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 24 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. TUG started 25 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
    Dismiss Notice
  4. TUG has now saved timeshare owners more than $10,000,000 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 $10Million dollars
    Dismiss Notice
  5. 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
  6. 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
  7. 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
  8. 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
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Your honest opinion about my timeshare purchase

Discussion in 'Buying, Selling & Renting Timeshares' started by RSTravel, Dec 5, 2018.

  1. RSTravel

    RSTravel Guest

    Joined:
    Dec 5, 2018
    Messages:
    12
    Likes Received:
    12
    Trophy Points:
    3
    Resorts Owned:
    Elara - Las Vegas
    I just purchased into Hilton Grand Vacation Club on Friday, November 30th (I'm still within the 7 day cancel window per my contract). I signed up as my home club at the Elara in Las Vegas under a Studio Room.

    We believe that a timeshare is right for us; however, I want your opinion on whether or not you believe we got a decent deal from the purchase. Please be honest. I will not mind either way.

    We don't plan on using many of our points in Las Vegas. We plan on using most of them for other Hilton Vacation Club Resorts or RCI exchanges. Some we will convert to Hilton Honors Points, but not a lot of them.

    Our purchase was $400/ month for 10 years (this includes the interest; however, we can pay off early and not pay nearly as much). The annual maintenance fee is $1,100; however, that is every OTHER year.

    The points we will receive is 7,000 points every OTHER year, and a one-time bonus of 8,000 points.

    Can you let me know your opinion as to the value of what we received. This is our first time share purchase, and we purchased because we thought it was an average value/deal.
     
  2. Panina

    Panina TUG Review Crew: Expert TUG Member

    Joined:
    Jul 13, 2015
    Messages:
    2,892
    Likes Received:
    2,708
    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 and consider yourself lucky that you found TUG in time to save your money.

    It is a horrible deal. Rescind immediately. Follow directions, make sure everyone signs rescission letter that signed contract and send certified mail for proof.

    You can find an every year resale contract for 7000 points for less then $7000 total and have the same use.

    Hgvc is a wonderful system that I own too. I purchased all my points resale. Best to stick around and learn the hgvc system and then decide what you want to buy.

    Don’t delay, get that letter out immediately.
     
  3. needvaca

    needvaca TUG Member

    Joined:
    Apr 18, 2017
    Messages:
    43
    Likes Received:
    38
    Trophy Points:
    78
    Resorts Owned:
    WKV, SBP
    $400/mo for 10 years?!? That's $48,000. That's a terrible, terrible deal. Rescind as fast as you can. As Panina says, follow every rule to a T. Do it today.

    Then after the dust has settled and you make sure you get confirmation of completed rescission and cancellation, then take your time researching on TUG. Check out other HGVC resorts too.

    Also, check out Redweek to see what Elara is worth on resale market- $700-$7900, but only $3000 max for a studio. https://www.redweek.com/resort/P5724-elara-a-hilton-grand-vacations-club/timeshare-resales
     
  4. jbiza

    jbiza TUG Review Crew: Expert TUG Member

    Joined:
    Jun 7, 2005
    Messages:
    128
    Likes Received:
    16
    Trophy Points:
    228
    +1 agree with previous posters that you did not get a good deal.

    Rescind/cancel per contract directions immediately & then take the time to research here on TUG. :thumbup:
     
  5. dayooper

    dayooper TUG Member

    Joined:
    Apr 14, 2018
    Messages:
    515
    Likes Received:
    256
    Trophy Points:
    114
    Location:
    The Land of Ice and Snow
    Resorts Owned:
    HGVC at The Flamingo
    Recind now. Research what you want out of your TS. Buy resale. Get that recession letter in today!
     
    RSTravel likes this.
  6. Lowbud

    Lowbud TUG Member

    Joined:
    Jan 4, 2018
    Messages:
    9
    Likes Received:
    4
    Trophy Points:
    53
    Resorts Owned:
    Royal Resorts, The Royal Cancun, The Royal Sands, The Royal Haciendas
    Westgate Smokey Mountain
    Vacation village Weston
    Grandview Las Vegas
    Ouch!

