Did we just make a huge mistake?

[BigRedTruckFromAL]

My wife and I just got done sitting through a presentation in Chicago and we ended up purchasing a unit in the Elara in Las Vegas. I had gone into the presentation, thinking that I would never buy a timeshare. But the way they sold it as you could use the points anywhere, and even for cruises and properties outside of Hilton made it sound worth it. Now that I’m back at the hotel I am questioning our decisions. Especially after finding this forum.

We travel about 50-60nts per year on vacations around the world in hotels and on cruise ships. I travel another 150-200nts per year for work and earn a lot of HH points that way (I maintain HH Diamond, Marriot Plat, and IHG Gold on stays)

We purchased (2) units for a total of 27,200 points per year. We were also given 73,000 points that must be used in 2yr 9mo. MF + club dues is $2587/yr. Purchase price is $157,980 up front.

 

[dioxide45]

Did you make a mistake buying? Not really. Timeshare might work for you given your travel pattern.
Did you make a mistake buying direct from HGVC? I would say definitly yes! $150,000???!!!
Is it also possible that you bought HVC points? Maybe

Read your contract, learn about your rescission and take advantage of it. Do it now, time is limited.

What is the exact name of what you bought per your contract?

 

[Passepartout]

My wife and I just got done sitting through a presentation in Chicago and we ended up purchasing a unit in the Elara in Las Vegas. I had gone into the presentation, thinking that I would never buy a timeshare. But the way they sold it as you could use the points anywhere, and even for cruises and properties outside of Hilton made it sound worth it. Now that I’m back at the hotel I am questioning our decisions. Especially after finding this forum.

We travel about 50-60nts per year on vacations around the world in hotels and on cruise ships. I travel another 150-200nts per year for work and earn a lot of HH points that way (I maintain HH Diamond, Marriot Plat, and IHG Gold on stays)

We purchased (2) units for a total of 27,200 points per year. We were also given 73,000 points that must be used in 2yr 9mo. MF + club dues is $2587/yr. Purchase price is $157,980 up front.

It's your money to spend, but using timeshare points for cruises is a lousy use of the money. Cruise discounters are WAAAAY better. I think you should rescind and study the alternatives. At a minimum, buying resale would save you thou$and$.

Ji m

 

[HuskerATL]

Rescind now! We have over 100k points from resale and have only paid about $40k. Rescind and research. Those retail deals will always be there if you decide to do it later but resale is about 10% of the cost of retail.

If you rescind, follow the directions in the contract. If they don't provide a page to just sign and send in, then type out a brief paragraph with saying that you want to rescind and then include the name of the owners, contract number, property, date of contract, and all owners need to sign it. Send certified USPS by the deadline

 

[BigRedTruckFromAL]

Did you make a mistake buying? Not really. Timeshare might work for you given your travel pattern.
Did you make a mistake buying direct from HGVC? I would say definitly yes! $150,000???!!!
Is it also possible that you bought HVC points? Maybe

Read your contract, learn about your rescission and take advantage of it. Do it now, time is limited.

What is the exact name of what you bought per your contract?

The 73,000 points is a HGV bonus points purchase award. The contract says a 1 bed and a 2 bed room at Elara during Platinum season

 

[BigRedTruckFromAL]

Rescind now! We have over 100k points from resale and have only paid about $40k. Rescind and research. Those retail deals will always be there if you decide to do it later but resale is about 10% of the cost of retail.

If you rescind, follow the directions in the contract. If they don't provide a page to just sign and send in, then type out a brief paragraph with saying that you want to rescind and then include the name of the owners, contract number, property, date of contract, and all owners need to sign it. Send certified USPS by the deadline

Thank you!

 

[HuskerATL]

The 73,000 points is a HGV bonus points purchase award. The contract says a 1 bed and a 2 bed room at Elara during Platinum season

Those bonus points are nice but gone within 2 years. You can get so much more for less plus there are restrictions on Elara deeds so I would be less interested in a deed there. For Elara deeds, you can only upgrade the deed for another Elara deed compared to other properties where you can use that deed to upgrade into other properties.

 

[GT75]

I would agree with the others and suggest that you rescind. You can easily purchase on the resale market for less than $27K. HGVC is a good program even for resale owners.

 

[CalGalTraveler]

@BigRedTruckFromAL Welcome to TUG. Timesharing sounds like it would benefit your travels but you don't want to put 110% of your travel budget into it.

Since you have questions about what you are buying, rescind now since you only have approx. 5 days or you could be stuck with a less optimal portfolio and a $150k bill you may regret.

Contrary to what they would like you to believe: You can ALWAYS go back and get that deal if you research and decide that's best for you. HGVC developer deeds do not go on sale.

(TUG motto - the 4 Rs)
Rescind
Research (here on TUG and elsewhere)
Rent (if you are not sure what you like. Rent for a while from owners on Redweek or goKoala).
Resale (Buy - You may be able to buy Elara resale for as little as $20k for a 1 bdrm and 2 bdrm)

After you rescind (do not wait - do it now before the clock runs out!) Here are some questions to ask yourself:

Do you intend to use the Elara weeks to stay there? or plan to trade for other locations or convert to HHilton Honors?

If you intend to trade, then stick around TUG and we can help recommend an optimal portfolio.

A resale Elara portfolio of similar units will run you less than $25k. You can then pocket the other $125k into a 5% CD to earn $6250 cash to go on cruises or anywhere else in the world (or to pay your Maintenance fees which will run about $2500 per year for those units/points and use the rest as your travel budget.

Stick around and we can help you maximize your travel. HGVC is an awesome system, however you need to optimize to get the best value.

Good luck. Now go rescind and keep your cash!

 

[HuskerATL]

Here are a few Elara resales, just to give you an idea of what they cost on the resale market. BTW, Elara is easy to book so no need to own there. You really only need to own at a specific property that is hard to book or hard to book in the time you would use it, like ski properties. Otherwise, it is better to buy at a location with low maintenance fees and then use those points to stay at a place like Elara.

Hot Buys

www.timeshareprofessionals.com

Search Timeshares for Sale, Rent, or Exchange by Owner | Save Thousands on your next Family Vacation!TUG Timeshare Marketplace Search Results - Hilton Grand Vacations Club Elara For Sale

Search thousands of timeshares for sale, for rent, or exchange by owner. Save money dealing directly with the owners—no hidden fees, just great deals for your next vacation!TUG Timeshare Marketplace Search, Hilton Grand Vacations Club Elara, For Sale

www.tug2.com

 

[easyrider]

I agree with rescind now while you can.

Bill

 

[CalGalTraveler]

To add to @HuskerATL post. Here are some resale listings on Redweek. (when you are ready we can help you navigate these).

I suspect that you purchased Elara Hilton Club units at the top of the building. Those haven't come onto resale market yet but will in the next few years. There are other Hilton Club resale workarounds if you are seeking the 32:1 HHonors conversions.

 

[Maplel33s1e#]

Think twice before committing to the timeshare. Consider your existing loyalty statuses and the costs involved. Trust your instincts and make a decision that suits your travel style. Good luck!

 

[Talent312]

You was robbed. Direct (retail) prices are absurd.
HGVC treats resale buyers quite well... every perk, except Max & Elite status.*
-- which you don't need.
--------------------------
I'm reminded: You can become elite or Max thru resale in Scotland.

 

[HuskerATL]

You was robbed. Direct (retail) priced are absurd.
HGVC treats resale buyers well... almost every perk, except Max & Elite status.
-- which you don't need.

some are elite....

 

[stmartinfan]

You are lucky…you are asking the right questions while you still have time to rescind your purchase. Timeshare sales people are notorious for misleading and false sales pitches. Also, once you rescind, don't engage with the Hilton sales office anymore—they may try to convince you to change your mind.

 

[Nomad420]

My wife and I just got done sitting through a presentation in Chicago and we ended up purchasing a unit in the Elara in Las Vegas. I had gone into the presentation, thinking that I would never buy a timeshare. But the way they sold it as you could use the points anywhere, and even for cruises and properties outside of Hilton made it sound worth it. Now that I’m back at the hotel I am questioning our decisions. Especially after finding this forum.

We travel about 50-60nts per year on vacations around the world in hotels and on cruise ships. I travel another 150-200nts per year for work and earn a lot of HH points that way (I maintain HH Diamond, Marriot Plat, and IHG Gold on stays)

We purchased (2) units for a total of 27,200 points per year. We were also given 73,000 points that must be used in 2yr 9mo. MF + club dues is $2587/yr. Purchase price is $157,980 up front.

