# Bought an HGVC Timeshare... second thoughts... Any advices??



## akot783 (Mar 7, 2012)

Hi all,

I am newbie here. I purchased HGVC timeshares in Myrtle Beach 2 months back (in Dec). I later found this forum and TUG website. I must have done some research before I went. Hindsight is always 20:20.

Here is what I have:
I have a bi-annual accrual of 3400 points for a total price of 9880. I paid 1600 as down payment. And my payments have not kicked in yet. 

I see that the after market deals would have been way better that what I had paid. 

Can any of the experts around here advice me, what my best options are?
 - Are there any options for me? Like selling it back or withdrawing from my purchase? 
 - Can I forgo the down payment? And  go for a after market option later? I see much cheaper options around.... 
 - Or is my assumption totally off base? Is this an ok deal? 

Any advice? 

Thanks much!!!


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## GregT (Mar 7, 2012)

akot783 said:


> Hi all,
> 
> I am newbie here. I purchased HGVC timeshares in Myrtle Beach 2 months back (in Dec). I later found this forum and TUG website. I must have done some research before I went. Hindsight is always 20:20.
> 
> ...



Welcome to TUG!   I'm afraid that your purchase price was on the high side, and it's too late to give it back.  They only give you 10 days (or 7 days?) to rescind your purchase, so you can't give it back.

The good news is that HGVC is a terrific system and you can learn to make the most of your ownership.  Many of us also purchased direct before learning about resale, so you're not alone.

Welcome again, and please ask lots of questions and read older threads here to learn how to maximize your ownership.

All the best,

Greg


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## Mimoshka (Mar 7, 2012)

If it is any consolation, Myrtle Beach is too new for there to be any resales available anyway. But HGVC has been a good system, you can still make the most of it!


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## pianodinosaur (Mar 7, 2012)

Mimoshka said:


> If it is any consolation, Myrtle Beach is too new for there to be any resales available anyway. But HGVC has been a good system, you can still make the most of it!



I agree. OP needs to learn the system and take advantage of the vacation opportunities.


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## akot783 (Mar 7, 2012)

*Thanks - more questions*

Thanks for the inputs. 

The sales folks pushed bigger packages, and thank God that I resisted larger packages and yearly ones that were even costlier. My thinking was that if this turns out to be a good experience, I can go back and buy additional ones that and add more points in future. 

That being said, I will try and get the best out of the system. I have been a Hilton fan all along (I am a Hilton Honors Diamond). 

Couple of questions - 
1) What is the best way to finance? Hilton interest rates are way too high. 
2) If I have to augment my current points (3400 EOY), will my additional purchases add to it? I mean, can I combine the points for a larger vacation? 
3) If I am looking for any future options to buy, what are the major considerations that I need to be aware of ? 
 - MF is one. Any other?


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## GregT (Mar 8, 2012)

akot783 said:


> Couple of questions -
> 1) What is the best way to finance? Hilton interest rates are way too high.
> 2) If I have to augment my current points (3400 EOY), will my additional purchases add to it? I mean, can I combine the points for a larger vacation?
> 3) If I am looking for any future options to buy, what are the major considerations that I need to be aware of ?
> - MF is one. Any other?



With respect to your questions:

1) Honestly, it's best to not finance one of these things.  If you're financing one, many people will use a home equity line of credit -- but then you're using your home to finance a luxury items...........hopefully sufficient cash is available to buy the timeshare.  If not, suggest hold off on more timeshares.
2) Yes you can combine points from different weeks and may find that one day you add a 4,800/5,000/7,000 point package to your 3,400.   You won't be able to book home resort for Myrtle Beach (other than your 3,400) but you'll have points to work with
3) The two main considerations are:  a) Lowest Maintenance Fees and b) does the property necessitate a 12 month booking window.   Most HGVC properties are available at 9 months, allowing any points to access them.    However certain properties (most notably HHV) can be booked up at 9 months, justifying a purchase of HHV directly to allow for advance booking

Good luck -- enjoy your timeshare -- HGVC is a great system!

Best,

Greg


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## Talent312 (Mar 8, 2012)

I would only add...

Shop local banks and credit unions for a HELOC. You may find one with no closing costs.

HGVC automatically combines points from weeks at different HGVC resorts, but combines points from weeks resorts affiliated by contract with HGVC (SW Florida, Grand Pacific, Bay Club...) only upon request (since participation is optional).


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## chriskre (Mar 8, 2012)

You could always do a few zero % credit card and do a few transfer balances.  At least for part of it.   

I own a biennial with HGVC and have found that I get alot of mileage out of owning even this small package.  I use the open season alot and that's been one of the best benefits for me to the club.  Just got back from Parc Soleil.  Paying $120 for a 2 bedroom in a sold out resort during spring break on a last minute whim is a nice perk.


