Deciding on HGVC contract

[carl2591]

hilton grand vacation club

A lot of well-meaning people are hurling advice at you like rescind, rescind, rescind. In short, only you and your family can decide if it is worth it. I have purchased HGVC points from the developer (will buy some resale in the future,) and am very happy with it. Hilton is a good organization. However, there is a learning curve to properly using the points. If money is an issue, you can also use bonus points to pay MF. You can do this over two years. Good luck!

I smell a shrill...

only one post and its for keeping the over priced contract...

lets guess who he/she works for.... me me me pick me...

ok my guess is HGVC... Yourrrrr right....

 

[jehb2]

A lot of well-meaning people are hurling advice at you like rescind, rescind, rescind. In short, only you and your family can decide if it is worth it. I have purchased HGVC points from the developer (will buy some resale in the future,) and am very happy with it. Hilton is a good organization. However, there is a learning curve to properly using the points. If money is an issue, you can also use bonus points to pay MF. You can do this over two years. Good luck!

The above post is bad on so many levels my head is spinning. I am glad you were able rescind.

One important thing as you begin your research for a resale. Your original purchase is 3,400 gold season points. Gold season is almost always during the school year so if your kids are in school this will not work for you. Consider at the minimum 4800 platinum points. That will get you into a 1 bdrm unit year round. On the upside you can find such a unit every year for a fraction of your original purchase.

 

[jehb2]

Hello!
4...it also mentions a "first year activation fee" listed on page 151 for $399.

5) They gave us 6800 bonus points and said they could be spread over the first five years making it feel like an "annual" plan. After reading the fine print, it seems the bonus points are only good for 2 years after being awarded.

6) As for occupancy restrictions, if we could only find a studio room available somewhere, would we be able to stay with our 2 children?

4. That's if you buy a Hilton affiliate property as opposed to a property originally built by Hilton.

5. Additionally, you have to wait 6 months into ownership before you can use the points so you really only have a 18 month window.

6. I wouldn't.

That said. I have been a Hilton owner for 12 years and I absolutely love it. We have had the most awesome vacations. Our kids are 4 & 6 and have been going to Hawaii every year since they were 6 months old. This summer we did a 5 week road trip with 2 weeks in NYC and a few days in Montreal and Niagara Falls. There is no way we could do this every year without timeshares. You and your family are going to have some great vacations.

 

[simba7]

Thanks for the info! Yes, they left me a message saying the rescission was accepted and my credit card was refunded so thankfully it all worked out! I have been reading over a lot of the info. posted in these forums and now I'm leaning towards a one bedroom platinum purchase (maybe even 2BR if we wait and save up a bit). Still debating the EOY since we usually only take one trip a year, and every other year my sister (who also has a timeshare) has the family get together with her. Just wondering if we bought an EOY and found that we wanted more time, is it possible to supplement with another EOY HGVC unit? Would we be able to utilize the points together if needed, or are the points treated completely separate? Thanks!

 

[linsj]

Just wondering if we bought an EOY and found that we wanted more time, is it possible to supplement with another EOY HGVC unit? Would we be able to utilize the points together if needed, or are the points treated completely separate? Thanks!

If you buy two wholly-owned HGVC units--as opposed to one being an affiliate--your points will be merged into one account.

 

[travelguy]

If you buy two wholly-owned HGVC units--as opposed to one being an affiliate--your points will be merged into one account.

My personal experience has been that HGVC combined all my HGVC properties into one account even though only one was a non-affiliate HGVC. I did jump through some hoops but it wasn't too bad as I recall.

 

[ns_guy]

Advice on different contract

Hello, looking for advice on my own contract - different from the original poster.

Attended a timeshare presentation today, provided a deposit on the following contract but am thinking of rescinding. Here is the contract:

Las Vegas Strip
5800-point 2BR Gold Season
Every-year contract
20,000 bonus points valid for two years
Maintenance fees $695.84

Cost $28,990.00

I figure it is costing around $1.50 per point.

Resale on a 5000 two-bedroom is going for around $6700-$7000 I see.

I'm wondering if the 20,000 bonus points make it worthwhile to purchase from HGVC directly versus buying resale for a fraction of the cost.

I signed the deposit offer as the bonus points "appear" to make it worthwhile to me, for this reason alone:

-Planning on taking a two week vacation to tropics (Bora Bora, Fiji, etc.) which have a room price of at least $800 per night.
-$800 x 13 nights = $10,400
-Using RCI search engine, sales rep showed us that one week costs 5400 points, so points are worth around $20,000
-If that is true, then I paid about $9000 for a 5800/year 2BR gold unit

So - should I rescind (by mailing via certified mail) or continue?

Thanks!

 

[siesta]

Hello, looking for advice on my own contract - different from the original poster.

