BUYERS REMORSE

[buyersremorse101]

I fell for it. There's nothing like buying an HGV timeshare BEFORE reading thousands of "run away!" "don't buy!" reviews on the internet. Worst of all, perhaps, I found out how stupid this was like two days after the rescind period ended. My membership hasn't even kicked in -- I haven't even paid for anything yet (I signed 17 days ago) and I'm already trying to figure out how to get out of it.

Anyway, I guess I'm just curious if there are any success stories here, anyone who actually feels like their HGV timeshare purchase has been valuable or if there is anyone who has a success story of getting out of their contract just out of the rescind window. Looking for advice!

Grateful in advance,
-Buyer's Remorse

 

[LannyPC]

You could try sending a rescission letter anyway. It wouldn't hurt to try.

I'm sure there are a number of happy HGVC owners out there. If you can't rescind, then learn how to use what you have.

If you haven't paid for anything yet, you can also try disputing the charge with your credit card company, although the CC company will probably side with the sales people saying that they did nothing wrong or fraudulent.

The big thing that most here on TUG would advise is to not go seeking the "help" of these companies, law firms, or charities that claim they can get you out of your purchase or contract. Those are usually scams.

 

[HuskerATL]

We have owned for almost 20 years and have had many great vacations from it. Actually on vacation now in Vegas. It sounds like you are stuck with it so best to figure out how best to use it. There are many great resources in this forum plus FB groups. Also, once you get your log in info, go through the tutorials and read the reference and points guides.

 

[Passepartout]

I fell for it. There's nothing like buying an HGV timeshare BEFORE reading thousands of "run away!" "don't buy!" reviews on the internet. Worst of all, perhaps, I found out how stupid this was like two days after the rescind period ended. My membership hasn't even kicked in -- I haven't even paid for anything yet (I signed 17 days ago) and I'm already trying to figure out how to get out of it.

At this stage, you should probably change your TUG username and learn to use what you bought. The simple truth is that once the rescission period has ended the wheels of HGVC have started transferring the deed into your name and it cannot be undone without serious financial and legal consequences.

Most of all, DO NOT sign up for ANY 'get you out of your timeshare' scams. That's what they ALL are, and even those with 'legal' or 'lawyer' in their name are just out for more of your money. NOBODY can make a legally crafted contract disappear. Yes, they will make you no longer an owner by instructing you to stop paying. Then in time, it will be foreclosed on and yes, you will be out of it, but will have a real estate foreclosure on your credit record for at least 10 years. They call this 'success'.

So, you've found TUG. A week or so too late, but that's water under the bridge. Start reading the 'stickies' at the top of the newbies forum, and the HGVC forum. There is a wealth of information there. HGVC is a great system with wonderful resorts. Learn how to maximize the value by using it more-not less. The value of timeshare is not financial, but in the memories you and your family build by using it.

Sure, you probably overpaid. So did at least half of TUGgers. But we get over it and move on with life. You saw value in the product when it was presented to you. Keep that memory alive. As soon as you get notice that your membership is active, get busy finding the next place you want to go. Book it, and start planning and looking forward to that next trip.

But really, if you keep the username you started here with, it'll just remind you of something unpleasant. Change it to something that ID's you a little better. The mods or admins can help with that.

Welcome to TUG!

Jim

 

[CalGalTraveler]

Welcome to TUG. We love our HGVC. The resorts are fantastic. Like you, we bought our first deed via the developer and overpaid. It still stings. But then we found TUG and learned how to maximize what we have. With TUG research we since bought several more resale for pennies on the dollar which reduced our average cost and saved thousands over hotels.

You bought this for a reason so let's understand if you can do something with it.

What did you buy? (resort, season, points)
Do you have a loan?
Can you afford to travel to this timeshare every year and pay annual maintenance fees?
What does your home week rent for. If you have a loan, can you rent out your home week for maintenance fees and loan payments until it is paid off?