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## sjuhawk_jd (Mar 8, 2012)

How many days of reservation can you get at this resort with 3400 points (not much in my opinion). If you have an option, then talk to HGVC, see if they will just keep your $1600 and let you cancel the contract. Then in resale, buy a 7K annual HGVC contract for anywhere between $5 to 7K (does not have to be at this resort). There will be plenty of availability at this resort for years to come as the sales will be slow. 8 or 9 months out, you can book anywhere with your points, without even owning it.





akot783 said:


> Hi all,
> 
> I am newbie here. I purchased HGVC timeshares in Myrtle Beach 2 months back (in Dec). I later found this forum and TUG website. I must have done some research before I went. Hindsight is always 20:20.
> 
> ...


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## itradehilton (Mar 8, 2012)

If you are stuck with what you bought then learn how to use those points wisely. 3400 points can get you 1 week in an RCI 1bdr for a week. You can book some resorts in HGVC for a week during gold season in a 1bdr.  You can book weekdays at a resort for less points then see if you can extend your stay through open season rates. If you only need a studio size room they cost less points too.


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## GlobeHopper (Mar 15, 2012)

Hi akot783,
We, too, are first-time owners who bought directly with HGVC. In our case, we did know we were "over-paying" by not purchasing on the secondary market but we are very conservative and the security we felt dealing with Hilton directly (plus the large amount of bonus points and perks they gave us) kept us in our comfort zone. That said, I wish I had joined TUG prior to purchasing and had done more homework. Live and learn. Akot783, we are in the same boat and just need to make the most of the points we have and learn to be savvy HGVC members going forward! As far as financing, as others have suggested, taking out a HELOC or applying at a local credit union should be better than financing through Hilton. (Even Hilton tells you this in their presentations.)
Welcome to HGVC, and maybe we can learn together!!!


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## slum808 (Mar 15, 2012)

GlobeHopper, Welcome to TUG! Ask a lot of questions, its the fastest way to learn.


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## akot783 (Mar 17, 2012)

GlobeHopper said:


> Hi akot783,
> We, too, are first-time owners who bought directly with HGVC. In our case, we did know we were "over-paying" by not purchasing on the secondary market but we are very conservative and the security we felt dealing with Hilton directly (plus the large amount of bonus points and perks they gave us) kept us in our comfort zone. That said, I wish I had joined TUG prior to purchasing and had done more homework. Live and learn. Akot783, we are in the same boat and just need to make the most of the points we have and learn to be savvy HGVC members going forward! As far as financing, as others have suggested, taking out a HELOC or applying at a local credit union should be better than financing through Hilton. (Even Hilton tells you this in their presentations.)
> Welcome to HGVC, and maybe we can learn together!!!



Thanks!


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## Judi Kozlowski (Mar 18, 2012)

*Myrtle Beach*



pianodinosaur said:


> I agree. OP needs to learn the system and take advantage of the vacation opportunities.


I have Myrtle Beach resales


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## Judi Kozlowski (Mar 18, 2012)

*7000 points*



sjuhawk_jd said:


> How many days of reservation can you get at this resort with 3400 points (not much in my opinion). If you have an option, then talk to HGVC, see if they will just keep your $1600 and let you cancel the contract. Then in resale, buy a 7K annual HGVC contract for anywhere between $5 to 7K (does not have to be at this resort). There will be plenty of availability at this resort for years to come as the sales will be slow. 8 or 9 months out, you can book anywhere with your points, without even owning it.


You can not buy a 7000 point package for $7000.  Hilton will exercise


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## Judi Kozlowski (Mar 18, 2012)

*7000 points*



sjuhawk_jd said:


> How many days of reservation can you get at this resort with 3400 points (not much in my opinion). If you have an option, then talk to HGVC, see if they will just keep your $1600 and let you cancel the contract. Then in resale, buy a 7K annual HGVC contract for anywhere between $5 to 7K (does not have to be at this resort). There will be plenty of availability at this resort for years to come as the sales will be slow. 8 or 9 months out, you can book anywhere with your points, without even owning it.


You can buy a 5000 point package in that range


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## SmithOp (Mar 18, 2012)

Judi Kozlowski said:


> You can not buy a 7000 point package for $7000.  Hilton will exercise,



Unless the location has no rofr, those are the holy grail right now.


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## TheWizz (Mar 19, 2012)

SmithOp said:


> Unless the location has no rofr, those are the holy grail right now.



7K points for ~$7K can be had via resale at Grand Pacific Palisades (GPP).  No ROFR and since you are buying resale direct from the resort, they can convert the week into HGVC for you for a small fee (can't remember exact #).  I bought an 8400 point value GPP unit on EBay (hard to find) and then after closing, bought another 6200 point value GPP unit direct resale and was able to convert both to HGVC points and attain Elite status in the process.  Highly recommend GPP direct resales.  MFs are a little higher than Vegas, but lower than Bay Club.   Plus, when you buy GPP, you get owner access to all the Grand Pacific resorts as well - not just the HGVC affiliates.


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## janckenn (Mar 19, 2012)

Also remember HGVC Flamingo does not have a right of first refusal, so a good way to get points.  Also an excellent location in Las Vegas.


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