Help-New Purchase-Should I cancel/how?

[GullibleTSOwner]

Hi all

After 6.5 hours of pitch, Hilton team convinced me in to buying a $18000 timeshare at kings land Hawaii. I get 5440 points a year for a MF of about $1700 but I got 18k hgvc points for signing up and another 200k Hilton honors points for signing up and using an Amex card to pay

Is the deal worth it - should I cancel ? I am California resident but will be in Hawaii for the next month. I only have another 5 days to cancel. If you advice on cancelling, please recommend the steps that I should follow if I am not leaving Hawaii for another few days ( as in not going back to California )

Thanks in advance

 

[alwysonvac]

Hi all

After 6.5 hours of pitch, Hilton team convinced me in to buying a $18000 timeshare at kings land Hawaii. I get 5440 points a year for a MF of about $1700 but I got 18k hgvc points for signing up and another 200k Hilton honors points for signing up and using an Amex card to pay

Is the deal worth it - should I cancel ? I am California resident but will be in Hawaii for the next month. I only have another 5 days to cancel. If you advice on cancelling, please recommend the steps that I should follow if I am not leaving Hawaii for another few days ( as in not going back to California )

Thanks in advance

Hi and welcome to TUG

You should cancel. Look for the instructions in the documentation they gave you.
After you rescind, take some time to research without the time pressure from the sales team.

It sounds like you were sold a one bedroom during Gold Season.

HGVC and Kings Land are not bad but a one bedroom Gold Season week sells for less than $3,000 in the resale market. You can buy HGVC from various resale sources including brokers.

For example, here are some asking prices at https://sellingtimeshares.net/category/listings/hilton/

 

[HuskerATL]

If it were me, I would cancel and then do some research. You can always buy directly from them at a later date, if you decide that is what you want but I would also research resale. You can get a much better deed with more points for less money on the resale market but it would not put you in Max. If you want in Max and want a week at KL, you could stick with it but just know that is enough points for either a week at a studio either gold or platinum season or a 1 bedroom during gold season in various HGV resorts. For Kings Land, it is enough for a 1 bedroom gold season and that is it so you have very little flexibility. Now, you could stay less than a week and use a bigger unit or go during Platinum season but just understand what 5440 points will get you.

On this page, about half way down, is the HGVClub-Points and Open Season guide, https://tugbbs.com/forums/threads/2023-club-rules-and-fees.347868/ . Download it and look at what 5440 points will get you and when.

If you are not concerned about Max, which I personally am not, then cancel and you can buy a bigger point deed for a fraction of the cost which would give you much more flexibility. There are resale deeds on the resale FB page right now that have 11200 points for about $5k but at different locations and there is a Kings Land 13,440 point deed for sale on TUG right now for $5,500, https://tug2.com/timeshare-classifi...ngs Land Resort&ResortName=14788&ForSale=True . Do your research, look at purchase price and maintenance fees. The maintenance fees are what you would pay forever and some locations, like Vegas, have lower ones than Hawaii but some folks like owning in Hawaii since they use it often or a specific time where others buy one that is inexpensive with low MFs and use the points to stay in Hawaii. We are in the latter category.

If you decide to cancel, the instructions are in your contract. Look on the last page and follow the directions. Kings Land provides a few options to rescind via email, fax, and mail. When I rescinded there, I sent via mail and email and they responded pretty quickly to the email with an acknowledgement. HGV is good about accepting them, if you are in the window to rescind and you follow the directions on how to do it.

 

[GullibleTSOwner]

Thanks @alwysonvac and @HuskerATL really appreciate the prompt and detailed response

What are the advantages of being in max ? Also I don’t see any resale offer with the bonus points - am I missing out by leaving the 18k hgvc and 200k hhonors points ?

Finally a dumb question, does the property matter ? They tried to sell me on under construction property in Maui and made it sound like an impossible to get deal

They have provided an email address on the cancellation page but their instruction say to mail or facsimile will try both email and mail

 

[HuskerATL]

Max allows you to book in Hilton Vacation Club, which is Diamond resorts that Hilton Grand Vacations just acquired. They are lower level resorts than HGVC or Hilton Club but some people like them since they are in different locations. For us and we have owned since 2003, it isn't worth it. Between what you have in HGVC/HC plus access to RCI and the Hilton hotels, is fine. You can always rent a week from a different owner via Redweek or TUG, https://tug2.com/timesharemarketplace/rentals, if you want to go to a location without a HGVC. There are some benefits to Max such as no reservation fees but the club fees are $100 higher so you would need to make two reservation fees per year to offset the higher fee. Club reservation fees are $64.

