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Just bought a Holiday Inn vacation timeshare

jahorta

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Hi There,

I just bought a timeshare along with my wife this last Saturday, but after finding this site, we are thinking about rescinding. We bought 100k points for 20k at the resort at Scottsdale resort and bought this while visiting the Cape Canaveral Resort in Florida.

After reading some posts here it looks like we may have made a mistake.

We really like how the point system works, but are thinking in buying aftermarket instead. However, I do have a couple of questions about that.

If we to buy a points system timeshare from the re-sellers market, are we going to lose out on any benefits? Will the points revert to a week? Would we not be able to upgrade later to more points?

Any advice would be greatly appreciated!

thanks!
 

vacationtime1

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The first thing you should do is to rescind your contract. There is a very short time period to do so and if you do not, you lose that opportunity forever. You have $20,000 on the line.

Rescind exactly according to instruction: everyone who signed the contract must sign the rescission letter, send it by mail/FedEx, etc. per instructions (but also use a method that proves that you sent it, such as FedEx or registered mail), and get it done now.

You clearly want to research further. That is good -- but rescind first. The deal you were offered last Saturday will always be there.
 

Passepartout

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We really like how the point system works, but are thinking in buying aftermarket instead. However, I do have a couple of questions about that.

If we to buy a points system timeshare from the re-sellers market, are we going to lose out on any benefits? Will the points revert to a week? Would we not be able to upgrade later to more points?

Any advice would be greatly appreciated!
OK, the advice first. RESCIND! The instructions and address are in the contract you signed. Poof- you've instantly saved $20,000 as soon as it's in the mail.

Now the quick and dirty answers to your questions- I can't explain resale timeshares in every points based system in a sentence or two. In 99% of resales you will lose some of the perks that are included by the salesweasels as an incentive to buy. That said, those perks might be worth perhaps a thousand or two, and when those 'bonus points' are gone, what remains is identical to what a resale purchase has. In MOST cases the points will remain as points. Most systems allow you to either 'buy' more points or if you want more on a permanent basis, many of us resale buyers just take on another contract and add the points into our existing account.

Get your letter in the mail, then come back and learn, learn, learn and become an informed buyer. If, after becoming informed, you feel that the direct purchase from the developer is a better deal, what you are rescinding will still be available.

Welcome to TUG

Jim
 

jahorta

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The first thing you should do is to rescind your contract. There is a very short time period to do so and if you do not, you lose that opportunity forever. You have $20,000 on the line.

Rescind exactly according to instruction: everyone who signed the contract must sign the rescission letter, send it by mail/FedEx, etc. per instructions (but also use a method that proves that you sent it, such as FedEx or registered mail), and get it done now.

You clearly want to research further. That is good -- but rescind first. The deal you were offered last Saturday will always be there.
Thanks Robert! I think we will send the letter today. I do need to do more research and should have started here :/
 

jahorta

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OK, the advice first. RESCIND! The instructions and address are in the contract you signed. Poof- you've instantly saved $20,000 as soon as it's in the mail.

Now the quick and dirty answers to your questions- I can't explain resale timeshares in every points based system in a sentence or two. In 99% of resales you will lose some of the perks that are included by the salesweasels as an incentive to buy. That said, those perks might be worth perhaps a thousand or two, and when those 'bonus points' are gone, what remains is identical to what a resale purchase has. In MOST cases the points will remain as points. Most systems allow you to either 'buy' more points or if you want more on a permanent basis, many of us resale buyers just take on another contract and add the points into our existing account.

Get your letter in the mail, then come back and learn, learn, learn and become an informed buyer. If, after becoming informed, you feel that the direct purchase from the developer is a better deal, what you are rescinding will still be available.

Welcome to TUG

Jim
Thanks Jim, It made it sound like the deal was just available for that day and we fell for it. I will do my research now that I found the site and send the letter ASAP.
 

TUGBrian

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Grats on finding us in time to save $20 grand!
 

Fredflintstone

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Grats on finding us in time to save $20 grand!
Sigh. I bet the timeshare salesman hates TUG. Poor fella is out 10 k in commissions.... and just in time. Arizona has a 7 calendar recession period and this smart OP just beat the wire. Say, Brian, can we all split half the commission this guy saved just by checking out TUG?
 

jahorta

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Sigh. I bet the timeshare salesman hates TUG. Poor fella is out 10 k in commissions.... and just in time. Arizona has a 7 calendar recession period and this smart OP just beat the wire. Say, Brian, can we all split half the commission this guy saved just by checking out TUG?
That just breaks my heart to know they are not getting their commission(NOT). I think they prey on the misinformed.
 

Fredflintstone

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I just watched Timeshare Mastery on Youtube. Its fun to watch as its a resource on how timeshare salespeople take the boots to their customers by selling them the biggest package possible while taking the boots towards a kick@$$ paycheque. She shares the tricks they use to squeeze the most.

Its fun to see what the other side does and yes they love socking it to misinformed folks. Its like shearing a sheep. Baaaaahhhh.


