, with no current benefit what-so-ever at a price that is ridiculous given the fact that the first realizable benefit from the expenditure will be in 2043, it was an easy "No" for us!

the benefit is points at $1 a piece
the incentive is $10 off initially

not sure why anyone would ever expect DVC to give the points away

sure heres 15 years worth of points just because

 

[Brian Noble]

Remember that DIS is not representative, but is a biased sample---DISers tend to be more "planners" than the average WDW guest.