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Am I a dummy?

Discussion in 'New to Timesharing? Look Here!' started by Viazck, Jun 12, 2018.

  1. Viazck

    Viazck Guest

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    i wouldn't think I would ever buy a time share but here I am after going to two time share spiels. Still timeshareless but wondering if I'm a dummy.

    We went to the first 2-hour spiel. Said no. Got a $100 and three nights to use in the future. I think it was green something or other.

    Next spiel was with holiday inn. We got three night free except taxes. We are in myrtle beach. Taxes were $50. We got $100 voucher to use in the future on a hotel. And we got $199 deposit back. So that's what made this stay free.

    Went to the sales pitch. Was totally sucked in but couldn't pull the trigger because we usually don't make decisions on the fly like that. They offered me 40,000 point. Plus 40,000 extra (1x) for approx $9000. $386/year maintenance fee. Next deal was 50,000 points plus 100,000 extra (1x) for $11,000 and some change for same maintenance fee. Last was 200,000 points /$44,000.

    We didn't agree to the deal, but instead of getting our $199 back (this is the part I think might be dumb) we got a three day/two night stay for the $199 and we have saved the option for all of the deals they offered us.

    I've already paid the $199 deposit for this three nights and I essentially just moved that to my next trip so we basically got 5 nights for $200 in two different locations but I'm wondering if I made the right choice. Firstly that maintenance fee seems low to other posters but I'm still concerned about spending 9-11-44!!!! Thousand dollars for an every year vacation when you also add in another $400/year forever plus fees etc.

    We try to take vacations every year but aren't really "luxury" people per se. We actually like a bit of tent camping every trip. Plus forever contracts make me nervous. Any advice? Am I a dummy?
     
  2. Viazck

    Viazck Guest

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    Also: if people are buying after market then they obviously see "some" value in the product right?
     
  3. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    I don't think you're a dummy, but you ARE playing with fire. They will keep making you offers and one day, one of them will hit the right button and you'll be sunk. Obviously the vast majority of us DO timeshare, and enjoy it, after all it is Timeshare USER'S Group. Stick around. Learn about timeshare. Then when you go to the next presentation, you'll at least be inoculated against the worst of the lying weasels. Just promise us you'll NEVER attend a Wastegate- oops Westgate presentation.

    Jim
     
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  4. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    Or as we say: Buy Resale, Save Thou$and$!
     
  5. AwayWeGo

    AwayWeGo TUG Review Crew: Expert TUG Member

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    [triennial - points]
    Timeshares are great -- ever so much nicer than hotels. Plus (based on our experience since 2002), via resale timeshares (not full-price timeshares from timeshare companies), it is possible to enjoy spacious luxury timeshare vacation accommodations at Motel 6 & Super 8 rates.

    Buy timeshares resale. Save thousands of dollars on exactly the same thing as full-freight, or the equivalent, or something even better.

    Full Disclosure: We don't get Motel 6 & Super 8 rates by staying at our own timeshare. In fact, we rarely if ever stay at our own timeshare, certainly not in our own unit during our paid-for time. Instead, we get off-season & last-minute bargain reservations to stay in other people's timeshares via RCI Last Call & special sales on Extra Vacation Getaways, etc. Our next timeshare reservation (January 2019) is for a full week in a Vacation Village At Parkway 1BR "B" unit. We paid $159 for it, thanks to a special deal RCI was offering. Is this a great country or what ?

    -- Alan Cole, McLean (Fairfax County), Virginia, USA.​
     
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  6. T-Dot-Traveller

    T-Dot-Traveller TUG Member

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    The product has great vacation value / as others said while I was typing .

    1) I suggest you explore resale before pulling the trigger on a developer purchase .

    2)based on the sq footage - the MF on a TS is generally less per square foot than an equivalent brand hotel room , AND you get a kitchen / living room etc to use .

    3)Check out the TUG "bargain / free" sub forum as well as TUG Marketplace .
    as well as E-bay etc

    4) Don't rush into anything . Explore options

    5) Read & then pay to join TUG as a member
     
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  7. Viazck

    Viazck Guest

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    So they never said anything about a "home timeshare". We went in myrtle beach. If we take the three day/two night deal in gatlinburg would they be offering different deals? I was under the impression that you didn't have "a week somewhere " but points that you could use anywhere. If I buy resale, does that mean you own "a week" or points?
     
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  8. Viazck

    Viazck Guest

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    Thank you, that is the main reason we didn't purchase--because we basically wanted to explore options. But instead of getting out clean with my $199 we basically opted to go back into the sales pitch
     
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  9. T-Dot-Traveller

    T-Dot-Traveller TUG Member

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    You can buy either resale . Each has pluses & minuses.

