Monthly Payment AP for WDW, US AP to be announced next week? (now confirmed)

[MichWolv]

I find it surprising that a monthly payment plan actually results in that many more people getting AP's. I won't doubt it because from what it hear, it did have that affect at DL.

Simply put, if you can economically afford the monthly plan, you can afford to pay it all at once, just starting a year later. Save up the right amount each month, then when you have enough, buy the AP and start saving for next years'. :shrug: But apparently, it makes a difference to a good number of people, and I do think that more APs might just maybe lead to TDO doing more of the kinds of things that Disneyland does, which would be good thing, in my opinion.

I am a bit disappointed, as I am sure that Disney will (implicitly, not explicitly) raise the price of the APs to accomodate the fact that they'll get their money later. I will of course opt for monthly payment (you'd be silly not to, unless there were a discount for paying up front), but I suspect that interest rate I will be implicitly paying would be more than I'd otherwise desire to pay. A small price to pay if it results in a more attentive management.

 

[Monty]

Is the "utility bill" + ID a new development? I know that friends of mine had difficulty getting the temporary resident pass at the RMV even though they own a Condo - is this Disney's way of circumventing new Florida law?

I have seen it before, but a look at Disney's site and it's not included:

Proof of Florida Residency Proof of Florida residency is required—you must provide any of the following:

• Florida driver′s license
• Florida state-issued ID card (must have Florida address)
• Florida voter′s registration card with corresponding picture ID
• A college ID for a Florida college
• Florida-based military ID

My first quote was from http://orlando.about.com/cs/disney/l/blresident.htm

I can't believe they could refuse if you provided a utility bill and ID though, someone new to Florida wouldn't necessarily have any of what's listed right away.

 

[Monty]

I find it surprising that a monthly payment plan actually results in that many more people getting AP's. I won't doubt it because from what it hear, it did have that affect at DL.

Simply put, if you can economically afford the monthly plan, you can afford to pay it all at once, just starting a year later. Save up the right amount each month, then when you have enough, buy the AP and start saving for next years'. :shrug: But apparently, it makes a difference to a good number of people, and I do think that more APs might just maybe lead to TDO doing more of the kinds of things that Disneyland does, which would be good thing, in my opinion.

I am a bit disappointed, as I am sure that Disney will (implicitly, not explicitly) raise the price of the APs to accomodate the fact that they'll get their money later. I will of course opt for monthly payment (you'd be silly not to, unless there were a discount for paying up front), but I suspect that interest rate I will be implicitly paying would be more than I'd otherwise desire to pay. A small price to pay if it results in a more attentive management.

People often can't "save up" despite technically being able to afford whatever they're saving for. It's easier on the will power to make a small required payment every month than to voluntarily save and keep from spending on other things.

Human psychology sadly has little or nothing to do with fiscal responsibility. :lol:

I have no problem saving for things, but I've seen people who have way higher incomes than I who live pay check to pay check and can't spend anything on vacations... :shrug:

 

[devoy1701]

People often can't "save up" despite technically being able to afford whatever they're saving for. It's easier on the will power to make a small required payment every month than to voluntarily save and keep from spending on other things.

Human psychology sadly has little or nothing to do with fiscal responsibility. :lol:

I have no problem saving for things, but I've seen people who have way higher incomes than I who live pay check to pay check and can't spend anything on vacations... :shrug:

funny...as I hear on the radio and news about how these new credit card laws have come into effect and how it's going to help consumers (they should have just read the terms of the credit card in the first place) and it will also cramp the lifestyles of alot of college students i can't help but be amused. Here I am a college student of 21 and I signed a contract to build my first house last month because I have been fiscally responsible and understand the value of money.

I never understood the concept of feeling as though you deserve to buy things that you can't afford.

 

[Monty]

funny...as I hear on the radio and news about how these new credit card laws have come into effect and how it's going to help consumers (they should have just read the terms of the credit card in the first place) and it will also cramp the lifestyles of alot of college students i can't help but be amused. Here I am a college student of 21 and I signed a contract to build my first house last month.

I never understood the concept of feeling as though you deserve to buy things that you can't afford.

I agree. My son will graduate debt-free from University when the time comes because I chose to save for his education starting the day he was born. I am carrying minor debt myself, but can be solvent almost instantly if necessary [or should I die]. It always disturbs me to see people who are much "better off" than I who would leave their families saddled with debt.

 

[EPCOT Explorer]

I love that this thread has devolved into financial preaching...:hurl:



:lol:


The way I see it.... If I can afford it from month to month easily, rather than having to save up for a huge chunk of change, that's the way for me, and it's my choice. :lol:


Hopefully what I'll end up doing, too.


