Buying Question? [RCI]

[Redlegsfan]

I am interested in getting into the RCI points program. My initial research tells me that for my circumstances the best way to do this is to purchase a TS secondhand (prob off of e-bay) that is in the points program. There are several with low maintenance fees (under $400) for a very low price. The downside is the resorts (term used very loosely) seem to be pretty run-down. I don't ever plan on using them (just the points) but, is there a chance these may be removed from the program or points fall to near zero?

I would appreciate any advice received.

I love this forum and have already learned so much from you!

 

[DeniseM]

I'm going to move your post to the Points Forum where you will get expert help!

 

[nightnurse613]

I don't know about EXPERT advice but, if you do a SEARCH by typing in Lease RCI Points you will find a very interesting discussion that could answer your questions. Good luck and thanks for joining!

 

[Redlegsfan]

Thanks!

Thanks Denise and Nightnurse ,

I will look into the lease option. Doesn't look like there is a lot of info there. If anyone has more information please let me know. The link that was posted about this wouldn't open for me.

If anyone has information on salesman in California doing this option let me know!

Also, I would appreciate any info on the downside to a TS with a points plan that has yearly maintenance fees of only $265. Am I missing something (other than the fact that you receive less points for this unit)?

 

[sfwilshire]

If the resorts are really run down, you risk a special assessment in the future. I'm always a bit nervous by very low maintenance fees for this reason.

Also, a poor resort may have a poor points value. Points values can also change over time if the resort goes down hill.

Sheila

 

[Redlegsfan]

Thanks Sheila!

Thanks Sheila, I didn't think about extra assessments. Would the TS management tell a prospective buyer about plans for renovation or assessments with a phone call?

 

[sfwilshire]

Thanks Sheila, I didn't think about extra assessments. Would the TS management tell a prospective buyer about plans for renovation or assessments with a phone call?

Maybe if it the assessment was already a done deal and announced to the owners. If not, almost certainly not.

Sheila

 

[Redlegsfan]

I did it!

I purchased my first timeshare!

As I posted before, I wanted to get into the RCI POINTS program. I was able to buy a 34,000 RCI POINTS timeshare for just $78 (on e-bay). I know 34,000 points won't get me much, but it gets me in.

I only had to pay $377 total out of pocket. ($224 RCI+$75 resort tansfer fee+$78 winning bid). I won't receive any points until 2010, but I will get my POINTS account at closing. I see people actually sell points they won't be able to use this year, so maybe I'll be able to try one of those 9,000 point weeks this summer.

The best part about this is I'm in the POINTS program for only $355 a year in maintenance fees. I'm psyched!

If all goes well with the closing, my next step may be to find a good deal on an RCI WEEK timeshare. I understand I can actually dump it into my POINTS account for Points, not just a WEEKS exchange.

What do you guys think?

Redlegsfan

 

[AwayWeGo]

Points For Deposit Is Not The Same Thing As A Points Timeshare.

I was able to buy a 34,000 points for deposit timeshare for just $78 (on e-bay).

Congratulations. Sounds like a bargain.

But hold on -- you may need to go out next & get a points timeshare now that you've aready got a weeks timeshare.

What do you guys think?

I think I'm not clear on exactly what you bought.

If the points involved are truly Points For Deposit, then I think you won't get any points for your new eBay timeshare till you (a) acquire a regular RCI Points timeshare & (b) join up with RCI Points & then (c) do Points For Deposit with your new eBay non-points (i.e., straight weeks) timeshare.

That is, by saying your new eBay purchase is a "34,000 points for deposit timeshare," you're saying it's a straight-weeks timeshare.

Points For Deposit is what RCI calls it when members of RCI Points deposit their straight timeshare weeks into RCI Points instead of banking them with RCI Weeks for conventional week-for-week exchanges.

Points For Deposit only works with non-points timeshare weeks at non-points timeshare resorts. A straight week (i.e., unconverted week) at a points timeshare is no good for Points For Deposit.

And even a straight week at a non-points resort can only be used for Points For Deposit when the owner is already a member of RCI Points -- i.e., owns (or leases) a points timeshare somewhere & has an RCI Points membership in addition to being a member of RCI Weeks.

I'm not trying to rain on your parade, just wondering whether what you bought actually will get you into points, or whether it's something you can use to get more points (via Points For Deposit) after you do get into points by buying or leasing an actual RCI Points timeshare.

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

 

[Redlegsfan]

Sorry for the confusion.

The timeshare has already been converted to points. I will receive the points every year automatically.

Now, I would like to find a week that I can deposit for points.

I'm hoping RCI will be able to tell me how many points it will be worth before the purchase. When I e-mailed them with questions about my timeshare, they were very helpful.


Redlegsfan

 

[gorevs9]

Sorry for the confusion.

The timeshare has already been converted to points. I will receive the points every year automatically.

Now, I would like to find a week that I can deposit for points.

I'm hoping RCI will be able to tell me how many points it will be worth before the purchase. When I e-mailed them with questions about my timeshare, they were very helpful.


Redlegsfan

Here's the latest link for the points lease.

And check out the 2008 RCI Points grid for estimates of Points for Deposit (PFD). This is used when reserving a weeks unit with Points and I think it's also used for RCI to allocated points when weeks are deposited.

Be careful when buying your weeks unit. If you ever decide to rid yourself of timeshares, you don't want to get stuck with a TS if you bought a cheap one just for deposits. Also if you buy one at a resort that decides to join the Points program, it will no longer be eligible for PFD.

 

[Redlegsfan]

Thank you!

Thanks for the point grid!

I am surpised by the little differentiation they use. All two-bedroom red week Florida timeshares that are Gold Crown are worth 57,000 points? Can't there be a big difference between one Gold Crown TS and another?

Isn't there a difference between a Disney Gold Crown TS, a Beach Gold Crown TS, and a Lakefront Gold Crown TS or Golf Course Gold Crown TS?

If this is true it makes it much easier to find a good deal. I will find a two bedroom Gold Crown RCI WEEKS TS with the least expensive maintenance fees available. (with some research on on that TS and it's possible maintenance issues)

Are there any other issues I should be concerned about?


Redlegsfan

 

[Sean Austin]

Gold Crown Differences

There can be a huge difference between Gold Crown resorts. You need to do your research before you exchange into one. I used to be a sales rep for existing owners and I have heard many stories about the catalog rating with RCI and what the owner actually exchanged into once they got there.