Is switching to points system a good or bad idea at Cape Canaveral?

[Kcam1212]

We purchased a 2 BR lockout for week 14 in 2004 when Holiday Inn Club Vacations Cape Canaveral was Ron Johns Cape Caribe. We are platinum members (although I don't know what that means) .
Here are my questions if anyone can help.
1. Can I book at any Holiday Inn Vacations Club location with this purchase?
2. Does depositing this week into RCI get us anything worth anything?
3. Is switching to a points system a good or bad idea?
4. Will this timeshare sell if I list it and for how much?
5. Will Holiday Inn buy it back from us since we don't use it?

And finally, what is the best way to get the most bang for our buck with this timeshare? Thanks in advance for any sage advice. Completely uneducated when it comes to timeshares.

 

[tschwa2]

1. Without another purchase you are weeks owner and if you want to go somewhere else, you need to use rci.

2. You week is worth 29 tpu's currently for 2025 and 2026 but it would be a late deposit in 2025 so worth 23 this year. The scale is 2-60 Probably about 75-80% of deposits are worth less than 30. RCI would cost you about $100 per year and each week exchange would be about $309.

3. Switching to HICV isn't a bad idea in my option but it is probably fairly expensive and may cost more than you want to pay. I am going to guess they would require you to purchase at least 75,000 points which I am going to guess would be in the $16,000 range. I think it probably isn't worth that much especially considering the 75,000 points not only has the buy in cost but would then cost you almost $800 more in MF"s plus an annual membership fee for HICV of around $160, plus the MF's you already pay.

If your week was converted to points it would be worth somewhere between 140,000 and 210,000 depending on view type.

4. If your unit is ocean front it will be on the higher end but my guess is somewhere between $0 and $3500. Anything listed for over $2000 will probably take significantly longer to sell.

5. Holiday inn will not buy it back. You can pay them $1200 if you are up to date in all your fees including MF's and they will take it back and give you nothing. If you start the process after September, you may also have to pay2026 MF's.

If you want out sooner rather than later, I would start listing it at $500 with the buyer paying the closing costs and transfer fees which should be under $400. If no takers you can go down from there. I don't think you would have to pay the $1200 to use HICV exit program. You might have to drop it to $0 with buyer paying transfer recording fees, etc. If you are not in a hurry you can start listing it at $2500-$3500 , you could throw in 2025 usage if you want or up it another $500-$1000 for that.

 

[Kcam1212]

Wow. What a concise answer. Many thanks for your help. I’ll probably try to “sell” it and if that doesn’t work then go with the $1200 holiday inn “take it off my hands” route.

 

[Tank]

You should be able to sell it, not for much but sure beets paying $1200

Sure don’t need to buy into more if your not using what you have
Here is a good Facebook group to get info