The bonus points are nice but would be gone in a couple years and then you are stuck with the property that you bought and it may be hard to get rid of since it is low points in a location with higher maintenance fees. Most resale buyers would not be interested in buying it. The 200k HH points are nice but again, that is either a handful of nights in a lower Hilton or one night in a nice one. These are just side benefits. Focus on what you are stuck with forever.

 

[Bill4728]

"Finally a dumb question, does the property matter ?"

Which HGVC resort you own matters if you need to travel during super high demand times of the year. ( like school vacations) But if you don't care when you travel then No the property doesn't matter.

 

[HuskerATL]

Finally a dumb question, does the property matter ?

Just to add onto what Bill said, it can but, in my opinion, not for Kings Land unless you want a specific week. There are people who own a specific week, like Week 52, because they want to use a resort for that week every year or own a specific season, like summer in Hilton Head so they own a week in Platinum season at that resort. But, if you book early, for the most part, you can get weeks almost everywhere. Ocean Oak, which is in Hilton Head, is hard to book in the summer, especially a holiday like July 4th and we don't own there but just spent Christmas there and have four weeks reserved for this summer including the week of July 4th so, if you plan early, you can get weeks. If you wait to the last minute, it can be harder. If you plan on staying in various resorts and not a specific one, then it is better to get one with the lowest MFs. That is what you will pay every year.....forever.

 

[GT75]

I agree with the advice you have already been given. IMO, the week (gold season) at KL is a terrible purchase because of the following reasons:

• Not enough points
• It will be hard to give that deed away (I know that I wouldn’t take it for free)
• Yearly MFs are very high for the number of points which you get.
• You don’t need to own KL in order to book there (KL is easy to book during club season)

 

[letsgobobby]

Thanks @alwysonvac and @HuskerATL really appreciate the prompt and detailed response

What are the advantages of being in max ? Also I don’t see any resale offer with the bonus points - am I missing out by leaving the 18k hgvc and 200k hhonors points ?

You are missing out on something alright, about $15,000 you could have saved by buying resale.

 

[dayooper]

Thanks @alwysonvac and @HuskerATL really appreciate the prompt and detailed response

What are the advantages of being in max ? Also I don’t see any resale offer with the bonus points - am I missing out by leaving the 18k hgvc and 200k hhonors points ?

Finally a dumb question, does the property matter ? They tried to sell me on under construction property in Maui and made it sound like an impossible to get deal

They have provided an email address on the cancellation page but their instruction say to mail or facsimile will try both email and mail

Max’s “advantage” is you can book the rebranded DRI at 6 months. The issue is that the the DRI/HVC owners have at least a four month booking window to get the desirable weeks. In my opinion, it’s not worth the cost to have 6 month access to the DRI resorts.

As far as the Hilton Honors points, those have an estimated value of $0.006 (6/10 of a cent, value taken from Nerd Wallet) and that would put the 200,000 HHonors points at $1200. If we put the value of the bonus points as a decent MF ratio ($0.10 a point), those 18000 points are worth $1800. My 2 resale deeds (worth 11200 points each) were purchased for a total of $10,000. I paid, including my club dues, $2300 in maintenance fees this year.

 

[GT75]

As far as the Hilton Honors points, those have an estimated value of $0.006 (6/10 of a cent, value taken from Nerd Wallet) and that would put the 200,000 HHonors points at $1200.

I think the OP got the HH points are a result of credit card signup. So the OP will still have those points as long as meet conditions on the card (might need to spend $?K within ?/months).

 

[GullibleTSOwner]

Thank you all - this forum is awesome. It’s sad I didn’t find this forum before making the purchase - but hopefully I can get out of the contract

 

[HuskerATL]

Thank you all - this forum is awesome. It’s sad I didn’t find this forum before making the purchase - but hopefully I can get out of the contract

You found it while still in your window to rescind....that is the important part.

 

[amycurl]

The key is to rescind now, and then spend some time researching and reading here. Rescind via mail (get a receipt; it's all about when you mail it, not when they receive it,) and, if the instructions say you can email, do that, too. But get the letter in the mail TODAY. It just needs to say that you are rescinding your purchase of X contract for X amount of dollars, and any one that signed the contract also needs to sign the letter.

Then, put the down payment money you'll get back in an interest-earning account, so you'll have enough to cover a resale purchase when you are more prepared to take full advantage of it.

 

[Mongoose]

Suggest you cancel and do your research. I purchased 11,200 at Hilton for $1. You can always get that deal again if you really really want it.

 

[GullibleTSOwner]

Thank you all, my request to rescind was just accepted

Meanwhile I have been researching about resale purchase and i got replies from sellers that Hilton rofr won’t approve purchases at some price and no one sells at $1.

