# recently purchased an HGVC timeshare. Should I rescind? [merged]



## jhoney004 (Feb 29, 2016)

my wife and i went to vegas for the cheap weekend getaway and time share presentation with no intention of buying. 3 hours later we're signing paperwork for 2500 points every odd year, with 10,000 bonus points for buying that day, at a total cost of just over $11,000.

we spent a ton of time in the sales area talking it over between us discussing how often we'd like to take vacations, would this help/force us to go on vacations more, this will be worth it over the course of our lives cause we can find a way to make the best of the system so it can pay for itself basically. I'm hoping this is kind of a normal convo for first time buyers. 

but now i'm looking online and a lot of things say I should send it back so I can buy resale since it'll be so much cheaper and the bonus points probably weren't worth it. I also can't seem to find anyone that's really happy with their HGVC timeshare. 

my question: did we get a good deal? should we rescind the purchase (i can do that within 5 days right?)? Is HGVC even worth having?

please help


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## Jason245 (Feb 29, 2016)

Yes. You overpaid by 13k

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## natarajanv (Feb 29, 2016)

*check marketplace*

you can get 3500 points contract for free here. There is one listed for $500, and one for $1

http://tug2.com/MarketplaceClassifi...&AdTypePoints=True&PriceMin=0.01&PriceMax=500


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## CTighe (Feb 29, 2016)

jhoney004 said:


> my wife and i went to vegas for the cheap weekend getaway and time share presentation with no intention of buying. 3 hours later we're signing paperwork for 2500 points every odd year, with 10,000 bonus points for buying that day, at a total cost of just over $11,000.
> 
> we spent a ton of time in the sales area talking it over between us discussing how often we'd like to take vacations, would this help/force us to go on vacations more, this will be worth it over the course of our lives cause we can find a way to make the best of the system so it can pay for itself basically. I'm hoping this is kind of a normal convo for first time buyers.
> 
> ...



Rescind!! You can get 2500 points for next to free. 
There is a 5000 point on the tug marketplace right now for $750


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## sb2313 (Feb 29, 2016)

Hgvc is well worth having, but not at that price. Rescind and do some research before buying resale.


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## Emi (Feb 29, 2016)

Rescind now. The number of points you bought can barely get you 2 to 3 days stay. Because it is every other year you can't even combine 2 years worth of points to get a longer stay. That makes it worth very little.  Buy resale after you learn more about the system.


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## TUGBrian (Feb 29, 2016)

welcome to TUG, you just saved 11 grand =)


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## csxjohn (Feb 29, 2016)

Since you are asking I would say rescind then study what you were going to buy to see if it's really worth that kind of money.  If it is, you can go back and buy at the same price next week.

If you find it isn't worth it you'll be glad you took advantage of the very short time you are allowed to rescind.


Study, study, and study some more then decide to buy or not but rescind while you can.


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## presley (Feb 29, 2016)

jhoney004 said:


> my wife and i went to vegas for the cheap weekend getaway and time share presentation with no intention of buying. 3 hours later we're signing paperwork for 2500 points every odd year, with 10,000 bonus points for buying that day, at a total cost of just over $11,000.



To give you an example of how that amount of points is completely unhelpful for booking a vacation, I recently book a 3 night stay at Trump Las Vegas in a one bedroom for over 3,000 points. 

People are giving away next to free 3500 annual points packages on Ebay and on here. Cancel your contract immediately (as in this very moment) and then research HGVC on here and decide if you really want to pay annual dues for it for the rest of your life. Then, find a nice resale.


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## jhoney004 (Feb 29, 2016)

alright well i'll be running home today to read the contract and figure out exactly how to rescind (purchased in nevada but i think the property we technically purchased was in san diego). 

is HGVC worth owning at all? My wife and I are 28 and though maybe this was a good idea since it would be ours forever but it sounds like 2500 points is way too low to be useful. what would be more reasonable if we wanted to take a good vacation every other 16-24 months?


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## Passepartout (Feb 29, 2016)

Buying in Nevada is what governs the amount of time you have to rescind. It's 7 days. 

Nothing difficult, just a simple letter saying you want to rescind contract #___________ Dated_____________

Signed _________ Husband _____________ Wife

make a copy of the signature page to include. If they gave you a bunch of stuff, say you'll return it to the sales office under separate cover and send it cheapest means.

Send the letter to the business office listed, not the sales office, send it Certified, w/return receipt, and keep the receipt from the post office.

Stay off the phone with them.

When you decide to buy, buy resale and the MF is the same for 5000 points as 3000, so buy 5. it's more usable.

Welcome to TUG.

