Question about borrowing points for Villas at Grand Floridian

[Aragoth]

So here's the background - we've placed a down payment on a contract for VGF for 160 points. We're planning our first stay, which will be in January of 2015. We're receiving 160 points at the time of closing, and then our use year starts in April of 2014, so we will receive another 160 points then. We would like to book a two bed room villa at VGF, which would cost around 340 points (understanding that 2015 numbers have not been released yet). We would like to book 11 months out, which would be February of 2014.

My question is, is the ability to borrow points based on the time of the reservation or the time of the stay? If the time of the reservation (2/14), we would have only the original 160 points, and we would be able to borrow 160 additional points, for a total of 320, which would not be enough. If the time of the stay (1/15), we would have the original 160 points (banked), the 160 points we would receive on 4/14, and we could borrow the additional points from the next year).

I'm sorry if I'm missing something obvious, or if I'm misunderstanding anything -- I'm still researching the whole program.

 

[drusba]

In determining points you use and whether you need to bank or can borrow, wipe from your mind the day you call to reserve and think only about the days you will be at WDW. For a Jan 2015 trip to be reserved in Feb 2014, you will need to bank your April 2013 points by November 30, 2013 (those are ones you are getting at closing; I do not know when your closing will be but if there is any issue it may be past Nov 30, you need to call your sales rep now and set it up so that points are banked as part of the closing). Then when you call in Feb 2014, you will use those banked points, plus those from April 2014, which will be your "current" year points for the trip, and borrow 20 from April 2015 to complete the reservation on that Feb 2014 call.

 

[Aragoth]

Thank you - that is very helpful!

 

[Deb & Bill]

You currently have points from your April 2013 UY (that is the 160 you have). You have 160 more points from your April 2014 UY. Your Jan 2015 trip falls in your April 2014 UY (April 1, 2014 through March 31, 2015).

So with the banked 160 from April 2013 (watch your banking deadline like drusba suggests), the current 160 points from April 2014, and any borrowed points from April 2015 you should have enough points.

Banked 160 (April 2013)
Current 160 (April 2014)
Borrowed 20 (April 2015)
Equals 340 points for Jan 2015.

BUT, if you have to cancel that Jan 2015 reservation, you must make a new one to start and end before March 31, 2015 or else you will lose the borrowed points for sure (they would expire on March 31, 2015) and the current points unless you bank them by Nov 30, 2014. You would lose the banked 2013 points if you didn't use them by March 31, 2015.

 

[KAT4DISNEY]

Do you normally plan on traveling during the first months of the year? If so you might want to talk to your guide about a different UY than April (assuming you just signed the paperwork it still could be changed). Guides often don't mention that you can get a different UY than the default one they are selling.

If that is the normal time you visit WDW the issue could always be the one that Deb mentioned about late cancellations and having time to rebook with those points before they expire on March 31st. The April UY wouldn't be the end of the world but now is the only chance you get to select the UY and if there's a better one for your travel pattern I'd recommend at least considering it.

 

[Aragoth]

Thanks for the responses everyone. One follow-up question - closing is currently scheduled for mid-December. I mentioned banking the points at closing as drusba suggested, and our sales rep indicated "it would not be a problem." Does anyone have any idea as to whether I should expect a particular document to that effect? Or should I ask the sales rep to confirm it in a letter or e-mail (or include a letter confirming it myself when I return the all the signed documents.)

Has anyone every had a problem with this issue, or is it pretty routine?

 

[bumbershoot]

As far as I know, it's pretty routine.

 

[disneynutz]

Thanks for the responses everyone. One follow-up question - closing is currently scheduled for mid-December. I mentioned banking the points at closing as drusba suggested, and our sales rep indicated "it would not be a problem." Does anyone have any idea as to whether I should expect a particular document to that effect? Or should I ask the sales rep to confirm it in a letter or e-mail (or include a letter confirming it myself when I return the all the signed documents.)

Has anyone every had a problem with this issue, or is it pretty routine?

They won't write a letter, they don't use email for anything that could end up as a legal issue.

You are buying direct but closing in December? usually once you pay your deposit, your account is set up and points loaded by the next day. Then you can get them banked.

Bill

 

[KAT4DISNEY]

Thanks for the responses everyone. One follow-up question - closing is currently scheduled for mid-December. I mentioned banking the points at closing as drusba suggested, and our sales rep indicated "it would not be a problem." Does anyone have any idea as to whether I should expect a particular document to that effect? Or should I ask the sales rep to confirm it in a letter or e-mail (or include a letter confirming it myself when I return the all the signed documents.)

Has anyone every had a problem with this issue, or is it pretty routine?

DVC did a little more official change to this and did write it somewhere but I can't recall what document about late banking with a direct purchase. Since they did that I have not heard of any issues.

But you also won't have to wait until closing to bank. Your points will be loaded within a day or two of you making the purchase and once you get your member number you can then book or bank or borrow or whatever you would like.