TUG MEMBERS: Joining TUG does not automatically register you as a user of the TUG Bulletin Board. You must register yourself.


*ads are disabled when logged in as a member*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 25 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. TUG has now saved timeshare owners more than $12,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $12Million dollars
    Dismiss Notice
  4. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  5. TUG is trying out a new program that will trade you a TUG membership for a Timeshare resort review if you are an expired member, or even just a guest here on the forums!

    Read more here
    Dismiss Notice
  6. Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
    Dismiss Notice
  7. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice
  8. TUG has now joined Priceline.com as an affiliate!

    Members and guests who book air travel, rental cars and even Cruise Vacations thru TUG's priceline links will now support TUG in the process!

    Read more here
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Rookie - First Purchase, How did I do?

Discussion in 'Buying, Selling & Renting Timeshares' started by Rachman, May 18, 2019.

  1. Rachman

    Rachman TUG Member

    Joined:
    Aug 29, 2018
    Messages:
    14
    Likes Received:
    5
    Trophy Points:
    53
    Location:
    New York, NY
    Hello TUG Family,
    2 Questions: 1) I just purchased a 2-bedroom Triennial Deeded Week 5 (Floating) at Vacation Village at Parkway (VVP) for $9500 (1 yr payoff plan - no interest) upfront. Maintenance is $969 (every three years). The VVP sales manager told me I would receive an RCI Certificate every year, good for one week stay throughout the year (not during summer). With the annual RCI certificate atop the deeded triennial week I felt, at the time, justified the $9500. How did my family (of 3) do on our first Timeshare purchase? We have 4 more days to rescind.

    Also, 2) I may be interested in converting to an RCI points structure as most of our travels are by getaways 2 day weekends. I believe this purchase is 74000 "tri"-annual point value. I did some research and believe each RCI certificate is good for 25000 points. Is converting from RCI weeks to RCI Points a good value? Any tips on how to do that, as I have another 40 days before receiving RCI Member ID?
     
  2. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
    Feb 10, 2007
    Messages:
    20,678
    Likes Received:
    4,123
    Trophy Points:
    599
    Location:
    Twin Falls, Eye-Duh-Hoe
    Rescind. You can get similar packages free (or nearly). Get one that's already been converted to RCI Points if that's what you want anyway. Any RCI resort you own will include access to unlimited Last Calls and Extra Vacations for those getaways.

    Follow the instructions in your contract to rescind. Do it by mail, and do not return to the salesroom.

    Welcome to TUG!

    Jim
     
    mpumilia, Fredflintstone and kwelty like this.
  3. SteelerGal

    SteelerGal TUG Member

    Joined:
    Mar 8, 2019
    Messages:
    385
    Likes Received:
    132
    Trophy Points:
    94
    Location:
    90740
    Resorts Owned:
    WDW, WKV, SDO, HPP, HH, Bay Club
    Welcome to TUG.
    Definitely rescind.
    Follow the advice given above.
     
    Rachman likes this.
  4. amycurl

    amycurl TUG Member

    Joined:
    Sep 26, 2011
    Messages:
    1,393
    Likes Received:
    504
    Trophy Points:
    224
    Location:
    Greensboro, NC
    Read, read, read here. Rescind, and then you'll find plenty of free RCI points available for the taking. (No, there's no catch; people just want out of the annual MF obligation for various reasons, none of which have to do with the actual vacation experience.)
     
    Rachman likes this.
  5. Rachman

    Rachman TUG Member

    Joined:
    Aug 29, 2018
    Messages:
    14
    Likes Received:
    5
    Trophy Points:
    53
    Location:
    New York, NY
    Thank you all. Curious though, don't I need to have a deed to be an RCI member in order to use/purchase the points? If so, 1) does it matter where the already point converted property is located - week, float/fixed, location, etc? 2) Will i ever have to visit that location? 3) If the location is not competitive with other resorts does it matter that I buy the converted point properties?
     
    Last edited: May 18, 2019
  6. Karen G

    Karen G Moderator

    Joined:
    Aug 17, 2004
    Messages:
    8,661
    Likes Received:
    607
    Trophy Points:
    699
    Location:
    Henderson, NV
    Resorts Owned:
    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    No. If you buy a timeshare resale that has already been converted to points, you could join RCI with that ownership. But, the fact that you still have questions as to whether or not you made a good deal is reason enough to rescind. You have just this one opportunity to exercise your right to rescind this purchase. If you don't do it, you're stuck with what you bought.

