# Need Help - Urgently :) :)



## scarpenter (Jul 24, 2008)

Hi there I need some help.

Hilton wants to sell me a 2 bdrm for 19,590 South Beach Miami.  I get 5,000 points plus 15,000 bonus points.  

I like the idea of belonging to a hotel chain, they will finance and I will let me do the deposit in intallments.  It is open so I can pay off or refinance when I am in a better position.  

Our family is really looking to change up things.  

Is this a bad thing or should I look at another hotel chain for lower price on units?

S


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## JMAESD84 (Jul 24, 2008)

scarpenter said:


> Hi there I need some help.
> 
> Hilton wants to sell me a 2 bdrm for 19,590 South Beach Miami.  I get 5,000 points plus 15,000 bonus points.
> 
> ...



I think Hilton is trying to steal your money.  You probably should not be negotiating a purchase with a developer.  Instead check out the resale market (TUG, Redweek, eBay, etc) for what is being adveritised for the hotel chains and see if you cant find something that fits your budget and doesn't require financing.


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## Blondie (Jul 24, 2008)

Don't do it!! You will be paying way too much especially if you finance it. Not a good idea- look for resales and save yourself a bundle.


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## Jya-Ning (Jul 24, 2008)

scarpenter said:


> Hi there I need some help.
> 
> Hilton wants to sell me a 2 bdrm for 19,590 South Beach Miami.  I get 5,000 points plus 15,000 bonus points.
> 
> ...



Does not seems like you know what you actually get.  And you have no enough money to cover the purchase.  You should cancel it.

You can try tug's advice on HGVC http://www.tug2.net/advice/hgvc.htm.  I believe you will get gold season 2 BD for 5000 points, not enough for plantimun season 2 BD.

Learn first, the same amount of deal will always come.  In the meantime, if you have money invest it, it is a bad economic year, which means, if you start investing now, you will have great chance beat avg.  While at the sametime, with economic downturn, most hotel are in discount mode.

Jya-Ning


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## Bill4728 (Jul 24, 2008)

The current price for a HGVC TS in LV is about ~$1.70- $1.75/pt for platinum points OR $1.25- $1.40 for Gold pts. So depending on the season your thinking of buying ( a 1 bd platinum or a 2 bd gold) your purchase should be ~$9,000 (plat) or ~$6500 (gold).

Your offer is clearly from the developer. The bonus pts are worth a $1000 -$1500. 

Find a way to buy resale and save well over $10,000.  ( if you bought the gold pts you pay $13,000 less plus the interest you'd pay. If you really want this and need to finance you may be able to find someone who owes $7000 - $8000  and you can take over their payments. Don't  over spend by $13,000!!)

Call Seth N or Judy K both sell mostly HGVC and are both GREAT!!
Seth is at www.Sellingtimeshares.net
Judy is at www.timeshareresalepros.com

PS  My understanding is that using your LV points to reserve in South Beach isn't too hard. So buy someplace cheap and use your points to go where you want.

PSS  Since this is about HGVC I'm moving this thread to the Hilton board.


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## jlee2070 (Jul 24, 2008)

Refer to this recent post for some back ground.  There are much better pickings out there than from the developer.  Of course, we like developer purchases as they seed the resale market...   

Check this: http://www.tugbbs.com/forums/showthread.php?t=77242

Talking about 7000 points for less than 11K!!!


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## riverdees05 (Jul 24, 2008)

Don't buy, start your learning process by joining TUG, Timeshareforum, and other timeshare sites.  Look at resales on ebay, redweek, Holiday Group, etc., get an idea of what out there and what the asking price is and the selling price.  There can be a big difference between them.

I would say, wait 6-12 months before you buy.  Might even want to consider renting a week and trying it out.  Interest on your 19,590 depending on the rate would probably pay or come close to paying for a week at a lot of locations.


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## Zac495 (Jul 24, 2008)

NO NO NO! Do not buy it!!!!!!
You can get great deals resale. You don't know what you're doing yet. Don't fall into the trap. I promise you - hang out here with us. You might find you don't want Hilton -you want Hyatt or Marriott or whatever. Take your time.