Now...about that Car.:ROFLOL:

 

[need2go2wdw]

I love that this thread has devolved into financial preaching...:hurl:



:lol:


The way I see it.... If I can afford it from month to month easily, rather than having to save up for a huge chunk of change, that's the way for me, and it's my choice. :lol:


Hopefully what I'll end up doing, too.


Now...about that Car.:ROFLOL:

Amen to that! :sohappy:

 

[EPCOT Explorer]

Amen to that! :sohappy:

Thank you.

 

[majortom1981]

hmm

I hope this is open to at least dvc members also.

 

[Monsterfan99]

This is a great idea and will work perfect for me with moving down there in July and AP up in August. The only real downside I see, and why this is a FL only program, is how many people will not make payments after the first month or two. I was expecting a deposit of something around 40-50% of the AP price then payments.

My one question (if this does happen) is if you can use the Give a Day, Get a Day ticket as a the "deposit" that is required?

 

[markc]

They absolutely can, and they will refuse a utility statement. There's no excuse for anyone new to Florida (but a valid resident) not to have any of those items within the first week of their residence. By law, they are supposed to change over their drivers license within the first ten days (I believe) to a Florida one from their new state. Chances are, if you dont have time to go switch your license, then you dont have time to go to WDW (or if you do, your priorities are slightly off track there).

I can't believe they could refuse if you provided a utility bill and ID though, someone new to Florida wouldn't necessarily have any of what's listed right away.

 

[markc]

For those of you complainig about the payment plan being only offered to FL residents - it's quite simple as to why this is. As this is not a true line of credit or a loan (Disney is not a financial institution), they can not send a collection agency after anybody who chooses not to carryout the remainder of their debt nor can they send it to a credit agency for reporting as they do not have your social security number to do so. As such, they remain powerless for those who want to default.

Can you imagine how many unscrupulous out of state/international guests coming to WDW would use this payment plan, and then cancel it as soon as they left WDW (leaving them with only the initial one day payment?!). The idea behind offering it to FL or CA Residents for DL is that there is less incentive for them to default on this promise as they have a higher likelihood of wanting to return throughout the year versus somebody out of state that does not have the ability to return so easily.

Yes - it sucks. But as we've seen, people are quick to default on their loans, therefore Disney can only offer this to a small segment of the population. Dont like it? Move to Florida..lol

 

[markc]

Maybe because WDW is more of an "international" and bigger destination, they will.

That's exactly why they wont offer it. Too much risk for run-aways and no foreign jurdisticion to collect unpaid fees.

 

[markc]

I agree. A WDW AP isn't something that you should try to fit into your monthly budget. Make your own monthly payment plan if you really want and put in x amount of dollars into a savings account...after a year you'll have enough to buy your AP all in one sum. .

I respectfully disagree. Your option of paying it all at once after saving for a year is fiscally irresponsible. An intro to finance class in college will teach you, quite simply, the value of money is linked to the time you have it. The longer you possess it, the more value it is (or the more valued it becomes). Why throw away $450 (a huge sum for a small pass) when you can pay it off slowly and still keep your money? Unnecessarily tieing up money is stupid. If something offers a 0 percent interest rate or 0 charges in paying a larger charge monthly, then its smart to do so.

The bigger issue that you are trying to get at are people who are irresponsible with their money and can not afford this pass, even though they will participate in the month to month payment plan. That's a bigger fish to fry (personal fiscal irresponsibility), and this payment plan is far from an enabler to introduce people to that problem.

 

[rangerbob]

I agree with the monthly payments also. I was hoping that Disney would go through and have a monthly payment plan but it wasn't coming fast enough. I kept trying to wait but couldn't any longer. The taxes came in so I purchased them since I had the money. I would rather pay monthly like I do for Universal and SeaWorld. It is much easier for me to plan for a monthly payment for the park rather than attempt to save up and purchase when I have the money.

 

[PoohsGang]

I agree. My son will graduate debt-free from University when the time comes because I chose to save for his education starting the day he was born. I am carrying minor debt myself, but can be solvent almost instantly if necessary [or should I die]. It always disturbs me to see people who are much "better off" than I who would leave their families saddled with debt.

What does your son being debt free have to do with financing a annual pass?

This whole thing has turned into a Financial Planning Topic, Perhaps we should have an Edward Jones Seminar on how to get the best gain on your Disney Annual Pass Funds......

