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Help needed: rescind or not rescind developer deal

Moose3

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From what I'm reading rescind is the right answer, and that's where I'm heading. As I've just started research now I've got home time is real short though. I did not do any before hand as I did not thing the system/deal would be any good.

So I've gone into a 2 Br / Platinum / 9600 points EOY even deal at Waikoloa for ~$23K with 22K bonus points thrown in. I was lead to believe that these points were worth ~$22K so seemed a good deal. It looks like I will not use anywhere near this amount of bonus points in the allotted time (two years) so may well end up putting them into HH. From my calculations 22000*25 = 550000HH points. This as a VIP would get me 3x 6 nights at a cat6 hotel, which depending on the room would be $220-$350/night, so figuring on somewhere in the region of $5K. Not $22k! This puts me in the 19K range with VIP status (which is a about the only perk of buying direct?).

Any thoughts from folks here? rescind, research and look at resale the right move?

Thanks,
Chris.
 

AwayWeGo

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[triennial - points]
Rescinda-Sinda-Sinda.

Any thoughts from folks here?
Get out of it if you can.

Nothing any timeshare company sells at full freight is worth the money, bonus points or no bonus points mox nix. (I.e., you're paying too much for the timeshare and too much for the bonus points.)

Furthermore, there is no such thing as a new timeshare. By the time you show up & check in on vacation, other people will already have been staying in your unit, just like hotels & motels. All timeshares are used-used-used & it makes no sense to pay new prices for a product that is no such thing.

Buy timeshares resale. Save thousands of dollars on the same thing, or the equivalent, or something even better.

Also, welcome to TUG.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​
 

chriskre

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Enchanted Isle resort.

Moose3

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Folks, thanks for your prompt and useful reply's. I was already flipping to rescind, now its decided and done - fax sent tonight and I will follow up with a phone call in the morning to confirm.

I will be doing lots of research. The ad in the last post really brings it home! I had seen 14K for the same but 9.5K or better looks much better. There is so much to the program I might not even look into the same thing.

Thanks all :)

Chris.
 

Goofyhobbie

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Recission Was The Right Thing To Do

Chris,

Hopefully you will have returned to see this sooner rather than later.

You did good by sending a FAX; but what confirmation do you have?

Read your purchase papers carefully. DO EXACTLY WHAT THE CONTRACT SAYS REGARDING WHERE AND HOW THE RECISSION SHOULD BE SENT.

If mailing is the Developer's stated method of delivery consider sending it certified mail return receipt requested. YOU DEFINITELY WANT ACCEPTABLE PROOF THAT THE RECISSION WAS SENT AND RECEIVED!
 

Moose3

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Thanks, I had read this in another post also. Fax or mail was ok according to the rescind note.

I have a confirmation print from my fax machine but that just says a fax was sent to that number and when. Their machines should log it received to I guess but I will call in the morning and request a fax confirmation that our fax was received and was readable as a good measure I think.

Thanks,
Chris.
 

DEROS

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From what I'm reading rescind is the right answer, and that's where I'm heading. As I've just started research now I've got home time is real short though. I did not do any before hand as I did not thing the system/deal would be any good.

So I've gone into a 2 Br / Platinum / 9600 points EOY even deal at Waikoloa for ~$23K with 22K bonus points thrown in. I was lead to believe that these points were worth ~$22K so seemed a good deal. It looks like I will not use anywhere near this amount of bonus points in the allotted time (two years) so may well end up putting them into HH. From my calculations 22000*25 = 550000HH points. This as a VIP would get me 3x 6 nights at a cat6 hotel, which depending on the room would be $220-$350/night, so figuring on somewhere in the region of $5K. Not $22k! This puts me in the 19K range with VIP status (which is a about the only perk of buying direct?).

Any thoughts from folks here? rescind, research and look at resale the right move?

Thanks,
Chris.
Rescind. I also almost bought a 8400pt 2brm platinum at Waikoloa. I rescind, thanks to TUG, and bought a 9600pt 2brm platinum at Waikoloa for $25K. That is only $3K more than what you paid but mine is every year vs. EOY Even.

Deros
 

Moose3

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Thanks folks for your inputs. I got confirmation of rescind documentation received from HGVC and I'm out of the deal.

Chris.
 

ricoba

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Thanks folks for your inputs. I got confirmation of rescind documentation received from HGVC and I'm out of the deal.

Chris.
Thanks for the update, and congratulations on making a good decision.

HGVC is a great program. Just take your time and learn more about it here on TUG and buy resale....you will be happy! :)
 

Bill4728

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So I've gone into a 2 Br / Platinum / 9600 points EOY even deal at Waikoloa for ~$23K with 22K bonus points thrown in. I was lead to believe that these points were worth ~$22K so seemed a good deal. It looks like I will not use anywhere near this amount of bonus points in the allotted time (two years) so may well end up putting them into HH. From my calculations 22000*25 = 550000HH points. This as a VIP would get me 3x 6 nights at a cat6 hotel, which depending on the room would be $220-$350/night, so figuring on somewhere in the region of $5K. Not $22k! This puts me in the 19K range with VIP status (which is a about the only perk of buying direct?).
I'm not sure, but I do not believe that you can use "bonus pts" for conversion to HiltonHonors pts. Everything I've read about bonus pts is that they basically can be use for last minute travel only.



GANG:
What can bonus pts be used for and what is your idea of their value??


See the next post:
 
Last edited:

sml2181

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I'm not sure, but I do not believe that you can use "bonus pts" for conversion to HiltonHonors pts. Everything I've read about bonus pts is that they basically can be use for last minute travel only.



GANG:
What can bonus pts be used for and what is your idea of their value??
I only know that I have converted my bonus points to HH points...
 

Bill4728

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I'm not sure, but I do not believe that you can use "bonus pts" for conversion to HiltonHonors pts. Everything I've read about bonus pts is that they basically can be use for last minute travel only.

GANG:
What can bonus pts be used for and what is your idea of their value??
I should have tried to search first:
talent said:
You can use bonus points not only for open-season, but also other perks, RCI trades, Hilton hotel reservations, conversion to HHonors points and maintenance fees.
 

alwysonvac

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GANG:
What can bonus pts be used for and what is your idea of their value??
According to the latest Membership Guide, Bonus Points cannot be used to reserve accomodations during the Home Resort week or Club Reservation window. Bonus points cannot be transferred or assigned and cannot be borrowed or deposited into next year's account.
For more details see page 143 of the Membership Guide for the rules regarding Bonus points usage - http://www.hiltongrandvacations.com/mg/

This old 2008 post talks about a special bonus point brochure - http://www.tugbbs.com/forums/showpost.php?p=519384&postcount=5
 

JonathanIT

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I only know that I have converted my bonus points to HH points...
Me too. The great thing is that they can be converted at the 25:1 ratio for use instantly, and without any fees incurred. I converted all of my bonus points to HHonors. Since HHonors points don't expire I can be selective about when and where I use them, thereby getting the best value for them.
 
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