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Hilton Grand vacations- 20,000 points for signing up?

david75093

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I went to Parc Soleil in Orlando on December 15th and attended a presentation from HGV Club. I bought 7,000 annual points, 3 bedroom, Gold at Ocean 22 in Myrtle Beach for $35,340.00. I also received 20,000 points at the signing that can be used within 30 days because I paid 20% down ($7,717.00), which I put on the Hilton American Express. ( I am able to pay it off right away and won't incur any interest).
I know little to nothing about time shares, but do know that we like to take one nice vacation at least once a year and usually spend between $4,000-$6,000 each trip, staying in a 1 room hotel room with 2 queen size beds (the kids share a bed), no kitchen, no separate bath. In the past we have gone to Sanibel, which has several HGV Club properties, been to Universal and Disney. I saw this opportunity with HGV as a chance to stay in a nice hotel for our annual vacations and pay about the same as I would for a standard hotel room with no upgrades to a suite.

I can use the 20,000 points in the next 2 years or convert to RCI for 4 years.
Questions:
1) In the HGV Club arena, did I get a good deal, given the 20,000 points up front OR do I rescind and go for resale market?
2) Will the VALUE of this investment go DOWN or go UP as time passes?
3) HGV made a big deal about being able to pass this along to our children. Is that really something that can be passed down? It seems like what 7,000 points can get you today will require twice as many points in the future?

Can you tell I don't know much about timeshares?

I'm obviously under the gun on time, so I would certainly appreciate your input. I have just a couple days to rescind.
 

semicycler

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First off, if you just bought this timeshare within the past few days, rescind immediately! Buying directly from the developer is the worst possible deal for you, even if they throw in bonus points. Check your paperwork about the rescinding process and follow it to the letter as fast as you can.

Next, you want to research buying a timeshare on the resale market. You can get 7000 points for less than $10K on the resale market, platinum season. You might even be able to find a 3-bed gold for 7000 pts for less than what you paid for just the deposit!

HGVC is a great program. Timeshares can be lots of fun. Rescind this horrible deal, take your time researching, and then reenter the timeshare arena via the resale market.
 

mtm65

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Rescind immediately if you can! We bought 7,000 platinum points for under $ 10,000 including closing costs!! You can do much better than the deal you purchased :)

Take your time, do some research, talk to Seth Nock or Judy Kozlowski & then buy what is right for you.

We worked with Seth and have no complaints.
 

Cyberc

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As others has mentioned Rescind asap. Buying from the developer is always way too expensive. Going resale is the "right" way unless your are buying at a new high demand resort which haven't got any resale yet and you want to stay at that particular each year. Then maybe buying from the developer is the way to go.

For comparison I've added 3400 pts (gold season) LV at the strip for 1000$ including closing costs.

Regards
 

SmithOp

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Regarding number 2, buying any timeshare is not an investment. The value went down as soon as the ink dried on your signature. Your investment is now worth 30 cents for every dollar you paid. Rescind.


Sent from my iPad using Tapatalk
 

Ron98GT

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First off, welcome to TUG, I noticed that you are a new member.

As stated rescind immediately. Follow the rescission instructions exactly as written in the documents/contract you were given. Send certified mail, return receipt requested. And don't talk to/with any body from/with Hilton/HGVC.

Buy resale. Purchase at least 7,000 points, preferably more the better. Las Vegas has the lowest Maintenance Fees (MF's). Unless your going back to the same HGVC resort and need a specific week/period, with HGVC points are points and can be exchanged anywhere (almost), so pay the least for your points and get the lowest MF's. For 7K points, figure about $1/point (+ closing costs), +/- depending where you buy and the week you purchase (spring break, ski season, holidays, etc.). The more points you purchase, the greater the $/points. The less points you purchase, the less $/points. The MF's for a gold are the same as a Plat week.

Yearly MF's are coming due, so there will be people who will want to sell there TS's rather than pay the 2015 MF's.

I'm a detail person and I like to shop for a deal, so I prefer to not use a salesperson/broker. But if your interest is to just purchase a TS for you and the family, not spent a lot of time learning all the details, and not get burnt, which can happen, as others have stated you might just want to contact someone like Seth who is a TS broker who works with a lot of other TUG'ers and can answer your question. But if you want to hunt for a resale HGVC TS on your own, you can find a lot of information and get a lot of help here on TUG, and then welcome to the hunt.
 
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Jason245

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Cancel the contract asap(make sure to use certified mail with return receipt).

Do some research to fully understand what hgvc and the other Timeshare programs offer, the benefits, the costs, whether to buy resale or directly etc. Figure out what you truly need as a family, check out the rentals thread where they offer weeks at these locations for less than 700 a week. Try a couple out if you want. And only then buy.

I spent months getting educated before I bought an eoy 1 br hgvc unit 4800 pts (for free).

If you are asking these questions, you aren't educated. I promise you that hilton will let you buy a unit for 35k next month or in 6 months and give you the bonus points, but once your window closes, there is no turning back.
 
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I love tug for this, saving hapless TS victims just in the nick of time. Merry Christmas to all! You've done a good deed. Rescind right away OP. I would add that in addition to certified mail, Fax the rescission document immediately with proof that you sent it if it states that this is an acceptable form of notice. That way you cover all grounds and notified them immediately.
 