As stated previously, you can try to send a letter of rescission. Do this now. If your timeshare is in certain states such as Florida, South Carolina or California, you can let it go into foreclosure, but you may get hassled by bill collectors and may get a ding on your credit record if you have a loan, but it will go away after a few years if HGVC won't work with you to rescind.

 

[REDDOG24]

I agree with LannyPC and HuskerATL...if you are past the rescission period and can't get your money back...best advice is to learn how to get the most value from what you have. I own retail/direct deeds and am very happy with the value I've gotten from each of them. I totally understand and agree that buying direct will cost more, as much as 4-5 times (or more ) than what I would have paid for a resale deed. And I likely will never be able to sell my deeds for what I originally paid. Live and learn. Whether resale or direct purchase you can get enormous value if you use your ownership and points correctly. In my case, on average I pay HOA fees/taxes of approximately 10 cents per point. I have been comparing what I actually pay versus the market rate I would have paid to developers/operators to stay in these properties. The "market price" for my actual stays ranged from 3-6 times my equivalent cost in HOA fees/taxes. Over the years I have recovered many times more than I paid for the original acquisition and HOA fees/taxes. And I've been able to stay in fantastic properties that I could not have afforded if I had to pay market. Have a look at the several Facebook forums for HGVC owners, they have some very pleased owners with plenty of ideas on how to get the most value from your purchase. Best wishes my friend.

 

[dayooper]

We love our HGVC membership. The properties are great and we have always had great service. Just avoid the sales team from now on and you will enjoy your membership.

 

[ausman]

If you have not paid anything as yet, personally I would continue to not pay, (some of the above advice would necessitate you paying when asked) and try to get the rescission accepted.

You can reassess at any point but I'd string it out as long as possible.

 

[kanerf]

I use my HGVC membership all the time. I usually stay at The District in Washington D.C., but I have stayed at many of their resorts and all of them are very nice.

 

[HuskerATL]

If you have not paid anything as yet, personally I would continue to not pay, (some of the above advice would necessitate you paying when asked) and try to get the rescission accepted.

You can reassess at any point but I'd string it out as long as possible.

The only bad part about this is that it could hit their credit and that has a snowball effect.

 

[NOLA47]

You can be assured that the HGVClub properties are all very nice. We purchased from the developer before learning about TUG. If I go to New York City twice a year (which I love doing), I can easily see that the cost of my stays exceeds my maintenance fees. Also our kids now travel with their families and we can make reservations for them to enjoy. The kids are the reason we purchased them anyway. My disappointment has been as Elite members it seems they make minor changes to lock you out of one Elite status likely to get you to move to the next level. HGVC used to manage a few properties that they did not own but stopped after we enjoyed going there. With the Diamond acquisition, I was hoping they would add them back to the HGVC lineup but of course they did not even though they have been renamed Hilton Grand Vacations Resorts. I also think you should familiarize yourself with their website and the resorts and make the best of your purchase. If both you and your spouse/partner/mate both enjoy traveling, I think you will really enjoy the properties. Continue to use the TUG platform as I've learned so much about the resorts from those who have traveled to them and are willing to share their experiences. This is such a great resource even for those who purchased from the developer. I'm not on social media but I understand HGVC has a facebook page exclusively for owners.

 

[buyersremorse101]

1. What did you buy? (resort, season, points)

I bought into HGV at 30k with 19000 points bonus to use within 2 years w/ about 8k points per year

1. Do you have a loan?

I haven't paid anything yet. My plan was to just pay it all off immediately to avoid the high interest rate.

1. Can you afford to travel to this timeshare every year and pay annual maintenance fees?

I can definitely afford to travel, I think i'm just overwhelmed by how clear of a scam this is after reading so much on this forum and others and wish i hadn't signed on that dotted line.

1. What does your home week rent for. If you have a loan, can you rent out your home week for maintenance fees and loan payments until it is paid off?

I'm not sure this is applicable.


As stated previously, you can try to send a letter of rescission. Do this now. If your timeshare is in certain states such as Florida, South Carolina or California, you can let it go into foreclosure, but you may get hassled by bill collectors and may get a ding on your credit record if you have a loan, but it will go away after a few years if HGVC won't work with you to rescind.