    After you've done a lot more research and after you fully understand how it all works you can still buy something from the developer if you really think it's a good deal. They are always happy to sell. But, I'll bet you find something better!
     
    DannyTS, klpca, Passepartout and 3 others like this.
  7. dayooper

    dayooper TUG Member

    Joined:
    Apr 14, 2018
    Messages:
    959
    Likes Received:
    553
    Trophy Points:
    154
    Location:
    The Land of Ice and Snow
    Resorts Owned:
    HGVC at The Flamingo
    Couldn’t have said it better myself. I’ll add join Tug. Best $15 you will spend timesharing. The unbiased reviews alone are worth it.
     
  8. montygz

    montygz TUG Member

    Joined:
    Feb 27, 2012
    Messages:
    148
    Likes Received:
    82
    Trophy Points:
    138
    To become an RCI member you would first need to acquire a timeshare.

    Instead of paying $9,500 you can get one for free or for just a few bucks. I repeat, they are selling something you can get for free for $9,500.

    For example, I paid $250 all-time for 98,000 points a year at the Grandview, another Vacation Villages property with even lower maintenance fees than Parkway.

    Rescind immediately, then study up on how timesharing works. There are many fees and costs involved you likely don't understand.

    You may learn that renting is a better fit and you don't have to buy anything.

    Consider yourself lucky you found TUG before the rescind deadline.
     
    klpca, Rachman and Karen G like this.
  9. Rachman

    Rachman TUG Member

    Joined:
    Aug 29, 2018
    Messages:
    14
    Likes Received:
    5
    Trophy Points:
    53
    Location:
    New York, NY
    Thank you, learning a lot so far. Yes, I agree $1 is better than $9500. The maintenance fee is the bigger issue for us, which with a Triennial plan we are only paying $323 a year vs $969. Amortized over a lifespan this seemed like a better deal, in addition we receive the RCI certificates annually. Plus we are still able to purchase these RCI points in the market on a whim like TUG members were mentioning above. Considering rescinding by tomorrow unless someone can talk me back into the plan. Does it cost money to convert from RCI weeks to points - other than RCI member price?
     
  10. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
    Feb 10, 2007
    Messages:
    20,678
    Likes Received:
    4,123
    Trophy Points:
    599
    Location:
    Twin Falls, Eye-Duh-Hoe
    I own an RCI Points TS. I have only stayed there once in the 15 years I have owned there, and rented that time. We just use it for the points and have been all over the US, Europe, Mexico, and Hawaii using the points. What you want to watch is the ratio (cost) of the number of points you get for the annual MF cost. The VV resorts are among the best. If the cost per point is under a penny each, it's a pretty good deal.

    Jim
     
    Rachman likes this.
  11. Rachman

    Rachman TUG Member

    Joined:
    Aug 29, 2018
    Messages:
    14
    Likes Received:
    5
    Trophy Points:
    53
    Location:
    New York, NY
    How's $969 for 74000 points? Came to $0.013458. Thinking about improving the ratio with a purchase here and there of RCI points. Definitely see what you are saying - Could be better. Oops, let me adjust this. How's $969 for 74000+75000 (annual RCI points in addition to deed x 3 years)? Came to $0.0065.
     
    Last edited: May 18, 2019
    Fredflintstone likes this.
  12. Karen G

    Karen G Moderator

    Joined:
    Aug 17, 2004
    Messages:
    8,661
    Likes Received:
    607
    Trophy Points:
    699
    Location:
    Henderson, NV
    Resorts Owned:
    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    Rachman likes this.
  13. Karen G

    Karen G Moderator

    Joined:
    Aug 17, 2004
    Messages:
    8,661
    Likes Received:
    607
    Trophy Points:
    699
    Location:
    Henderson, NV
    Resorts Owned:
    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
  14. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
    Feb 10, 2007
    Messages:
    20,678
    Likes Received:
    4,123
    Trophy Points:
    599
    Location:
    Twin Falls, Eye-Duh-Hoe
    I know from the thread title that you're wanting approval of the developer purchase you made. You won't get it from me. You are paying too much for the points in the long run. Those 74K are every 3 years so that is really just 25K a year, which only averages out to a 1 bedroom unit most of the time. PLUS a roughly $250 exchange fee (EACH) on top of the MF. Yes, you score well for the first 3 years, but after that you're on the hook for almost a buck a day for a vacation every three years.

    As I said in my first reply: rescind while you can. There are much better deals out there.

