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Advice w Buyer’s remorse - paid 9,900 for HGV 5,500 pts. 672 (1/2 yr MF) — 5 days to rescind

C

calvin440

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After sales pitch and three hours of supposedly no negotiations ended up with this deal (and I naively thought we could take the offer home and think about it) It expires in 10 years - presented as a way to try and buy. Tonight, I am finding out with resources like TUG maybe paid to much? other info. closing costs 346.50 Hilton threw in 5,500 bonus points and $200.00 voucher for Hilton hotel stay. Any advice, please - i have 5 days from 7/25 to rescind the contract. Thanks.

Also, my understanding with HGV and their point system is that the actual location is not important but now I’m worried i will not be able to actually get a week at the popular resorts but we are just entering retirement and fairly flexible.
 
re: buyer’s remorse …did not remember to state the 5,500 points are biennial, every odd year
 
If you didn't go in knowing what you wanted and what the right price is, it probably isn't a good deal.
You have the opportunity to cancel now, do a load of research and then decide what, if any timeshare you want.
That choice won't be available soon, so cancel while you can.
Any deal they offered you will be available another time.
 
the fact you still have questions is reason enough to cancel and do research.
 
calvin440 said:
After sales pitch and three hours of supposedly no negotiations ended up with this deal (and I naively thought we could take the offer home and think about it) It expires in 10 years - presented as a way to try and buy. Tonight, I am finding out with resources like TUG maybe paid to much? other info. closing costs 346.50 Hilton threw in 5,500 bonus points and $200.00 voucher for Hilton hotel stay. Any advice, please - i have 5 days from 7/25 to rescind the contract. Thanks.

Also, my understanding with HGV and their point system is that the actual location is not important but now I’m worried i will not be able to actually get a week at the popular resorts but we are just entering retirement and fairly flexible.
Click to expand...
Rescind immediately, you won’t regret it. If, for some reason, after researching the resale market and other ways to buy for cheaper, you still want to buy from the developer, I promise you this opportunity will still be there. (Spoiler Alert: You won’t).
 
RESCIND IMMEDIATELY. Don't think twice about rescinding.

Any buyer who signed the purchase documents will need to sign the rescission letter. Send it via USPS CERTIFIED MAIL (retain a copy for your records and be sure to retain a copy of the Postal Receipt).

Smart move to rescind and allow time to do your homework. Think resale and save your hard earned money!








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calvin440 said:
After sales pitch and three hours of supposedly no negotiations ended up with this deal (and I naively thought we could take the offer home and think about it) It expires in 10 years - presented as a way to try and buy. Tonight, I am finding out with resources like TUG maybe paid to much? other info. closing costs 346.50 Hilton threw in 5,500 bonus points and $200.00 voucher for Hilton hotel stay. Any advice, please - i have 5 days from 7/25 to rescind the contract. Thanks.

Also, my understanding with HGV and their point system is that the actual location is not important but now I’m worried i will not be able to actually get a week at the popular resorts but we are just entering retirement and fairly flexible.
Click to expand...

Rescind immediately and then make your way over to the Free Forum. This exact point allotment is currently available for free there (and I think with a lower MF). As for your last comment about HGV, ~5,500 points was unfortunately never really enough points for popular resorts unless it's offseason. You were likely misled a bit there during the sales presentation.
 
Rescind and study TUG to learn about resale.

Location does matter in HGVC, it can affect your annual point fees. Las Vegas tends to have lowest, most stable fees. Florida can be affected by hurricanes and insurance costs.

Study the pink sticky threads up top in the HGVC forum.
 
calvin440 said:
It expires in 10 years - presented as a way to try and buy.
Click to expand...
What expires in ten years?

I will echo what everyone else said. Rescind! Follow the rescission instructions to the letter including which method to send (likely certified mail) and the proper address.

BTW, where did you attend this presentation? Which resort?
 
Deeds don't expire, perhaps it's HVC trust points.
 
calvin440 said:
5,500 points are biennial, every odd year
Click to expand...
There may be unique circumstances that over-rule what I am about to say, but here it is: if this is HGVC, a 5500 pts EOY deed (5,440 I think it the #) is almost certainly a bad deal, unless you get it free and and are already paying member fees and can bundle the pts with other pts you have. Otherwise, fuggetaboutit, and that incl resale. Even if you get it free, the member fees etc eat the benefits of what you can do with it. If it is the lowest MFs around, then maybe it works.
now, if it is HVC, I assume this is still true, but idk. maybe there is a wrinkle
Does anyone know if, when existing owner buys a resale 5440 pt deed, does the owner pay the $695 (I think is the #) activation fee? This is the other issue. That fee is not peanuts and it is a hurdle to even giving the thing away sometime in the future.

I give 5440 pt EOY deeds a big Toxic Detritus rating, unless as I wrote above. Free. Already a member. No activation fee.
This is one of the problems with the "Buy Resale" mantra. There are bad deeds that you shouldn't buy at any price.
There are also many good deeds where the seller is just asking too much.
 
Welcome to TUG. You did not get a good deal but hit the Jackpot finding TUG. Rescind, join TUG and learn before you buy.
 
I would do the math.

$/point all in and the calcualte how many points for how much $$$.

Compare to resale and rescind.

I think you will find that the stays cost you 2-3x more with this deal than resale.
 
Last edited:
Rescind. Retail deals are rip offs.
 
Rescind immediately because I don’t even think that you properly know what you purchased. I think that you purchased HVC trust points. This is the former DRI (Diamond) resorts. HVC is a very poor purchase and certainly wouldn’t recommend to anyone either retail or resale. Even if your were sold HGVC side, I would recommend rescinding immediately because you overpaid and certainly don’t have enough points to do anything in the system.
 
calvin440 said:
Also, my understanding with HGV and their point system is that the actual location is not important but now I’m worried i will not be able to actually get a week at the popular resorts but we are just entering retirement and fairly flexible.
Click to expand...
We can show you much better deals for way less money on the resale market. So rescind first and allow yourself the time to research. HGVC has a very good resale product and they treat their resale customers very well. HVC trust points problem, I would never recommend purchasing either resale or retail.
 
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