Hi all,
Very glad to have been referred to this forum just in time before my rescission period closes. Like many others who have posted here, I too am questioning my purchase. Apologies in advance for the novel length post.
About a year ago I called Hilton to modify a reservation for work and afterwards was forwarded to a HGVC rep for a great vacation offer - 6 nights in Hawaii for just a $200 fee, or upgrade to an amazing 2 bedroom suite with kitchen for $800. After delaying a few times due to scheduling conflicts, I finally grabbed some friends and headed out there last week for a wonderful and relaxing vacation, until the timeshare presentation came around.
Like so many others, I walked in truly intending to just listen for 90 minutes and walk out without buying anything, and even brought my friend who works in sales with me to keep me levelheaded, but by the end of it he was nearly sold as well. After 2 hours in the presentation with a very friendly salesperson I ended up buying at Elara. It wasn't until I got home and vacation mode turned off did I realize it may not have been the best idea, but still not convinced I was completed ripped off. Met with my financial adviser as soon as I got back and he wanted to slap me and told me to check out this website.
Looking some feedback, as my rescission window closes this Saturday and will need to mail the letter tomorrow if I decide to cancel. The cost isn't so much a concern (I'll pay it off very quickly to avoid the high interest financing) so much as the return on investment long term.
They showed me a number of substantially more expensive packages before I settled on the one below;
Property: HGVC Elara (Las Vegas)
Type: Deeded, 2,200 club points odd years, studio platinum (peak season)
Price: $11,050 (after a $3,250 discount for first time tour and Hilton Diamond member)
Maintenance: $830 odd years, $175 even years
Bonus: 3,200 bonus club points on purchase - access to RCI Last Call (something I could see myself using very often). Plus a discount card to use the rest of our stay on property.
--
I obviously am beginning to see the value of resale market from the great information on this site, but mainly just frustrated that I fell for the sneaky math they tried to show me would create value. For example, they said 7 nights in platinum peak season at my home property Elara would cost me $4,200 - but that's assuming a nightly rate of $600. But I've stayed there for business and pleasure a few times and never saw rates for studios go over $200-275 -- even one bedrooms were only around $420-500. Beyond that they said I had plenty of years to recoup my investment as I'm under 30 and most folks who purchase are older.
Questions for the forum:
1. Is this truly a very bad value and should I rescind? (think I'll know the answer to this) Note: I recognize buying direct will never be as good of a value as buying resale, but I'm willing to pay a slight premium in this scenario to own direct from Hilton.
2. If I rescind, will they try to recoup the costs of my trip? (i.e. I paid $800 for 6 nights at a property that should have cost me around $2,800, after purchasing was given a free breakfast after purchasing valued at about $200, a discount card to use on property which saved us about $150, etc.)
3. Will Hilton "hate" me for rescinding? I'm very loyal to the brand and a Diamond member, would hate for my account to get flagged somehow and get screwed every time I go to a Hilton property now
Very glad to have been referred to this forum just in time before my rescission period closes. Like many others who have posted here, I too am questioning my purchase. Apologies in advance for the novel length post.
About a year ago I called Hilton to modify a reservation for work and afterwards was forwarded to a HGVC rep for a great vacation offer - 6 nights in Hawaii for just a $200 fee, or upgrade to an amazing 2 bedroom suite with kitchen for $800. After delaying a few times due to scheduling conflicts, I finally grabbed some friends and headed out there last week for a wonderful and relaxing vacation, until the timeshare presentation came around.
Like so many others, I walked in truly intending to just listen for 90 minutes and walk out without buying anything, and even brought my friend who works in sales with me to keep me levelheaded, but by the end of it he was nearly sold as well. After 2 hours in the presentation with a very friendly salesperson I ended up buying at Elara. It wasn't until I got home and vacation mode turned off did I realize it may not have been the best idea, but still not convinced I was completed ripped off. Met with my financial adviser as soon as I got back and he wanted to slap me and told me to check out this website.
Looking some feedback, as my rescission window closes this Saturday and will need to mail the letter tomorrow if I decide to cancel. The cost isn't so much a concern (I'll pay it off very quickly to avoid the high interest financing) so much as the return on investment long term.
They showed me a number of substantially more expensive packages before I settled on the one below;
Property: HGVC Elara (Las Vegas)
Type: Deeded, 2,200 club points odd years, studio platinum (peak season)
Price: $11,050 (after a $3,250 discount for first time tour and Hilton Diamond member)
Maintenance: $830 odd years, $175 even years
Bonus: 3,200 bonus club points on purchase - access to RCI Last Call (something I could see myself using very often). Plus a discount card to use the rest of our stay on property.
--
I obviously am beginning to see the value of resale market from the great information on this site, but mainly just frustrated that I fell for the sneaky math they tried to show me would create value. For example, they said 7 nights in platinum peak season at my home property Elara would cost me $4,200 - but that's assuming a nightly rate of $600. But I've stayed there for business and pleasure a few times and never saw rates for studios go over $200-275 -- even one bedrooms were only around $420-500. Beyond that they said I had plenty of years to recoup my investment as I'm under 30 and most folks who purchase are older.
Questions for the forum:
1. Is this truly a very bad value and should I rescind? (think I'll know the answer to this) Note: I recognize buying direct will never be as good of a value as buying resale, but I'm willing to pay a slight premium in this scenario to own direct from Hilton.
2. If I rescind, will they try to recoup the costs of my trip? (i.e. I paid $800 for 6 nights at a property that should have cost me around $2,800, after purchasing was given a free breakfast after purchasing valued at about $200, a discount card to use on property which saved us about $150, etc.)
3. Will Hilton "hate" me for rescinding? I'm very loyal to the brand and a Diamond member, would hate for my account to get flagged somehow and get screwed every time I go to a Hilton property now