Yea i don't want the hit on my credit. It's almost 800 and i feel like the constant debt collectors calling would be too much anxiety (!)


I really appreciate all these replies. Making me feel better already!

 

[RX8]

I think i'm just overwhelmed by how clear of a scam this is after reading so much on this forum and others and wish i hadn't signed on that dotted line.

It isn’t necessarily a scam, it is just over priced. Many people here on TUG also purchased direct and over paid but, like you, found TUG and found out how to maximize what they own. If you decide down the road that you really like timesharing and want to expand your ownership you will then have the knowledge on how to do it cheaply via resale.

 

[Denise L]

We love our timeshares. We pretty much only stay in timeshares when we travel. Bought developer once, no regrets because we use it every year. And we just keep buying more resale to add to the fun. We own weeks with Westin (now owned by Marriott), Hyatt, Disney and HGVC. Once you figure out how to use yours, you will probably buy more via resale.

Definitely pay yours off as soon as you can to avoid the high interest rate.

 

[CalGalTraveler]

1. What did you buy? (resort, season, points)

I bought into HGV at 30k with 19000 points bonus to use within 2 years w/ about 8k points per year

1. Do you have a loan?

I haven't paid anything yet. My plan was to just pay it all off immediately to avoid the high interest rate.

1. Can you afford to travel to this timeshare every year and pay annual maintenance fees?

I can definitely afford to travel, I think i'm just overwhelmed by how clear of a scam this is after reading so much on this forum and others and wish i hadn't signed on that dotted line.

1. What does your home week rent for. If you have a loan, can you rent out your home week for maintenance fees and loan payments until it is paid off?

I'm not sure this is applicable.


As stated previously, you can try to send a letter of rescission. Do this now. If your timeshare is in certain states such as Florida, South Carolina or California, you can let it go into foreclosure, but you may get hassled by bill collectors and may get a ding on your credit record if you have a loan, but it will go away after a few years if HGVC won't work with you to rescind.

Yea i don't want the hit on my credit. It's almost 800 and i feel like the constant debt collectors calling would be too much anxiety (!)


I really appreciate all these replies. Making me feel better already!

What resort deed did you buy for 30k with 8k points per year?

Not a scam. The resorts and staff are nice. Think of it like a fancy RV or boat that drops in value once you take it off the lot. Resales a fraction of the cost just like a boat or RV.

 

[pedro47]

Welcome to the TUG WEBSITE.

 

[AnnaS]

Welcome to TUG!

 

[rickandcindy23]

As difficult as it is to bite the bullet and just pay for what you have, I recommend doing just that.

You are well beyond your rescission period, but as someone else suggested, you can try to write a letter. I would definitely do that. But they aren't obligated to let you out of it. The salesperson already received his commission.

If you love to travel, I have to assume you will eventually want more Hilton, and you can buy additional points resale and lessen the pain of the price you paid. Sometimes education is expensive. We should know! We did pay a lot for our first few timeshares, but that was a long time ago, and I got over the shame of paying that much. If you stop paying, the door to buy resale may be closed to you for defaulting.

We don't own Hilton, it's about the only system we have never even attended a timeshare presentation. We do stay at Hiltons through exchange, and they are pretty great.

The difference between what we bought 40 years ago, and what you bought is that our old legacy timeshare is a fixed deeded week and worthless to everyone but me. I use it for PIC in Wyndham, and it is great for that purpose.

 

[letsgobobby]

1. What did you buy? (resort, season, points)

I bought into HGV at 30k with 19000 points bonus to use within 2 years w/ about 8k points per year

1. Do you have a loan?

I haven't paid anything yet. My plan was to just pay it all off immediately to avoid the high interest rate.

1. Can you afford to travel to this timeshare every year and pay annual maintenance fees?

I can definitely afford to travel, I think i'm just overwhelmed by how clear of a scam this is after reading so much on this forum and others and wish i hadn't signed on that dotted line.

1. What does your home week rent for. If you have a loan, can you rent out your home week for maintenance fees and loan payments until it is paid off?

