speedburner
newbie
- Joined
- Nov 16, 2019
- Messages
- 1
- Reaction score
- 0
- Points
- 1
- Location
- Akron, Ohio
- Resorts Owned
- HGVC Anderson Ocean Club
Hello everyone,
I have been a HGVC owner since February 2018; it's the usual story, I had been travelling with HH for work, got invited to the stay at Parc Soleil, and genuinely enjoyed the property, got talked into the sale during the presentation. Used the original purchase once to stay at Parc Soleil again for the WDW Marathon. They had me again for another bonus week in February of this year, and managed to upsell me to a 5,800 (annually) 2BP Gold week at Anderson Ocean Club.
The monthly payments since the upsell have hit me far harder than anticipated amidst other financial commitments, and seeing the maintenance fees for the end of the year now have just made me clench.
I don't recall exactly what my original contract was (I want to say it was 1,500 also at AOC) but at the very least that monthly payment was far more manageable.
I also don't see myself being able to travel to most of the HGVC destinations within the next few years pending other commitments, so I'm debating between trying to see if they will let me scale down, or to just try to get out of it all together.
Reading other posts it looks like getting out with the majority of the loan balance intact is somewhere between impossible and a guaranteed bankruptcy, but lately my credit rating is already on the mediocre side so I'm not sure what else an extra hit would do anyway.
Does anyone have any experience with trying to step down a contract, or is that just not something that's done?
I'm also a newbie as to what HGVC weeks tend to be more valuable on the resale market than others, I know the 1500-1600 point ones seem to be practically worthless, but not sure how the 5K ballpark ones do.
Thanks everyone for any advice you can give.
I have been a HGVC owner since February 2018; it's the usual story, I had been travelling with HH for work, got invited to the stay at Parc Soleil, and genuinely enjoyed the property, got talked into the sale during the presentation. Used the original purchase once to stay at Parc Soleil again for the WDW Marathon. They had me again for another bonus week in February of this year, and managed to upsell me to a 5,800 (annually) 2BP Gold week at Anderson Ocean Club.
The monthly payments since the upsell have hit me far harder than anticipated amidst other financial commitments, and seeing the maintenance fees for the end of the year now have just made me clench.
I don't recall exactly what my original contract was (I want to say it was 1,500 also at AOC) but at the very least that monthly payment was far more manageable.
I also don't see myself being able to travel to most of the HGVC destinations within the next few years pending other commitments, so I'm debating between trying to see if they will let me scale down, or to just try to get out of it all together.
Reading other posts it looks like getting out with the majority of the loan balance intact is somewhere between impossible and a guaranteed bankruptcy, but lately my credit rating is already on the mediocre side so I'm not sure what else an extra hit would do anyway.
Does anyone have any experience with trying to step down a contract, or is that just not something that's done?
I'm also a newbie as to what HGVC weeks tend to be more valuable on the resale market than others, I know the 1500-1600 point ones seem to be practically worthless, but not sure how the 5K ballpark ones do.
Thanks everyone for any advice you can give.
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