HGVC - Trade In Value

[Terry D]

I have two scenarios that are hypothetical to try and understand if there is "trade in value" for a resale week
Scenario 1 - Trade in value of Developer Week - Devon (who did not discover TUG) bought a one bedroom timeshare week directly from the developer (HGVC) at Resort A for $40,000. 5 years later he wants to trade it in to upgrade to a two bedroom week at Resort B with a current price of $65,000. Will HGVC take the one bedroom week back as a trade in for the original purchase price of $40,000 so his net payment is $25,000 for the upgrade?
Scenario 2 - Trade in value of Resale Week - Sally (who found TUG) bought a one bedroom timeshare week resale at Resort A for $8,000 from the original owner who bought directly from HGVC for $40,000. 5 years later she wants to buy directly from HGVC (she likes having elite status) and upgrade to a two bedroom week at Resort B with a current cost of $65,000. Will HGVC take a resale week as a trade in and give Sally credit for $8,000, or $40,000, or a different amount?
For both scenarios, is there a certain amount of net payment you need for HGVC to take the trade in. For example the net payment needs to be $20,000 or higher?

 

[holdaer]

I was in a sales 'update' pre-covid and was thinking about upgrading. I have 1 developer purchased unit and 1 resale unit. In my situation, I was offered the full retail value of both units to upgrade. The problem is that for any upgrade, it seems HGVC needs at least $30K in new money. No matter what the 'trade-in value', it seems to work out that the net cost to upgrade is at least $30K. That's been my experience. Others may have a different experience.

 

[HuskerATL]

Trade in value is whatever the original price was, irrelevant whether you bought it retail or resale. For the upgrade price, it is all over the place. I have had upgrade offers that have ranged from $7k to $40k. The $25k or $30k new money is a myth that keeps getting repeated. I was just offered an upgrade in July for $7k and would have been in Max but turned it down.

 

[holdaer]

@HuskerATL,
My experience to upgrade that would cost me $30K is NOT a myth. You have a different experience.

In November, I'll be at La Pacifica. If I can trade-in my 2 units for 1 Studio Premier Plus (Platinum season) for $7K, I'll jump on it. Lowering my maintenance fee by $1K annually is worth it, for my situation.

Thank you for sharing your experience.

 

[HuskerATL]

@HuskerATL,
My experience to upgrade that would cost me $30K is NOT a myth. You have a different experience.

In November, I'll be at La Pacifica. If I can trade-in my 2 units for 1 Studio Premier Plus (Platinum season) for $7K, I'll jump on it. Lowering my maintenance fee by $1K annually is worth it, for my situation.

Thank you for sharing your experience.

I have been offered an upgrade for $30k before but folks keep saying that as a blanket statement as a minimum amount, which isn't true. It just depends on the resort, amount, annual/EOY, etc. Many folks talk about upgrade offers of less than that amount all the time.

 

[holdaer]

I have been offered an upgrade for $30k before but folks keep saying that as a blanket statement as a minimum amount, which isn't true. It just depends on the resort, amount, annual/EOY, etc. Many folks talk about upgrade offers of less than that amount all the time.

That's a fair statement. Sales have tried to get us to upgrade to Elite because that is the "desired" next step. As a result, it seems like it will cost me $30K. I see your point that someone could upgrade from EOY to a EY deed for a lesser amount.

 

[magmue]

folks keep saying that as a blanket statement as a minimum amount, which isn't true. It just depends on the resort, amount, annual/EOY, etc.

$30,000 minimum new money may not be true in all cases, but it has been the corporate line.

Our first HGVC purchase was resale Bay Club, two weeks per year. We were approached by HGVC's corporate resale department in Florida about a year later, who wanted to pitch an upgrade. I think we had a new and overeager sales guy - it took several phone meetings before his manager told him what we already knew - that Bay Club (an affiliate) was not eligible for the upgrade program.

But. Both the newbie and his supervisor spelled it out while pitching "upgrade" scenarios - we would need to put in at least $30,000 to reach a deal. I know sales weasels lie all the time, but given that this was coming from corporate headquarters, and not in a face-to-face improv, I was inclined to take it as accurate.

 

[HuskerATL]

That's a fair statement. Sales have tried to get us to upgrade to Elite because that is the "desired" next step. As a result, it seems like it will cost me $30K. I see your point that someone could upgrade from EOY to a EY deed for a lesser amount.

or vise versa....that was their pitch to us this summer. They pitched to change one of our annual resale to a EOY "retail" and get in Max for $7k. Also, they said that all of our resale would come into max so we would go from elite premier to Max Premier +. But, I don't think that they actually knew if all of our resale would come it....they just say things to make a sale and there is no repercussion if it is wrong.

 

[HuskerATL]

$30,000 minimum new money

I have heard the $25k new money need many times from folks but not heard $30k...either way, there are plenty of examples on FB of less amounts.

 

[SmithOp]

I've heard the net new money amount speil when dealing with corp direct sales, back then about 8 years ago it was $25k even with my trade in of a developer buy. They never could find me what I wanted, I eventually found a resale and saved $$$, more than I would have gained with elite status.

Sent from my Lenovo 10e using Tapatalk

 

[HuskerATL]

I've heard the net new money amount speil when dealing with corp direct sales, back then about 8 years ago it was $25k even with my trade in of a developer buy. They never could find me what I wanted, I eventually found a resale and saved $$$, more than I would have gained with elite status.

Sent from my Lenovo 10e using Tapatalk

You could have bought Scotland and got both...

 

[Emi]

Just attended 2 HGV presentations to join Max. We own both Hgv and Diamond, both resales and from developer. Offers are up to the salesman’s creativity. both will not recognize resale purchaes for points accumulation to achieve elite levels.
Hgv Presentation- new money $12000 to purchase an HGV unit.
Diamond Presentation - new money $11000 to purchase a minimum Hawaii collection points
Both threatened HGV will soon make it mandatory to spend $40000 to join MAX

 

[HuskerATL]

both will not recognize resale purchaes for points accumulation to achieve elite levels.

That is where the Scotland resales are nice, they count for elite

Both threatened HGV will soon make it mandatory to spend $40000 to join MAX

This funny because the $7k ala carte option hasn't even been offered yet but, I suspect, will once Max is live. Also, I suspect, the Opt-in emails will come out for the people who purchased between January 15th and April 4th.

BTW, just mention that Mark Wang, HGV CEO, sent out an email showing the $7k option and they will back track very quickly.

 

[vacationbear]

I was in a sales 'update' pre-covid and was thinking about upgrading. I have 1 developer purchased unit and 1 resale unit. In my situation, I was offered the full retail value of both units to upgrade. The problem is that for any upgrade, it seems HGVC needs at least $30K in new money. No matter what the 'trade-in value', it seems to work out that the net cost to upgrade is at least $30K. That's been my experience. Others may have a different experience.

That is EXACTLY what I also was told by a sales guy at Hilton Hawaiian Village, about four years ago.
He/ they wanted fresh/new/additional money on the table and it was either $25k or $30k. They offered full original purchase price for both of my resale units.
It got me thinking for a second, but I would have traded the Lagoon Tower and Kings Land weeks for one week at the Grand Islander.
Utter nonsense, even considering the higher points count and the "hey, you would get Elite tier status" argument.
Knowing TUG can safe so much money...