Monthly Payment Plan

[Wendy Pleakley]

Paying for an annual pass over time, as you use it, is not the same as paying for a one-time event such as a trip and then paying it off later.

It's like saying you shouldn't go to the gym, have a phone, or cable, etc. unless you can pay for the year up front.

I pay for my phone each month and I use it ongoing. Why would paying a monthly fee to go to DisneyWorld be different?

 

[lazyboy97o]

That's absurd. Nobody must pay for everything all at once, and not doing so doesn't mean they can't afford it. Some CAN afford it even if it means budgeting wisely out of their paychecks in order to do so. That goes for anything, whether it's a house, a car, or a vacation. There are very few people in this world that can pay for everything up front. It's simply not realistic or practical to make that claim.

Saving up for a large purchase and then making the purchase does mean paying up front and being able to do so. It doesn't mean being able to make the purchase at any time on a whim.

 

[ToInfinityAndBeyond]

Edit: I edited out the theatrics.

By the way, I can certainly afford to splurge the $600+ I need for my pass at one time on my measly income. That doesn't mean it's the MOST economically sound decision. It's much more convenient to pay the exact same fee over time, leaving me with more cash in my pocket for any sort of unexpected expense that might come up, car/home maintenance, medical expenses, etc.

Many people cannot afford to spend the $5,000-15,000 (my rough estimates) that it costs to come to Disney with their family on a vacation out of their pocket at one time. I would wager to guess that the number of people who can afford to do that and actually visit WDW is probably under 10% of the people who visit.

 

[lazyboy97o]

I guess Disney is only for the 1%, guys. Let's pack it up and go home. If we can't pay for it in cash then we should just stay at home like the other trash, right?

By the way, I can certainly afford to splurge the $600+ I need for my pass at one time on my measly income. That doesn't mean it's the MOST economically sound decision. It's much more convenient to pay the exact same fee over time, leaving me with more cash in my pocket for any sort of unexpected expense that might come up, car/home maintenance, medical expenses, etc.

Many people cannot afford to spend the $5,000-15,000 (my rough estimates) that it costs to come to Disney with their family on a vacation out of their pocket at one time. I would wager to guess that the number of people who can afford to do that and actually visit WDW is probably under 10% of the people who visit.

Anyways, I don't come to these forums to discuss wealth disparity and to be honest, it really has nothing to do with the payment plan, considering the plan costs the exact same whether you pay a lump sum or over time. The point has been made undeniably clear: you disagree. We don't need any more commentary on your wealth.

I don't often read statements from people my age who have more money than they need, but it's incredibly sad to see how some people can be so disconnected from the reality of living in the real world. Not everyone is so entitled or fortunate.

So you think it's a good idea to get a personal loan or put a vacation on a credit card and pay it off later? Because if not, then people are paying out of pocket and should be able to pay at once. It doesn't mean being. Able to go on a Walt Disney World vacation at any moment.

 

[Andrew C]

I guess Disney is only for the 1%, guys. Let's pack it up and go home. If we can't pay for it in cash then we should just stay at home like the other trash, right?

By the way, I can certainly afford to splurge the $600+ I need for my pass at one time on my measly income. That doesn't mean it's the MOST economically sound decision. It's much more convenient to pay the exact same fee over time, leaving me with more cash in my pocket for any sort of unexpected expense that might come up, car/home maintenance, medical expenses, etc.

Many people cannot afford to spend the $5,000-15,000 (my rough estimates) that it costs to come to Disney with their family on a vacation out of their pocket at one time. I would wager to guess that the number of people who can afford to do that and actually visit WDW is probably under 10% of the people who visit.

Anyways, I don't come to these forums to discuss wealth disparity and to be honest, it really has nothing to do with the payment plan, considering the plan costs the exact same whether you pay a lump sum or over time. The point has been made undeniably clear: you disagree. We don't need any more commentary on your wealth.

I don't often read statements from people my age who have more money than they need, but it's incredibly sad to see how some people can be so disconnected from the reality of living in the real world. Not everyone is so entitled or fortunate.

I thought the conversation between Chef and Xdan ended pretty well (even though it started rocky). What is with the dramatics?

 

[DisneyFans4Life]

Let's get back on topic guys. It's stuff like this that muddies up the forums. Though it is good to have dialogue with one another, completely taking a thread off topic isn't necessary.

 

[ToInfinityAndBeyond]

So you think it's a good idea to get a personal loan or put a vacation on a credit card and pay it off later?

Sure, why not? I don't do it, but I don't see a problem with it. If someone ends up paying off the loans they take to go on a vacation, then what is the problem?

Anyways, my earlier post was made because I was angry at some of the earlier comments which appear to be short-sighted and ignorant. I deal with frustrating people all day in my career and this was the wrong place to vent about it. I agree with @DisneyFans4Life and @Andrew C and I think we should get back on topic.

 

[matt9112]

In general, if you have to buy something on monthly payments of any kind, you can't afford it.

So taking it away should have no impact, in my opinion. If they have a monthly payment option at no interest, sure? But if you're doing it to budget the cost, you can't afford it.

Harsh financial scrooge we have here. Fact is world is built on credit now sadly.

Edit: most people pay for housing monthly mortgage or rent. Even the wealthy often have morgages.

 

[Chef Mickey]

Harsh financial scrooge we have here. Fact is world is built on credit now sadly.

Edit: most people pay for housing monthly mortgage or rent. Even the wealthy often have morgages.

