Hi TUG Members,
My husband and I just purchased the Welks Platinum Program; we signed the contract today 12/14/14. For 240,000 points every other year, we paid about $18,000 (before their 14.9% APR) and $1,223 in yearly HOA fees. We are new to owning a time share and wanted to know what are your thoughts are about the price we paid? Was it a good deal? Did we pay too much?
Current Welks owners: what is your experience with Welks? With using points to book Welks Resorts? With using points to book with II?
What we like about it: the flexibility of being able to book any week with any of the Welk resorts, being able to share it family and friends, ability to use points (plus $174 fee) with II to book outside of Welks, unused points rolling into the next year (but only for one additional year), ability to later upgrade (if we choose) to more points. We're just not sure if we got a good price?!? We live near Lake Tahoe and absolutely loved the tour of the Welks Resort at NorthStar. The gentleman giving our tour stated that this is the beginning phase of their buildings at NorthStar and said that as more buildings are completed it would be more expensive to buy into Welks (we could see 3-4 more buildings being built).
Is there anything else we should know or be aware of?
Also they mentioned that if we take our contract to our credit union; we could try to get it refinanced for a lower rate. Right now they said they heard it's about 3%, which would drop our monthly payments by $100.
We have 7 business days to cancel the contract.
Please share any thoughts or experiences you may have had... Thank you in advance!
BM
My husband and I just purchased the Welks Platinum Program; we signed the contract today 12/14/14. For 240,000 points every other year, we paid about $18,000 (before their 14.9% APR) and $1,223 in yearly HOA fees. We are new to owning a time share and wanted to know what are your thoughts are about the price we paid? Was it a good deal? Did we pay too much?
Current Welks owners: what is your experience with Welks? With using points to book Welks Resorts? With using points to book with II?
What we like about it: the flexibility of being able to book any week with any of the Welk resorts, being able to share it family and friends, ability to use points (plus $174 fee) with II to book outside of Welks, unused points rolling into the next year (but only for one additional year), ability to later upgrade (if we choose) to more points. We're just not sure if we got a good price?!? We live near Lake Tahoe and absolutely loved the tour of the Welks Resort at NorthStar. The gentleman giving our tour stated that this is the beginning phase of their buildings at NorthStar and said that as more buildings are completed it would be more expensive to buy into Welks (we could see 3-4 more buildings being built).
Is there anything else we should know or be aware of?
Also they mentioned that if we take our contract to our credit union; we could try to get it refinanced for a lower rate. Right now they said they heard it's about 3%, which would drop our monthly payments by $100.
We have 7 business days to cancel the contract.
Please share any thoughts or experiences you may have had... Thank you in advance!
BM