using points for cruise...not a good deal

[jeanneg]

I booked my cruise last fall long before I had discovered this board. If I calculate the value of my cruise using $10.00/pt, I just realized I could have saved over $900 by paying cash and renting the points! Am I being stupid to use my points this way? We purchased the points nearly 10 yrs. ago with the intent to always use them ourselves, but now I'm learning that it would be more advantageous to rent them out! This is not something I had ever planned on doing, but it seems to make sense financially. Do you think alot of people buy into DVC with the intention of always renting their points?
Am I naive or what.....I'd like to think people are buying into DVC to use it for themselves but now I have second thoughts. Does anyone have an opinion on this?

 

[RweTHEREyet]

Hey Jeanneg, you and I didn't get to talk much at the DVC Meet at Remington Grill, but, you do know i am planning on hopping in your suitcase for your cruise, don't you?

I can tell you that I bought into DVC to use for me and my family. I also believe there are folks who buy with the intent to rent and profit. I frankly don't have enough points for myself and will probably rent sometime when I am in need. That is if I don't add on when BCV becomes available.

I am not sure what the majority do, maybe a poll would be in order. That is kind of an anonymouse way for people to put what they really feel without opening up themselves for an attack.

If it is not too late for you to cancel your points and pay cash, I sure would consider it. It doesn't look like the folks on the Rent Board have any trouble renting out their points.

 

[wdwendyd]

It doesn't seem fair that people who plan ahead wind up not getting discounts that are offered later. It seems they should get the best discounts of all! The only compensation I can see is that you didn't have to worry that the cruise you wanted would be sold out and maybe you got a better cabin.
We definitely bought figuring to only use our points ourselves. I do not want to ever have to rent them. If an emergency comes up, I can see that people might have to put there points up for rent but there is something about regularly seeing points for sale (rent) on ebay that just doesn't seem right.

 

[Lisa F]

I agree that using DVC points for a cruise is not the best way to stretch your points. If you are willing to go through the hassle of renting out points to pay for your cruise then that's definately the way to get the MOST value out of your points.

HOWEVER, in the case of jeanneg, you really have to ask yourself if it's worth it to do that. If you really look at how much your points COST you, assuming you bought in at $55/point (i don't know actual costs) and you pay around $3.90 for dues (which i think is high at OKW, again, I'm rounding liberally), those points actually COST you $4/point/year of usage. No discount in the world is going to beat that for the price of the cruise.

One example was something we were looking at... $2500 was the cash price for the cruise for 2 adults or nearly 400 points. At a cost of $4/point (not counting if you financed, or the opportunity cost and all of that stuff!), the price that you would've paid would be something like $1600. Because we bought in at a higher price and our membership is good for fewer years (42 instead of 50) for us the cost that we paid (in dollars/point/year + yearly dues) is more like $5.60/point which brings what the points cost us close to the price of the cruise.

In our case since those 400 points would be much better utilized by us at WDW (and we will use them for DVC accomodations) we decided to pay cash for the crusie (and MAY rent out some points to offset the price of the cruise, but maybe not).

If you are going to do a cruise instead of a WDW vacation then I say use your points and enjoy it. Don't feel bad, like people who are booking under these discount programs are getting a much better deal than you are... By being smart enough to buy into DVC when you did, you have already saved thousands (maybe tens?) over other people with all of those free park passes etc.

If it's worth it to you to rent out your points for $10/point and then pay cash for the cruise, that's an option too... but personally, if I'd bought into DVC 10 years ago I'd be much less likely to do that and more likely to just use and enjoy my points for something different, especially if it didn't mean forgoing a DVC vacation at some later date.

Lisa

 

[SENATOR K.]

I would agree with Lisa. We value our points closer to $5/pt.,cash out of pocket, excluding opportunity costs. While I agree that points go further at WDW than on DCL, I feel that they represent good value for a cruise. Of course, one can always choose to rent out at $10; if that's your bent, then you're better off paying cash on DCL. We purchased into DVC primarily to prepay our future vacations rather than to make money on resale of points. If money was the driving force, it would be cheaper for all of us to stay off-site and NOT invest in DVC.

 

[Bill K]

I am so confused when I try to figure out how many points will it take for the cruise.
Wife really wants to go and I may decide just to pay cash.

 

[SENATOR K.]

Bill, I think that the point structure for DCL is pretty straight-forward. You can login to the DVC site or consult with the printed listing in your members' book. The point usage primarily varies with the type of room which you choose; of course, you find the same differences paying cash.

 

[Rock'n Robin]

Bill, I've been looking into the cruise so I can give you my limited experience.
For the 3 day cruise, category 4 (one of the higher ones but they quoted it for us because we are a family of 5) it would cost us 480 points--165 for each adult, 50 for each child since they are all under 13.
But, you only have to use points for at least one adult. For our sailing time (late June-first week of July) the kids would cost $409 each and one adult would cost $1424. Of course instead of a category 4, we could book two category 10 rooms or a category 6 and a category 11, possibly save points.
Paying some cash assures enough points for next year's vacation, etc., but kind of defeats the purpose of the points--to not have to pay for accomodations. And it seems like a lot for 3 nights. The cruise sure sounds cool, though.

 

[deerh]

Hi, We cruised on points and paid for 1 child, and thought it was a good deal. REMEMBER-It also includes FOOD as well, you must factor that in as well figuring out the point cost, so I think DCL on points is a better deal than people say on this board.
Just me .02 cents worth.....
deerh

 

[jeanneg]

Thanks, Lisa, that's a good way of looking at it. After reading your post, I did the math and considering what we paid per point ($51) and our yearly maintenance($3.10), that's only a few cents over $4 per pt. per year----WOW! (and we were lucky enough to get the full 50 yrs. in addition to those free passes!) I never quite thought about it that way, but it sure puts everything in a different perspective.
Regarding the cruise, I now know that using points is not the smartest way to go, but I'll chalk it up to experience. Personally, I'm not really interested in going through the hassle of renting them out regardless of the profitability. However, using points to pay for the cruise poses some restrictions: you are not eligible for the "first time" cruiser credit promotion because they consider the DVC rate to be already greatly discounted(?) and you can't purchase that Amex Premiere Package (or whatever it's called) because you haven't charged the bulk of the cruise with the card. Considering all this, I think we will definitely pay cash for any future DCL vacation--probably take advantage of one of their special deals--and save our points for a
"home away from home" vacation, where the value is definitely a great deal!
P.S. to Janet: If you can fit in my over the door shoe holder,you can come!

 

[RweTHEREyet]

Look out diet, here i come

 

[gscott8075]

We are using points to pay for one adult and the other adult and two kids are cash.

Consider this....

Get the complete quote breakdown per person.

For regular season, Cat 10, Eastern Carribean, DCL quotes 799 per kid, DVC is 629 per kid.

An adult is 159 points or $1350 - which is the same via DVC or DCL.

So, I am spending 159 points and only paying for one adult and 2 kids - and the two kids are combine $340 less than DCL. So, $1350 + $170 + $170 = 1690 off the DCL cash price. $75 service fee knocks it down to $1615 and voila - $10 per point value!

 

[jeanneg]

It seems to me that the way to go would be to use DVC points for the adults and pay the DVC cash price for the kids. That alone would have saved me a bundle. Oh well, I'll know better next time....Right now my sailing date is too close (yippee!) to change anything!