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Just bought but debating if it's worth it

cooper5114

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I have 10 days to decide and even though i want this to work, i'm not sure it makes a ton of sense. I put down the deposit for 3500 points and it seems to me that i'm really getting something that i cannot easily get without joining. Maybe you folks can give me some insight.

I'm paying between 35K (memory) + 1500/year

I have 4 kids so we're almost always going to want to stay in the 2BR suite -- location w/in a facility is not important to us.

if i look at properties i'm most immediately interested in it seems to me that i can just rent those on the open market. Am i missing something -- i.e. can i get a reservation using my points that i cannot get via the marriott web site?

For example i'm looking at 3 properties
- Park City (mountainside) - 12/16/13 - 12/20/13 - 228/night =
- Williamsburg - 6/4/14 - 6/9/14 - is $215 and 256/night
- Hilton Head (grand ocean) - 6/2/14 - 6/6/15 - is around $500/night

If i used my points this is what it would cost me
- Park City - 1200 + 675 = 1875
- Williamsburg - 250 or 625 points/night
- Hilton head - 450 1125 points/night

Also are the 'get aways' that much cheaper than what's on the open market.

Thanks for any help you can provide. i need to decide if it's worth it to pay 1500 every year for something like this.
 
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Rescind! Everything the salesman told you is a lie, you can have as good - if not better - for less than $500! Rescind, learn about resorts and (possibly) renting from here, find out which is the best resort to go to, etc.

TS
 

tompk

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It's not worth it. We almost bot some last month and had the sense to back out. You can always rent or buy points for one time usage for about .50-.60 per point or rent weeks on sites like redweek. The other option is to buy resale at the locations you prefer to visit often and just own those weeks which you can always exchange via Interval Intl
 

EKniager

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You most certainly can buy a week on HHI or Williamsburg for significantly less on the secondary market. Heck, I think there is a Williamsburg Platinum that was just posted for $500 + closing with an annual of $1,050.
 

billymach4

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Rescind, educate, then decide

First of all the standard advice around here given is to rescind. Read the paperwork, follow the instructions, go to the USPS and send back the materials with your letter Certified Return Receipt.

Hang out here on TUG. Read, research, ask plenty of questions, and get educated.

You can rent, buy resale, then decide later on to plunk down 35K + $1500. My personal advice would be to purchase resale. If you really like Marriott you can purchase resale for a good quality Marriott resort, in a high season , 2br for well under 10K. Heck I would even take a bet at under 5K. You will not be in the points system. No big deal since you can trade on II.

Save your hard earned cash.

You can also buy into other systems or resorts such as Wyndham, Bluegreen and exchange into other fine Marriotts, or other resorts.

In the end the Marriott system will still be available to purchase next month, or years ahead. Then you can still plunk down 35K and support the Marriott family.
 

SMHarman

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I have 10 days to decide and even though i want this to work, i'm not sure it makes a ton of sense. I put down the deposit for 3500 points and it seems to me that i'm really getting something that i cannot easily get without joining. Maybe you folks can give me some insight.

I'm paying between 35K (memory) + 1500/year

I have 4 kids so we're almost always going to want to stay in the 2BR suite -- location w/in a facility is not important to us.

if i look at properties i'm most immediately interested in it seems to me that i can just rent those on the open market. Am i missing something -- i.e. can i get a reservation using my points that i cannot get via the marriott web site?

For example i'm looking at 3 properties
- Park City (mountainside) - 12/16/13 - 12/20/13 - 228/night =
- Williamsburg - 6/4/14 - 6/9/14 - is $215 and 256/night
- Hilton Head (grand ocean) - 6/2/14 - 6/6/15 - is around $500/night

If i used my points this is what it would cost me
- Park City - 1200 + 675 = 1875
- Williamsburg - 250 or 625 points/night
- Hilton head - 450 1125 points/night

Also are the 'get aways' that much cheaper than what's on the open market.