Jim


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## presley (Feb 29, 2016)

jhoney004 said:


> is HGVC worth owning at all? My wife and I are 28 and though maybe this was a good idea since it would be ours forever but it sounds like 2500 points is way too low to be useful. what would be more reasonable if we wanted to take a good vacation every other 16-24 months?



I love HGVC as many other owners here do. There are many happy HGVC owners here. If you want to stay in their properties when you vacation, it is worth owning. If you were more interested in trading in RCI or using points towards cruises and other stuff, it isn't worth owning as you can get much less expensive options.

It does force us to take vacations we'd probably never take. A nice thing about HGVC is that you can borrow points from next year if you need to use more points this year. That isn't possible if you buy an every other year contract, but you could bank and borrow. If you get points in 2016 and 2018, you could bank (for a fee) your points to 2016 and borrow points from 2018 to take a larger vacation in 2017. I find it much easier to have every year points for myself.

Think about where you want to vacation and we can suggest other timeshares if they will work better. Of course, for many people, not owning any timeshares works, too. Owners often have more than they can use will rent out their timeshares.


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## jhoney004 (Feb 29, 2016)

presley said:


> I love HGVC as many other owners here do. There are many happy HGVC owners here. If you want to stay in their properties when you vacation, it is worth owning. If you were more interested in trading in RCI or using points towards cruises and other stuff, it isn't worth owning as you can get much less expensive options.



one of the selling points for us was the ability to get weeks through RCI at a low fee. If we buy resale do we still have that ability? or do you have to use the purchased points for RCI?

that didn't seem like a good idea since there's like a $200 fee to transfer points and get the RCI rooms. Am I understanding this right?


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## Jodi0415 (Feb 29, 2016)

jhoney004 said:


> alright well i'll be running home today to read the contract and figure out exactly how to rescind (purchased in nevada but i think the property we technically purchased was in san diego).
> 
> is HGVC worth owning at all? My wife and I are 28 and though maybe this was a good idea since it would be ours forever but it sounds like 2500 points is way too low to be useful. what would be more reasonable if we wanted to take a good vacation every other 16-24 months?




We're new Hilton owners and are very happy! We bought resale and feel it's more than worth every penny!! It's such a blessing to our family! We are cherishing quality time together in accommodations that are normally reserved for wealthier people!!

I'd say... to figure out how many points is right for you and your family, look at all the properties and how many points it takes to book these locations. Also consider future travel goals. 

Many others here have so much knowledge and experience and can help you with this!

Good luck!!


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## Jason245 (Feb 29, 2016)

The product is very good as long as you commit to using it. I have been very satisfied with my resale purchase.

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## phil1ben (Feb 29, 2016)

We bought resale in 2010 and are happy with our purchase. We own at South Beach and only use the points for South Beach and the relatively new resort in Italy. My experience after being a frequent reader of this Board and the FB page is as follows:

Those that bought resale = generally happy with the product although some concerns about the ever increasing maintenance fees (which are due as long as you are an owner and pass to your estate) and Hilton management fees. But keep in mind that since taxes, health insurance, salaries and other costs of operating the property do not normally go down, then maintenance fees must go up very year. So increasing maintenance fees are a fact of life. We have experienced increases of 2.5-4.5% per year so keep this in mind. Also spend time reading this Board. You will find the best value for your purchase is a 7000 point annual package. Do not borrow money to buy a timeshare. Learn about home week and the restrictions on Open Season. Understand that the maintenance fees vary from resort to resort and determine what is best for you. DO NOT BUY UNLESS YOU ARE CERTAIN YOU WILL USE THE POINTS. After you have "been to class" buy from one of the reputable brokers often mentioned on this site. 

Those that bought retail = when they learn of the resale market, generally feel taken, ripped-off, cheated, lied to etc....all of which is probably true. Many cannot put this behind them and continue to find things to complain about. Those that do put it behind them fall into the previous category above. 

Just my opinion.


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## presley (Feb 29, 2016)

jhoney004 said:


> one of the selling points for us was the ability to get weeks through RCI at a low fee. If we buy resale do we still have that ability? or do you have to use the purchased points for RCI?
> 
> that didn't seem like a good idea since there's like a $200 fee to transfer points and get the RCI rooms. Am I understanding this right?



Anyone with any RCI affiliated timeshare can get the cheap last minute weeks. They are not Hilton quality. You will be able to get them with a resale Hilton or even with a $1. timeshare that has very low annual fees.