Sadly is right. I've said a mortgage is fine...a 15 year with 20% in and under 3.5% in this world.

 

[matt9112]

Sadly is right. I've said a mortgage is fine...a 15 year with 20% in and under 3.5% in this world.

why do that i can go FHA plus third party the PMI walk in door paying almost nothing....its really a good shake even if you are financially stable why even put 20 down if you can third party the PMI? and with state programs in some places 2 percent is all you need not even 3.5

 

[Chef Mickey]

why do that i can go FHA plus third party the PMI walk in door paying almost nothing....its really a good shake even if you are financially stable why even put 20 down if you can third party the PMI? and with state programs in some places 2 percent is all you need not even 3.5

One of the worst programs in existence for most people.

The real question is, can you actually afford to walk in the door? Even if you can do it, most people doing that don't have a large sum invested or in savings, so it makes people far too stretched than they otherwise should be.

Houses = expenses. Taxes. Maintenance. Monthly payments (Mortgage is higher when you don't put anything down). Unexpected issues. Lawn care. The list is endless.

You're making my point.

It's just like the AP argument. If you are making monthly payments on the annual pass just because you can and you have plenty of money, that's fine. If you're using an FHA loan because it's cheap and you have plenty of money in savings and could otherwise have put down 20%, have an emergency fund of 12 mos+, a great income, ability to pay taxes, etc etc...that's fine.

What I'm saying is most people going into a house with 0 money down have no business owning a house. They can't afford it.

 

[Chef Mickey]

I don't know your situation, but if I just gave you (or anyone average) a $5m house free and clear, you'd be bankrupt and foreclosed very soon because of the taxes, maintenance, and all expenses associated with running a $5m house.

Dramatic example, but it proves the point and is true on a $200k house depending on your situation.

 

[MonorailLover]

I for one never actually knew that there was a monthly payment plan, as the CM's never informed me of one. It probably would have been a good idea for them to have told me, as I "had" to buy 3 in the last 4 months for the family, 1 Premiere Passport and two regular WDW..... I purchased my passport while I was in Florida two weeks before going to the parks for d23, and since then I've visited the parks 8 days, not to mention all of the purchases and parking I've used. Even though I didn't use the payment plan, I still think the pass has been worth it, and not to mention almost paid off for the time it's been used.

 

[lazyboy97o]

I for one never actually knew that there was a monthly payment plan, as the CM's never informed me of one. It probably would have been a good idea for them to have told me, as I "had" to buy 3 in the last 4 months for the family, 1 Premiere Passport and two regular WDW..... I purchased my passport while I was in Florida two weeks before going to the parks for d23, and since then I've visited the parks 8 days, not to mention all of the purchases and parking I've used. Even though I didn't use the payment plan, I still think the pass has been worth it, and not to mention almost paid off for the time it's been used.

Monthly payments are only available to Florida residents.

 

[MonorailLover]

Monthly payments are only available to Florida residents.

Then that would be why..... Lol

 

[draybook]

In general, if you have to buy something on monthly payments of any kind, you can't afford it.

So taking it away should have no impact, in my opinion. If they have a monthly payment option at no interest, sure? But if you're doing it to budget the cost, you can't afford it.

So I can't afford my car or house?

 

[Disney.Mike]

No idea why so many people seem to hate Chef Mickey. I havent taken anything he has said as elitist. Everything he has said is 100% true and if more people believed in and followed what he says, we wouldnt have had the housing bubble like we did.

People want to buy now and pay later, the problem with paying later is that 1000$ purchase turns into a 2000$ purchase. People buy 30k cars that they have to finance for 6 years and trade in as soon as its paid off, people buy a 250k house (where i live in the south 250k will get you a lot of house in a top school district... adjust for your location) on a 40-50k income, finance for 30 years and never have money for upkeep....

These same people are the ones who contribute nothing to a 401k or retirement plan but will have their hands out to me and Chef Mickey in 30 years wanting us to pay to feed and house them...

 

[Disney.Mike]

Whether or not that is true, it has nothing to do with this conversation. You said that if someone cannot afford to pay for a vacation all in one shot, they do not deserve to go. Actually, I asked you to clarify if that is what you meant, and you confirmed it. If everyone had to pay for their entire trip up front, the entire park system would be empty, which would obviously be your dream come true, but it is not the reality of most Americans. And on that note, I am out. Have your little elitist last word, whatever it may be. I won't be reading it. Good night.

The park wouldnt be empty, me and Chef Mickey would be there...

 

[Disney.Mike]

I personally belive if anyone has any debt aside from a mortgate and 1 car payment, they cannot afford to go on vacation. I dont see what the problem with that is.

 

["El Gran Magnifico"]

One of the worst programs in existence for most people.

The real question is, can you actually afford to walk in the door? Even if you can do it, most people doing that don't have a large sum invested or in savings, so it makes people far too stretched than they otherwise should be.

Houses = expenses. Taxes. Maintenance. Monthly payments (Mortgage is higher when you don't put anything down). Unexpected issues. Lawn care. The list is endless.

You're making my point.

It's just like the AP argument. If you are making monthly payments on the annual pass just because you can and you have plenty of money, that's fine. If you're using an FHA loan because it's cheap and you have plenty of money in savings and could otherwise have put down 20%, have an emergency fund of 12 mos+, a great income, ability to pay taxes, etc etc...that's fine.

What I'm saying is most people going into a house with 0 money down have no business owning a house. They can't afford it.

I'm going to agree with you on that.