Thanks for any help you can provide. i need to decide if it's worth it to pay 1500 every year for something like this.
It's a bad deal as others have said, but lets play with that fuzzy math.
So you just dropped $35k. I'm going to hope that is ready cash not financed or you are also paying $3500 a year in interest on that!
'need a 2 Br because the kids' well lets assume that will change in about 10 years.
And we know the resale of this is low. Lets be generous and say 5k but it is probably nearer 1k.
So you need to add $3k a year to the current $1500 a year. Thats $4500 a year.
Now, can you rent those nights you are looking at in December and June for that price. YES.
Those weeks in June and December are also when your kids are in school (unless you home school) so won't be the ones you are looking for in a few years.

So, $4500 a year vs
228/ night x 4
256/ night x 6
500 x 4
Thats $4500 so there is no benefit between cash or timeshare. But cash can be used for so much more so you are better keeping your money in fungible cash, not illiquid timeshare.

Rescind and if you want some timeshare buy resale.
 

billymach4

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First of all the standard advice around here given is to rescind. Read the paperwork, follow the instructions, go to the USPS and send back the materials with your letter Certified Return Receipt.

Hang out here on TUG. Read, research, ask plenty of questions, and get educated.

You can rent, buy resale, then decide later on to plunk down 35K + $1500. My personal advice would be to purchase resale. If you really like Marriott you can purchase resale for a good quality Marriott resort, in a high season , 2br for well under 10K. Heck I would even take a bet at under 5K. You will not be in the points system. No big deal since you can trade on II.

Save your hard earned cash.

You can also buy into other systems or resorts such as Wyndham, Bluegreen and exchange into other fine Marriotts, or other resorts.

In the end the Marriott system will still be available to purchase next month, or years ahead. Then you can still plunk down 35K and support the Marriott family.
I see others have chime in as predicted. Since I have not been following prices lately it seems to me that the resale market has continued to lose value.

You should also know that you will never recover the 35K you just signed over to Marriott as evidenced by the resale prices. As far as I know there is no system in place to resell DC points. I could be mistaken but this is a flaw in the the DC system for new developer purchases. There is no firm exit strategy documented on this forum. The sales force will lie and tell you "Marriott will buy the points back at 60%". At the end of the day only you will have to find a buyer for those points.
 

dioxide45

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YOu only have 10 days to rescind, but you have forever to then buy if you end up wanting to buy. As others have said, read and learn. If at the end, you still decide you want to buy points direct from Marriott, those will still be there to buy. But if you decide you don't want what you bought, after 10 days, you are stuck with what you bought.
 

TheTimeTraveler

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YOu only have 10 days to rescind, but you have forever to then buy if you end up wanting to buy. As others have said, read and learn. If at the end, you still decide you want to buy points direct from Marriott, those will still be there to buy. But if you decide you don't want what you bought, after 10 days, you are stuck with what you bought.


Take Dioxide's advice. If your debating about it then now is the time to rescind. Once the rescission period ends your stuck with it!

Check out this website so you can figure out how far your money can go:

www.vacationpointexchange.com



Make your own determination!


.
 
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MOXJO7282

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Just rent.
Exactly. The times you're referencing aren't super prime time so renting will cost you at most $500 beyond what you're annual maintenance would be. How many year's spending +$500 = $35k. 70 years.
 

cooper5114

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wow...this is one active site. I'm amazed and impressed. All i really do appreciate all your comments.

You are right. The sales guy did say that Marriott would buy the points back at 50% of the then current market value. But it was a soft commitment...kind of like they had the option / first right of refusal.

I know i need to research some and so these questions could be answered if i did that but i'll ask 'em anyway. I think i'd prefer not to own a specific property or be on the hook for 1500+/year if i can get (rent) those properties from others on this board. So let me ask...How feasible is it to rent 5 days from someone on this board a hot property like Park City in early January (on the web that 2BR suite is listed at 1100/night) or Ocean front in Hilton Head in July or August?

Here i'm thinking pay someone on this board vs. having a piece of property to trade/exchange.
 

dioxide45

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wow...this is one active site. I'm amazed and impressed. All i really do appreciate all your comments.

