What kind of deal did I get?

[ching]

Good Morning,

I recently signed with HGVC at the Grand Waikikian and would like to get some feedback on the purchase we made (still time to rescind offer). This was purchased directly with the developer.

We were quoted a price of $39,999 for 9300 points for a 1 bedroom plus platinum for this purchase. MF $1068. We have paid the 10% and closing costs so far.

We love Hawaii and would consider an annual vacation at the HHV. We do not have much travel restriction other than travel will happen in the months of April, August or December, and NOT the busy summer months.

Based on this information, what kind of deal have we signed up for and is there another way we can still stay at the HGVC Grand Waikikian without having to pay into this particular tower? The prices seems high.

I've tried to look for a similar purchases through resales and have found very limited inventory with with HHGV Grand Waikikian.

ALSO, IF we decide to rescind, which is within 7 days, does the letter need to be delivered within that time, or just dated stamped certified mail within that time?

Thanks for all responses!

 

[LisaH]

Hi Ching,

I don't know HGVC very well but the price you paid is way too high. Cancel when you still can and follow the instructions provided by the developer carefully. You can definitely find better deals on the resale market.

 

[Karen G]

Definitely rescind while you still can. You'll never have this rescission opportunity again once the time passes.

Since you question whether or not this was a good purchase, you need to spend some time doing some research. You've come to the right place.

Take your time. No matter what the salesman told you, the deal you got will still be there. After you've done your research, if you still think that's the best deal you can make, you can always buy then after you've become an informed buyer.

 

[puppymommo]

There are currently 16 HGVC packages on ebay. Rescind, do some research, buy resale.

There is a wealth of information on these forums.

Welcome!

 

[ocdb8r]

I've tried to look for a similar purchases through resales and have found very limited inventory with with HHGV Grand Waikikian.

ALSO, IF we decide to rescind, which is within 7 days, does the letter need to be delivered within that time, or just dated stamped certified mail within that time?

You're correct to note that there are very few resales for the Grand Waikikian. This is one of HGVC newest developments so the resale market has not really developed yet. That said, HGVC points at any other resort can be used at the Grand Waikikian, albeit with a bit less of a time preference (9 months vs. 12+ months). Because of this you may find that your exact dates or the exact size unit you want may not be available as those who own points at the Grand Waikikian have already reserved. That said, the experience from the users on this board has been that you can normally get what you want if you call and reserve right at nine months except for high demand holiday weeks.

The price you paid isn't horrible, but you can probably save $25-30k buying resale at another resort...just keep an eye on the yearly maintenance fees (they vary widely from resort to resort).

Bottom line is that you should rescind NOW and research as much as you can. If for some reason you decide you really want he Grand Waikikian deal you just bought, they will be more than happy to sell it to you again at the same price.

 

[ricoba]

Please follow the advice given here and save yourself THOUSANDS of Dollars, by RESCINDING and buying RESALE!

This comes from someone who only found out about the resale market and TUG, before it was too late to rescind.

HGVC is a great system, and resale buyers have almost ALL the perks as those who bought from the developer.

Rescind and take your time exploring your options. You will be happy when you find a GW unit on the resale market.

 

[Brkian]

I agree, rescind immediately, and follow the instructions very carefully, document your efforts.

As a price point comparison, I recently closed on a resale at HGVC Vegas Strip, 9600 points, 3br penthouse platinum, with M&T of $925 (+$114 dues), for a tick under $13k (that figure included 2011 M&T and all closing fees). Comparing my apples to your apples: You are paying $28k+ more for 300 less points. For that price, you gain only the right to book rooms at HHV GW 3 months earlier than me. (12 vs 9).

I make this comparison only to illustrate the benefit of rescinding and purchasing resale. I own 2 HGVC and am closing soon on a third. It's a great program, just be sure to buy in at a price point that you will be satisfied with upon reflection.

 

[sjuhawk_jd]

rescind, rescind, rescind, rescind Now!!!

Once you do that, you will be like :whoopie:
HGVC salerperson will be like: :annoyed: