Great Deal or Not ????

[leeomo]

I am a still a Newbie to Timesharing. I came across an opportunity to purchase 85,000 RCI points allocated every three years. Seller paying upfront, maintenance fees due in 2017 with the next points allocation. My first M.F. Dues will be 2020. The home resort Is Coral Sands at Hilton Head, S.C. Seller is paying all closing cost and transfer fees. My upfront costs $20.00. My question to the seasoned and experienced Tuggers, is this a good deal ? Are there any additional questions I should ask ? Oh, I checked the company selling the Timeshare, they have a AAA+ rating with the BBB. I am second guessing my decision!!!

 

[Free2Roam]

I think Coral Sands is one of the Hilton Head properties with a huge transfer fee... so the deal may not look as good when it's time to sell. Even though the seller is paying the transfer fee, I'd want to know what I'll have to pay when it's time to unload... although it could change again by then.

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[tschwa2]

You are going to have to pay about $224 to set up an RCI points accounts for one year and then your RCI membership fee will be $124 per year or $229 if you pay for 2 years at a time.

You will also have trouble giving them away because the management company requires $1000 in prepaid MF's plus a $500 transfer fee. On top of that MF's are about $1000 for those 85,000 points which is on the high side especially when you add in the $500 in RCI fees for the first 3 years and then about $350 every 3 years after the initial 3 years.

 

[Passepartout]

You are going to have to pay about $224 to set up an RCI points accounts for one year and then your RCI membership fee will be $124 per year or $229 if you pay for 2 years at a time.

You will also have trouble giving them away because the management company requires $1000 in prepaid MF's plus a $500 transfer fee. On top of that MF's are about $1000 for those 85,000 points which is on the high side especially when you add in the $500 in RCI fees for the first 3 years and then about $350 every 3 years after the initial 3 years.

And I would also add $209 PER EXCHANGE to use those RCI Points. So annualizing the 'use cost' per year, you'd get roughly 28,000 points per year which will get you a middle-of-the-line 1 bedroom unit for $209+$124+$333MF. I think you can do better. To the original question: Not a Great Deal.

Jim