Declining the 15 extra years

[simzac]

I wasnt around for original OKW sales, but I would imagine you are basically just extending 15 years for just about the same price per year(actually probably even less) some of the very first OKW buyers paid

say you bought an original for $50 per point for 50 years(if thats even as low as it was)
this basically comes out to $65 per point for 65 years

I would bet the majority of OKW owners paid even more than $1 per point per year

I bought OKW just last year. Paid $78 per point. If I wanted a longer contract I could have bought SSR at $93 or so, basicly the same as the extended price at OKW. I see your point. You just don't see mine. So I'll pose the question this way. What have you bought in your lifetime that you could not use for another 35 years(besides a funeral plot)?

 

[sjdisneywedding]

I bought OKW just last year. Paid $78 per point. If I wanted a longer contract I could have bought SSR at $93 or so, basicly the same as the extended price at OKW. I see your point. You just don't see mine. So I'll pose the question this way. What have you bought in your lifetime that you could not use for another 35 years(besides a funeral plot)?

well, my answer would be my SSR & AKV contracts. yes I get use out of it now, but I am also paying up front for use in 35+ years. If I wanted something just for right now, I would have stuck with regular rooms or renting.

I get what you mean, but its still the same ole arguement, if you think your gong to use it then its a good deal. they are only $1 per point, show me anywhere you are going to get that price per point

I dont look at it as buying something to use in 35 years, you already bought the original points, this is simply extending the use of those points.

 

[Boo66]

I was not aware of all these issues with declining the extension. Thanks to all of you for the info.

Decided not to extend our OKW contract when we were there this past October. IMHO the Disney quality has taken a nosedive in the past several years. OKW is not aging well. I am very concerned about what to expect in years to come.

After our trip, I called member services to let them know how disappointed we were. I was given the following email address for members to voice their opinions about DVC:

dvcmembersatifactionteam@disneyvacationclub.com

I sent them a detailed letter telling them of our concerns. I am happy to report that an actual person did call to discuss the situation with me. The CM was very nice and told me that thet take these comments very seriously and our issues would be passed along to the appropriate parties. What troubled me is that based on my conversation with this CM, it seems that the "Member Satisfaction Team" is undergoing an expansion. My comment to the CM was "Doesn't that tell you something?" I would rather see them return to the quality we've all grown accustomed to instead of expanding the complaint department!

Sorry if I am running on here. My point is this: If you have issues with DVC, please let them know! It is my understanding that the member satisfaction team DOES NOT read these (or any other) boards.

 

[disney54us]

We to have decided to decline the offer, base on how old we'll be if we are still living, it would not be worth it. We would rather take the money and buy additional pts. that we could put to use now. I didn't know that it was going to be such a big deal to decline, so I'm glad I read the threads. Thanks, for putting the member satisfaction email address out there. We have also seen in ten years of membership seen a decline in services, etc. It is true the boards are a place to share info and sometimes complain but that will not help change things if our dissatisfaction is not addressed to DVC. So thanks for the reminder.

 

[Deb & Bill]

well, my answer would be my SSR & AKV contracts. yes I get use out of it now, but I am also paying up front for use in 35+ years. If I wanted something just for right now, I would have stuck with regular rooms or renting.....

I don't think you are still understanding it. We all bought OKW originally and we knew it ended in 2042 (I'll be 92 in 2042). Just like you knew when SSR and AKV would end. So we knew that we probably wouldn't be using it in the final years, but we would get many years up front before we would pass it off to our son or sell it. However, with the extension. We already know we won't be using OKW past 2042. So why bother with the extension? I can put that money to a much better use now than pay for time I will never use.

And if I can sell my remaining OKW contracts for more than I bought them (and that won't be hard), I still come out ahead.

 

[Mtnman44]

Think about it. When you buy a DVC contract you get X number of points right NOW to use and next year and the next....

With the contract extention you get NOTHING now, nothing next year, NOTHING unitl 2042!!!!

Big difference.

Sure you will get "some" increase in resale market value but how much? hard to say. All evidence suggests for the foreseeable future it will be much less than a $15 per point increase.