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## mtm65 (Feb 29, 2016)

phil1ben said:


> We bought resale in 2010 and are happy with our purchase. We own at South Beach and only use the points for South Beach and the relatively new resort in Italy. My experience after being a frequent reader of this Board and the FB page is as follows:
> 
> Those that bought resale = generally happy with the product although some concerns about the ever increasing maintenance fees (which are due as long as you are an owner) and Hilton management fees. But keep in mind that since taxes, health insurance, salaries and other costs of operating the property do not normally go down, then maintenance fees must go up very year. So increasing maintenance fees are a fact of life. We have experienced increases of 2.5-4.5% per year so keep this in mind. Also spend time reading this Board. You will find the best value for your purchase is a 7000 point annual package. Do not borrow money to buy a timeshare. Learn about home week and the restrictions on Open Season. Understand that the maintenance fees vary from resort to resort and determine what is best for you. DO NOT BUY UNLESS YOU ARE CERTAIN YOU WILL USE THE POINTS. After you have "been to class" buy from one of the reputable broker often mentioned on this site.
> 
> ...



We second this 

We are happy HGVC owners.  We have used our points for HGVC stays and RCI stays.  We have used the HGVC cash open season and a SFX last minute deal too.  Some of these trips we would not have taken if we didn't own HGVC.  I'm 50 yrs old and wish I had known about HGVC and DVC when I was your age 

Like you, our first HGVC purchase was at full retail price.  We rescinded that purchase and started studying the posts on TUG.  We learned that a 7000 point contract was right for us.  We purchased resale from Seth Nock who was also very helpful in teaching us how to get the most out of our HGVC points.

So our advice is to rescind immediately and educate yourself on the ins and outs of HGVC.

Best of luck


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## jhoney004 (Feb 29, 2016)

mtm65 said:


> Like you, our first HGVC purchase was at full retail price.  We rescinded that purchase and started studying the posts on TUG.  We learned that a 7000 point contract was right for us.  We purchased resale from Seth Nock who was also very helpful in teaching us how to get the most out of our HGVC points.
> 
> So our advice is to rescind immediately and educate yourself on the ins and outs of HGVC.



so is/was there any fee to rescinding? or do we get all of our deposit back with no penalties?


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## mtm65 (Feb 29, 2016)

jhoney004 said:


> so is/was there any fee to rescinding? or do we get all of our deposit back with no penalties?



We rescinded, following the directions in the contract and using advice from TUG and received a full refund of our deposit within a week.  We charged our deposit to a credit card so the money never really exchanged hands.


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## jhoney004 (Feb 29, 2016)

I'm going through the contract to find the info on rescinding now. anyone remember where it was approximately in the stack of papers?


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## jhoney004 (Mar 1, 2016)

I have all the materials together (as far as i can tell)

there wasn't any info in the contract about where i can fax or email everything. Should i email/fax it to the person who went through the contract with us? or is there a different customer service email or hotel fax I should use? We bought it at the HGVC on the blvd in vegas. 

Thanks for everyone's help so far. I'm looking forward to going through the forums to figure out what is right for us.


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## falmouth3 (Mar 1, 2016)

Do not email or fax.  Find the address and send your rescission letter by certified US mail.


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## mtm65 (Mar 1, 2016)

jhoney004 said:


> I have all the materials together (as far as i can tell)
> 
> there wasn't any info in the contract about where i can fax or email everything. Should i email/fax it to the person who went through the contract with us? or is there a different customer service email or hotel fax I should use? We bought it at the HGVC on the blvd in vegas.
> 
> Thanks for everyone's help so far. I'm looking forward to going through the forums to figure out what is right for us.



There should be an address in the contract packet.  Mail your letter with proof of delivery to the address in your contract.  Do not fax or email.

If you make personal contact with anyone at HGVC, they will try to talk you out of rescinding.  I received a call when HGVC received our rescission letter.  They offered us more bonus points to try to get us to change our mind.


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## Passepartout (Mar 1, 2016)

I think the rescission (cancellation) info is near the end (signature page) in fairly fine print. For obvious reasons, they don't make it prominent. I gave you other info and hints in #11.

There is no cost or penalty for rescission. It literally means setting the whole transaction back as if it never happened.

Best not to answer the phone to unknown numbers for a while. They may call and try to sweeten the pot or talk you out of the rescission, but truly, no offer they can make will hold a candle to buying resale.

Jim


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## jhoney004 (Mar 1, 2016)

well I've mailed the rescission packet and it should arrive tomorrow afternoon. 

we signed paperwork friday and what i found said we had till midnight on the fifth calendar day to rescind so....wednesday right? 

i was going to fax the same info to their QA manager (who led us through the contract and told us where to sign on friday) till everyone said not to. I was just trying to make sure they received our notice in time knowing i shouldn't be answering any calls from las vegas for a few weeks. 

I'll update when I hear back from them.


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## mamilovestotravel (Mar 1, 2016)

I am the blessed new owner of a 3400 eoy contract for the same resort you purchased and I got it off the bargain deal thread for just the $399 needed to start the new hilton acct. I went to a presentation there too this past summer and they tried to sell me the very same contract for 15k. I am so grateful!!! I know there may be some drawback with the number of points and eoy but I am very happy and grateful. I have noticed ebay has quite a few like the one I just got too but they do ask for all the other fees to be paid by new owner. Good Luck!!!!

