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

TUG Saved Me $40,000

Discussion in 'Buying, Selling & Renting Timeshares' started by ChrisL89, May 9, 2019.

  1. ChrisL89

    ChrisL89 Guest

    Joined:
    May 9, 2019
    Messages:
    3
    Likes Received:
    12
    Trophy Points:
    3
    My girlfriend and I visited South Beach Resort in Myrtle Beach this past week by taking the $199 vacation offer.

    I bought what I thought was a good deal for 100,000 points. Glad I got back and did some research. Waiting on gf to get home now to sign her name to the rescind letter and it'll be going in the mail with as much documentation/proof of sending it that I can.

    One thing that I didn't really understand from the very beginning was the concept itself. Since its no longer buying a week at the property and its the points system. The sales person never did a great job of connecting the dots for me as to why its even still sold as property.

    To me, I would think they should sell it as some sort of travel rewards system thats been totally revamped.

    Regardless, the $$ was well within our budget and seemed like a good way to have some nicer vacation stays over the years for a fairly low monthly payment of around $320

    I'll do some more reading on the subject but will definitely be looking on the aftermarket.
     
    mdurette, AwayWeGo, qlaval and 5 others like this.
  2. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    10,374
    Likes Received:
    1,617
    Trophy Points:
    498
    Location:
    East Coast
    To ChrisL89... Below is the TUG motto....

    “Knowledge is Power” By Sir Francis Bacon and you have now saved $40K. Please have your GF signed all the documents and returned them before the recession date.

    Good luck and Welcome To TUG.
     
    Last edited: May 10, 2019
    Panina likes this.
  3. TUGBrian

    TUGBrian Administrator

    Joined:
    Mar 24, 2006
    Messages:
    17,699
    Likes Received:
    2,363
    Trophy Points:
    749
    Location:
    Florida
    fantastic! so very happy that you found us in time to save such a huge chunk of change!

    that saved 40k will go a long way into making your family vacations pretty incredible over the next few years!
     
    taffy19 and Panina like this.
  4. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    21,302
    Likes Received:
    1,172
    Trophy Points:
    549
    Location:
    The Centennial State
    Resorts Owned:
    Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; Blue Ridge Village.
    Which point system was it? Was it RCI Points or Club Wyndham? I am just curious to know what they tried to sell you. Glad they didn't get you for $40K.
     
  5. Panina

    Panina TUG Review Crew: Elite TUG Member

    Joined:
    Jul 13, 2015
    Messages:
    3,871
    Likes Received:
    4,143
    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
    Welcome to TUG. So glad you found us in time. Here you will learn everything you need to know to make an informed decision. You might find a different system will work better for you.
     
  6. ChrisL89

    ChrisL89 Guest

    Joined:
    May 9, 2019
    Messages:
    3
    Likes Received:
    12
    Trophy Points:
    3

    It was 100,000 HICV points which can be converted to RCI or whatever their other system is.

    $18,000 @ 16% interest. Was gonna be around $40k over the 10 years

    The main thing that made me buy is because I was seeing it as paying it off and continuing to get the points forever basically. Despite my skepticism they assured me hotels would continue to be the same points amount forever and that eventually it pays for itself. Which is nice in concept. Def glad to learn about the aftermarket points that are available.
     
  7. echino

    echino TUG Member

    Joined:
    Dec 2, 2008
    Messages:
    418
    Likes Received:
    199
    Trophy Points:
    254
    Location:
    Vancouver
    Resorts Owned:
    Hyatt Piñon Pointe
    Harborside Resort at Atlantis
    Marriott's Canyon Villas
    Marriott's St. Kitts Beach Club
    Yes, you would continue getting the points forever, but even after you pay off the purchase price, you would also be forever responsible for annual maintenance fees which would increase above inflation every year, making points worthless.
     
    hudshut, qlaval and LannyPC like this.
  8. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    21,302
    Likes Received:
    1,172
    Trophy Points:
    549
    Location:
    The Centennial State
    Resorts Owned:
    Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; Blue Ridge Village.
    I think you should look at buying something, but get it free on eBay or here on TUG. There are wonderful units being given away in both places. Check the Bargain Deals forum here on TUG. I have seen units I would love to have (but I have plenty and don't need more). So check Bargain Deals and ask questions of those of us who are willing to give advice. First, I would look into something not in RCI (personally dislike RCI). Get something that is a good trader in II. Interval International has been my go-to exchange company for many years. RCI is not the best, in my opinion.
     
  9. LannyPC

    LannyPC TUG Member

    Joined:
    Jul 5, 2010
    Messages:
    2,683
    Likes Received:
    484
    Trophy Points:
    218
    Location:
    British Columbia
    Smart move. We here on TUG usually recommend to people in situations like yours to do at least a few months of research before accepting a TS, even if it's a free one. There is lots of information to digest. Maybe start be reading the personal survey in the New To Timeshares Forum which will help you decide if owning a TS is right for you.
     
    TUGBrian likes this.
  10. MOXJO7282

    MOXJO7282 Tug Review Crew: Rookie TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    4,857
    Likes Received:
    529
    Trophy Points:
    349
    Why would anyone do this? I guess they get caught up in the moment and don't consider the big picture because this is a bad financial decision unless you're getting upfront incentive and can then pay off the loan early. Paying the full loan is like paying an incredible premium for every vacation. Crazy.
     
    TUGBrian likes this.
  11. ChrisL89

    ChrisL89 Guest

    Joined:
    May 9, 2019
    Messages:
    3
    Likes Received:
    12
    Trophy Points:
    3
    We had all intentions of paying it off way early. So wouldn't have paid near that.

    the good news is we did get our refund on credit card and letter from them letting them know they have cancelled our offer. thank god.
     
  12. vacationtime1

    vacationtime1 Tug Review Crew: Rookie TUG Member

    Joined:
    Sep 7, 2006
    Messages:
    3,323
    Likes Received:
    776
    Trophy Points:
    349
    Location:
    San Francisco
    Resorts Owned:
    MAW & MKW (Kauai)
    WKORV-OFC (Maui)
    WKV x4 (Scottsdale)
    You were wise to have found this site and wise to rescind. Now: Take your time. Do lots of research. Prices aren't going up in the interim.

    I always suggest renting a couple of times before buying anything. It will sharpen your sense of what you like, what is important, and how much to purchase.
     
    TheTimeTraveler and TUGBrian like this.

Share This Page