    Rescind/cancel per contract directions immediately & then take the time to research here on TUG. :thumbup:
     
    RSTravel and mpumilia like this.
  7. GT75

    GT75 Moderator

    Joined:
    May 30, 2016
    Messages:
    1,333
    Likes Received:
    480
    Trophy Points:
    293
    Location:
    Gig City in Tennessee
    Resorts Owned:
    HGVC-x7
    You will have spent $48K + $5k on this purchase in 10 years for 5 weeks in a hotel room (studio). As others have suggested, rescind first. Send by certified mail today your paperwork to the address given in your documents with all people signing who signed the original contract.

    After that is done, you can start researching. I know that you will be able to buy a HGVC TS for probably less than $1/point.

    btw, HGVC treats their resale owners very well.
     
    RSTravel and mpumilia like this.
  8. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    9,498
    Likes Received:
    1,081
    Trophy Points:
    448
    Location:
    East Coast
    Rescind, Please do not pay almost $50,000 for a timeshare!! Please read Tug’s 101.

    Read about how to purchase resell and saved $40,000 or more in your pocket.

    Please do your Homework and Research .

    Please do not purchase a studio. Research why? Unless you always travel alone.

    Rescind and follow the instructions to Rescind in Writing. Right Now.!!!!

    Please follow the Moderator advice GT75. Read it Please.
     
    RSTravel and mpumilia like this.
  9. RX8

    RX8 TUG Member

    Joined:
    May 5, 2011
    Messages:
    1,556
    Likes Received:
    337
    Trophy Points:
    193
    As GT75 points out, for the first 10 years you will get 5 weeks of vacations that will cost you over $10,000 per vacation. This is about as bad as it gets. Also, timeshares just don’t make sense if it needs to be financed.

    Another reason to rescind, not as if another is even needed, is that you don’t fully understand what you purchased. 7,000 points EOY at Elara is going to be either a platinum 1 bdm grand or a gold 2 bdm plus.

    If your purchase was consummated in Nevada the rescission period is only 5 days. However, it is possible that HGVC exceeds the minimum 5 days mandated by NV law. Hopefully your contract clearly states 7 days.

    Read and ask lots of questions. I joined TUG a full year before I even bought a timeshare. If you determine it makes sense for you, buy resale and pay pennies on the dollar. Being able to pay cash for the purchase lessens the stress and burden of paying big monthly fees. Plus, when and if you decide to sell it makes it that much more simple to do.

    Good luck!
     
    Last edited: Dec 5, 2018
    RSTravel likes this.
  10. bluehende

    bluehende TUG Review Crew: Veteran TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    1,054
    Likes Received:
    826
    Trophy Points:
    323
    Rescind immediately. I would be willing to bet that even renting you could get your vacations at pennies on the dollar you have paid.
     
    RSTravel likes this.
  11. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
    Feb 10, 2007
    Messages:
    19,479
    Likes Received:
    2,801
    Trophy Points:
    599
    Location:
    Twin Falls, Eye-Duh-Hoe
    Congratulations RSTravel! This MAY just be the MOST EXPENSIVE studio timeshare we've seen here! We've no doubt that you can save about 90 cents on the dollars you already committed to this by acquiring it as a resale. HGVC treats their resale owners exactly the same as retail buyers, and remember that ALL timeshares are used. There is no such thing as a NEW timeshare, so one acquired in the resale market is exactly the same product. It just costs a fraction of one bought from the developer.

    So write that letter today and get it in the mail. And enjoy that nearly $50,000 you've saved.

    Jim

    P.S. Oh, and stay away from the sales room, and don't answer phone calls from numbers you don't recognize. The sales team will try to save the sale and their commission.
     
    RSTravel and jehb2 like this.
  12. jl2010

    jl2010 TUG Member

    Joined:
    Oct 27, 2010
    Messages:
    82
    Likes Received:
    28
    Trophy Points:
    128
    Location:
    Central Massachusetts
    Resorts Owned:
    Cove At Yarmouth
    Oh my! I won't repeat the sentiments of above, but I agree with all of them. Please follow-up and let us know how it works out.
     
