Hilton Vacation Introductory Program (VIP)

[TimeWizard]

Hi all,

I’m new here and need your input.

I have 1 week deeded timeshare at Virginia Beach and attended Hilton presentation only for their gifts.

However, One thing that the sales rep said caught my attention, which is that Hilton has exit strategy from timeshare ownership; yea - you may say that I got tricked, but at some point in our lives I would have to get rid of it. He said that Hilton would purchase my timeshare in the future, if I no longer want it, for 30% of its original value. He claims it is in writing. For that reason I took the risk and did agree to try out their VIP for 18 months.

The sale rep claims that my deeded week worth points (let’s say 10,000pts/year) and if I upgrade within 18 month, I would add their points (let’s say 3,000/year with $400/year maintenance fee) on top of mine annually. Note: I would still have my deeded place at VB and would still have to pay its maintenance fee. I could still use my VB place. My total annual MF would be the current MF + $400.

I don’t trust the sales rep and have still the option to cancel In the next few days. This is why I need your honest input.

• Is their exit strategy real (i.e., 30% of the original price) and/or I would have to pay other fees where I end up with practically nothing?
• Is their exit strategy applicable to both my VB deeded property or only the upgraded portion?
• should I bail out from this contract?

Thank You!

 

[colatown]

Hi all,

I’m new here and need your input.

I have 1 week deeded timeshare at Virginia Beach and attended Hilton presentation only for their gifts.

However, One thing that the sales rep said caught my attention, which is that Hilton has exit strategy from timeshare ownership; yea - you may say that I got tricked, but at some point in our lives I would have to get rid of it. He said that Hilton would purchase my timeshare in the future, if I no longer want it, for 30% of its original value. He claims it is in writing. For that reason I took the risk and did agree to try out their VIP for 18 months.

The sale rep claims that my deeded week worth points (let’s say 10,000pts/year) and if I upgrade within 18 month, I would add their points (let’s say 3,000/year with $400/year maintenance fee) on top of mine annually. Note: I would still have my deeded place at VB and would still have to pay its maintenance fee. I could still use my VB place. My total annual MF would be the current MF + $400.

I don’t trust the sales rep and have still the option to cancel In the next few days. This is why I need your honest input.

• Is their exit strategy real (i.e., 30% of the original price) and/or I would have to pay other fees where I end up with practically nothing?
• Is their exit strategy applicable to both my VB deeded property or only the upgraded portion?
• should I bail out from this contract?

Thank You!

Were his lips moving.

 

[TimeWizard]

Were his lips moving.

I’m assuming you are saying that then”Exit Strategy” is a lie (??).
He wrote it down on his notes and I have it with me. Do these notes hold any legal value in front of the court?

 

[tschwa2]

If the contract doesn't mention it, then I doubt the sellers notes are enforceable. There is no way they could legally exit you out of your non Hilton week. What you purchase would have no resale value and likely you would be eligible for whatever exit program they have in the future for your hilton purchase. Currently their exit program is, you have to pay it off and be up to date with MF's and pay another $1000 and then you can get out. You also have to keep up with the MF's but not use the points during the period while the exit transfer takes place.

Also if you are using your VB place you don't get to use the 10,000 points for that year. It is either use your week or give it to them for the year and receive the use of 10,000 points.

 

[TimeWizard]

Now he is changing his statement to “No. I said Hilton would sell your ownership and give you 30% of the sale.”
please let me know if this is accurate?

 

[Nowaker]

He claims it is in writing.

Where? Did you see it?

 

[dayooper]

Now he is changing his statement to “No. I said Hilton would sell your ownership and give you 30% of the sale.”
please let me know if this is accurate?

That’s more like it. They do have a resale division. They use a couple of well known brokers to sell. It’s just something you can do your self and not pay the HGVC premium to do.

 

[tschwa2]

So it wouldn't be guaranteed and it might not sell or it might not sell for much. So I wouldn't count on getting anything back, and that is if they are even offering that program when you decide you want out.

 

[CalGalTraveler]

Rescind ASAP.

BTW...never exchange your deeded week for points. Bad value.

They take 70% of the resale value (which could be next to nothing) and you take only 30%? That's a new twist and crazy. Sell or give it away here on TUG or Redweek. Deeds are more desireable. Club points have little/no resale value and high MF so very difficult to dispose.

 

[TimeWizard]

So, do you think it‘s worth the investment to add/upgrade with 3,000pts/yr with $400/yr of MF for $6,900?

since Diamond has been bought by Hilton, would I be able to ‘exchange‘ my week into points and use it on Hilton‘s property without upgrading?

 

[CalGalTraveler]

You are better off trading in DEX which you already have access.

If you want to use your VB deeded week but to trade in HGVC, then buy a resale HGVC deed in Vegas or Scotland for < $6900. Adds about $900 in MF or you can buy an EOY for $2000 or half the MF cost.

 

[SmithOp]

So, do you think it‘s worth the investment to add/upgrade with 3,000pts/yr with $400/yr of MF for $6,900?

since Diamond has been bought by Hilton, would I be able to ‘exchange‘ my week into points and use it on Hilton‘s property without upgrading?

There is a new offering called HGVMax that allows DRI points to be used at HGVC propoerties. Is that included in the offer?

I thought the VIP program was one time use points to try out HGVC, then you attend another presentation to buy something.

Sent from my Lenovo 10e using Tapatalk

 

[pedro47]

So, do you think it‘s worth the investment to add/upgrade with 3,000pts/yr with $400/yr of MF for $6,900?

since Diamond has been bought by Hilton, would I be able to ‘exchange‘ my week into points and use it on Hilton‘s property without upgrading?

No.

 

[Nowaker]

So, do you think it‘s worth the investment to add/upgrade with 3,000pts/yr with $400/yr of MF for $6,900?

It's not worth it.
It's not an investment.