Converting Parents Timeshare to Points - Should I do it?

[Mick3]

Hi all,

My parents own a traditional week at OLCC, and I went to the presentation to learn about the points system because my parents no longer use it and want to get rid of it. They told me that if I bought the lowest package of points (30,000 for $6,000) they would convert my parents to the point system as well (139,000 points). So I would technically be getting 169,000 points for $6,000. I know there are some cheaper options on the resale market, but I know this would get me some of the added benefits of the “Prime Platinum” membership benefits.

I am a little concerned if the points will actually transfer like they say, and does this seem like a comparable deal to what I would get resale?

Thank you!

 

[Bmatrose]

If you buy through them the points will transfer...It all depends on if the fixed week works for you. If it does their is no point to go to points. If you want more flexibility your getting a pretty good deal at only 6K

 

[tony_i]

Hi all,

My parents own a traditional week at OLCC, and I went to the presentation to learn about the points system because my parents no longer use it and want to get rid of it. They told me that if I bought the lowest package of points (30,000 for $6,000) they would convert my parents to the point system as well (139,000 points). So I would technically be getting 169,000 points for $6,000. I know there are some cheaper options on the resale market, but I know this would get me some of the added benefits of the “Prime Platinum” membership benefits.

I am a little concerned if the points will actually transfer like they say, and does this seem like a comparable deal to what I would get resale?

Thank you!

Sounds like a good deal.

South Beach 176k contract sells for $5-$7k on resale, and these transfer as points on resale. Maintenance fees are below $6 per 1k points, however these are rare and only show up 1-3 times for sale on eBay in a good year.

Check the maintenance fees for the 169k points. If below $6.5 per 1k, I would do it. Also consider your current fixed week. Do you enjoy it and plan on using it after converting? If so, then converting might not be the best option as you can trade your fix week on RCI and save the $136 club fee. Also, if you convert and want to sell in the future, you will not be able to get any of the $6k back as it reverts back to a fix week.

If you care little for the fix week, ask for them to take over it and convert all to trust points, you might recoup some of the paid conversation when you try to sale... However compare maintenance fees on both deals as the fix week may offer a better maintenance fee per 1k points.

The only way to get into the system via resale for less, it would be a small lake Geneva contract. Even 154k lake Geneva contracts sell around 3k, but they are not very common. I purchased a 76k contract for $800 this year. A friend of mine purchased South Beach 150k points for $2500.

HICV is a great club with lots of flexibility and it sounds like a good offer as you would also qualify for their tiered benefits.

Good luck!


Sent from my iPhone using Tapatalk