Sent from my iPhone using Tapatalk
 

rickandcindy23

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As for buying something really great for much less, that is totally doable. The thing I would buy is maybe Hilton Points. Hilton Points are much more valuable than Holiday Inn points. I wouldn't even say they are even a good comparison because it would be totally unfair to Holiday Inn in quality and value.

Think about where you want to go and what you see yourself doing in the near future.

I know very little about Holiday Inn points via resale and how resale would compare in benefits to buying retail. Hilton is awesome. I do know the Orlando resorts that are Holiday Inn, having stayed there, and I have had some pretty negative experiences with Orange Lake. I have a personal dislike for anything to do with Holiday Inn/ Orange Lake.
 

Fredflintstone

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Thanks you all. I have sent the letter and fingers crossed it gets there just fine. For Florida it says 10 days after you sign, but that means from the day it was postmarked correct?
Awesome. Be sure to send registered return receipt or however way they outline in your contract.

You bought in Scottsdale AZ right? If so you have 7 calendar days. If you sent it today you are good either way.

Its so nice to see another person not get sheared like a sheep. Baaaaahhhh.


Sent from my iPhone using Tapatalk
 

Passepartout

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Thanks you all. I have sent the letter and fingers crossed it gets there just fine. For Florida it says 10 days after you sign, but that means from the day it was postmarked correct?
You will be just fine. Day 1 is actually the day AFTER you sign the contract, but you are way ahead of the curve. For YOUR peace of mind we suggest that you send it USPS Certified w/return receipt. That way you KNOW when it's delivered, but if you didn't do that, it's your call to send another, or just trust that the Post Office comes through. The resort is under NO obligation to notify you of it's receipt, or of any progress in the rescission. And it can take up to 45 days for the refund to be posted by your credit card (if that's what you used for the down payment). The next few weeks will be stressful with the waiting.

Congratulations on the decision not to go through with this purchase. I see others have already chimed in to proselytize you to THEIR favorite TS chain. Read the newbies thread. And check out the various TS company forums. You will see that some have more resort availability in different areas of the US and overseas.

We strongly suggest you rent for the first few times you go on TS vacations. You can often rent for less than the annual maintenance fee (MF) of the unit, and of course no ongoing expense.

Happy reading!

Jim
 

Passepartout

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Awesome. Be sure to send registered return receipt or however way they outline in your contract.

You bought in Scottsdale AZ right? If so you have 7 calendar days. If you sent it today you are good either way.

Its so nice to see another person not get sheared like a sheep. Baaaaahhhh.


Sent from my iPhone using Tapatalk
Fred, it's Certified, NOT Registered. And the OP bought in Florida.
 

jahorta

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You will be just fine. Day 1 is actually the day AFTER you sign the contract, but you are way ahead of the curve. For YOUR peace of mind we suggest that you send it USPS Certified w/return receipt. That way you KNOW when it's delivered, but if you didn't do that, it's your call to send another, or just trust that the Post Office comes through. The resort is under NO obligation to notify you of it's receipt, or of any progress in the rescission. And it can take up to 45 days for the refund to be posted by your credit card (if that's what you used for the down payment). The next few weeks will be stressful with the waiting.

Congratulations on the decision not to go through with this purchase. I see others have already chimed in to proselytize you to THEIR favorite TS chain. Read the newbies thread. And check out the various TS company forums. You will see that some have more resort availability in different areas of the US and overseas.

We strongly suggest you rent for the first few times you go on TS vacations. You can often rent for less than the annual maintenance fee (MF) of the unit, and of course no ongoing expense.

Happy reading!

Jim
I have sent then letter via certified mail today. I even thought about sending a second copy tomorrow in case the first does not make it for some reason.

I know its going to suck until I know for sure the contract has been cancelled. uh!

I have a lot of reading to do regarding TS for sure. I will do my research now that I found this site thought, and I've already seen good deals in the Rent section.
Many thanks for the replies from everyone and its nice to see people willing to pitch in and help out.
 

jahorta

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As for buying something really great for much less, that is totally doable. The thing I would buy is maybe Hilton Points. Hilton Points are much more valuable than Holiday Inn points. I wouldn't even say they are even a good comparison because it would be totally unfair to Holiday Inn in quality and value.

Think about where you want to go and what you see yourself doing in the near future.

I know very little about Holiday Inn points via resale and how resale would compare in benefits to buying retail. Hilton is awesome. I do know the Orlando resorts that are Holiday Inn, having stayed there, and I have had some pretty negative experiences with Orange Lake. I have a personal dislike for anything to do with Holiday Inn/ Orange Lake.
I will look into the Hilton Vacations as well. I use Hilton properties when traveling for work and they are indeed great.

Thinking on how this may fit in our travel plans is key indeed. We have done a lot of international travel and sometimes we just don't know where and for how long we are going to say in one place. So for this a timeshare is not optimal, but it is attractive nevertheless. Especially now that we have 16 month old twins and we would like to make some memories by going to different places.
 

