Just bought HGV - did I get a good deal?

[kttravel]

I am brand new to this. I love to vacation. But I'm definitely a "yes man" and have a hard time saying no. I am a single mom and I recently booked my first vacation alone with my 2 little kids (2&6). Their dad passed and I don't want them growing up thinking they can't go on vacation without a dad. My goal is one vacation every, or ever-other, year. Hawaii and Europe.

I also love finding good deals. I booked my trip so last minute that the hotel room was only $276 at Waikaloa Village.

I went to the timeshare presentation. I didn't think I was going to buy, but they made it seem like I was getting a good deal. The main thing that sold me was the "open season" prices since I like to book last minute. They also made it seem like the home base unit didn't matter, and said that I was just paying for points, aka a week in a studio anywhere every-other year.

Also, the presenter showed me the 2 bedroom ocean view room with kitchen and washer/dryer and said the price per night for HGV members was only $250.

Here's what I bought:
Deed
Ocean Tower - Studio (type 1-studio reg)
3,840 points every other year
Gold Season
Biennial unit week (7-night) - odd numbered year
Purchase price $14,450
Closing costs $850
Total purchase price = $15,300

Maintenance fees $1,128
Annual club dues $313

Bonus points 15,000

Did I get a good deal, or did I get ripped off? Should I just have gone with the hotel rewards points instead... I'm still in escrow lol. Please help!

TIA

 

[RX8]

Rescind while you can. What they sold you is the bottom of the barrel as far as number of points goes. You are essentially paying $15K for something that not only is worthless if you ever decide to sell but would also most likely require you to have to pay someone to take off your hands. And, despite what the sales person may have told you, even Hilton would not want this deed back even if you offered to give it to them for free. That right there is your answer as to whether or not you got ripped off.

Buying resale, for that same $15K you could buy an annual resale deed with about six times more annual points PLUS have $10K left over in your pocket to pay for many years of maintenance fees.

With resale, you don’t get Max but many will tell you it isn’t worth the cost. You will however, have access to the same open season.

Take your time, join TUG, read posts, ask questions and only then will you be able to make an educated decision that will ensure that you and your family will get the most out of your purchase. It took me well over a year on TUG before I purchased a timeshare.

 

[kttravel]

Rescind while you can. What they sold you is the bottom of the barrel as far as number of points goes. You are essentially paying $15K for something that not only is worthless if you ever decide to sell but would also most likely require you to have to pay someone to take off your hands.

Buying resale, for that same $15K you could buy an annual resale deed with about six times more annual points PLUS have $10K left over in your pocket to pay for many years of maintenance fees.

With resale, you don’t get Max but many will tell you it isn’t worth the cost. You will however, have access to the same open season

Take your time, join TUG, read posts, ask questions and only then will you be able to make an educated decision that will ensure that you and your family will get the most out of your purchase.

Thank you for taking the time to respond. It's just me and the kids, so I really was feeling uneasy about my decision. Today is my last day to cancel!

Apologies - I am brand new to this. If I buy resale, can I still participate in the discounted HGV member pricing and credit card rewards points?

 

[RX8]

Be sure to follow the rescission instructions as outlined in the contract. You can hand write a simple letter stating that you are rescinding the contract. Include the contract number, if on the contract. Also include your name and address and sign and date the letter. Mail USPS with return receipt and save the mailing receipt you get from the post office. The date you mailed is the legal rescission date, not the date they receive it. Your receipt from the post office is your proof. Lastly, don’t call, or answer their calls. They will only try to keep you from rescinding. They may sweeten the offer but nothing will make this a good deal. Hilton is an honorable company and they will process the rescission even if they don’t talk to you. They do it because they are legally bound to do so.

Yes, you get discounted open season rates and credit card reward points with resale.

Edit for clarity regarding credit card reward points: If you mean using a Hilton credit card at the resort during your stay, then yes as resale is treated no differently. If you mean using a Hilton credit card for the purchase price, the answer is likely no.

 

[kttravel]

thank you so much I really appreciate it!

I want to buy resale. Hotel and airbnb prices are insane and I'd like to travel once a year. Thanks again.

 

[Snazzylass]

Girl, you came to the right place! And, you are on the right track. Hope you have already submitted your letter to rescind. Take care of that now! Then come back here and study and get educated

So sorry about your loss My boys were younger than that, but are grown and married and doing great! We all have enjoyed many happy years of traveling.

 

[GT75]

Please rescind because that "deal" is terrible. First off, you will have a very hard time getting rid of the deed because no one will want to take it even for free. Secondly, if you want to travel ever year, you certainly can not do it with that purchase. Thirdly, you really need to purchase more points. Fourthly, those MFs are too high for the number of points that you are getting. I think that HGVC is a great system but buy resale. It will save you a lot of money without losing any benefits.

I also wouldn't purchase any TS unless you want to plan early and book when the booking windows open. For HGVC, this is typically 9-month mark. This will give you the best availability.

I also wouldn't suggest purchasing HGVC if you plan to mainly use OS. I view OS as a side benefit which I find to not be worth it and doesn't have the availability either. Here is the 2025 OS rate for HI (who knows what the salesperson showed you):

 

[dioxide45]

The problem you might have with rescinding/cancelling is that today is a US Federal Holiday and there may not be a way to get your rescission letter postmarked. Read through the contract carefully. Is there also an email or fax option? If so, use that. Don't delay. You only have this one chance to legally and so easily cancel your purchase.

 

[brp]

The problem you might have with rescinding/cancelling is that today is a US Federal Holiday and there may not be a way to get your rescission letter postmarked. Read through the contract carefully. Is there also an email or fax option? If so, use that. Don't delay. You only have this one chance to legally and so easily cancel your purchase.

If the USPS is closed, maybe try a UPS Store or similar. It may cost more than the USPS, but they have certified delivery options as well that would certainly satiusfy the rules. This has to be done today, it seems.

Cheers.

 

[CalGalTraveler]

USPS Machines in Post Offices might work to get a timestamp.

 

[Shiba]

What about a contract postal unit. We use to have an independent store in town that offered USPS services. If you have one near you it's worth a call to see if they can postmark.

 

[geist1223]

Also at many major airports there are USPS Offices open 7 days per week 24 hours a day.