How to get the most of your annual pass???? How should I invest my annual pass funds for the best return? If i cancel my annual pass will I get a penalty???
Should I put my annual pass funds in aggressive or a moderate portfolio, so many questions about my 300.00...... I have an appointment with my Financial advisor today.

Relax people, some will finance it and find it easier some will not.......


Remember what the topic was,??? what was it ask yourself that now without looking at the post heading.

 

[devoy1701]

For those of you complainig about the payment plan being only offered to FL residents - it's quite simple as to why this is. As this is not a true line of credit or a loan (Disney is not a financial institution), they can not send a collection agency after anybody who chooses not to carryout the remainder of their debt nor can they send it to a credit agency for reporting as they do not have your social security number to do so. As such, they remain powerless for those who want to default.

Can you imagine how many unscrupulous out of state/international guests coming to WDW would use this payment plan, and then cancel it as soon as they left WDW (leaving them with only the initial one day payment?!). The idea behind offering it to FL or CA Residents for DL is that there is less incentive for them to default on this promise as they have a higher likelihood of wanting to return throughout the year versus somebody out of state that does not have the ability to return so easily.

Yes - it sucks. But as we've seen, people are quick to default on their loans, therefore Disney can only offer this to a small segment of the population. Dont like it? Move to Florida..lol

That's a very good point about the Monthly Payments only being available to FL residents. I could see many people wanting to pay the initial $50-$60 for the first month's payment to use it for their vacation. They should require a initial payment of half or something.

What does your son being debt free have to do with financing a annual pass?

This whole thing has turned into a Financial Planning Topic, Perhaps we should have an Edward Jones Seminar on how to get the best gain on your Disney Annual Pass Funds......

How to get the most of your annual pass???? How should I invest my annual pass funds for the best return? If i cancel my annual pass will I get a penalty???
Should I put my annual pass funds in aggressive or a moderate portfolio, so many questions about my 300.00...... I have an appointment with my Financial advisor today.

Relax people, some will finance it and find it easier some will not.......


Remember what the topic was,??? what was it ask yourself that now without looking at the post heading.

Unfortunately so many people in this country need lessons on personal finances and things like monthly payments for theme parks in no way helps.

I respectfully disagree. Your option of paying it all at once after saving for a year is fiscally irresponsible. An intro to finance class in college will teach you, quite simply, the value of money is linked to the time you have it. The longer you possess it, the more value it is (or the more valued it becomes). Why throw away $450 (a huge sum for a small pass) when you can pay it off slowly and still keep your money? Unnecessarily tieing up money is stupid. If something offers a 0 percent interest rate or 0 charges in paying a larger charge monthly, then its smart to do so.

technically no. in my "intro to finance" class we learn that the amount of money you have grows because the value of each individual dollar drops because of inflation. But my comment had nothing to do with the time value of money and everything to do with living within your own means and not over extending yourself. A very small percentage of the people in this country have a savings account or any significant savings and someone not having to paying $450 for a pass all at once means they'll put $50 towards a pass right away and put $400 towards other needless $h!t, not hold onto it and let it grow.

 

[I-4Warrior]

This would be HUGE for me. Every April when I renew, I have the dread of stacking somewhere shy of a grand on a credit card or taking a big chunk out of savings. This will at least afford breathing room instead of a nasty one-time hit.

 

[Monsterfan99]

technically no. in my "intro to finance" class we learn that the amount of money you have grows because the value of each individual dollar drops because of inflation. But my comment had nothing to do with the time value of money and everything to do with living within your own means and not over extending yourself. A very small percentage of the people in this country have a savings account or any significant savings and someone not having to paying $450 for a pass all at once means they'll put $50 towards a pass right away and put $400 towards other needless $h!t, not hold onto it and let it grow.

Or some people are smart enough to realize that paying the $450 over a period of a year with not being charged interest means they can earn interest on their money in a savings account. Anyone with a half a mind would be smart enough to realize this.

There is no reason to take a righteous attitude towards people using an interest-free Disney AP payment plan. Most people put it on a credit card anyways, so at the very least, they saves those same people money who do not pay it off at the end of the month. That makes this a win-win for everyone.

 

[puntagordabob]

I wish they would offer this for people living outside of Florida.

If you are a DVC Member, MAYBE! But for all others outside of Florida: Most Definitely NO! If you want the benefits of living in Florida then please feel free to move HERE.

More APs = More Opinion = More progress.


I REALLY like this. :lol:

Absolutely!!!

I hope this is open to at least dvc members also.

I do not believe that this would be unreasonable...