I cant understand how anyone who owns in the first place can even use that as an excuse. when you buy AKV you are paying NOW for 50 years worth of points, you can only use 1 year at a time(well maybe 3 at at time)

you are simply extending the contract you already have at a pretty good discount at that.

evryone who ever bought DVC is in the same boat as far as knowing what they will be doing in 35 years or if Disney is even there

 

[sjdisneywedding]

I don't think you are still understanding it. We all bought OKW originally and we knew it ended in 2042 (I'll be 92 in 2042). Just like you knew when SSR and AKV would end. So we knew that we probably wouldn't be using it in the final years, but we would get many years up front before we would pass it off to our son or sell it. However, with the extension. We already know we won't be using OKW past 2042. So why bother with the extension? I can put that money to a much better use now than pay for time I will never use.

And if I can sell my remaining OKW contracts for more than I bought them (and that won't be hard), I still come out ahead.

ohh I understand the point. maybe you missed my post but I said: I agree that if you know you are not going to be able to use it then of course you dont buy., No problem, no use, no buy

BUT if you could use it or think you could use or think your heirs could use THEN its absolutely one of the best deals price wise I have ever seen for DVC

 

[sjdisneywedding]

Think about it. When you buy a DVC contract you get X number of points right NOW to use and next year and the next....

With the contract extention you get NOTHING now, nothing next year, NOTHING unitl 2042!!!!

Big difference.

Sure you will get "some" increase in resale market value but how much? hard to say. All evidence suggests for the foreseeable future it will be much less than a $15 per point increase.

I get that but you are comparing different things. You already have the points to use now. You already bought them in the past for OKW. you are nowsimply adding a value to those existing points.


fact is you paid over $1 per point per year(probably closer to $2) for that contract and now you can add to that contract for exactly $1 per point per year.

besides the fact you were able to hold that money for what 15 years!!!

If you can use the points or have an heir that can then I cant believe people wouldnt jump all over this

 

[LIFERBABE]

We will be declining also.

Totally bad deal and for those wishing to extend, just wait for those extended contracts to start hitting the resale market and they wont be worth much more.

As much as I love OKW, it will be hard to compete with all the new construction with longer expiration dates.

 

[sjdisneywedding]

We will be declining also.

Totally bad deal and for those wishing to extend, just wait for those extended contracts to start hitting the resale market and they wont be worth much more.

As much as I love OKW, it will be hard to compete with all the new construction with longer expiration dates.

well SSr contracts are anywhere between 10-20 dollars more than OKW so if thats what you mean by not worth much more, then i gotcha

so as long as you have 10 or 20k sitting around as opposed to 1-2 for an extension, then yes terrible deal

you can alomst guarentee the xtended ones will go for more than $15 over the otheres.

 

[sjdisneywedding]

As much as I love OKW, it will be hard to compete with all the new construction with longer expiration dates.

plus that doesnt even make sense

okw will be one of the ones with a longer expiration date

 

[Deb & Bill]

When dues are $10-15 a point in 2042, I'm not going to saddle my son with any additional costs.

 

[sjdisneywedding]

When dues are $10-15 a point in 2042, I'm not going to saddle my son with any additional costs.

Im not sure what your point is, Im agreeing with you that everyone needs to evaluate their own situation

theres plenty of valid reasons to extend, plenty not to

the only point I am making is that price of points is a great deal if you are interested

in the example you gave one would evaluate the dues against whether or not that person would want and use DVC.
10-15 dollar a point dues is not the reason, the reason would be your son would not use dvc enough to cover dues of $10-15

somebodys son or daughter or grandchildren may love to be saddled with 10-15 dollar dues if they are going to WDW every year

its all based on your personal situation

 

[dianeschlicht]

Im not sure what your point is, Im agreeing with you that everyone needs to evaluate their own situation

theres plenty of valid reasons to extend, plenty not to

the only point I am making is that price of points is a great deal if you are interested

in the example you gave one would evaluate the dues against whether or not that person would want and use DVC.
10-15 dollar a point dues is not the reason, the reason would be your son would not use dvc enough to cover dues of $10-15

somebodys son or daughter or grandchildren may love to be saddled with 10-15 dollar dues if they are going to WDW every year

its all based on your personal situation

What you say is true, so why keep beating it further. Just bear in mind that what the rest of us who are not extending are saying is also true.