You are right. The sales guy did say that Marriott would buy the points back at 50% of the then current market value. But it was a soft commitment...kind of like they had the option / first right of refusal.
Dispite what the sales rep has said, MVCI has no official buyback program for Destinations Club points.

I know i need to research some and so these questions could be answered if i did that but i'll ask 'em anyway. I think i'd prefer not to own a specific property or be on the hook for 1500+/year if i can get (rent) those properties from others on this board. So let me ask...How feasible is it to rent 5 days from someone on this board a hot property like Park City in early January (on the web that 2BR suite is listed at 1100/night) or Ocean front in Hilton Head in July or August?

Here i'm thinking pay someone on this board vs. having a piece of property to trade/exchange.
Renting is easy, though if you are looking for prime time, you will pay for it. It isn't cheap. You can always rent points for $0.50 - $0.65 per point and have the owner make the reservation for you at the desired resort. Of course it is all based on availability, though booking trust points bought from Marriott is also based on availability.

Consider though that for $35K you could buy two pretty prime deeded resale weeks and have annual maintenance fees of not much more than you would be paying with the 3,500 trust points.
 

rpgriego

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YOu only have 10 days to rescind, but you have forever to then buy if you end up wanting to buy.
The best line is above! And it's true.

But, take this into account. Everyone is saying... rent the points, you'll get what you want. I think you should ask them to offer you a GUARANTEE that the points WILL ALWAYS BE .50 to .60 and available when you want them and in the quantity you want them. And if they can't GUARANTEE ask why.

As for not needing or buying a two bedroom... REALLY! How many posts are on this site highlight the LOVE OF SPACE! How many parents leave a MVC resort saying... once again, our kids and/or teens PREFERRED to share a room? Let's have them share at home!

How many other posts are about enjoying traveling with another bud(s), girlfriend(s), relatives, etc. in a ONE bedroom?

How many posts on here are expressing frustration at NOT getting what they want?

What I'm saying is take a step back and look at YOUR long-term dreams/realistic affordability and then compare a point purchase vs Marriott resale vs eBay vs timeshare broker vs private party vs standard status vs premiere status vs premiere plus status vs studio vs one bedroom vs two bedroom vs three bedroom.

Most of all, today you only list three resorts, but will you ever want to visit WDW, Hawaii, etc. I doubt you'll see posts advising you to skip these and other MVC destinations.

GOOD LUCK with your research!
 
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SMHarman

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The best line is above! And it's true.

As for not needing or buying a two bedroom... REALLY! How many posts are on this site highlight the LOVE OF SPACE! How many parents leave a MVC resort saying... once again, our kids and/or teens PREFERRED to share a room? Let's have them share at home!

How many other posts are about enjoying traveling with another bud(s), girlfriend(s), relatives, etc. in a ONE bedroom?

How many posts on here are expressing frustration at NOT getting what they want?

What I'm saying is take a step back and look at YOUR long-term dreams/realistic affordability and then compare a point purchase vs Marriott resale vs eBay vs timeshare broker vs private party vs standard status vs premiere status vs premiere plus status vs studio vs one bedroom vs two bedroom vs three bedroom.

Most of all, today you only list three resorts, but will you ever want to visit WDW, Hawaii, etc. I doubt you'll see posts advising you to skip these and other MVC destinations.

GOOD LUCK with your research!
Indeed, good advice.
35,000 out today with 1500MF increasing at 3%pa. 2% inflation and 5% investment return (say in a 401k) with 5k resale and a 10 year time horizon means you would be out of pocket 46,000 over those 10 years (purchase + todays value of MF - todays value of sale). If you had invested the $35k at 5% it would have earned (compounded) 22k. Thats $68k total.

So if you were to rent a week in a 2Br for $6800 a year for the next 10 years you would not be worse off. Ski weeks in winter, there are only about 16 of them a year so they are always quite pricey but planning ahead can get a good rate.

Good luck
 
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pwrshift

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1. Rescind today..DC points are a terrible deal.
2. Rent...don't buy.
3. If you do buy, make sure it's platinum from a reputable dealer on ebay, and be sure it's a place you'd enjoy using 3 out of 4 years and close enough to drive to.
4. Manor Club platinum is a good trader, close to you, gives you free rounds of golf, lots to do, and platinum weeks have sold for as little as $12.50 on eBay.

