First off, I want to thank you all for this site. My sister and I purchased a Holiday Inn Club Vacations TS this past weekend. The deal was 100K points EOY in even years with a 100K bonus for 2016 for $10K plus $850 MF EOY. The actual deeded unit was a 2/2 in Orange Lake, I think week 2. We never planned to use it, it was just presented as what we needed for a deed.
I immediately got online after we got back to our hotel because once you actually got time to think (every time we were alone the salesman would come back with another question or more information) about everything the salesman said things just didn't add up. For instance, he asked us where we would go if we could go anywhere and we of course chose some popular overseas destinations. He showed us the RCI chart saying we could have a week at any of those for 40-49K points. When it came time to look at the contract and he was pitching 100K points I asked if the chart he showed us before was in HICV points and he said yes, the chart was after conversion. I am still not sure if that is true but it doesn't seem likely that we could go for a week in New Zealand for 40K points and still have 60K left over. When I asked about what we do if we don't want it anymore he said that we could sell it privately (since he said HICV would buy it but not for the best deal) and that we would be looking to sell for more than we bought since it is such a great deal.
Long story, shorter...I just mailed the rescind letter today after telling my sister I would research our options and let her know what I find. I will mail the manual back this week as well and hopefully be done with that contract.
So the next step is figuring out what now so I have answered the questions I saw in another post.
1) Where do you want your home resort to be?
Somewhere on the east coast. We are originally from Williamsburg so that could be an option but we wouldn't necessarily stay in the resort when we went back.
2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
We would like to mostly trade. The idea of a points based system is appealing and actually which turned our thoughts from "no way are we getting a timeshare" to "maybe this could work".
3) What are your 5 top trade destinations?
UK, Greece, New Zealand/Australia, US northeast, US west coast
4) How many people do you usually travel with?
2-4. My sister and I travel together but sometimes my mother and brother join as well
5) Can you travel any time, or are you locked into the school schedule?
We can travel any time.
6) Can you make firm plans 12 or more mos. in advance?
Yes
7) Can you vacation for a full week at a time?
Yes, but we like the flexibility for long weekends as well
8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
3+? We aren't particularly picky. Allowing dogs for the US locations is a plus.
9) How much can you afford to spend upfront, without financing?
Would like to stay below $3K but could go up to $5K for the right fit
10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
Would like to stay in the $500-$800 range if possible.
11) Are you a detail oriented planner?
Yes
12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
Yes. I would like if we can find something with resale value even if that is just to say we sell it for $1. I don't want something that is super hard to offload even for free.
Sorry for the long post. Thanks in advance for the help!
I immediately got online after we got back to our hotel because once you actually got time to think (every time we were alone the salesman would come back with another question or more information) about everything the salesman said things just didn't add up. For instance, he asked us where we would go if we could go anywhere and we of course chose some popular overseas destinations. He showed us the RCI chart saying we could have a week at any of those for 40-49K points. When it came time to look at the contract and he was pitching 100K points I asked if the chart he showed us before was in HICV points and he said yes, the chart was after conversion. I am still not sure if that is true but it doesn't seem likely that we could go for a week in New Zealand for 40K points and still have 60K left over. When I asked about what we do if we don't want it anymore he said that we could sell it privately (since he said HICV would buy it but not for the best deal) and that we would be looking to sell for more than we bought since it is such a great deal.
Long story, shorter...I just mailed the rescind letter today after telling my sister I would research our options and let her know what I find. I will mail the manual back this week as well and hopefully be done with that contract.
So the next step is figuring out what now so I have answered the questions I saw in another post.
1) Where do you want your home resort to be?
Somewhere on the east coast. We are originally from Williamsburg so that could be an option but we wouldn't necessarily stay in the resort when we went back.
2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?
We would like to mostly trade. The idea of a points based system is appealing and actually which turned our thoughts from "no way are we getting a timeshare" to "maybe this could work".
3) What are your 5 top trade destinations?
UK, Greece, New Zealand/Australia, US northeast, US west coast
4) How many people do you usually travel with?
2-4. My sister and I travel together but sometimes my mother and brother join as well
5) Can you travel any time, or are you locked into the school schedule?
We can travel any time.
6) Can you make firm plans 12 or more mos. in advance?
Yes
7) Can you vacation for a full week at a time?
Yes, but we like the flexibility for long weekends as well
8) What level of accommodations do you prefer on a scale of 1 to 5 stars?
3+? We aren't particularly picky. Allowing dogs for the US locations is a plus.
9) How much can you afford to spend upfront, without financing?
Would like to stay below $3K but could go up to $5K for the right fit
10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?
Would like to stay in the $500-$800 range if possible.
11) Are you a detail oriented planner?
Yes
12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?
Yes. I would like if we can find something with resale value even if that is just to say we sell it for $1. I don't want something that is super hard to offload even for free.
Sorry for the long post. Thanks in advance for the help!