    Jim
     
    Rachman and SteelerGal like this.
  15. Rachman

    Rachman TUG Member

    Joined:
    Aug 29, 2018
    Messages:
    14
    Likes Received:
    5
    Trophy Points:
    53
    Location:
    New York, NY
    Thanks, eBay seems no doubt more up-to-date. I was wondering if Ebay was usually pretty legit/safe when purchasing TS's. Or is TUG's classified list more trustworthy, up-to-date?
     
  16. Rachman

    Rachman TUG Member

    Joined:
    Aug 29, 2018
    Messages:
    14
    Likes Received:
    5
    Trophy Points:
    53
    Location:
    New York, NY
    Wow! So over 3 years (being triennial) there is a $250 per each Annual RCI Week Certificate (250x3) + $250 per Deed week conversion? Totaled $1000 in conversion to RCI point fees every 3 years? Do I have to repeat the conversion every time, or can I just tell RCI that is what I want to do from now on?
     
  17. SteelerGal

    SteelerGal TUG Member

    Joined:
    Mar 8, 2019
    Messages:
    385
    Likes Received:
    132
    Trophy Points:
    94
    Location:
    90740
    Resorts Owned:
    WDW, WKV, SDO, HPP, HH, Bay Club
    However for $323/annually, you only get usage every 3yrs for a week. Whereas after becoming a member and studying, I picked up a 1bdrm at Sheraton Desert Oasis for $0. Mf is $700/annual usage. We can either stay there, rent, or trade into RCI or II.
    Spend the $15, study and learn.
     
    klpca and Rachman like this.
  18. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
    Feb 10, 2007
    Messages:
    20,678
    Likes Received:
    4,123
    Trophy Points:
    599
    Location:
    Twin Falls, Eye-Duh-Hoe
    I know nothing of this 'conversion', but there is an exchange fee each time you exchange RCI Points for a stay at any resort. And is the RCI membership included in your VV ownership? If not that's another $90 a year on top of the MF.
     
    Rachman likes this.
  19. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
    Feb 10, 2007
    Messages:
    20,678
    Likes Received:
    4,123
    Trophy Points:
    599
    Location:
    Twin Falls, Eye-Duh-Hoe
    As has been said, today would be a good time to write that rescission letter so you are able to take it to the post office Monday morning and save yourself nearly $10,000.

    Jim
     
    klpca, Rachman and SteelerGal like this.
  20. Fredflintstone

    Fredflintstone TUG Member

    Joined:
    Jul 15, 2018
    Messages:
    584
    Likes Received:
    582
    Trophy Points:
    154
    Resorts Owned:
    Rent only
    Rachman and SteelerGal like this.
  21. Fredflintstone

    Fredflintstone TUG Member

    Joined:
    Jul 15, 2018
    Messages:
    584
    Likes Received:
    582
    Trophy Points:
    154
    Resorts Owned:
    Rent only
    After your rescind period is over, here’s the canned response consumers receive from Vacation Village on BBB.

    In other words, Ha, ha, times up and you are in Charlottes Web now!

