(Probably) Dumb question about booking onsite

[Mama Mouse]

So I've stayed onsite once but didn't book that. I'm about to book onsite and I keep reading threads that refer to only paying a portion of the reservation and then the rest closer to trip time. I always tend to pay for my entire reservation so that it's out of my hair.

What's the benefit of this? Is this to do with a cancellation policy? I feel like it should be obvious but I'm reading and not seeing any benefit.

 

[msmama]

Assuming you're going with a package. The deposit is $200, the balance is due no later than 60 days before your trip. I think a lot of people don't pay the whole thing because they don't have all the money at the time of booking. The only reason I could think of for NOT paying (and why don't) is because then I get to keep the money in my bank account longer and earn a little bit more interest (it's in the pennies, but still better than nothing).

Some people stock up on gift cards and pay with those. If you do have to cancel, everything is refunded in the same way it was paid for. So another reason for waiting could be that you don't have go get refunded on GC's (if you're paying that way).

If you are booking room only, you pay for one night and the rest is due at the time of check in.

But just so you know, if you are booking a package all you HAVE to pay now is the $200 deposit.

 

[Mama Mouse]

Assuming you're going with a package. The deposit is $200, the balance is due no later than 60 days before your trip. I think a lot of people don't pay the whole thing because they don't have all the money at the time of booking. The only reason I could think of for NOT paying (and why don't) is because then I get to keep the money in my bank account longer and earn a little bit more interest (it's in the pennies, but still better than nothing).

Some people stock up on gift cards and pay with those. If you do have to cancel, everything is refunded in the same way it was paid for. So another reason for waiting could be that you don't have go get refunded on GC's (if you're paying that way).

If you are booking room only, you pay for one night and the rest is due at the time of check in.

But just so you know, if you are booking a package all you HAVE to pay now is the $200 deposit.

This helps a lot. Thanks!

We are doing room only. Do you know if I can pay the entire balance instead of just one day if I want to?

 

[Happyjen27]

I feel silly saying this right now, give the dismal state of the interest rate, but I pay only the $200 at the time of booking (plus the 1000-1200 it costs for airfare, which must be paid at the time of booking) and then pay the rest later. For those months in between I just keep the money in my savings account earning interest for me.

If interest rates were better, it would make more sense. I'm sure the monthly interest I'm earning on that $5000 is only like $0.32 for 9 months. If that. Even so, if I saw a quarter on the road, I would pick it up, so might as well make myself a quarter and some pennies, right?

 

[HM]

The advantage to not paying it all upfront, is that you keep that money in your account, accruing what little intersest it will for the time until you 'have' to pay up at Disney. Otherwise, you're letting them use your money to do the same.

 

[Mama Mouse]

I guess I didn't think of it that way because we don't tend to book anything very far out. Our trip is in just over three months and the interest I'd earn would be tiny-but, you're right, still mine and not negligible.

 

[Cheshire Figment]

If you have room-only you only have to make a minimum deposit equal to the first night room and tax and you pay the balance on check-in. You can cancel for a full refund up until five days prior to check-in.

If your reservation is a package which is room plus at least tickets (may include dining and other items) your minimum required deposit is $200, and you must pay in full at least 45 days prior to check in.

Note in both of the above the deposit amount is the minimum that you must pay at the time of reservation. There is nothing to prevent you from making additional or full payment at the time of the reservation, or at any intermediate date