FAVC is great depending on what you use it for...
I have been reading the thread on FAVC and it seems many people don't like it. As for our family, we love it! We purchased FAVC resale a couple years ago for practically nothing ($1000 and first year MF plus all transfer fees paid) for a 5000 point annual contract plus 3400 carryover points, expiring 2048 . We wanted to buy into the HGVC system, but the reasons why I chose this share:
Comparable HGVC resales were $5000-$10000 for a 5000 point contract and HGVC has first right of refusal on all but LG Flamingo. I also looked at Bay Club, also an affiliate in Hawaii with no ROFR, but the buy-in was higher and annual maintenance fees also higher and you had to pay a large points conversion fee to get into HGVC.
No high activation, transfer or point conversion fees (low $100 fee paid by seller).
Lower maintenance fees for comparable point values. $915 for 5000 points including club dues, many HGVC properties are $900 - $1200.
Lower (non-home resort) reservation fee. All reservations need to be made by phone due to upgrades on the website, but $49 fee is lower than HGVC $89 phone reservation.
Same open season rates and availability.
Complementary guest vouchers (HGVC charges $39.00).
We have been able to book in Las Vegas (where we usually go to visit family) with a couple months notice at the Flamingo, and shorter notice at the other 2 properties without any problem. Most recently I booked at the LG Flamingo earlier this month in September for Veteran's Day holiday weekend, and there was still availability.
We can borrow points from the next year for no additional charge, just like HGVC.
FAVC also allow you to book at Club Intrawest properties, where I don't think HGVC can. Only 5 properties, but this gives more options for staying in the system.
FAVC allows you to use your points to book at Posadas hotels in Mexico. We haven't travelled to Mexico much, but if you do, they have a lot of hotels to choose from in many resort and metro areas.
Same RCI points conversion and fees as HGVC.
Cons:
Transfer took a long time...really long. Over 6 months.
Points don't roll over and have to be banked by March (for $91 fee, compare to $89 HGVC). I believe you can rescue points at HGVC for an additional fee, but an option with FAVC. This hasn't been an issue for us since we have used them all every year.
Can't combine contracts if we were to buy more points resale. The only way to do this is to buy a point package from the developer at their price $6/point...no way! I don't know how this compares to HGVC, probably the same.
The contract is a "Right of Use" for a term, you don't own it. The contract we purchased was through 2048. We have 36 years remaining on it and I don't know anyone who has owned their timeshare for 36 years anyway.
FAVC members can't use HGVC properties in CA, CO or NY. FAVC members can't convert club points to HHonors points. Neither is a big deal for us. I am a diamond member with Hhonors, and the point conversion is not favorable in most instances.
All in all, we are very happy with FAVC. We were able to purchase into the HGVC system via FAVC for a low buy-in price, relatively low maintenance fees and lower relative transaction fees. I would like to see their upgrades to the website complete to check point balances and make reservations, but their customer service reps are very helpful in the interim. We rarely plan vacations a year out, and so far availability hasn't been an issue for us. We have only travelled within the HGVC system with our FAVC points and have been very satisfied with the process and availability.