Attended a timeshare presentation today, provided a deposit on the following contract but am thinking of rescinding. Here is the contract:

Las Vegas Strip
5800-point 2BR Gold Season
Every-year contract
20,000 bonus points valid for two years
Maintenance fees $695.84

Cost $28,990.00

I figure it is costing around $1.50 per point.

Resale on a 5000 two-bedroom is going for around $6700-$7000 I see.

I'm wondering if the 20,000 bonus points make it worthwhile to purchase from HGVC directly versus buying resale for a fraction of the cost.

I signed the deposit offer as the bonus points "appear" to make it worthwhile to me, for this reason alone:

-Planning on taking a two week vacation to tropics (Bora Bora, Fiji, etc.) which have a room price of at least $800 per night.
-$800 x 13 nights = $10,400
-Using RCI search engine, sales rep showed us that one week costs 5400 points, so points are worth around $20,000
-If that is true, then I paid about $9000 for a 5800/year 2BR gold unit

So - should I rescind (by mailing via certified mail) or continue?

Thanks!

the salesman has fogged up your math, you are off. Without getting into those specifics, are you sure they werent throwing in hhonors points? Not points for use within hgvc....

 

[Brkian]

Hello, looking for advice on my own contract - different from the original poster.

Attended a timeshare presentation today, provided a deposit on the following contract but am thinking of rescinding. Here is the contract:

Las Vegas Strip
5800-point 2BR Gold Season
Every-year contract
20,000 bonus points valid for two years
Maintenance fees $695.84

Cost $28,990.00

I figure it is costing around $1.50 per point.

Resale on a 5000 two-bedroom is going for around $6700-$7000 I see.

I'm wondering if the 20,000 bonus points make it worthwhile to purchase from HGVC directly versus buying resale for a fraction of the cost.

I signed the deposit offer as the bonus points "appear" to make it worthwhile to me, for this reason alone:

-Planning on taking a two week vacation to tropics (Bora Bora, Fiji, etc.) which have a room price of at least $800 per night.
-$800 x 13 nights = $10,400
-Using RCI search engine, sales rep showed us that one week costs 5400 points, so points are worth around $20,000
-If that is true, then I paid about $9000 for a 5800/year 2BR gold unit

So - should I rescind (by mailing via certified mail) or continue?

Thanks!

The fly in the ointment is that you almost certainly WON'T be able to find the $800/night resorts in the RCI system, and if you do, the demand would be off the charts and almost impossible for you to book the dates you want. I just did a quick check of RCI and found 1 available room in Fiji, and it was in an area that has nightly room rates of $80-130 per hotels.com. Now I'll admit that I don't know squat about the south pacific, but I think it is a pipe dream to successfully book the trip you have outlined.

The bottom line on points (bonus or clubpoints) is that they are worth roughly $1000 per 5000 points. So, you are getting $4k worth of points for $20k. Rescind, there is no math that makes your developers contract a viable deal unless you are hellbent on reaching elite status despite the costs involved in doing so. Let me make that simpler - Rescind. Do it today.

Just for reference, I bought a Las Vegas Strip 3br penthouse annual 9600 point unit, resale, within the past 12 months for under half of your price. Rescind.

 

[ns_guy]

the salesman has fogged up your math, you are off. Without getting into those specifics, are you sure they werent throwing in hhonors points? Not points for use within hgvc....

They are definitely HVGC points, with an expiry date of two years.

 

[ns_guy]

The fly in the ointment is that you almost certainly WON'T be able to find the $800/night resorts in the RCI system, and if you do, the demand would be off the charts and almost impossible for you to book the dates you want. I just did a quick check of RCI and found 1 available room in Fiji, and it was in an area that has nightly room rates of $80-130 per hotels.com. Now I'll admit that I don't know squat about the south pacific, but I think it is a pipe dream to successfully book the trip you have outlined.

The bottom line on points (bonus or clubpoints) is that they are worth roughly $1000 per 5000 points. So, you are getting $4k worth of points for $20k. Rescind, there is no math that makes your developers contract a viable deal unless you are hellbent on reaching elite status despite the costs involved in doing so. Let me make that simpler - Rescind. Do it today.

Just for reference, I bought a Las Vegas Strip 3br penthouse annual 9600 point unit, resale, within the past 12 months for under half of your price. Rescind.

Thanks for the reply so quickly. The valuation of the bonus points is what I was having difficulty figuring out. The lower valuation of the points definitely makes this deal not worthwhile, so I will rescind and considering looking for a resale unit with better value.

I'll rescind the offer tomorrow via registered mail.

Looking forward to following this forum. Cheers.

 

[totallybilal]

Just purchased a 5000 point EOY for HGVC International Drive literally yesterday Sept 4th at Parc Soleil Office for $15270. After finding TUGS, I will definitely rescind, the only thing I'm concerned about is, will I get my closing cost of $595 back. At the end of the day, I consider it the cost of learning but It would be nice to get that back.