Brian
 

vacationtime1

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wow...this is one active site. I'm amazed and impressed. All i really do appreciate all your comments.

You are right. The sales guy did say that Marriott would buy the points back at 50% of the then current market value. But it was a soft commitment...kind of like they had the option / first right of refusal.

I know i need to research some and so these questions could be answered if i did that but i'll ask 'em anyway. I think i'd prefer not to own a specific property or be on the hook for 1500+/year if i can get (rent) those properties from others on this board. So let me ask...How feasible is it to rent 5 days from someone on this board a hot property like Park City in early January (on the web that 2BR suite is listed at 1100/night) or Ocean front in Hilton Head in July or August?

Here i'm thinking pay someone on this board vs. having a piece of property to trade/exchange.

Who told you that owners can easily use destination points to reserve these prime weeks? The sales staff? Probably. Should you believe it? Not necessarily.

What they didn't tell you is that these resorts are sold out and owned 95+% by weeks owners, not by the trust. So unless and until a weeks owner decides to trade that prime week and deposits it into Interval for trading, the trust has no access to it and trust owners cannot reserve it.

Take the advice of the others and rescind, rescind, rescind. Until you research the system and know how it really works -- what it does and what it doesn't do -- hold unto your $35K.
 

rpgriego

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Who told you that owners can easily use destination points to reserve these prime weeks? The sales staff? Probably. Should you believe it? Not necessarily.
I can personally testify to the fact that I have secured prime weeks at prime resorts with my DClub points. NOTE: my DClub status was Premiere and Premiere Plus and I called at 6A exactly 13-months out
 

cp73

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Rescind now;
You will feel like a fool and taken advantage of if you don't;
Take your time to research this in depth before you plunge any money into it!
There is no way it makes any financial sense to go forward with that deal!
 

jme

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You don't know how lucky you are to still have time to back out!

Whoa, for that money you will only have enough for ONE MEDIOCRE week per year----it won't even get a week at a prime resort in prime season. They're counting on your realizing that later and NEEDING to then purchase more points. For that same money you could buy 3, 4, maybe 5 resale high-end, high-season resort weeks in the Marriott system and go pretty much anywhere you want. It takes 4500-5500 points to do something really great for one week.

but who says you have to buy anything at all???

perhaps the best advice, just rent the time you want. You can rent points or weeks. don't really have to purchase anything.

but if you do, here's how, just for sake of explanation and comparison: With several deeded weeks you could occupy some, and convert any "lockout" weeks into double additional weeks, and then also thru trades acquire more bonus weeks. Or just occupy great weeks straight out. For instance, a platinum week at Newport Coast Villas may run $7K-$9K, a Grande Ocean platinum might be $10-12K, same for platinum Oceanwatch/Myrtle Beach, or a Maui Ocean Club might be $12+K.
Grand Chateau/Vegas will be far less but trades well, same for Manor Club----both lockouts if desired, and platinum weeks for both run about $500-3K, and some for almost nothing if you catch them right!!! Even Orlando's Grande Vista 3-BR L/O would be a great option for $6-8K, and 2-BR's are less. Not sure of my prices, but they're close, and give you the idea. So many possibilities. Rescind, watch ebay.

and rent a few times first.....truly, no rush.



.
 
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L

laurac260

I have 10 days to decide and even though i want this to work, i'm not sure it makes a ton of sense. I put down the deposit for 3500 points and it seems to me that i'm really getting something that i cannot easily get without joining. Maybe you folks can give me some insight.

I'm paying between 35K (memory) + 1500/year

I have 4 kids so we're almost always going to want to stay in the 2BR suite -- location w/in a facility is not important to us.

if i look at properties i'm most immediately interested in it seems to me that i can just rent those on the open market. Am i missing something -- i.e. can i get a reservation using my points that i cannot get via the marriott web site?