While on this thread and at many places else in this forum there is mention of $1 sales and even free. Does Hilton actually block resales ? What’s a good place to look for resale listings that are legit and ones where the seller won’t change terms when pinged ( I contacted a couple of sellers and they switched the terms and details from the listing )

 

[Mongoose]

Thank you all, my request to rescind was just accepted

Meanwhile I have been researching about resale purchase and i got replies from sellers that Hilton rofr won’t approve purchases at some price and no one sells at $1.

While on this thread and at many places else in this forum there is mention of $1 sales and even free. Does Hilton actually block resales ? What’s a good place to look for resale listings that are legit and ones where the seller won’t change terms when pinged ( I contacted a couple of sellers and they switched the terms and details from the listing )

If they are undesirable units (studio/off season) with low points they will let them go through. They'd rather have an owner pay the expensive (points per MF $) fees. Stay away from those. You are better off spending a little more and getting value. Be patient and you will find it. Look for a good Point/MF ratio. I pay $0.15 some people pay as low as $0.12 per point. Don't be afraid to make an offer. I offered $500 for a Hyatt that had a price of $4000 and the owner accepted. Some have been trying for years to sell and just want out.

 

[HuskerATL]

While on this thread and at many places else in this forum there is mention of $1 sales and even free. Does Hilton actually block resales

Many do not get blocked. Only a handful of resorts get taken by ROFR and mainly the ones in SC but it is the developer, Strand, not HGV. You can look here at ROFR.net to see what has passed or failed.

 

[letsgobobby]

If they are undesirable units (studio/off season) with low points they will let them go through. They'd rather have an owner pay the expensive (points per MF $) fees. Stay away from those. You are better off spending a little more and getting value. Be patient and you will find it. Look for a good Point/MF ratio. I pay $0.15 some people pay as low as $0.12 per point. Don't be afraid to make an offer. I offered $500 for a Hyatt that had a price of $4000 and the owner accepted. Some have been trying for years to sell and just want out.

another approach is to buy units with slightly higher MF but lower up front costs. For example I own a unit which I got basically for free ($1400 including closing costs) but the MF are about $500 higher than the cheaper deeds (like Las Vegas). But Vegas deeds typically cost around $6000 plus closing. So I saved at least $5000 on the deed, it will take ten years before I would have done better with a Vegas deed. That's a long time. I may not even own this ten years later.

This isn't to suggest I got some spectacular deal. just keep in mind there are a few different ways to approach this and in the end, all of these are 70-80-90-99% cheaper than buying retail.

 

[Mongoose]

another approach is to buy units with slightly higher MF but lower up front costs. For example I own a unit which I got basically for free ($1400 including closing costs) but the MF are about $500 higher than the cheaper deeds (like Las Vegas). But Vegas deeds typically cost around $6000 plus closing. So I saved at least $5000 on the deed, it will take ten years before I would have done better with a Vegas deed. That's a long time. I may not even own this ten years later.

This isn't to suggest I got some spectacular deal. just keep in mind there are a few different ways to approach this and in the end, all of these are 70-80-90-99% cheaper than buying retail.

You can almost always pick up a Bay Club for 11,200 (7,000) for $2000 or less. What's better is the fees are a lot less because its an affiliate.

 

[HuskerATL]

You can almost always pick up a Bay Club for 11,200 (7,000) for $2000 or less. What's better is the fees are a lot less because its an affiliate.

Unless they really want to own in Hawaii, I could not buy there. The MFs are higher plus the Hawaii tax. You can buy in Vegas and use all the Big Island HGVs very easy.

 

[dayooper]

Unless they really want to own in Hawaii, I could not buy there. The MFs are higher plus the Hawaii tax. You can buy in Vegas and use all the Big Island HGVs very easy.

That’s the point. I’ve seen Bay Club 2 bedroom platinum deeds go for under $2000, even free before closing and Hilton fees. Even if the MF’s were $600 more, you still have 10 years before you break even. It’s not my preferred route, but it is a way to play the game if need be.

 

[Mongoose]

Unless they really want to own in Hawaii, I could not buy there. The MFs are higher plus the Hawaii tax. You can buy in Vegas and use all the Big Island HGVs very easy.

I own there, and my maintenance fees with taxes are about $.15 per point. That's not the best, but its better than average. I only paid MFs and $445 for mine.

 

[TUGBrian]

grats on saving 18 grand, and likely winding up with a MUCH better purchase than you could have imagined for even less!

 

[HuskerATL]

I own there, and my maintenance fees with taxes are about $.15 per point. That's not the best, but its better than average. I only paid MFs and $445 for mine.

That isn't bad. Our Scotland are 0.09 and cost us about $2k each. Our Blvds are .12 and cost us $3k each so it would take a few years to cover the purchase price difference but then they would be cheaper in the long run. There are some in Hawaii that I think you need to own in to easily book and there are event weeks but other than that, they are pretty easy to use cheaper points at.