CartmanLikesPie
TUG Member
Hello all!
I just joined TugBBS & TUG (mainly to get an answer to this question, but also because I am now convinced that timeshares are a great way to vacation and I want to know more) and I need some help from "the experts". I recently visited a Hilton Grand Vacations Club resort in Orlando (before I found out about TUG ) and attended their presentation. The timeshare points concept sounded like a great idea and I bought a Ruby Lake every-other-year 4800 points plan that starts accruing points in 2009 (an odd year plan) for just under $15,000. I had/still have some affordability issues but they let me put $500 down with $1600 more due in the next 2 months and then $250 a month for 84 months ($22,952 when all is said and done including closing costs). The kicker is that they threw in a 10,000 point bonus that becomes available in early 2008! Annual fees are $461 paid every other year.
I looked around the forums here a bit and checked ebay and of course I feel like a paid too much because I bought from a developer (if I had known about the resale market...yada, yada, yada) but I am not sure because of the bonus.
I have 3 days left to recind and this is my main question:
1. Does the one-time 10,000 point bonus make this plan worth keeping (and paying the developer $15k to $23k depending upon what other financing I can get) versus purchasing a HGVC plan (preferable 5000 point every year or more) via the resale market and forfeiting the 10,000 bonus?
On ebay, I see that someone sold an annual 3400 gold points 1 BR South Beach HGVC for $2500 that requires $836 for annual maintenance fees. I thought I saw a ~5000 point Hawaii HGVC go for $4371 when I checked last week but I don't see it now.
Some followup questions:
2. Do you think it is realistic to expect to find a resale market annual HGVC 5000 point gold or better plan for $3000 to $6000 (I can be patient)?
3. Will HGVC try to thwart my future purchases of their properties via the resale market (via ROFR) if I recind now?
I am sorry if I needed to do more research here on the boards before asking such stupid questions, but I have looked at other HGVC posts and I cannot really figure out the answer to my "worth it" question. I am in no hurry to use the vacation plan in 2008 as I have plenty of time commitments.
I just joined TugBBS & TUG (mainly to get an answer to this question, but also because I am now convinced that timeshares are a great way to vacation and I want to know more) and I need some help from "the experts". I recently visited a Hilton Grand Vacations Club resort in Orlando (before I found out about TUG ) and attended their presentation. The timeshare points concept sounded like a great idea and I bought a Ruby Lake every-other-year 4800 points plan that starts accruing points in 2009 (an odd year plan) for just under $15,000. I had/still have some affordability issues but they let me put $500 down with $1600 more due in the next 2 months and then $250 a month for 84 months ($22,952 when all is said and done including closing costs). The kicker is that they threw in a 10,000 point bonus that becomes available in early 2008! Annual fees are $461 paid every other year.
I looked around the forums here a bit and checked ebay and of course I feel like a paid too much because I bought from a developer (if I had known about the resale market...yada, yada, yada) but I am not sure because of the bonus.
I have 3 days left to recind and this is my main question:
1. Does the one-time 10,000 point bonus make this plan worth keeping (and paying the developer $15k to $23k depending upon what other financing I can get) versus purchasing a HGVC plan (preferable 5000 point every year or more) via the resale market and forfeiting the 10,000 bonus?
On ebay, I see that someone sold an annual 3400 gold points 1 BR South Beach HGVC for $2500 that requires $836 for annual maintenance fees. I thought I saw a ~5000 point Hawaii HGVC go for $4371 when I checked last week but I don't see it now.
Some followup questions:
2. Do you think it is realistic to expect to find a resale market annual HGVC 5000 point gold or better plan for $3000 to $6000 (I can be patient)?
3. Will HGVC try to thwart my future purchases of their properties via the resale market (via ROFR) if I recind now?
I am sorry if I needed to do more research here on the boards before asking such stupid questions, but I have looked at other HGVC posts and I cannot really figure out the answer to my "worth it" question. I am in no hurry to use the vacation plan in 2008 as I have plenty of time commitments.