 

[disney54us]

This is true, what makes sense for some will not for others. It is for the OKW owners to figure out. Obviously, if you own OKW and it was not a resale, most are thinking about the age they would be when those 15 years come around and if they will still be here. I don't think that anyone is saying, price wise it would not be a good deal, but is it really? considering, will we be able to use it? If there are some (and I know when we first bought in '97') a few 20 something yr olds that bought DVC it may be worth it. But for the rest who bought in there 40/50 years come on I'll be dead! My children will get my 520pts. and I am sure we will be adding and they will get that.
Thank you Diane for your post, have read a few and I wish we were going to be there for your meet and greet over Thanksgiving. Enjoy, and for the first time we are considering it for next year. So I may be asking for some advice.
PS would have put your thread above, but just don't have all that computer know how. I can't even get my sig's right! I manage SSR, don't know how, but also wanted OKW and VB

 

[salmoneous]

well SSr contracts are anywhere between 10-20 dollars more than OKW

Um, no. Take a look at the passes ROFR thread and you'll see that similar contracts at the two resorts sell for about $5-6 difference in price. Or take a look at what Disney was charging for 2042 OKW points vs SSR points and you'll see it was $2/point different.

 

[Mtnman44]

What is this based on? Currently, there is no evidence to support this. 2057 resorts in general are not selling for $15 per point more than 2042 resorts. As has already been pointed out, SSR is a close match for the extended OKW. In fact, some 2042 resorts like BCV are selling for almost $15 MORE than SSR right now. OKW will most likely parallel SSR in re-sale value.

Among 2042, OKW was always the lowest resale value. It is reasonable to say that among 2057 resorts, it will stay among the lowest resale value. It is impossible to say IF or WHEN the resale value of a 2057 OKW will be $15 over a 2042 OKW. That may be 20 years from now! you are better off keeping your $15 and just selling for the lower price then, if you plan to sell.

If you plan to use OKW past 2042, then the $15 might end up having some value to you. However, I'd rather simply do an add on and start using the extra points right now.

you can alomst guarentee the xtended ones will go for more than $15 over the otheres.

 

[sjdisneywedding]

What you say is true, so why keep beating it further. Just bear in mind that what the rest of us who are not extending are saying is also true.

Hi Diane Im not trying to beat it in further, I realize and agree with everything you say, but many people keep saying that price wise its not even I good deal, thats all Im am trying to see why people feel that way

thats all no biggy

it just seems as though some are mad at the way Disney is handling it and are going negatively across the whole board, saying prices should have been offered at $5 and the like

 

[sjdisneywedding]

What is this based on? Currently, there is no evidence to support this. 2057 resorts in general are not selling for $15 per point more than 2042 resorts. As has already been pointed out, SSR is a close match for the extended OKW. In fact, some 2042 resorts like BCV are selling for almost $15 MORE than SSR right now. OKW will most likely parallel SSR in re-sale value.

Among 2042, OKW was always the lowest resale value. It is reasonable to say that among 2057 resorts, it will stay among the lowest resale value. It is impossible to say IF or WHEN the resale value of a 2057 OKW will be $15 over a 2042 OKW. That may be 20 years from now! you are better off keeping your $15 and just selling for the lower price then, if you plan to sell.

If you plan to use OKW past 2042, then the $15 might end up having some value to you. However, I'd rather simply do an add on and start using the extra points right now.

actually I dont agree at all

I looked myself at the resales and they were anywhere from $10-20 more per point for basically the exact same contracts between OKW & SSR. once those extensions go into place, not only will the extended ones sell for more what they are now but I expect the non extended to start selling for less than they are now.

It will never be 20 years until that $15 difference is noted, sorry but never.

you can twist the numbers all you want, throw every possibility out there that may happen, but you will never convince me that $15 a point for 15 years is a bad deal if you think you are going to have some use for the points, it really is one of the most ludicrous things I have ever heard

 

[sjdisneywedding]

Um, no. Take a look at the passes ROFR thread and you'll see that similar contracts at the two resorts sell for about $5-6 difference in price. Or take a look at what Disney was charging for 2042 OKW points vs SSR points and you'll see it was $2/point different.

you cant look just at that thread, theres no dates, months but no yr

look at that combined with the current resales

but even looking just at that

i see anywhere from low to mid 70's for OKW and low to mid 80's for SSR, for the most part of course without getting too exact.

so that about an average of $10 and thats now, you dont think that difference is going to grow with 15 extra(or less) years.

I do