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HGVC Elara - Rescind?

Discussion in 'Hilton Grand Vacations Club / HGVC' started by PatM, Jun 13, 2019.

  1. PatM

    PatM Guest

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    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
     
    TUGBrian and dayooper like this.
  2. brp

    brp TUG Member

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    1. Yes, you know the answer. Rescind. Why would you pay extra to own direct from Hilton?
    2. No, they will not.
    3. No, they will not. We are also Diamond and have received excellent treatment and some amazing upgrades.

    Recind.

    Cheers.
     
    TUGBrian, lvtraveler, RX8 and 3 others like this.
  3. RX8

    RX8 TUG Member

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    Another one with recommendation to rescind.

    HGVC is one of the most, if not the most, resale friendly timeshares. The only thing you give up being resale is the inability to obtain elite and elite doesn’t begin until you have 14,000 developer points. Many who are elite will verify that the perks are not worth the triple+ amount you would pay to be called elite. One side benefit of being resale is that they may not hound you for presentations during your stays.

    Best thing now is to take your time and read everything there is on HGVC. I joined TUG a full 1.5 years before I even purchased. I read my fill of TUG threads and sat through a number of HGVC presentations before buying resale.
     
  4. dayooper

    dayooper TUG Member

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    I’ll throw my two cents in here - Rescind. I have seen those 2200 platinum annual units (not every other year) units at Elara go for free on the Tug Bargain Buys forum. Now, they don’t come up often, but I have seen them.

    HGVC treats their resale owners very well. They have the same booking windows and reservation rights as developer bought units. As stated above, the only difference is Elite status and most would say it’s not worth the immense cost in acquiring.
     
    TUGBrian, RX8, Hsahota1 and 2 others like this.
  5. Nomad420

    Nomad420 Guest

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    Small number of points and every other year, yes rescind. I keep wanting to hear someone come out of those meetings with even a OK deal but almost universally they can be beat in the resale market. This one is no exception.
     
  6. GT75

    GT75 Moderator

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    I also recommend rescinding. Like others, you were sold too few points for way too much. I agree with the advice already given.
     
    TUGBrian, dayooper and PatM like this.
  7. PatM

    PatM Guest

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    Qualifying for Elite sometime down the line is a component of it. Other than that, not much I suppose. But sounds like Elite may not even be worth it


    Appreciate everyone's input, will be sending out my rescission letter tomorrow. Chalk another $11k up to the savings counter haha
     
    TUGBrian and dayooper like this.
  8. Panina

    Panina TUG Review Crew: Elite TUG Member

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    You know, everyone agrees Recind. Way too few points, too high in price. Once you learn about the system you will say I am so glad I recinded.

    Welcome to Tug, hope you stick around. You have a great financial advisor, he saved you $11050 by sending you to TUG
     
    CalGalTraveler, TUGBrian and dayooper like this.
  9. Hsahota1

    Hsahota1 TUG Member

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    Rescind->Research->Resale
     
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  10. Talent312

    Talent312 Tug Review Crew: Rookie TUG Member

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    Dude, you were hornswoggled a/k/a ripped off.
    You won't be able to book squat with the points.
    That point-poor package has zero market value.

    RESCIND. Follow the instructions in the contract.
    Research. Look at resale prices in Redweek and these
    brokers: www.judikoz.com and www.sellingtimeshares.net.

    Avoid the HGVC sales-weasels and you'll find that it's a
    system that is fairly consumer-friendly and very flexible.
    Resale buyers get all the same benefits as retail buyers,
    ... 'cept only elite status that starts at 14K points.
    .
     
    Last edited: Jun 13, 2019
    TUGBrian, lvtraveler and dayooper like this.
  11. lvtraveler

    lvtraveler TUG Member

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    That is an absolutely terrible deal. Get out of that before it's too late. As noted before, Rescind->Research->Resale ... I did
     
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  12. brp

    brp TUG Member

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    Wait...did I say rescind? I meant "keep the deal, it's a good one..."

    (No, not really...but someone had to say something different :))

    Cheers.
     
  13. nobodyhasthisname2

    nobodyhasthisname2 TUG Member

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    I just bought 7000 annual platinum points at HGVC on paradise for $7500 -plus I get this years points without reimbursing the maintenance fee. You can buy a LOT on the resale market for less than you paid for that contract. I haven’t used my points yet but based on my research, the people working at the resorts don’t have any knowledge where you got the points so you shouldn’t be treated any differently. I think there are even brokers selling resale for Hilton - so if you’re keen on buying from them, maybe look into that option....although I don’t think it would make much of a difference.


    Sent from my iPhone using Tapatalk
     
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  14. dayooper

    dayooper TUG Member

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    If Elite is important to you, Craigendroch's resale department does count toward elite status and they run fairly cheap. They are Holiday Certificates (Right To Use) with no deed, but, excepting you have to release the points into your account, it works the same as any other property. Because of the exchange rate, the MF's are some of the best in the system! If I remember correctly, there are a couple of SW Florida Affiliates that their resales count toward elite status. In every case, you have to buy from the resort itself for them to count.
     
  15. brp

    brp TUG Member

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    They do know, but there is no different treatment. For example, at the Big Island resorts, Elite members are given an Elite wristband that has some extra perks. We own 15,250 points (enough for Elite) but they're all resale. They knew and we did not get elite perks.

    On the other hand, when we stay at W. 57th, they always say "thanks for being Elite," but I don't think it matters for anything there :)

    Cheers.
     
  16. Nomad420

    Nomad420 Guest

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    What if your points are a mix of resale and developer's can they/do they actually carve them apart and determine that you are actually not "Elite" as some of the total points were from the resale market?
     
  17. brp

    brp TUG Member

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    Don't know. I actually don't know what they see or how they know. I only know that they could tell we were not "real" Elite when we were at Kohala. There must be something in the system that indicates this. I don't think the agents at the desk know anything about our ownership points. If it's within the system, I would imagine that it knows which points (and, specifically, how many) are developer versus resale.

    Cheers.
     
  18. GT75

    GT75 Moderator

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    Your points are all in the same appropriate buckets and aren't differentiated (as I understand it anyway). How they know a difference is on your login screen. It will state your elite status. This I am sure is also on your reservation when you check-in.
     
  19. PatM

    PatM Guest

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    Thanks all for the input, mailed the rescission letter out yesterday via certified mail and also faxed over as well for good measure. Hoping it gets in before the deadline of midnight today
     
    Inhislove likes this.
  20. dayooper

    dayooper TUG Member

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    Congrats on saving $11000! Doesn’t matter when it gets there, just as long as it’s postmarked by the deadline.
     
    lvtraveler likes this.
  21. Finsadbel

    Finsadbel Guest

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    Great decision on the rescind! There are LOTS of great deals out there for ELARA points resales! We got a great deal on ours through a broker at the end of last year (even though several people on here we are full of it!) after we found Tug and took all the advice we had been reading.

    Looks like most people are seeing pricing around the $1/point mark for resales. Again, David Patchanian treated us well! Comes highly recommended!
     

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