Hilton Elara - Bad price

[islandbanker]

Did I make a mistake? In contract to buy 15360 points @ Elara/ 2 br plus platinum annual for 10k. It felt right since I didn't give in during the HGVC presentation. I just wonder if it makes economic sense. I plan to vacation 2x a year. Any suggestions are greatly appreciated.

 

[TolmiePeak]

Who did you buy it from?

 

[islandbanker]

Who did you buy it

Who did you buy it from?

A reseller. I still wonder if the price is reasonable?

 

[ocdb8r]

Here's what I would say.

The good:

• You picked a resort with a good annual Maintenance Fee ratio (currently - MF are variable so this could change, but Vegas in general has been good and Elara has had very reasonable increases the past few years);
• You purchased enough points to give you quite a few options within the HGVC system - you should be able to get a 2 bedroom at any of the older core resorts; new resorts that have come online in the last 5-10 years have done so at higher point values...but I think most would say you picked a great number of points to start with;
• You are saving a TON over buying direct.

I think you paid probably an "average" resale price for this contract. Not bad but not a steal either. Compared to other options, you probably paid a bit more per point that other similar sized contracts at other resorts BUT Elara commands a bit of a premium because of it's good Maintenance Fee ratio (and as such, you're going to pay a bit higher up front cost to benefit from the longer term savings of a lower MF/point ratio).

Bottom line, I wouldn't lose sleep over it. You've done better than many on this board and we'll all tell you your focus now should be making the most of the money you've spent. Would I rescind if I were still in a cooling off period....I'm not sure. Others can likely point you to slightly better deals, but again, I think this is a pretty solid place for you to start at a decent resale price.

 

[Fido Chuckwagon]

Did I make a mistake? In contract to buy 15360 points @ Elara/ 2 br plus platinum annual for 10k. It felt right since I didn't give in during the HGVC presentation. I just wonder if it makes economic sense. I plan to vacation 2x a year. Any suggestions are greatly appreciated.

This smaller 13,440 platinum 2 bedroom just sold on eBay for around $5,700 with closing costs:

HILTON GRAND VACATION ELARA 13,440 ANNUAL PLATINUM TIMESHARE FOR SALE! | eBay

HILTON GRAND VACATION CLUB. The two most common forms of usage are Annual (every year) and Biennial (every other year). HILTON HAS THE RIGHT OF FIRST REFUSAL. PLATINUM POINTS. Season: Platinum. 13,440 ANNUAL.

www.ebay.com

I can’t find any recent platinum plus sales to compare it to though, at least on eBay, so it’s tough to say. The platinum plus is worth more than $5,700 based on that eBay sale in my opinion, but how much more is hard to say. At the end of the day though, you bought resale after doing your research and not purchasing direct. Good job, that is the most important thing you can do when purchasing a timeshare. Is it possible you could get it for a few thousand dollars cheaper? Maybe? Will that really matter over the life of the contract if you’re going to keep this thing for a while? Probably not. Value is in whether or not you’re going to get utility from it, and only you can answer that.

The fact that I don’t see any more of these posted for sale, at least on eBay, leads me to believe that you also could be waiting a while stalking for a better deal. How much is it worth to you to have it now?

 

[vacationtime1]

Is the $10K purchase price inclusive of closing costs -- which can be high for HGVC?

 

[Fido Chuckwagon]

Is the $10K purchase price inclusive of closing costs -- which can be high for HGVC?

Ooh, yeah, that’s an important question.

 

[islandbanker]

Is the $10K purchase price inclusive of closing costs -- which can be high for HGVC?

No, closing costs are in addition.

 

[islandbanker]

This smaller 13,440 platinum 2 bedroom just sold on eBay for around $5,700 with closing costs:

HILTON GRAND VACATION ELARA 13,440 ANNUAL PLATINUM TIMESHARE FOR SALE! | eBay

HILTON GRAND VACATION CLUB. The two most common forms of usage are Annual (every year) and Biennial (every other year). HILTON HAS THE RIGHT OF FIRST REFUSAL. PLATINUM POINTS. Season: Platinum. 13,440 ANNUAL.

www.ebay.com

I can’t find any recent platinum plus sales to compare it to though, at least on eBay, so it’s tough to say. The platinum plus is worth more than $5,700 based on that eBay sale in my opinion, but how much more is hard to say. At the end of the day though, you bought resale after doing your research and not purchasing direct. Good job, that is the most important thing you can do when purchasing a timeshare. Is it possible you could get it for a few thousand dollars cheaper? Maybe? Will that really matter over the life of the contract if you’re going to keep this thing for a while? Probably not. Value is in whether or not you’re going to get utility from it, and only you can answer that.

The fact that I don’t see any more of these posted for sale, at least on eBay, leads me to believe that you also could be waiting a while stalking for a better deal. How much is it worth to you to have it now?

 

[islandbanker]

This was very helpful. My bigger question now is about which is cost effective. To have a HGVC membership with the fees and being locked into a property or not.

 

[GT75]

Your 2025 MFs/pts ratio will be 0.0991. This is a good deed in HGVC to purchase. As @ocdb8r stated, it was an "average" resale price with very good MFs. The important things (IMO) are resale, good MF/pt ratio, and platinum season. If you plan to keep this deed for a long time, the buy-in price isn't as important as MF/pt ratio.

 

[GT75]

btw, @islandbanker, welcome to TUG. There is a specific forum for HGVC questions. I would suggest that you ask specific HGVC questions there. We have some great knowledgeable members who love to help.