    RSTravel likes this.
  13. PigsDad

    PigsDad TUG Member

    Joined:
    Nov 1, 2006
    Messages:
    5,525
    Likes Received:
    1,016
    Trophy Points:
    448
    Location:
    Northern Colorado
    Resorts Owned:
    HGVC Elite: SeaWorld, Surf Club, Charter Club
    It's worse than that -- the OP said that this is an EOY purchase, so at best they would get 3 stays in the first 5 years. That comes out to (drum roll please...) ~$17K per stay in a studio in Vegas. Or a mere $2,400+/night. That has got to be an amazing studio! ;)

    Please rescind! I, too, am a happy HGVC owner, but there are much better deals out there via resale, and no matter what the salesmen may tell you to the contrary, resale owners are treated exactly the same as retail buyers. We have access to all the same exchange privileges, programs, etc. The only difference is that you points will not count toward Elite status, but at 7000 EOY points, you were only 1/4 the way to the first level of Elite, and that only gets you some minor benefits, like $10 off reservations, etc.

    Kurt
     
    RSTravel likes this.
  14. RSTravel

    RSTravel Guest

    Joined:
    Dec 5, 2018
    Messages:
    12
    Likes Received:
    12
    Trophy Points:
    3
    Resorts Owned:
    Elara - Las Vegas
    It appears that everyone agrees that we did not get a good deal. I will discuss it with my partner this evening and send out the cancellation notice. Although in Nevada you have 5 days, it appears that the California notice allows us 7 days (because we are a resident of that state)

    Just so everyone knows exactly what I was thinking, and why I thought it was not a terrible deal -- is because the way I read the point valuation chart, it appears that if we stayed in a studio or 1bdr in most location, the cost would would allow us between 2 - 4 weeks every two years. However, clearly, I must not have recalled the charts correctly.

    Once I cancel, I will do more research on this website, as I have not done any research before attending the presentation and signing the contract.
     
    wackymother and Panina like this.
  15. PigsDad

    PigsDad TUG Member

    Joined:
    Nov 1, 2006
    Messages:
    5,525
    Likes Received:
    1,016
    Trophy Points:
    448
    Location:
    Northern Colorado
    Resorts Owned:
    HGVC Elite: SeaWorld, Surf Club, Charter Club
    Please be positive you have 7 days -- not sure if the rule depends on what state you signed or the state of your residence. To be on the safe side, get it in the mail TODAY. Send it certified mail, then you have proof of the date that it was sent (that is all that legally matters, it doesn't matter when they receive it).

    With almost $50K at stake, I wouldn't wait until tomorrow. If you miss by one day, you are legally stuck with the deal!!!

    Good luck!
    Kurt
     
    wackymother and RSTravel like this.
  16. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    6,040
    Likes Received:
    761
    Trophy Points:
    398
    Location:
    Houston, TX
    Resorts Owned:
    Wynd VIP Plat, HGVC Elite, HICV, + few others
    You have one opportunity to rescind and a lifetime to repurchase. I think you made the right decision. What you purchased you should be able to purchase for a few thousand at most.

    Ignore the bonus points, and just value the points you will have. You will find you get a much better deal resale.
     
    wackymother and RSTravel like this.
  17. RSTravel

    RSTravel Guest

    Joined:
    Dec 5, 2018
    Messages:
    12
    Likes Received:
    12
    Trophy Points:
    3
    Resorts Owned:
    Elara - Las Vegas
    Just a few corrections. The total purchase price was 25k. The 50k price was with all the interest included. It was also for a 1bedroom grand in platinum season, not a studio as I mentioned earlier.

    I'm not trying to change anyone's mind. I'm just correcting the incorrect information I placed earlier.
     
    PigsDad likes this.
  18. PigsDad

    PigsDad TUG Member

    Joined:
    Nov 1, 2006
    Messages:
    5,525
    Likes Received:
    1,016
    Trophy Points:
    448
    Location:
    Northern Colorado
    Resorts Owned:
    HGVC Elite: SeaWorld, Surf Club, Charter Club
    You are reading the charts correctly. It is possible to stretch 7000 points to 2-4 weeks in a studio depending on the season you stay and staying weekdays instead of weekends. But the bottom line is that you could purchase an every-other year 7000 point contract on the resale market easily for less than $4K -- probably much less. So there is no reason to pay even $25K for the exact same thing.