Passepartout

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I have sent then letter via certified mail today. I even thought about sending a second copy tomorrow in case the first does not make it for some reason.
Unnecessary. There are stiff penalties if they don't process your timely rescission. Stressful, yes. But you will have your refund before Christmas.

Jim
 

dayooper

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I will look into the Hilton Vacations as well. I use Hilton properties when traveling for work and they are indeed great.

Thinking on how this may fit in our travel plans is key indeed. We have done a lot of international travel and sometimes we just don't know where and for how long we are going to say in one place. So for this a timeshare is not optimal, but it is attractive nevertheless. Especially now that we have 16 month old twins and we would like to make some memories by going to different places.
Check out the HGVC (Hilton) forum. So much great info there. HGVC is incredibly flexible and resale owners get every benefit that developer bought, excepting elite status. Except for their sales staff, they treat their owners very well.
 

jacknsara

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Hi There,

I just bought a timeshare along with my wife this last Saturday, but after finding this site, we are thinking about rescinding. We bought 100k points for 20k at the resort at Scottsdale resort and bought this while visiting the Cape Canaveral Resort in Florida.

After reading some posts here it looks like we may have made a mistake.

We really like how the point system works, but are thinking in buying aftermarket instead. However, I do have a couple of questions about that.

If we to buy a points system timeshare from the re-sellers market, are we going to lose out on any benefits? Will the points revert to a week? Would we not be able to upgrade later to more points?

Any advice would be greatly appreciated!

thanks!
jahorta
Great news that you found TUG in time.
I'm curious what search terms you used that led you here. The flip side of that question is why more first time buyers from developers don't find TUG in time to rescind.
Jack
 

jahorta

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jahorta
Great news that you found TUG in time.
I'm curious what search terms you used that led you here. The flip side of that question is why more first time buyers from developers don't find TUG in time to rescind.
Jack
I did general terms like Holiday inn timeshare review and eventually found this older post: https://tugbbs.com/forums/index.php?threads/holiday-inn-club-vacation-did-i-get-a-good-deal.238020/

And am glad I found it. Otherwise I would certainly have regretted my dumb decision of buy from the developer.
 

Bmatrose

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Hi There,

I just bought a timeshare along with my wife this last Saturday, but after finding this site, we are thinking about rescinding. We bought 100k points for 20k at the resort at Scottsdale resort and bought this while visiting the Cape Canaveral Resort in Florida.

After reading some posts here it looks like we may have made a mistake.

We really like how the point system works, but are thinking in buying aftermarket instead. However, I do have a couple of questions about that.

If we to buy a points system timeshare from the re-sellers market, are we going to lose out on any benefits? Will the points revert to a week? Would we not be able to upgrade later to more points?

Any advice would be greatly appreciated!

thanks!
To answer your questions. If you buy points on the resale market the only benefit you lose is the membership levels. That being said, the only resorts that stay points when you buy resale are Myrtle Beach, Gatlinburg, Lake Geneva and possibly Scottsdale. All other resorts will revert back to weeks when bought from a non immediate family member on the secondary market.
 

jahorta

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To answer your questions. If you buy points on the resale market the only benefit you lose is the membership levels. That being said, the only resorts that stay points when you buy resale are Myrtle Beach, Gatlinburg, Lake Geneva and possibly Scottsdale. All other resorts will revert back to weeks when bought from a non immediate family member on the secondary market.
Thanks for the advice. Please excuse my ignorance, but what exactly does the membership give you? I am mostly interested in being able to use RCI and maybe II for things like last call in addition to use points for stays. The sales people really try and sell you on the last call. They say they are great, but is that another lie from them? I have a feeling it is.
 

tschwa2

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last calls can be great but it depends when and where you want to travel. They tend to be more 3rd tier resorts during off season. It doesn't mean that you can't catch a nice 2nd tier resort during shoulder season or even find something during prime in areas like Orlando that have a lot of inventory.
 

Passepartout

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Thanks for the advice. Please excuse my ignorance, but what exactly does the membership give you? I am mostly interested in being able to use RCI and maybe II for things like last call in addition to use points for stays. The sales people really try and sell you on the last call. They say they are great, but is that another lie from them? I have a feeling it is.
owning ANY RCI TS gives access to Last Calls. They are leftovers that didn't get taken by exchange or regular rentals. They are generally 2nd tier resorts in shoulder or off season. You will NEVER see a Disney or ocean front summer or ski out in January in Last Calls. They cost under $300 for a week and sometimes under $200 on sales. Not that they are dogs, some nice resorts are there regularly where the resort wants to generate bodies for the sales dept to work on. Grandview in Las Vegas is such a place.

If you want to use the Last Calls or as II calls them, Getaways, pay the $15 to join TUG and get access to resort reviews to be able to compare.

Oh, those membership levels at resorts are generally meaningless... Overpriced 'upgrades' that are not guaranteed.

Jim
 
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