 

[GT75]

@islandbanker, it looks like some other moderator moved your thread to the HGVC forum.

 

[islandbanker]

btw, @islandbanker, welcome to TUG. There is a specific forum for HGVC questions. I would suggest that you ask specific HGVC questions there. We have some great knowledgeable members who love to help.

Thank you. I made a newbie mistake.

 

[brp]

Thank you. I made a newbie mistake.

No worries. We've all done it. Now you can join as a Member and help guide others going forward.

Cheers.

 

[Mr.G]

this is one of the best deed in the system, I won’t count is as overpaying

 

[ocdb8r]

This was very helpful. My bigger question now is about which is cost effective. To have a HGVC membership with the fees and being locked into a property or not.

You'll have to clarify what you're asking here. I think you're asking whether or not you should join the "club" and pay the additional dues for the benefit of being able to use the points at other HGVC resorts, or if you should just stick with just being able to use this week at Elara. I think you need to give us a bit more background on your intended usage pattern.

Most of my comments assumed you wanted to take advantage of the club. If not, the cost calculus and how good a "deal" this is might be slightly different as you might be able to get a 2-bedroom in Vegas (or at Elara) without quite as many points for a lower price...all that said, this week will hold it's value well even if you only intend to use it in Vegas or the occasional trade in II or RCI.

Generally, I think most on this HGVC forum participate in the club and enjoy using their points at a variety of resorts. Yes, there will be some additional "activation/registration" fee and an annual fee, but with the amount of points your week is worth you can get good value out of that (assuming you have interest in the other HGVC resorts).

 

[GT75]

I will point out that you need to be careful when buying Elara. (Elara is a mixed property of HGVC and Westgate deeds) You need to be sure that you are purchasing an HGVC deed and not a Westgate one. Since you stated 15340 pts, that should be an HGVC deed because Westgate Elara deeds don't come with points. This will be clear on the estoppel (there are examples of both estoppel types, if you search the forum).

 

[islandbanker]

You'll have to clarify what you're asking here. I think you're asking whether or not you should join the "club" and pay the additional dues for the benefit of being able to use the points at other HGVC resorts, or if you should just stick with just being able to use this week at Elara. I think you need to give us a bit more background on your intended usage pattern.

Most of my comments assumed you wanted to take advantage of the club. If not, the cost calculus and how good a "deal" this is might be slightly different as you might be able to get a 2-bedroom in Vegas (or at Elara) without quite as many points for a lower price...all that said, this week will hold it's value well even if you only intend to use it in Vegas or the occasional trade in II or RCI.

Generally, I think most on this HGVC forum participate in the club and enjoy using their points at a variety of resorts. Yes, there will be some additional "activation/registration" fee and an annual fee, but with the amount of points your week is worth you can get good value out of that (assuming you have interest in the other HGVC resorts).

Thank you. It is good to know that the value will hold and the anticipated MF increases will be less than many other HGVC locations. I intend to visit LV from time to time but my intention is to mainly to use the points at other domestic and international resorts more during prime season. Luckily, I do have flexibility with my planning so even though prime season is the goal, I can always go during an off season. I am still mystified in converting the points into RCI and the fees associted with that vs planning a similar trip outside. Is there any insight into comparing costs so I can compare $ to $?

 

[weems637]

The secret to owning a timeshare, at any price, is to use it! Plus, you can borrow future year points to plan multiple weeks in one year.

 

[Reddart]

Though I think some use RCI successfully and possibly strategically, I have not found much use for my purposes outside of the HGVC properties. YMMV.

 

[brial05]

Did I make a mistake? In contract to buy 15360 points @ Elara/ 2 br plus platinum annual for 10k. It felt right since I didn't give in during the HGVC presentation. I just wonder if it makes economic sense. I plan to vacation 2x a year. Any suggestions are greatly appreciated.

I really want to enter this property and I am combing the resale market for a steal on the 11,200 1-bedroom.

Everything mentioned has been spot on. The only thing I will mention if you've not completed your contract is that if you don't need all the points, you "could" consider the 11,200-point Elara, which is a one-bedroom and, therefore, has fewer MFs.

 

[ernststarhemberg]

I wouldn't sweat it. Still saved boatloads of money versus buying retail, and as unpopular an opinion as this may be, fretting over finding the absolute lowest marginal cost in existence on these deeds isn't worth it in the grand scheme of things. You saved a ton of money, you got a good deed, now enjoy it.

 

[islandbanker]

I agree, I did save money by not buying retail. But, by the time I squished all the calculations on the resale, with MF's and related booking fee's, it just wasn't worth it.

 

[Kaneo'pohaku]

I will point out that you need to be careful when buying Elara. (Elara is a mixed property of HGVC and Westgate deeds) You need to be sure that you are purchasing an HGVC deed and not a Westgate one. Since you stated 15340 pts, that should be an HGVC deed because Westgate Elara deeds don't come with points. This will be clear on the estoppel (there are examples of both estoppel types, if you search the forum).

One thing to note is that when I bought my elara deed, the papers had "Westgate" on them but I had to look at the estoppel to verify I'd be getting 13440 points in the hgvc system.

I called my agent a few times just to clarify because Westgate was all over the papers.

I'm 6 months post acquisition and it was a hgvc deed. The papers were confusing and concerning as the estoppel had Westgate written into the language but also had hgvc too.

I've stayed at multiple hgvc Resorts since then with my points so it's all good.

The agent told me that that's the way hgvc does their deeds.