• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $23,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $23 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

Help. Just bought HGV timeshare . Need advice

Joined
Sep 2, 2024
Messages
3
Reaction score
1
Resorts Owned
HGV
Help. Just bought HGV timeshare . Need advice. Purchased cash with no financing. maintenance fees annually of $1600/year.
With 30,000 club bonus points. Plus 15k HH point incentive.
Is this a decent deal? What should be do or should we rescind and purchase on the resale market? We know nothing about purchasing resale …
 
Joined
Sep 2, 2024
Messages
3
Reaction score
1
Resorts Owned
HGV
Help. Just bought HGV timeshare . Need advice. Purchased cash with no financing. maintenance fees annually of $1600/year.
With 30,000 club bonus points. Plus 15k HH point incentive.
Is this a decent deal? What should be do or should we rescind and purchase on the resale market? We know nothing about purchasing resale …
I should ask that the cash price was $24k
 

dioxide45

TUG Review Crew: Expert
TUG Lifetime Member
Joined
May 20, 2006
Messages
50,782
Reaction score
22,287
Location
NE Florida
Resorts Owned
Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
Cancel, rescind. That is the logical first step every time. You have forever to research and decide what to buy, once you cancel your purchase. You only have a limited number of days to cancel.

It sounds like you bought HVC, the old Diamond Resorts trust product. Cancel cancel cancel. Read your contract for details.
 

elaine

TUG Member
Joined
Jun 8, 2005
Messages
5,343
Reaction score
2,298
Location
DC
Resorts Owned
HGVC Eagles Nest, DVC-AKV, HHI
RESCIND now. Send a letter and get confirmation of mailing with return receipt to the address specified in your materials. Confirmation of sending the rescission letter is VERY important-it MUST be prior to the rescission period ending. Then, research for at least a few weeks and then decide what works for you. You only have limited time to rescind. Good luck!
 

Passepartout

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
29,046
Reaction score
18,174
Location
Twin Falls, Eye-Duh-Hoe
Help. Just bought HGV timeshare . Need advice. Purchased cash with no financing. maintenance fees annually of $1600/year.
With 30,000 club bonus points. Plus 15k HH point incentive.
Is this a decent deal? What should be do or should we rescind and purchase on the resale market? We know nothing about purchasing resale …
You should rescind, then stick around TUG. You will receive unbiased information. Well, maybe somewhat biased because most of us are pretty loyal to whatever system we own.

If you have the contract you signed, they are required to include information on exactly how to rescind. They just don't have to make it easy to find or clear.

Let us know how we can help.

Jim
 

WorldT

TUG Member
Joined
Oct 10, 2023
Messages
598
Reaction score
384
Help. Just bought HGV timeshare . Need advice. Purchased cash with no financing. maintenance fees annually of $1600/year.
With 30,000 club bonus points. Plus 15k HH point incentive.
Is this a decent deal? What should be do or should we rescind and purchase on the resale market? We know nothing about purchasing resale …
Did you want to hear another cancel/rescind? I will say it anyway. Cancel, cancel, and cancel! But do it right as others above have already mentioned.
 

CalGalTraveler

TUG Review Crew: Veteran
TUG Member
Joined
Dec 21, 2014
Messages
10,461
Reaction score
9,032
Location
California
Resorts Owned
HGVC, MVC Vistana
Rescind now because you will be stuck if you don't do this within a few days. Resale timeshares are a fraction of the cost. You need time to research and figure out the best for your situation. We can help.
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
23,421
Reaction score
9,288
Location
Florida
congrats on finding TUG in time to save $24,000 dollars!
 

HedonisticEpicurean

TUG Member
Joined
Aug 11, 2023
Messages
239
Reaction score
398
Resorts Owned
*Kings Land - 2 weeks
*Phoenician - 3 weeks
*Table Rock (RCI) - 2 w
*St. Regis NY - 4 w
*La Pacifica - 1 week
"An investment in knowledge pays the best interest." - Benjamin Franklin. I'm positive that Ben never was stonewalled blindly into wasting money at a timeshare presentation, but his advice is timely.

When you wake up the day after a painful uninformed timeshare buying binge do the following:
- Rescind immediately
- Research the options on TUG and online
- Reap great savings when you buy
 

LannyPC

TUG Member
Joined
Jul 5, 2010
Messages
5,181
Reaction score
3,139
Location
British Columbia
...should we rescind and purchase on the resale market? We know nothing about purchasing resale …
As others have emphasized, rescind! As for "[purchasing] on the resale market", the best advice is to do a lot of research before "[purchasing] on the resale market" or even acquiring one for free. There are many free ones for the taking out there. However, make sure you know what you're getting into before acquiring one. There are many TS owners out there who are envying you right now because you didn't have to go through the headaches and expenses of getting rid of an unwanted TS.

Check out this sticky:

https://tugbbs.com/forums/threads/what-to-buy-questions-for-new-timeshare-owners.208742/

where you can examine whether or not owning a TS is right for you.

There's also the option of renting from current owners. It has many advantages over owning. It allows you to try before you buy.
 

GT75

TUG Review Crew: Veteran
Moderator
Joined
May 30, 2016
Messages
5,053
Reaction score
3,460
Location
Gig City in Tennessee
Resorts Owned
Legacy HGVC
FAVC-Cabo
I agree with the previous posters is to rescind immediately first before you do anything else. After you have done that, you can take your time and research the resale TS market. We can certainly help you with that.

Secondly, you didn’t actually state clearly what you purchased retail (it actually doesn’t affect the advice being given). HGV TS salespeople make their sales presentation now so confusing. They probably told you that you were purchasing HGV Max but you are actually purchasing either HGVC (Hilton Grand Vacations Club) or HVC (Hilton Vacation Club). These are actually two different TS systems. I suspect that you were sold HVC which is a trust product (you don’t own a deed at a particular resort). This is the product that HGV is pushing. That product has NO value on the resale market. You also didn’t actually state how many annual points came with the purchase. This will determine which size room (studio, 1BR, 2BR) you would be able to reserve. Again, even after answering these question, our advice will still be the same which is to RESCIND while to can.
 
Top