Monthly payments?

[Britt]

I saw something that had talked about making monthly payments for your WDW trip?? I've noticed people talking about having their final payment in, but I always thought that was for their credit cards...HAHAHAHA

What are the benefits to paying monthly? Obviously payments are going to vary depending on what you book, but how long do payment plans go for? I checked out what it would be to pay over the course of 12 months, it was like...$200 a month lol

 

[ImagineerDude]

I didn't even know this was offered! I would like to know too...

 

[BrerKev]

When you book a package final payment is due 45 days prior to arrival. Many people make multiple payments, or you can just pay in full by the deadline.

 

[DisneyDebNJ]

During my divorce 7 years ago, I made monthly payments, based on what I could afford. I put down a $200 deposit and paid a little each month and made my final payment 2 months prior to my trip. (I did use a good part of my tax return towards the balance) There was no set amount, I just sent what I could. My final payment, 2 months out, was $135, so it worked well for me.

 

[englanddg]

When you reserve you are required to make a down payment. For hotel package reservations, this is $200 per package reservation. I have two packages booked for next year, one night in Contemporary, and 11 nights in Port Orleans FQ. I had to pay the 200 down for both.

For Disney Cruise line this amount varies (but in my experience seems to be about 25% - 35% of the total package cost, again basing this on the trip I just booked for 2013.

From this point forward, they work the same. It's more akin to layaway. Disney does not charge interest on your outstanding balance. You have until a set date to pay. For my rooms, I booked on the first weekend of Sept, for a trip in Aug 2013, and I have until late May to pay it all off.

The amount I pay, and when I pay is not set by Disney...so if you want to do it monthly, that's your choice. If you'd rather just save up for it and pay it off all at once, you can do it that way too. As long as it's paid off by the cutoff date that Disney provided you when you reserved.

Hope this helps!

 

[DisneyWall-E]

Yep, there is no set payment plan, just a "due by" date. @Cindy'sBruno and I pay what we can when we can. It all depends on the time of the month because of what bills might be due(they need to be payed first).

 

[Dad 2 M & M]

When we reserved our 2 packages, the down payment was over 30%. I believe the down payment is based on how far in advance the packages are booked. We have booked almost a year in advance and only had to put $200 down. We booked our Dec vacation at the end of August, and I assume that is why it was 30% down. And, as stated elsewhere in this thread, we must be paid in full 45 days out.

 

[Allygator]

Is there a charge for rebooking if you had to change the dates?

 

[englanddg]

If you are far enough out, no. But as you get closer, you may be subject to a charge, unless you buy the trip insurance.

 

[HouCuseChickie]

I think a lot of this varies on what works best for you. If I book a pkg I pay my $200 ... if I book room only I pay that 1st nt of lodging + tax. In the case of the pkg it's a 45 days out pay in full and in the case of room only it's at check in...or something like that.

Personally, I don't like to give Disney my $ in payments, but to ensure I set it aside I put it into an interest bearing savings account. So, I'm making payments ... just not to them No, the interest isn't much...nothing more than a couple of snacks or cheap trinkets...but that's also $ I wouldn't have if I'd just handed my $ over directly to Disney either. And if things fall through and I have to cancel- I don't have to wait to get all of my $ back.

 

[SuprDav]

I look at it like this. If you book 12 months in advance then you have an almost 11 month interest free loan from WDW to allow you to pay off your trip. On the other hand I would recommend to NOBODY to put the balance on a credit card and make monthly payments on the trip when you get back home.

 

[the1nonlysinger]

I want to point out- the Disney Rewards VISA card gives you 6 months no-interest to pay for your Disney resort & ticket payments. So you have 6 months from when you put your $200 deposit down to pay that part off, and then 6 months from when the balance is due to pay that part off too.

This fact has been a HUGE saving grace for me & DH. We booked our trip, purchased our flights & put our deposit down. And within a week, found out we need to purchase a new furnace. OUCH. Big hit to bank account. Luckily because of the Disney Rewards card, we have a little more wiggle room to get it all worked out. If you don't already have one of these cards- I'd highly recommend getting one. The reward points- plus this advantage- TOTALLY worth it in my book.

(Just realized how much I sound like a salesperson for the card- but I'm really just a card user who is really pleased!!)

 

[BCVTalsJam]

Dvc is monthly payments until you pay off your loan then it's just the matinance fee for the next 20 30 years woo!

 

[Britt]

OOOOOO my goodness. Thank you guys, that was perfect info! I love that it's not set, we can pay as much as we can or as little

They only let you book 1 year out though, correct??

If free dining becomes available or something, can you add that to your reservations?

 

[Britt]

Look what you guys did! Im all atwitter thinking about the possibilities....HAHA

Because if we pay off the car, like we plan to, and get the credit card paid off in may, like we plan to, thats $550 extra a month....that could make for a REALLY nice WDW vacation!!! LOL

 

[flynnibus]

I look at it like this. If you book 12 months in advance then you have an almost 11 month interest free loan from WDW to allow you to pay off your trip..

It's the opposite. You are giving free use of your money early. You don't owe the money till the due date. Paying early gives the a free loan.. Not you

People should save their own money and pay when it's due. But paying early helps discipline people by tying the money up where they can't reach it.

 

[englanddg]

It's the opposite. You are giving free use of your money early. You don't owe the money till the due date. Paying early gives the a free loan.. Not you

People should save their own money and pay when it's due. But paying early helps discipline people by tying the money up where they can't reach it.

I was going to state much the same, but he beat me to it. I do make reservations and do my down pays, but I shove all the rest of the money into a few interest bearing fund accounts until I'm ready to pay the rest of it off.

 

[Britt]

It's the opposite. You are giving free use of your money early. You don't owe the money till the due date. Paying early gives the a free loan.. Not you

People should save their own money and pay when it's due. But paying early helps discipline people by tying the money up where they can't reach it.

Oh Flynn, Im horrrrrible at saving. I get so caught up in "the moment" and before I know it, the trip is here and I haven't saved a dime! We went this past week to WDW with exactly 1200. That was for 5 people to eat, luggage, toll ways, and long term parking and Universal. That is not a lot of money when it comes down to it. LOL And I barely managed that by the skin of my teeth. LOL I try so hard, and I just.......UGH! lol

I love the idea of just paying it and being done with it! : )

 

[flynnibus]

.

For Disney Cruise line this amount varies (but in my experience seems to be about 25% - 35% of the total package cost, again basing this on the trip I just booked for 2013.

It should be 20% for dcl. If you rebook onboard it's only 10%. Tho there were some changes here recently. I might be out of date

 

[englanddg]

Oh Flynn, Im horrrrrible at saving. I get so caught up in "the moment" and before I know it, the trip is here and I haven't saved a dime! We went this past week to WDW with exactly 1200. That was for 5 people to eat, luggage, toll ways, and long term parking and Universal. That is not a lot of money when it comes down to it. LOL And I barely managed that by the skin of my teeth. LOL I try so hard, and I just.......UGH! lol

I love the idea of just paying it and being done with it! : )

That's why I use isolated accounts. If you move the money out of your normal accounts to investment or isolated accounts, it's easier to forget that it's there. I completely feel ya about "the moment"...but once I learned to "pay myself first" (which I didn't learn until my late 20s, mind you), I found that I had a LOT more income then I thought I did prior, and I automatically adjusted my lifestyle to conform with a lower daily cost of living.