• 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 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th 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 $21,000,000 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 $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ 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 needed: rescind or not rescind developer deal

Moose3

newbie
Joined
Sep 14, 2009
Messages
4
Reaction score
0
Points
0
Location
California
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

TUG Review Crew: Expert
TUG Member
Joined
Jun 6, 2005
Messages
15,687
Reaction score
1,630
Points
699
Location
McLean (Fairfax County), Virginia, USA.
Resorts Owned
Grandview At Las Vegas

[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

TUG Member
Joined
Nov 14, 2006
Messages
4,608
Reaction score
259
Points
468
Location
South Florida
Resorts Owned
DVC- SSR, Poly,
Wyndham Las Cascadas
HGVC Tuscany Village
Bluegreen CMV UDI
RCI pts at VVParkway
Enchanted Isle resort.

Moose3

newbie
Joined
Sep 14, 2009
Messages
4
Reaction score
0
Points
0
Location
California
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

TUG Lifetime Member
Joined
Jan 9, 2009
Messages
1,206
Reaction score
24
Points
348
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

newbie
Joined
Sep 14, 2009
Messages
4
Reaction score
0
Points
0
Location
California
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

TUG Member
Joined
Jul 24, 2007
Messages
549
Reaction score
55
Points
388
Location
Ewa Beach HI
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

newbie
Joined
Sep 14, 2009
Messages
4
Reaction score
0
Points
0
Location
California
Thanks folks for your inputs. I got confirmation of rescind documentation received from HGVC and I'm out of the deal.

Chris.
 

ricoba

TUG Member
Joined
Jun 7, 2005
Messages
6,272
Reaction score
2
Points
323
Location
Metro Los Angeles
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

Moderator
Joined
Jun 6, 2005
Messages
11,038
Reaction score
598
Points
899
Location
Lake Tapps, WA
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

TUG Member
Joined
Mar 26, 2007
Messages
694
Reaction score
0
Points
16
Location
The Netherlands
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

Moderator
Joined
Jun 6, 2005
Messages
11,038
Reaction score
598
Points
899
Location
Lake Tapps, WA
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

TUG Lifetime Member
Joined
Sep 11, 2005
Messages
15,915
Reaction score
3,746
Points
848
Location
New Jersey
Resorts Owned
WORLDMARK, HGVC, VISTANA

SOLD (DVC, FSRC)
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

TUG Member
Joined
Aug 5, 2007
Messages
410
Reaction score
2
Points
16
Location
L.A.-But I'd rather be on Brokeback Mtn.
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.
 
Top