advice for a buy please!

[maigueri]

HI EVERYBODY

i´m thinking about buying a timeshare, my idea is not to go there cause i want it to go different places.

My first idea was buying a marriot property with good trading value but i´ve started to read about rci points and looks interesting i paste here the add for ur advice ¿do u think is interesting? ¿the points are similar every year? ¿is easy to book in a hotel with these points? ¿ can i spend the points in 3 weeks if the value of the points allow it? ¿which price do u consider ok for it?


lots of questions sorry!

thanks a lot!!!

the add:

Vacation Village at Parkway, an RCI Gold Crown Resort, located in Kissimmee FL. This deeded ownership is for a Two Bedroom, Two Bathroom LOCKOFF unit (deeded as unit #9405, week 30) which has also been converted to 92,500 RCI Points annually, meaning you can use that week every year in a Two Bedroom, Two Bath unit at Vacation Village at Parkway; or use the 92,500 RCI points annually. Your usage is annual. Usage starts next year 2009 with all 92,500 points available to the new owner. Maintenance fees are paid every year in the amount of $696 (including taxes). Your points will be issued to you on the first day of your Effective Month of every year (The effective month is determined by the date the RCI Points account is transferred to you, usually 1 month after purchase). You can borrow points from the upcoming year. You can roll over your points for up to Two years.

 

[AwayWeGo]

Why Buy When You Can Lease ?

Or, in the alternative, you could lease a points timeshare -- RTU for 3 years, renewable. Works the same as an owned points timeshare.

That's what we'd have gone with instead of buying a points timeshare if we'd known about it at the time.

Live & learn, eh ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[maigueri]

Hi alan:

first of all thanks a lot for ur response, it´s first time i´ve listened about lease points, and it looks great for my way of travelling, but i need more help.

Can i use them without having any property?

83,000 Points - .0086/Point (Annual MF - $713.80 for 83,000 Points)
NEW POINTS MEMBERSHIPS AND Existing Weeks Members - $224.00
ONE TIME ADMINISTRATIVE AND CLOSING COSTS - $299.00
3 Year Lease Cost - $ 99.00???

so the total cost would be 1335$?

and 99$ each 3 years to renew it?

The property i´m looking has similar quotes bot does not expire, the point is that during the crisis i´m not sure if that´s a good point.

Thanks again for ur help, i´m only learning

Or, in the alternative, you could lease a points timeshare -- RTU for 3 years, renewable. Works the same as an owned points timeshare.

That's what we'd have gone with instead of buying a points timeshare if we'd known about it at the time.

Live & learn, eh ?

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[DeniseM]

Since your question is specific to RCI, I'm going to move it to the RCI Board where you will get expert help!

 

[AwayWeGo]

Lease Arrangement Works The Same As Straight Ownership.

first of all thanks a lot for ur response, it´s first time i´ve listened about lease points, and it looks great for my way of travelling, but i need more help.

Can i use them without having any property?

Just about all I know regarding the 3-year renewable RTU points-timeshare lease is what's in that linked description that you quoted.

Basically, you sign up & pay the lease fees & the maintenance fees & the 1-time administrative fee + the RCI Points join-up fee & you're good to go, same as a deeded points-timeshare.

Putting it another way, you do have the timeshare property -- but you have it on a lease basis rather than an owned basis.

The property i´m looking has similar quotes bot does not expire, the point is that during the crisis i´m not sure if that´s a good point.

Actually, the expiration feature after 3 years (or longer if you renew) is better than owning a points-timeshare. That is, when you're done with it you just let it expire & that's it, you're clear. By contrast, if you're the deeded owner of a points-timeshare, you remain on the hook when you're finished with it until you are able to sell it or give it away -- easier said then done.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[charford]

The Vacation Village at Parkway ad that you referenced is a good deal.

The costs for owning points and for leasing points would be:

One time: Purchase price + closing fees

Yearly: maintenance fees + RCI membership

Each trade: Exchange fee

Additional fees for lease: $99/ 3 years

I am not a fan of the leasing concept. You are dependent upon the person you lease from, not RCI, for your allotment of points each year. If the person or entity that you're leasing from doesn't pay their dues, you are out of luck. Additionally, if the person or entity decides they don't want to lease anymore, you are out of luck.


RCI points is a very different animal than Marriott timeshares. I would recommend reading about the different timeshares and looking over the ratings of the Marriotts vs other timeshares. Marriotts tend to be rated very highly. Most of the timeshares that you would be able to travel to with RCI points would not be as nice. Read, read, read!