    I personally would't go to too many - since there is a LOT of hot air (BS ) coming your way .

    however - TUG does have members who go every time they TS vacation - for the freebies / goodies & never buy .
    There is a TUG thread about - best goodie promo / quickest time before done .
     
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  10. Panina

    Panina TUG Review Crew: Expert TUG Member

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    Hgvc Eagles Nest, Hgvc Surf Club at Marco Island, Hgvc Plantation Beach Club at Indian River, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort Key West, Blue Ridge Village
    Welcome to tug. Stick around and you will learn the wonderful world of timesharing, how to do it affordable and right for you.

    DO NOT buy from the developer or at any sales presentation. Anything you can get from them you can get for pennies on the dollar or for free.
     
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  11. Viazck

    Viazck Guest

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    Thank you all for your kind replies. I am feeling less like a dummy but I am still kicking myself for giving them my 199 for another two nights and another spiel
     
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  12. AwayWeGo

    AwayWeGo TUG Review Crew: Expert TUG Member

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    [triennial - points]
    Our resale timeshare (eBay all the way) is points -- a triennial 1BR points unit (just about the bare minimum).

    It cost approximately $250. It came with free closing & free resort transfer & free points (i.e, paid-ahead maintenance fees).

    We were already members of the points-based timeshare exchange company (RCI). We had to pay RCI $98 to get the eBay points unit added to our existing RCI Points account.

    I don't count you a dummy for subjecting yourself to timeshare sales presentations -- specially since you don't allow yourself to get stampeded into springing for a full-freight timeshare. Shux, The Chief Of Staff & I sometimes sign up for another round of the old razzle-dazzle & ballyhoo, but mainly just for the freebies.

    -- Alan Cole, McLean (Fairfax County), Virginia, USA.​
     
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  13. Jan M.

    Jan M. Guest

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    RCI Grandview Las Vegas and Discovery Beach
    I'm not sure about all timeshare systems but we have deeds with everything we own. We get points but have actual deeds. Some systems sell you a contract for x number of points but you don't have a deed.

    If you are considering getting a timeshare decide what system or systems you want and keep watching the Bargain Deals in the Buying, Selling, Renting forum. People give timeshares away. Most timeshares trade in either RCI or II (Interval Intermational). I always recommend going with a points based week rather than a fixed week that you have to deposit to trade. Many people like the points weeks at Grandview Las Vegas because the maintenance fees are low there.

    You have to pay an annual fee to belong to RCI but that also gives you access to sale weeks and last call weeks that you don't use any points to book. During the sale that recently ended I booked a two bedroom/two bath unit at Silver Lake Resort in Orlando for the week starting the Saturday after Thanksgiving. The week after Thanksgiving is when Disney will have all the parks decorated for Christmas. The week cost me $203. We pay the extra fee to get platinum benefits with RCI and that gets me a little better price on sale weeks among other things. We've stayed at 7 different resorts in Orlando and I've been wanting to try this resort as people who have stayed there give it very good reviews.
     
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  14. AwayWeGo

    AwayWeGo TUG Review Crew: Expert TUG Member

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    [triennial - points]
    Grandview At Las Vegas is where we have our eBay triennial 1BR points unit.

    -- Alan Cole, McLean (Fairfax County), Virginia, USA.​
     
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  15. DaveNW

    DaveNW TUG Review Crew: Expert TUG Member

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    There are a variety of timeshares types. Some are Weeks-based, with a deeded home resort ownership. Others are Points-based, which may be attached to an underlying deeded ownership at a home resort, or within a timeshare system. And there are pure Points-based only, (e.g. WorldMark), that are only a points ownership, without an underlying deeded ownership at all. They each have their value, and should be researched before you buy (if you buy) into anything.

    The thing you don't want to do EVER, is buy from the Developer. They can, and do, say anything to make a sale, because they're counting on the commission they make off your purchase. They can act like your best friend, but they are worse than used car salesmen - if their lips are moving, they're lying to you. Bank on that.

    When you stop to think about it, there is no such thing as a "new" timeshare. By the time you get there to use your reserved time or unit, someone else has already slept in that bed, and someone else will be right behind you to sleep there the night after you leave.

    Buying resale will get you the same rights and benefits of buying from the Developer (in most cases), but for a fraction of the cost. After you're the owner, the ongoing costs are exactly the same, regardless of how you bought your timeshare - from the Developer or off the resale market.