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## csxjohn (Mar 3, 2016)

jhoney004 said:


> .... I was just trying to make sure they received our notice in time knowing i shouldn't be answering any calls from las vegas for a few weeks.
> 
> I'll update when I hear back from them.



It does not matter when it gets there, only that you mailed it on time.  Save your usps receipt showing when it was mailed.  Never send this to anyone.  If anyone needs proof, send a copy, not the original.


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## jhoney004 (Mar 4, 2016)

When should i expect to hear back from them if at all? I know it got there and was signed for wednesday morning. 

I also need to send them the books we got when we purchased last week correct? Will They call and ask me to send those items? 

my wife is worried we did something wrong and now they won't let us out of the contract.


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## SmithOp (Mar 4, 2016)

jhoney004 said:


> When should i expect to hear back from them if at all? I know it got there and was signed for wednesday morning.
> 
> I also need to send them the books we got when we purchased last week correct? Will They call and ask me to send those items?
> 
> my wife is worried we did something wrong and now they won't let us out of the contract.




Dont worry, Hilton does not play tricks with recission, you will get refunded quickly now it has been received.  Dont worry about the books, they will contact you if they want them back, which I doubt.


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## PigsDad (Mar 4, 2016)

jhoney004 said:


> When should i expect to hear back from them if at all?



Given my experience and what others have posted here, you should receive confirmation of your cancellation (and refund) anywhere from 2-4 weeks after you send in the rescission.  And I'll reiterate SmithOp's statement: HGVC is a pretty straight shooter, and will process your rescission without issue.

Kurt


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## Jdes656 (Mar 4, 2016)

*Thank you all!*

I was literally ready to sign for a HGVC 5k point package totaling $12k when I read this thread while they were processing my approval and backed out right then and there. Saved me money, time, and hassel. Wish I would have read this earlier so I could have saved more of my afternoon instead of debating for 3 hours, but thank you again! Time to do more research and see if this or another time share is right for me, at the right price


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## Busheriff (Aug 12, 2018)

I wasted my day in Orlando, FL  for almost a day and signed the HGVC for a bad deal and just realized that I made a big mistake.  I realized that this is not for me and also overpriced. I bought it 7 days ago in Florida and live in Texas and ready to rescind immediately. I have seen the contract shows rescission period for Florida is 10 calendar days and for Texas is 6 days. I had assumed this applies to the location of the "property" you purchase and not based on which state you reside.  This means that I see have 2 more days to send my rescission letter if I send it tomorrow. 

Could someone help interpret what the language in the contract means?   I am really desperate to rescind my contract and can't wait to get rid of it and get my 1.5K deposit back. 

Busheriff


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## Busheriff (Aug 12, 2018)

Dear All,

Just to add more information to the above, there is an addendum showing for Texas purchasers with some information in it, including rescission period, which says 6 days for Texas.  Does it mean it applies for purchasers who reside in Texas or does it refer to purchasing timeshare located in Texas ? 

Other document says it is governed by the laws of state of Florida.    Any help on this would be greatly appreciated.  I have just sent my rescission letter on the 8th day, so I hope it is still within rescission period.


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## RX8 (Aug 12, 2018)

Busheriff said:


> Dear All,
> 
> Just to add more information to the above, there is an addendum showing for Texas purchasers with some information in it, including rescission period, which says 6 days for Texas.  Does it mean it applies for purchasers who reside in Texas or does it refer to purchasing timeshare located in Texas ?
> 
> Other document says it is governed by the laws of state of Florida.    Any help on this would be greatly appreciated.  I have just sent my rescission letter on the 8th day, so I hope it is still within rescission period.



If you signed the contract in Florida then Florida law applies which means 10 calendar days to rescind. Follow the rescission instructions exactly. It only matters the date you send the rescission, not date received. Send certified so you have s receipt of date sent. 

Not sure if the law requirements include providing rescission laws for both the signing state and residence. If not then it is pretty low to include the six day rescission period as well. I wonder how many look at it on day 7 and think they were too late to rescind.


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## Busheriff (Aug 13, 2018)

Thank you!

Just wanted to make sure that the law does NOT apply to residency.  Appendix A-1 says Texas purchaser, and I don't understand what it really means. I assume it applies to "property" located in Texas.  I agree that it does not make sense if residency is applicable since buyers can be from many states and countries. they are not supposed to be bound by their residency. 

I just sent my rescission letter as exactly instructed via certified email with return receipt.   Let's see what they have to say. Fingers crossed.


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