HVC Hawai’i trust purchase

[Apely2]

We love a former Diamond Resort and have been airing it here multiple times a year for a few years. We have never attending a timeshare presentation and found ourselves at one this time. After many long hours with a “new owner turned sales person”. We purchased 8.500 points biennially in the Hawai’i Collection and paid $21,900 for the Initial investment. HVC “included” bonus of 8,500 points and paid the first two years of maintenance fees $989, paid the first annual membership due $299, and the initial $205 fee, which seemed like a great deal after all the other options we were presented with.

We have asked ourselves multiple times what did we do, after finding this forum, I’m thinking about rescinding as we are still in our 7-day window. Feeling like we just don’t know what we got or how to use the “points” we purchased.

 

[bizaro86]

You should rescind. You can get the same thing resale for at least $20,000 less. And if you're not sure if that's exactly what you want rescind and spend some time looking around, fill out the newbies questionnaire and you'll get great advice. But for now focus on rescinding.

The same deal will be available later if you really want it, but once the rescind period is over the 21.9k is gone forever.

 

[GT75]

We have asked ourselves multiple times what did we do, after finding this forum, I’m thinking about rescinding as we are still in our 7-day window. Feeling like we just don’t know what we got or how to use the “points” we purchased.

You have already answered your own question. I would also suggest that you rescind.

which seemed like a great deal after all the other options we were presented with.

I am sure that the salesperson didn’t present you with the resale market for HVC. You can get HVC/DRI trust points for free on the resale market. Personally, I wouldn’t purchase HVC/DRI trust points either resale or retail.

 

[Apely2]

You have already answered your own question. I would also suggest that you rescind.

I am sure that the salesperson didn’t present you with the resale market for HVC. You can get HVC/DRI trust points for free on the resale market. Personally, I wouldn’t purchase HVC/DRI trust points either resale or retail.

May I ask why you wouldn’t purchase HVC/DRI points?

 

[GT75]

May I ask why you wouldn’t purchase HVC/DRI points?

First, it will be very hard to sell when you are finished with the purchase because HVC/DRI restricts the use of resale.
Secondly, MFs are very high especially for the quality of the resorts.
Thirdly, similar to previously, there are only a few resorts which I would be interested in such as Cabo Azul. But then the point requirements are very high compared to other options.

Now full disclosure, I have never stayed at a HVC/DRI property. So, some of my information is just via what I have read others state here on TUG. But that is about to change because I am now have access to HVC/DRI and former Embarc via DEX. I have one HVC property booked (Cabo Azul) and thinking about booking some other properties via DEX Xtra vacations. I have two former Embarc properties booked also via DEX.

 

[dioxide45]

Certainly rescind. If you plan to go to the same resort often, look for a deeded week at that resort. Avoid the Diamond trust collection ownership that they were selling. Also avoid it on the resale market. Acquiring a deeded week would serve you best.

 

[geist1223]

Back before Hilton became involved in DRI we started in the DRI Hawaiian Collection. Later we bought 500 Points in Cabo Azul and had our Ownership move to Cabo Azul. Saved a lot on MF's. We never had a problem Booking into the Hawaiian Resorts after this change.

But there are Big Restrictions if you buy DRI Resell. You can only use your Points in your Home Collection.

 

[Apely2]

You should rescind. You can get the same thing resale for at least $20,000 less. And if you're not sure if that's exactly what you want rescind and spend some time looking around, fill out the newbies questionnaire and you'll get great advice. But for now focus on rescinding.

The same deal will be available later if you really want it, but once the rescind period is over the 21.9k is gone forever.

Sorry, I cannot find the newbie questionnaire. Does someone happen to know where that is located?

 

[dioxide45]

Sorry, I cannot find the newbie questionnaire. Does someone happen to know where that is located?

"What to Buy" Questions for New Timeshare Owners

Here are some questions you can answer to focus your timeshare wants/needs. Suggestion - copy the questions below, and start a new thread entitled "My Survey" or "What should I buy?," or something similar, and answer the questions in a NEW thread. 1) Is there a vacation destination you wish...

tugbbs.com

 

[WaikikiFirst]

many long hours

You lost me right there. Why do people put up with this?

 

[WaikikiFirst]

paid $21,900 for the Initial investment

there is the thing. If you put $22K into something that is supposed to provide benefits over & over in the ensuing yrs, it is an investment. But how can people put $22K into "an investment" without "knowing what we got"?
Step 1: It is an investment
wait for final closure
Step 2: It is basically a complete write-off

 

[WaikikiFirst]

which seemed like a great deal after all the other options we were presented with

all the other options we were presented with WHILE WE WERE IN THIS ROOM.

 

[Apely2]

A

there is the thing. If you put $22K into something that is supposed to provide benefits over & over in the ensuing yrs, it is an investment. But how can people put $22K into "an investment" without "knowing what we got"?
Step 1: It is an investment
wait for final closure
Step 2: It is basically a complete write-off

Agreed, we looked at it like a write off initially. Then my frugal mind got to work and I found this forum.

 

[Monkeyboy]

May I ask why you wouldn’t purchase HVC/DRI points?

I bought at Kaanapali beach club back when they were selling weeks. Then through sampler packages and exchanges I have used Diamond, Marriott Westin and HGVC. Ended up purchasing my next timeshares at HGVC through resell. Take your time and figure out which system works best for you, where you want to go what room size you need and what your budget is. Ask a lot of questions.

 

[artringwald]

Trust ownership is nice because of the flexibility. You can book any number of days. However, the maintenance fees for enough points to book a week are about 50% higher than a deeded week. Weeks can easily be exchanged through the HVC exchange program. Our first purchase was in 2004 when they sold deeded weeks that were in the Club so you could use points for booking. Since then we bought 2 deeded weeks for a fraction of the original purchase. We're very happy we didn't buy points.

Do yourself a big favor and rescind immediately!