    Take your time, enjoy your $200 vacation, do not buy ANYTHING until you can make an informed choice about what works for you and your family, and when you're ready, you can make the right choice. Timeshares can be a great way to vacation, but they are not for everyone. It is very easy to buy one, but can be very difficult to get out of one. Slow down, read everything you can on Tug, and be a smart consumer.

    Timesharing can be a great pastime, if done right.

    Dave
     
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  16. bogey21

    bogey21 TUG Member

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    As long as you don't buy and learn something new at the presentations I see nothing wrong with what you are doing.

    George
     
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  17. taterhed

    taterhed TUG Member

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    If you think the Holiday Inn is 'luxury...' You should really tour a few different TS systems to get a feel (before you consider buying)

    There's a pretty good step up from there into other, more flexible properties.... Nothing wrong with HIVC, but.....
     
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  18. Viazck

    Viazck Guest

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    Yes We are pretty simple people so holiday inn is luxury for us
     
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  19. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

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    Couple things they forgot to mention in your presentation. The sub $400 mf applies only to the 50,000 points. 100,000 would be double and the 200,000 would be $1600 per year. That is MF only. HICV also has an annual mandatory club fee which is about $159 per year regardless of how many points you own. There would be a $64 booking fee for most reservations in the system. 50,000 points won't get you much vacation time. In prime season you would pay at least that for a 1 BR for Friday and Saturday night. So by paying $600 (MF+membership fee+ booking fee) you could get a 2 night weekend in Myrtle beach in a 1 BR condo. That doesn't include what you paid out to purchase the points.
     
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  20. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    I am glad tschwa2 just clarified the value of those points because I had no idea what $9,000 would really get for you.

    Sounds like a huge waste of $9K to me, and of course the salesperson is telling you a whole lot of lies about the value, just to get you in the door. I think the salesperson heard you say you don't take fancy vacations and camping is okay, so he/she decided to go with a very small package to entice you to do it. It's really too easy to say no to a ridiculous sales spiel for two nights a year in a 1 bedroom for a $9K layout. That is worth $0 resale.

    You should look into other systems that will work better for you, but if you really like camping, don't buy a timeshare. We have friends who go to Maui once a year with us, and they love camping and have a camper on their truck. I really dislike the entire thing. The beds are not comfortable, showering is not easy, and I don't really appreciate the outdoors all day and all night long.

    Where do you live?
     
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  21. Vanvaq

    Vanvaq Guest

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    I'd like to know what you all think. I got sucked into a 1.5 hr presentation, that included breakfast, so I thought how bad can it be--I'll just eat slowly and just ask for my freebie at the end. Everyone was so nice and chatty, and then the price dropped dramatically, we shook some guys hand and drinks appeared...

    In the end this is what we walked away with:

    10 years
    20 weeks (unlimited use at 2 home resorts)
    $5, 900 total price
    --30% up front (roughly $2,300), and financed the rest (~$4,900)

    We get access to their 2 resorts in Playa del Carmen (The Reef Coco Beach, and The Reef Playacar) and still have to pay the all-inclusive fee of $86 per person/per night (which increases 5% every year). VIP rooms/beach/pool area, top shelf drinks, and member only restaurants.

    I've made contact, and gotten an official response about cancelling. I am hoping they accepted it within the 5 day cancellation window that allows me to get my deposit back (30% of the total). I have a call set with their legal person tomorrow to discuss the process further, but I was wondering what you all thought of the package in general, just IN CASE they try to come back with "you cant have your deposit back" which would then really make it hard for me to leave. They also included RCI free for 3 years, but I'm reading but on it now and it doesn't sound like that great of a deal, so I'm guessing my entire 20 weeks will be best spend in one of their 2 resorts in Playa, which was not what we wanted. What sold us was being able to use the exchange and all these svaings they talked about....which now in a clearer mind, I'm realizing aren't THAT amazing. We really wanted playa to be like the one visit a year and then trade in about half the weeks if we wanted to to go visit other places.

    Any/all opinions are welcome. This is a first for us, and I've been really upset at myself for falling for it. We should have know the whole exchange part was too good to be true.
     
  22. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

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    I won't answer ALL your questions, but your right to rescind CANNOT be waived. You will get EVERYTHING back. NO Mexican TS is worth this price- especially with you having to pay AI. We suggest rescinding by mail, and not giving them another shot at you, but if you are FIRM, and don't answer their 'why do you want out?' question with anything but "I'm exercising MY RIGHT to rescind!", They are trained to counter ANY 'reason/excuse' with lower price, more weeks, more perks, etc. etc.

    Please come back and tell us how you did. Good Luck!

    Jim
     
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