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puffkin 01-25-2013 12:31 PM

Definition of stripped or loaded contract?
 
What do you consider a stripped or loaded contract? Just wondering if my assumptions are correct so that I make sure I am comparing apples to apples when researching resale. Thanks :goodvibes

Deb & Bill 01-25-2013 12:35 PM

Quote:

Originally Posted by puffkin (Post 47304708)
What do you consider a stripped or loaded contract? Just wondering if my assumptions are correct so that I make sure I am comparing apples to apples when researching resale. Thanks :goodvibes

Stripped would be no current year points and possibly no points in the next Use Year either. Loaded would be all current points and most of the last Use Year points are either banked or able to be banked.

Cruznmore 01-25-2013 01:10 PM

Wouldn't 3 categories make sense?

1) Stripped - no current year points ( and possibly next) available
2) Normal - all current and future points avail
3) Loaded - banked points from prior years along with all current and future points

How you value the extra or missing points is subjective but I have seen the rental price of $10 thrown around often.

lodge 01-25-2013 01:16 PM

There's just no adjective added for "normal"... it's just normal. Like a red sky at night, that has the descriptor (adjective) of "red"- as it's not "typical" or "normal".:scratchin

puffkin 01-25-2013 01:23 PM

I am looking at a contract with a Feb use year that has 1/2 of the 2013 points left (no banked and all future). To me that would be a slightly less desirable but still normal contract...but others would consider it stripped.

ELMC 01-25-2013 01:36 PM

"Loaded" or "Stripped" describe opposite ends of continuum. One the loaded side you have a contract with 2 years worth of banked/current points and a full compliment of points coming up this year and all years in the future. That's as good as it gets. On the stripped side you have a contract with no current year's points and all of next year's points have been borrowed and used. That's as bad as it gets. Everything else falls somewhere in the middle, and I think that different people would use different adjectives to describe contracts based on where they fall.

LisaS 01-25-2013 01:36 PM

To me, "stripped" means no banked, no current and the next UY's points have also been borrowed and used. In other words, there are absolutely no points available at all to be used for a reservation at this time.

"Loaded" means all of the prior UY's points were banked and are intact, all current UY points and next UY's points are intact. In other words, the maximum possible points are available.

Lizard Valley 01-25-2013 06:53 PM

To me, right now a "loaded" contract would have 2 years' worth of points that have their mf's paid for by the seller. For example, an Aug, Sept,Oct or Dec U/Y with all 2011 points banked, all current 2012 points banked (and paid for without being reimbursed by the buyer), plus all 2013 coming in less than a year. It would read like: 160 Oct; 12-320; 13-160.

A less "loaded" contract would be an earlier U/Y (like Feb, Mar, Apr), even if it has all 2012 points banked. It would read like 160 Feb; 13-320; 14-160.

In the first example, it is unlikely that the seller would expect 2011 and 2012 mf's to be reimbursed, and the 2013 would be negotiable. When you get the contract, you'd have 320 points to be used (or rented out for 3200$) by Sept 30th - when your next U/Y starts - and still get a full allotment of points for a trip after Oct 1st 2013.

In the second example, you'd only get 2012 points (probably without reimbursing mf's), and negotiate 2013 mf's. When you get the contract, you'd only have 160 (1 year's worth of) points to be used (or rented out for 1600$) before your next U/Y starts.

So, IMO, I'd find the later U/Y's could be potentially more loaded than the earlier U/Y loaded contract. Superloaded?

Clear as mud?? :scratchin


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