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presley

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Questions:
1) In the HGV Club arena, did I get a good deal, given the 20,000 points up front OR do I rescind and go for resale market?
2) Will the VALUE of this investment go DOWN or go UP as time passes?
3) HGV made a big deal about being able to pass this along to our children. Is that really something that can be passed down? It seems like what 7,000 points can get you today will require twice as many points in the future?
1.) In the long run, you are much better off buying resale. You'll save thousands of dollars and will save much more than what the 20K bonus points are worth.

2.) It will go down in terms of reselling. You'll never get anywhere near what you paid. However, the retail cost of the unit will keep going up.

3.) You can pass this to your children. Your children can refuse to accept if if they don't want the costs of owning it. Annual dues go up every year. Those include, MF, taxes and Hilton club membership. Hilton also raises the fees for using their program, such as reservation fees, guest fees, etc. So, by the time your children can inherit it, it may not be worth it to keep it.

If you cancel this sale, and I strongly suggest that you do, just follow the instructions and mail certified return receipt. Do not call anyone and don't answer the phone if they call you.

EDIT: YIKES! Based on your purchase date, you may be out of luck with canceling this.
 

TUGBrian

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Merry christmas, you just got a 35,000 dollar savings as a present!
 

Ron98GT

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EDIT: YIKES! Based on your purchase date, you may be out of luck with canceling this.
Doesn't Florida get a 10 day rescission period :shrug:
 

Tkjohns1

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Just got suckered into a bad deal

Taking your advice from the previous posts, I am rescinding tomorrow. I have 8 days to rescind. On Sunday, I bought HGVC with 14400 points plus 45 points as a bonus for a ridiculous $80k at Kona in the new Kings.
it gives me 30 to 45 days per year and I am looking for that especially in Thailand and SE Asia and Italy.
Where do you recommend a buy a resale for that market and to reduce maintenance fees???

Thanks in advance.
 

Cyberc

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Taking your advice from the previous posts, I am rescinding tomorrow. I have 8 days to rescind. On Sunday, I bought HGVC with 14400 points plus 45 points as a bonus for a ridiculous $80k at Kona in the new Kings.
it gives me 30 to 45 days per year and I am looking for that especially in Thailand and SE Asia and Italy.
Where do you recommend a buy a resale for that market and to reduce maintenance fees???

Thanks in advance.
Hi

It depends, if you want the lowest MF possible, then you should look at Las Vegas, but that wont give you either of your choices. From what I know HGVC is not present in Thailand.

HGVC is however present in Italy, but its a fairly new property, so I dont think you could find any resale (yet). You could trade into italy, but I think the availability is limited. Here you would need to buy direct, your best option to do that would be to call HGVC. I dont know how low/high the mf is in Italy.

regards
 

holdaer

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Anantara vacation club

Taking your advice from the previous posts, I am rescinding tomorrow. I have 8 days to rescind. On Sunday, I bought HGVC with 14400 points plus 45 points as a bonus for a ridiculous $80k at Kona in the new Kings.
it gives me 30 to 45 days per year and I am looking for that especially in Thailand and SE Asia and Italy.
Where do you recommend a buy a resale for that market and to reduce maintenance fees???

Thanks in advance.
Anantara Vacation Club resorts are available to ALL HGVC club owners. You just have to call to find availability within the 9 month club season reservation window.

You could purchase a high point, low maintenance fee TS in Orlando or Las Vegas and book into Anantara. The only thing is that Anantara is an affiliate and relationships could change. As an example, their point structure went up about 45% from 2015 to 2016.
 

brp

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Regarding number 2, buying any timeshare is not an investment. The value went down as soon as the ink dried on your signature. Your investment is now worth 30 cents for every dollar you paid. Rescind.
As a blanket statement, this is simply not true (although it is a good generalization). Each case is different, though.

For example, we bought some DVC properties in 2009. They are now worth a fair bit more than we paid for them, and we would make money if we decided to sell.

Also, we have W. 57th from HGVC, and this has pretty consistently been going up since they were first sold.

Our Flamingo, though, I'm not so sure about :)

I wholeheartedly agree with not buying as an investment, but it is just not universally true that a timeshare drops are soon as you drive it off the showroom floor.

Cheers.
 

frank808

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Disney Vacation Club (Aulani, SSR, VGC, VGF), Hilton Grand Vacation Club (Bay Club, Kohala Suites, The District DC)& Marriott Vacation Club (Grand Residence, Grand Chateau, Grand Vista, Harbour Lake, Willowridge, Aruba Surf Club, DC points)
Taking your advice from the previous posts, I am rescinding tomorrow. I have 8 days to rescind. On Sunday, I bought HGVC with 14400 points plus 45 points as a bonus for a ridiculous $80k at Kona in the new Kings.
it gives me 30 to 45 days per year and I am looking for that especially in Thailand and SE Asia and Italy.
Where do you recommend a buy a resale for that market and to reduce maintenance fees???

Thanks in advance.
You could pickup the same kingsland 3br premier for under $30k on the resale market. The maintenance fee to point ratio is probably the cheapest right now for such a unit.
The only thing you will not get is the elite benefits with resale. Hope you rescind in time.
 
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