HGV Rescission letter/email combo

[MKS3945]

I recently signed a timeshare contract with HGV on 2/28. Having done little to no research before the fact, I had deep buyer's remorse. I'm so glad I found TUG and have already completed the rescission process, pending refund.

I drafted and posted the rescission letter whilst still on vacation in Orlando using certified mail with return receipt requested. The letter landed at their office today (took 2 days) and I promptly emailed their Client Relations Department to make sure that they received it. Within an hour I received a response confirming that they had received my letter and were sorry to see me leave. They advised that refunds are normally made within 20 days from receipt of the cancellation letter. Happy days!!!

For anyone worried about whether HGV have received your letter, I highly recommend an immediate follow up email to orlandocrm@hgvc.com. This is a group mailbox, manned by multiple people in HGV so a quick response is likely.

If anyone is interested, I was offered 3,500 pts every year for $19k (+ fees) and $1,270 annual maintenance. Thank you TUG contributors for the guidance in the rescission process. Now it's time to research rentals and resales.

 

[CPNY]

@Grammarhero mark it

 

[Fredflintstone]

I recently signed a timeshare contract with HGV on 2/28. Having done little to no research before the fact, I had deep buyer's remorse. I'm so glad I found TUG and have already completed the rescission process, pending refund.

I drafted and posted the rescission letter whilst still on vacation in Orlando using certified mail with return receipt requested. The letter landed at their office today (took 2 days) and I promptly emailed their Client Relations Department to make sure that they received it. Within an hour I received a response confirming that they had received my letter and were sorry to see me leave. They advised that refunds are normally made within 20 days from receipt of the cancellation letter. Happy days!!!

For anyone worried about whether HGV have received your letter, I highly recommend an immediate follow up email to orlandocrm@hgvc.com. This is a group mailbox, manned by multiple people in HGV so a quick response is likely.

If anyone is interested, I was offered 3,500 pts every year for $19k (+ fees) and $1,270 annual maintenance. Thank you TUG contributors for the guidance in the rescission process. Now it's time to research rentals and resales.

Congratulations and super decision! I would suggest renting. A timeshare, whether resale or retail, is a big commitment. In a sense, you sign a marriage between you and the resort. Your name is now debtor and theirs is creditor. MFs go up all the time and yes, they are the boss in your contract.

Instead of spending on a timeshare, buy 500 shares of a timeshare company like WYND. Take the dividends and use that to pay for your vacations. You keep your money and enjoy the wonderful timeshare business model where tons of folks make their MF, exchange, club, membership, special assessment payments while you get paid by the company through their profits.

A timeshare is hArd to unload BUT your WYND shares can be done in seconds.

Travel on.


Sent from my iPad using Tapatalk

 

[brp]

Certainly an interesting viewpoint @Fredflintstone , but we can do better with our purchase and MFs across HGVC and DVC than we can renting, so it doesn't work for us. Will surely be good advice for some, though.

Cheers.

 

[GT75]

Congratulations @MKS3945 and welcome to TUG.

 

[PigsDad]

Certainly an interesting viewpoint @Fredflintstone , but we can do better with our purchase and MFs across HGVC and DVC than we can renting, so it doesn't work for us. Will surely be good advice for some, though.

Yes, it absolutely depends on what you own, how much you paid for it, and how you use it. For example, we have a fixed Christmas week on Marco Island that we use every year. The MFs are ~$1,100 and we paid $8,500 for it (which is high for resale today, but being a fixed week it did cost more than most resales). To rent an equivalent 2BR ocean front condo that week on Marco Island, it would be a minimum $2,500. So each year we save at least $1,400, which makes the purchase price well worth it to us. Even on years that we may not be able to use the week, it will give us 7000 HGVC points and we can certainly get at least $1,100 value from those.

Now if we owned a Silver week and paid retail for it, then renting would beat that out all the time.

Kurt

 

[brp]

Now if we owned a Silver week and paid retail for it, then renting would beat that out all the time.

Kurt

Yup. Usage matters. For example, we have W. 57th. We pay maybe $300 a night for this and had a reasonably high buy-in (even for resale). And we could certainly get something for less in NYC. But not of the same quality.

Where we really do well is DVC where we get about a $350 room in a great location for maybe $114 equivalent.

Cheers.