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## hicksville (Jul 24, 2008)

yup, what they said!


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## linsj (Jul 24, 2008)

Like everyone else said, don't do it! You can find a MUCH better price resale. Plus financing a timeshare is not a smart move. It only increases the price of a depreciating item.


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## ricoba (Jul 24, 2008)

The previous posters are right on the money...you can do much better resale....especially now that the market is softer.


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## Talent312 (Jul 24, 2008)

scarpenter said:


> Hi there I need some help.
> Hilton wants to sell me a 2 bdrm for 19,590 South Beach Miami.  I get 5,000 points plus 15,000 bonus points.
> ... Is this a bad thing...?



It's highway robbery.
I, personally, have no objection to you donating money to Hilton's slush funds.  But since you asked...  Consider this:  For the price of your annual MF's alone, you might be able to rent a similar unit and owe nothing.  There are reasons to own (perks), but nowhere near $19K worth.

I just hope that you haven't signed a contract.  If you have, RESCIND in wtriting the exact manner described in the paperwork they gave you.


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## HGVCnewbie (Jul 24, 2008)

I think you possibly may have a hunch now on how everyone on TUG, including me, feels about buying from the developer!

As far as if I would ever take that deal from Hilton direct:

Do you remember that TV show "Alice" back in the early 80s?  Remember when Flo would say to Mel, "When donkeys fly"?


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## jehb2 (Jul 25, 2008)

scarpenter said:


> ...It is open so I can pay off or refinance when I am in a better position.



Hilton is wonderful.  I love my Hilton timeshares.  That said, buy resale.

*You will not be able to refinance a timeshare
*


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## Aptman (Jul 25, 2008)

Consider one or two things:
1) What do you want out of this?  Did you go to the facility, like it, and decide that's what you want every year?  If you liked the 2bd, realize that most of the year is Platinum, not gold (even in FL), and you really need a platinum (or 7,000 points).  If it's only a matter of size of a unit once per year, get 7,000 points resale.  Someone was just posting here the other day agonizing over spending about $11,000 for 7,000 points, which is far better than you're getting (and the Maintenance fees are probably roughly the same, even less, because his was in Vegas).

2) What are you willing to pay?  If you can afford $20k (which, from talk about financing, refinancing and paying payments, it doesn't sound liike you can), then plunk down that $20k for something like 8400 points at one of the new Hawaiian properties (although $20k may not be enough for that, it probably should be).  That gives you prime points and great priority on getting into Hawaii (assuming that matters to you).

My guess is that you really can't afford what they're talking about, and you're thinking about stretching because you were wowed by them during a visit.  Good news is that you didn't buy, but you really need to do some research.  This is not a race, things are only getting better for buyers on the resale market - what with the economy slowing, credit tightening up, and cash being a premium.

I spent 6 months lurking on this and other boards before finally deciding what to buy resale.  You should spend that long.  Read the stickys (that's the discussion threads that are full of general details about each different issue that will bring you up to date on the basics), then follow the discussions, and finally post a few questions that are more complex, and soon you'll become 
an expert on this stuff before you ever make your first purchase.

Remember, there's no race here.  Dedicate a couple of months just to reading and absorbing all of this, then you'll feel happier about parting with your hard-earned money.

Oh, and join TUG, becoming a full-fledged member.  It's really cheap (it's already saved you a bundle of cash), really worthwhile, and it contributes to all that we're learning here.  The more the merrier.


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## scarpenter (Jul 25, 2008)

*Hello Everyone*

In my heart of hearts I knew this.  I have been around for a couple of years reading etc....but I guess one get carried away when they chat and know they could have in 30 days.

I guess them making so easy and making it possible for me.  Is what triggered my interest. 

AND No no I knew not to take it before I spoke with all the wonderful people here.  

Thanks for your advise.....I will contact a few resale folks and see what they can come up with for me.

Sandra


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## yumdrey (Jul 25, 2008)

*You made a good decision!*

Sandra, congrats on your decision. You saved your money. I purchased LV Flamingo annual gold 5000 points for $0.76/point 2 months ago. These days, there are lot of good deals at resale. Don't hurry, keep watching market then you will find a good one.


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