For example i'm looking at 3 properties
- Park City (mountainside) - 12/16/13 - 12/20/13 - 228/night =
- Williamsburg - 6/4/14 - 6/9/14 - is $215 and 256/night
- Hilton Head (grand ocean) - 6/2/14 - 6/6/15 - is around $500/night

If i used my points this is what it would cost me
- Park City - 1200 + 675 = 1875
- Williamsburg - 250 or 625 points/night
- Hilton head - 450 1125 points/night

Also are the 'get aways' that much cheaper than what's on the open market.

Thanks for any help you can provide. i need to decide if it's worth it to pay 1500 every year for something like this.
I don't fully understand the point system, don't use it, don't care to at this point. We own one week, Platinum Season at MGO and also have a friend who owns a condo down the street from there, so we can get our fill of HHI.

I would not pay 500$ a night EVER at MGO, because there is no need to. You can rent an oceanfront (meaning a high floor, full on ocean view) for no more than $3000 a week during prime time, and by that I mean, middle of July (the week you are referring to is just a bit softer than mid July). You can get an oceanside (or whatever they are calling it), for $2000 or possibly less a week in the middle of July.

There is no need to pay full boat for HHI (meaning, what Marriott thinks their weeks are worth). Redweek.com is your friend, my friend.

Frankly, the only advantage (for us) to owning over renting (and we bought resale), is just not having the "hassle" of shopping for a week every year. I'm not certain that is particularly worth it, but we own now, so it is what it is, I suppose. Again, we are not traders.
 

kjd

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A lot of the foregoing "advice" is correct and some of it can be wrong for you depending upon your circumstances and preferences. As others have said you're the one that has to evaluate what you want. That's true. But, it's not a simple numbers game as some would like to portray it.

I have purchased weeks both directly from Marriott and also in the resale market. My direct purchases were back in the day of large incentives and pre-construction pricing. If effect a lot of that cost was mitigated by taking European vacations with the point incentives. It also gave me the ability to prepay for vacations the rest of my life. It also gave me the right to have a home resort week that was deeded.

My resale purchases were done with the idea of accumulating additional weeks to trade or to use in places that I can drive to. I entered into all of these transactions expecting to lose most of my money but having a long term plan for vacations.

Had most of us not bought weeks, whether direct or resale, we probably would not have taken the vacations we did. It is a commitment. Additionally, I like being connected to a company and a system that recognizes loyalty. I like being a platinum member when I check in to a hotel or timeshare. I like having a vacation adviser and a concierge that can help me execute my plans. All advantages that renters or members of other timeshare systems may not have.

In other words, there are other considerations that go into any economic decision besides cost. The biggest one of course is "can I afford it?" In the OP's case it sounds as if the contract should be rescinded. You probably need to step back and learn more about timesharing and what your vacation priorities are. There will always be opportunities to buy.
 

MOXJO7282

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My take on the OP comments is he doesn't take 7 day vacations like many these days so he needs to either rent points or buy into the point system through Marriott.

I remember the days fondly when Marriott gave so many MR points with a direct purchase at the time it virtually negated any resales discount. That stopped at least from my recollection around 2005 or so because that is when I bought our last MOW and the points were already falling off to the highs in the early years.

Our first purchase was actually a Grand Vista gold in 2000 for which they gave us 4 coach tickets to Maui and 300k points. Traded to Maui, fell in love and "traded up" to a Maui 2BDRM for which they gave me full credit of the GV gold purchase price and 400k points for the Maui purchase.

Our 2nd Maui we got more than 500k, Aruba Surf 400k+ and MOW 400k+


By 2006/07 they were offering like 125k and the direct sales never made sense again.
 

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In other words, there are other considerations that go into any economic decision besides cost. The biggest one of course is "can I afford it?"
A ca$h purchase in the timeshare industry is VERY RARE. Have you seen the lending volume last reported by Starwood, Hyatt and MVW? The financing demand is so high they are charging a rate well above their COF. The return is so good that investors are buying the packaged loans with MVW maintaining loan servicing.

Some are quick to say, we paid ca$h and would never finance... but, they don't admit they used their HELOC or ca$h from their recent refi.

So a lot of buyers are saying, I can afford a monthly payment!
 
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