    As others have said, congrats on finding this site before it was too late!

    Kurt
     
    RSTravel likes this.
  19. RSTravel

    RSTravel Guest

    Joined:
    Dec 5, 2018
    Messages:
    12
    Likes Received:
    12
    Trophy Points:
    3
    Resorts Owned:
    Elara - Las Vegas
    Question for this group. Does buying resale, still give you the perks of obtaining the "cash discount" that is offered with a Hilton Timeshare purchase?
     
  20. jpc763

    jpc763 TUG Member

    Joined:
    Aug 10, 2010
    Messages:
    498
    Likes Received:
    31
    Trophy Points:
    139
    Location:
    Fort Collins, CO
    Resorts Owned:
    Marriott's - Ko Olina, Shadow Ridge Villages & Imperial Palms Villas
    I would really check to see how long you have. Today is the 5th calendar day since purchase. Midnight today (12/5) is the deadline for a timeshare purchased in Nevada. I would put it in the mail today to be sure! You do not want to have a lifetime of regrets because you thought you had an extra 2 days!
     
    wackymother and RSTravel like this.
  21. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    6,040
    Likes Received:
    761
    Trophy Points:
    398
    Location:
    Houston, TX
    Resorts Owned:
    Wynd VIP Plat, HGVC Elite, HICV, + few others
    By cash discount do you mean Open Season, which is cash prices starting 30 days out. Then the answer is yes, but it is not as great a value as it used to be. I have not yet seen the 2019 pricing.
     
    RSTravel likes this.
  22. RSTravel

    RSTravel Guest

    Joined:
    Dec 5, 2018
    Messages:
    12
    Likes Received:
    12
    Trophy Points:
    3
    Resorts Owned:
    Elara - Las Vegas
    I am referring to a "cash discount" for Hilton hotel properties, that the sales representative told us that you could log into and obtain discounts on regular hotel stays (nothing to do with using your points). Example: As a vacation club member, he showed us that a room that we could get for $190 a night this past weekend, we could have gotten for $100 or $110.
     
  23. GT75

    GT75 Moderator

    Joined:
    May 30, 2016
    Messages:
    1,333
    Likes Received:
    480
    Trophy Points:
    293
    Location:
    Gig City in Tennessee
    Resorts Owned:
    HGVC-x7
    He was lying. Neither with direct nor resales purchase, do you get any discounts with Hilton Hotel stays.

    HGV and Hilton Hotels are two separate companies now. I have heard others talk about the sales staff stating this one but have never heard it myself. What I have mainly heard now from sales is to convert your HGVC club points to Hilton honors points at 25-1. This is really a terrible idea which you will also lose money doing. It is usually best to use HGVC club point in HGVC stays. For purchasing, I would recommend looking only at that.
     
    Last edited: Dec 5, 2018
    RSTravel and PigsDad like this.
  24. GT75

    GT75 Moderator

    Joined:
    May 30, 2016
    Messages:
    1,333
    Likes Received:
    480
    Trophy Points:
    293
    Location:
    Gig City in Tennessee
    Resorts Owned:
    HGVC-x7
    I will add as others have already stated, the ONLY difference with purchasing HGVC resales is that it doesn't count towards elite levels (this wouldn't even come into play with this purchase and only a very minor benefit not worth spending $200K to obtain). Well, you also wouldn't get any bonus points (minor, save your money) and you would spend so much less money (I would think that should be a benefit).
     
    RSTravel and PigsDad like this.
  25. PigsDad

    PigsDad TUG Member

    Joined:
    Nov 1, 2006
    Messages:
    5,525
    Likes Received:
    1,016
    Trophy Points:
    448
    Location:
    Northern Colorado
    Resorts Owned:
    HGVC Elite: SeaWorld, Surf Club, Charter Club
    I'll second GT75's comment: the salesman was lying. As a HGVC owner, you do become Hilton "Silver"-level Honors members and you can convert your HGVC points to Honors (a horrible use of points!), but that is the limit to the HGVC / Hilton relationship. No big cash discounts, sorry.

    Kurt
     
    RSTravel likes this.

Share This Page