I bought retail and I can't say I would do it again. Plus points are nice but have restrictions (can't use them at your home property (Elara) for example). The purchase price is high (VERY) but I must admit the MF's seem low for the number of points 27.2K. I own in at HCNY and nearly pay that for a fraction of those points. Others here will tell you just buy resale cheap points but you also have to be careful with that. For example I can't own at Elara (which I like) and use those points at HCNY. Agree, resend and do more homework.

 

[HuskerATL]

I bought retail and I can't say I would do it again. Plus points are nice but have restrictions (can't use them at your home property (Elara) for example). The purchase price is high (VERY) but I must admit the MF's seem low for the number of points 27.2K. I own in at HCNY and nearly pay that for a fraction of those points. Others here will tell you just buy resale cheap points but you also have to be careful with that. For example I can't own at Elara (which I like) and use those points at HCNY. Agree, resend and do more homework.

You can use any points in HGVC at all HGVC and HC properties. HCNY is a special case though and not bookable by non- HCNY owners, however, you can book it via RCI though and use HGVC points.

You can use points at Elara if you own there or anywhere. It is the homeweek that, I think, you are referring to. There is homeweek booking, which books exactly what you own, and then there are club reservations that you can book anywhere in HGVC/HC but not necessarily your HW.

Here is an example of an available HCNY booking in RCI using HGVC points:

 

[Nomad420]

You can use any points in HGVC at all HGVC and HC properties. HCNY is a special case though and not bookable by non- HCNY owners, however, you can book it via RCI though and use HGVC points.

You can use points at Elara if you own there or anywhere. It is the homeweek that, I think, you are referring to. There is homeweek booking, which books exactly what you own, and then there are club reservations that you can book anywhere in HGVC/HC but not necessarily your HW.

Here is an example of an available HCNY booking in RCI using HGVC points:
View attachment 86822

I was aware of that and didn't want to get to deep in the weeds with the RCI work around. But yes you are correct you cannot directly book HCNY stays with HGVC points through HGVC/HCNY. Even as a HCNY owner I cannot book directly at HCNY using for example Elara points. I have personally been concerned about purchasing (after market of course) other properties (specifically Elara for example) with the fear that the RCI work around would get taken away. Call me paranoid and while unlikely, this I believe legally could happen. Regarding home weeks and not wanting to get into a lot of specific I don't have a "home week" for example at HCNY. I realize that is unique to at least HCNY (are there any others?).

 

[HuskerATL]

HCNY (are there any others?

As far as I know, HCNY is the only one like this. The rest can be booked via the system (online or a call to CS).

 

[TUGBrian]

goodness gracious, so very happy you found TUG in time to rescind that! you just dodged a $157,000 bullet!

rescind today, do not wait or ponder on it any longer. that is a staggering amount of money to throw away when you could have far more, for FAR less!

 

[Nomad420]

You can use any points in HGVC at all HGVC and HC properties. HCNY is a special case though and not bookable by non- HCNY owners, however, you can book it via RCI though and use HGVC points.

You can use points at Elara if you own there or anywhere. It is the homeweek that, I think, you are referring to. There is homeweek booking, which books exactly what you own, and then there are club reservations that you can book anywhere in HGVC/HC but not necessarily your HW.

Here is an example of an available HCNY booking in RCI using HGVC points:
View attachment 86822

Oh geezzz, I see my mistake and the confusion... I stated "Plus points" I meant Bonus Points. I was recently booking UA air travel and had a brain freeze, my apologizes. Correct me if I am wrong as I have not had BONUS POINTS in years, you cannot use them at your home resort.

 

[HuskerATL]

Oh geezzz, I see my mistake and the confusion... I stated "Plus points" I meant Bonus Points. I was recently booking UA air travel and had a brain freeze, my apologizes. Correct me if I am wrong as I have not had BONUS POINTS in years, you cannot use them at your home resort.

You can use them at your home resort or any resort but, as far as I know, you can't use them to book a homeweek.

 

[SmithOp]

Bonus points can only be used by calling in to the reservation desk, it's very limited inventory that Hilton owns.

You cannot book online yourself with those points.

 

[Nomad420]

You can use them at your home resort or any resort but, as far as I know, you can't use them to book a homeweek.

Well I guess another HCNY exception. I can tell you first hand I could NOT use them to book at HCNY. I could use them basically everywhere else. Perhaps because at HCNY you have no "home week". While this is a bit off topic but helpful and I still agree, rescind.....LOL