    about our concerns. continued below
    DW
    Vacation Village Resorts Response
    01/08/2019
    ***Document Attached*** January 8, 2019 Re: BBB Case ********* (the "Complaint") filed by ******* ****** (the "Consumer") regarding the purchase of a timeshare interval from Lando Resorts Corporation (the Developer") under Contract No. ******* (the "Contract"). To whom it may concern: Thank you for sending us the communication from the Consumers named above. I have reviewed the Complaint from the Consumers along with the file for the Contract at issue. After an evaluation of all relevant information, I wish to inform you that the Developer denies the allegations made in the Complaint. As background information, on March 11, 2018, the Consumers entered into an agreement to purchase a Timeshare Interval at Vacation Village at Parkway. The Developer provided the Consumers with financing (the "Loan") for the purchase of the Timeshare Interval. The Consumer has made 1 payment and is currently in default of her financial obligation under the Loan. The Developer is properly registered in all jurisdictions requiring registration and all required documents have been submitted to and approved by the governing regulatory authority. Likewise, all employees receive educational as well as practical on-site training, and all sales employees are properly licensed, where required. The Developer and its sales representatives exercise great care in educating each prospective purchaser about what they are purchasing. The closing process is divided between a Sales Representative and a Verification Officer. This split process is deliberate and serves to eliminate any possible confusion that the Consumers may have had. The Developer makes a concerted effort to assure that each prospective purchaser makes an informed and educated decision as to whether or not to purchase. All of the terms, fees and costs associated with the purchase are documented in writing for mutual protection. The Consumers participated in the entire sales and closing process and had the full opportunity to ask any and all questions before signing any documents and making the payment of the deposit. The Consumers also had the opportunity to simply decline the offer. In addition, the Consumers were entitled to rescind the Contract during the statutory ten (10) day rescission period. The rescission period is disclosed within the documents that they signed and received. Specifically, it is disclosed in bold print on two (2) documents; the Contract for Purchase and Sales and the Receipt for Timeshare Documents. The rescission period is clearly stated in bold print directly above the Consumers' signature on both of these documents; copies of these documents are attached for your reference. Once the rescission period expires, as it has in this case, the Contract cannot be rescinded and the Consumers cannot unilaterally decide not to be bound by the terms to which they already agreed. If the Consumers truly did not want to purchase the Timeshare Interval, they could have walked away from the sales meeting at any time. The Consumers had the option to not sign, not make a down payment and not agree to purchase. Instead, the Consumers participated in the entire sales and closing process, signed a multitude of documents, paid the down payment confirming their desire and intent to complete the purchase transaction. For the reasons cited above, the Developer is not willing to cancel the Contract, release the Consumers from their financial obligation or refund any monies paid as there is no evidence of Developer misrepresentation. It is our sincere hope that the Consumers will maintain and enjoy their vacation ownership. If they are having any trouble and need assistance in booking their next vacation, they can contact the Concierge Services Department at ************* A representative of the Concierge Services Department will be happy to assist them personally. The Developer is under no obligation to seek BBB accreditation and is not accredited with the BBB as a matter of choice therefore; all future communication concerning the Consumer's Timeshare Interval must be sent directly to Vacation Village Resorts Corporate Office by mail at **** East ******* Park Boulevard, Fort Lauderdale, FL XXXXX or by fax (XXX) XXX-XXXX. We appreciate your attention to this important matter. Very truly yours, ** ** **** Corporate Relations Manager
    anonymous user
    Customer Response



    Sent from my iPad using Tapatalk
     
    Rachman likes this.
  22. dayooper

    dayooper TUG Member

    Joined:
    Apr 14, 2018
    Messages:
    959
    Likes Received:
    553
    Trophy Points:
    154
    Location:
    The Land of Ice and Snow
    Resorts Owned:
    HGVC at The Flamingo
    Check out the bargain bin here on Tug. Every once and awhile, a Vacation Village will pop up, usually a biennial or triennial. These are free or only cost of transfer intervals. If you can get Grandview in Vegas, the MF’s are even better than Parkway.
     
    Rachman and Fredflintstone like this.
  23. Aurelius

    Aurelius TUG Member

    Joined:
    Jan 31, 2019
    Messages:
    76
    Likes Received:
    54
    Trophy Points:
    68
    Resale VV properties also get an annual RCI extra vacation certificate. I own at Grandview resale. The certificate is of minimal value, you have to pay a full exchange fee, the resorts are limited, and they can only be used close dated for basically unclaimed inventory so typically off-season and/or undesirable resorts.

    I enjoy my RCI points membership and the MF/points ratio at Grandview are great. I'd enjoy it a lot less if I paid retail. There's absolutely no benefit to buying from the developer for VV properties. Go buy a 98K Grandview contract on eBay. They are typically between $100-$500. Or a 122K Grandview (same yearly maintenance fee but more points) but expect to pay $3k+ for one of those. Still a better deal than retail.
     
    Rachman likes this.
  24. Aurelius

    Aurelius TUG Member

    Joined:
    Jan 31, 2019
    Messages:
    76
    Likes Received:
    54
    Trophy Points:
    68
    Also keep in mind if you ever plan to exchange for a Disney property, VV Parkway is not the property you want. Disney restricts exchanges from Orlando/Kissimmee timeshare owners. Other VV properties are fine. As stated earlier Grandview is a better deal anyway.
     
    Rachman likes this.
  25. Panina

    Panina TUG Review Crew: Elite TUG Member

    Joined:
    Jul 13, 2015
    Messages:
    3,873
    Likes Received:
    4,145
    Trophy Points:
    298
    Location:
    USA
    Resorts Owned:
    Hgvc Eagles Nest, Hgvc Surf Club, Hgvc Indian River, Hgvc Anderson, Sunrise Bay & Club, Chetola, Gulf Tides, Jade Tree Cove, Banyan Resort, Blue Ridge Village
    Are you going to recind? You have been given great advice here. Many of us weren’t as lucky as you to have found TUG in time. What you purchased you can get in resale for free. There is no scenario that makes your purchase a good buy. Hoping you will rescind. Welcome to TUG.
     
    Rachman and Fredflintstone like this.

Share This Page