I'm not sure this is applicable.


As stated previously, you can try to send a letter of rescission. Do this now. If your timeshare is in certain states such as Florida, South Carolina or California, you can let it go into foreclosure, but you may get hassled by bill collectors and may get a ding on your credit record if you have a loan, but it will go away after a few years if HGVC won't work with you to rescind.

Yea i don't want the hit on my credit. It's almost 800 and i feel like the constant debt collectors calling would be too much anxiety (!)


I really appreciate all these replies. Making me feel better already!

welcome to hgvc and tug. most people got their first ts direct from developer/retail and overpaid. still you own in a high quality system and you should be able to take a nice vacation every year. learn the system so you can make the most of your ownership. we have no complaints and take 1-3 great vacations per year in our hgvc ts.

 

[SteelerGal]

Welcome to HGVC. Although we purchased resale, we love our HGVC resorts. We visit MarBrisa in Carlsbad at least 4x/yr since we are local. It does require planning but we have been able to travel comfortably for a family of 7. Take advantage and learn more about the System.

 

[Bill4728]

I'm unsure if you do not own HGVC You may have have bought points in Diamond Resorts DRI which was bought by HGVC and renamed Hilton Vacation Club or HVC.

HGVC is related but a different TS company. People who own HGVC own weeks at a single HGVC resort that can generate HGVC points. Those points can be used to reserve at other HGVC resorts.

At this time, no one knows how the two companies are going to blend together

 

[Tropicgirl13]

We love our timeshares. We pretty much only stay in timeshares when we travel. Bought developer once, no regrets because we use it every year. And we just keep buying more resale to add to the fun. We own weeks with Westin (now owned by Marriott), Hyatt, Disney and HGVC. Once you figure out how to use yours, you will probably buy more via resale.

Definitely pay yours off as soon as you can to avoid the high interest rate.

Goals!!!

 

[Nowaker]

It isn’t necessarily a scam, it is just over priced.

It is a scam when a salesman promises much more than what people receive. The reality is very few people would actually buy into the system knowing what they are really getting. So I'd say that first-time retail HGVC is a scam. Resale HGVC, or retail trade-in HGVC isn't a scam.

 

[timsi]

What resort deed did you buy for 30k with 8k points per year?

Not a scam. The resorts and staff are nice. Think of it like a fancy RV or boat that drops in value once you take it off the lot. Resales a fraction of the cost just like a boat or RV.

IMO the quality of the resorts is not relevant in a discussion about sales. We pay high fees to maintain the resorts and HGVC has a licensing agreement with Hilton so they have to maintain a certain standard.
Maybe not a scam but anything that costs tens of thousands of dollars, that is generally poorly understood at the time when it is purchased and loses 90%-100% of value overnight isn't that far.
At the minimum, the cooling off period should be 2-3 weeks after they return home, not 5 days when people are still on vacation.
@buyersremorse101 I encourage you to write to your member of congress to ask for better consumer protections. This will not resolve your problem but hopefully one day, if enough people do the same, there will be better protection.

 

[CalGalTraveler]

Let's not forget that resale wouldn't exist if someone didn't buy a developer VOI first. Some people like to pay extra for a new BMW or Mercedes when a used Chevy would do. Can you justify the cost from a pure $ standpoint? Not really. But intangibles knowing that you have "new" or brand prestige, or comfort that the car will work vs. a used car can be factors beyond pure economics. Calling it a scam is over the top. Some people are busy executives and don't have time to research the overly-complicated timeshare market and scour EBay for a resale deal or don't want the risk of getting scammed by resale.

They just want to vacation and move on. For some people, $50k - $100k is not a big deal or big risk compared to the cost and maintenance of a second home. I have a well-to-do friend who blew $50k on designer clothes, wines and champagnes that he brought home on a trip to Europe. Was he scammed because he could buy the same thing at the local outlet mall for a fraction of the price? or was there something to the experience of shopping on the Champs-Elysee at Chanel? or at a winery in France? BTW this guy made his money as a very shrewd investor in startups. He is not stupid.