Paying dues?

[walkdmc]

I just bought BLT on the resale market.

I already paid for 2010 dues during closing.

I thought I had until Feb. 2011 to pay for 2011 dues. I plan on paying them in one lump sum. I hate monthly payments for anything. However, I've read a few posts here where people mention paying their dues monthly. I just want to make sure that's the option they chose and that if I want, I can still just pay at one time, in Feb. of the year in question.

 

[hellerjw]

I believe DVC expects a lump sum payment by default unless you make arrangements for monthly automatic drafts from a US checking account. If it was going to be setup for monthly payments you should have had to fill out the appropriate paperwork before closing. If I'm not mistaken they explicitly ask you to verify how your payments will be made as part of the paperwork you are required to fill out. At least that is the case when financing a contract, I'm not sure if it works the same if you pay cash.

Once your account is active and you are setup on the member website you can view your dues statement, make payment(s), etc online.

 

[nukker7]

I agree paying one lump sum seems to be better. Get it over and done with. I totally understand making monthly payments and may do that one day if needed.

 

[DebbieB]

Dues go by calendar year, not by use year. The due date is January 15 with a grace period to February 15, regardless of use year.

 

[Disneypubgal]

I believe DVC expects a lump sum payment by default unless you make arrangements for monthly automatic drafts from a US checking account. If it was going to be setup for monthly payments you should have had to fill out the appropriate paperwork before closing. If I'm not mistaken they explicitly ask you to verify how your payments will be made as part of the paperwork you are required to fill out. At least that is the case when financing a contract, I'm not sure if it works the same if you pay cash.

Once your account is active and you are setup on the member website you can view your dues statement, make payment(s), etc online.

I don't think you have the option to fill out the paperwork on a resale... only on a purchase directly from Disney. However, I think you can contact Member accounting to set up the monthly if you want.

 

[drusba]

With resales, all remaining dues for calendar year must be paid at closing. You can then start monthly pay with following calendar year by applying to do so with Disney after closing. As far as paying dues go, you have two options: pay all once a year by Feb 15 or have monthly payments via automatic withdrawal from a checking account. The advantage of paying all at once is getting it over with; the advantage of monthly payment is that there is no interest attached for paying over time and thus you pay the same amount over 12 months that you would pay in one lump sum early in the year and thus you are getting the benefit of the time value of money. Even if you have automatic monthly withdrawal, you can always go on-line any time of year and pay-off any remaining dues for the year.

 

[nukker7]

With resales, all remaining dues for calendar year must be paid at closing. You can then start monthly pay with following calendar year by applying to do so with Disney after closing. As far as paying dues go, you have two options: pay all once a year by Feb 15 or have monthly payments via automatic withdrawal from a checking account. The advantage of paying all at once is getting it over with; the advantage of monthly payment is that there is no interest attached for paying over time and thus you pay the same amount over 12 months that you would pay in one lump sum early in the year and thus you are getting the benefit of the time value of money. Even if you have automatic monthly withdrawal, you can always go on-line any time of year and pay-off any remaining dues for the year.

I really do enjoy their flexibility. And for a company not to charge interest or finance....THats cool!

 

[kristenrice]

I pay my dues monthly...to myself!

I divided our estimated dues by 26 (paychecks per year) and I have that amount direct deposited into a special savings account. Then, when January rolls around, I can pay in one lump sum (with my Disney Visa!) and earn points. It works out well...I am still making "monthly" payments and I am earning a little interest along the way.