Just bought retail and am planning to rescind, first I have a few questions.

[Stewcation]

In 2023 my wife and I stayed at the Hilton Grand Vacations Club SeaWorld Orlando and in that sales presentation didn't feel good about buying a timeshare but we did buy their $1600 package that included around 11,000 one-time points. We just used some of those points to stay at a different resort and in this sales presentation the salesman essentially lied to us about multiple things and convinced us to buy a 8000 Biennial point package (i.e. 4000 points per year) in the "US Collection" trust for about $17,000 total with about $1,200 yearly for maintenance and club dues. It seemed like a reasonable deal due to some of the misleading claims that the salesman told us combined with the fact that they would sell us points at our original 2023 price frozen rate of around $4 per point instead of the current rate of $6 per point so we signed, but after research I am probably going to rescind that contract and am considering buying an HGVC deed through resale. First I have a few questions:

1. The "US Collection" trust which they sold us is a Hilton Vacation Club (HVC, rebranded Diamond Resort) club contract, NOT a Hilton GRAND Vacation Club (HGVC) contract, right? If so, is there any resale value to these HVC trust-style contracts? On resale sites I only find HGVC deed-style contracts for sale.
2. My contract grants access to huge discount deals for reservations at certain resorts that are within 59 days. These discounts looked to be 60% to 75% off and were a big selling point for us to get more out of our measly point package. Is such a feature available if I buy a HGVC resale deed?
3. If I buy an HGVC resale deed, is there a penalty or fee for using my points at a different resort than the one I have the deed for?
4. My contract allows 1 stay per year that I can allow guests to use a reservation without me being there. If I buy an HGVC resale deed, can I allow guests to use my reservations without me being there?
5. If I buy an HGVC resale deed will I have access to a website that I can use to reserve stays at HGVC resorts, or do I have to use some horrible phone line and be treated like a 2nd class customer?
6. The salesman said that the trust's maintenance fees are set up as non-for-profit, is that true for HGVC deed maintenance fees as well? With HGVC deeds is there any guarantee that in 10 years the maintenance fees won't have skyrocketed to an unreasonable level?
7. If I buy an HGVC resale deed it sounds like I will get access to RCI which I am not very familiar with. Is this RCI the only way I could use my HGVC points to stay at HVC properties? Does RCI give a good trade in value on HGVC points?

Thanks!

PS. A few of the misleading things the salesman did: 1) he didn't mention that all the HGVC locations weren't part of the "US Collection" trust that we were buying into and that we would only have 6 months reservation access to those though HGV Max, 2) he said that points were the same for all resorts but that doesn't seem to apply to HGVC locations, 3) when I asked about HGVC timeshares he said that they were traditional-style timeshares which only let you use your deeded week at your home resort and didn't mention that you could use your points at other resorts instead, 4) when I mentioned that I see a lot of Hilton timeshares being given away for free he said that those were the "old style" timeshares and that what we were buying should have decent resale value even though it sounds like these types of contracts are being given away for free by tons of people trying to get out of them, etc...

 

[dayooper]

In 2023 my wife and I stayed at the Hilton Grand Vacations Club SeaWorld Orlando and in that sales presentation didn't feel good about buying a timeshare but we did buy their $1600 package that included around 11,000 one-time points. We just used some of those points to stay at a different resort and in this sales presentation the salesman essentially lied to us about multiple things and convinced us to buy a 8000 Biennial point package (i.e. 4000 points per year) in the "US Collection" trust for about $17,000 total with about $1,200 yearly for maintenance and club dues. It seemed like a reasonable deal due to some of the misleading claims that the salesman told us combined with the fact that they would sell us points at our original 2023 price frozen rate of around $4 per point instead of the current rate of $6 per point so we signed, but after research I am probably going to rescind that contract and am considering buying an HGVC deed through resale. First I have a few questions:

1. The "US Collection" trust which they sold us is a Hilton Vacation Club (HVC, rebranded Diamond Resort) club contract, NOT a Hilton GRAND Vacation Club (HGVC) contract, right? If so, is there any resale value to these HVC trust-style contracts? On resale sites I only find HGVC deed-style contracts for sale.
2. My contract grants access to huge discount deals for reservations at certain resorts that are within 59 days. These discounts looked to be 60% to 75% off and were a big selling point for us to get more out of our measly point package. Is such a feature available if I buy a HGVC resale deed?
3. If I buy an HGVC resale deed, is there a penalty or fee for using my points at a different resort than the one I have the deed for?
4. My contract allows 1 stay per year that I can allow guests to use a reservation without me being there. If I buy an HGVC resale deed, can I allow guests to use my reservations without me being there?
5. If I buy an HGVC resale deed will I have access to a website that I can use to reserve stays at HGVC resorts, or do I have to use some horrible phone line and be treated like a 2nd class customer?
6. The salesman said that the trust's maintenance fees are set up as non-for-profit, is that true for HGVC deed maintenance fees as well? With HGVC deeds is there any guarantee that in 10 years the maintenance fees won't have skyrocketed to an unreasonable level?
7. If I buy an HGVC resale deed it sounds like I will get access to RCI which I am not very familiar with. Is this RCI the only way I could use my HGVC points to stay at HVC properties? Does RCI give a good trade in value on HGVC points?

Thanks!

PS. A few of the misleading things the salesman did: 1) he didn't mention that all the HGVC locations weren't part of the "US Collection" trust that we were buying into and that we would only have 6 months reservation access to those though HGV Max, 2) he said that points were the same for all resorts but that doesn't seem to apply to HGVC locations, 3) when I asked about HGVC timeshares he said that they were traditional-style timeshares which only let you use your deeded week at your home resort and didn't mention that you could use your points at other resorts instead, 4) when I mentioned that I see a lot of Hilton timeshares being given away for free he said that those were the "old style" timeshares and that what we were buying should have decent resale value even though it sounds like these types of contracts are being given away for free by tons of people trying to get out of them, etc...

Some answers to your questions:

1. Very little. The HVC trust points would be very hard to get rid of. There are heavy restrictions on resale trust points. Almost all HVC contracts are given away and need some added incentive to get people to take them.
2. Not really. HGVC has open season where you can purchase reservations at 30 days. I believe the HVC deals you are talking about are only available to retail purchases, but I could be wrong on that.
3. On HGVC resale deeds, you have to pay a booking fee of $69 (this year). Otherwise you can use your resale points with no penalties or restrictions.
4. Yes, for a fee.
5. No. You have full access to the website. In fact, except for the sales department, I am treated just like any other owner and I am full resale.
6. If you buy with intention, you will have way lower MF’s than the HVC trust points. Trust MF’s are based off of all MF’s in all resorts in all seasons. Deeds only pay way they own. By owning platinum season, you get the best MF’s at the resorts. By selecting a resort with low MF’s, you get the best MF deals.
7. Buying HGVC for use in RCI is not a good use of points. Not only is there a large booking fee, but you would pay reform fees at HVC (and HGVC) resorts. One way you can get around that is by purchasing resale at Craigendarroch Lodges and use DEX.

Hope this helps!

 

[Stewcation]

Some answers to your questions:

1. Very little. The HVC trust points would be very hard to get rid of. There are heavy restrictions on resale trust points. Almost all HVC contracts are given away and need some added incentive to get people to take them.
2. Not really. HGVC has open season where you can purchase reservations at 30 days. I believe the HVC deals you are talking about are only available to retail purchases, but I could be wrong on that.
3. On HGVC resale deeds, you have to pay a booking fee of $69 (this year). Otherwise you can use your resale points with no penalties or restrictions.
4. Yes, for a fee.
5. No. You have full access to the website. In fact, except for the sales department, I am treated just like any other owner and I am full resale.
6. If you buy with intention, you will have way lower MF’s than the HVC trust points. Trust MF’s are based off of all MF’s in all resorts in all seasons. Deeds only pay way they own. By owning platinum season, you get the best MF’s at the resorts. By selecting a resort with low MF’s, you get the best MF deals.
7. Buying HGVC for use in RCI is not a good use of points. Not only is there a large booking fee, but you would pay reform fees at HVC (and HGVC) resorts. One way you can get around that is by purchasing resale at Craigendarroch Lodges and use DEX.

Hope this helps!

That is extremely helpful! A few more questions on what you stated:

2. Can you explain more about HGVC Open Season? In my quick search on open season I'm finding results which mention HGV Max which would not apply to resale I believe.
3. If I'm understanding, to use HGVC points at a non-home property it just has a $69 booking fee per stay and there is no booking fee to stay at your home property, correct?
4. Is this guest fee variable? Is this fee effectively a way for HGVC deed owners to sell individual stays using their points?
6. In a short search I found HGVC deeds with maintenance fees (excluding club dues) from $0.09 per point at the lowest with lots more from $0.10-$0.13 which are great compared to my contract maintenance fee which is about $0.23 per point. Does that $0.09-$0.13 maintenance fee per point range sound about right for desirable deeds?

Thanks!

 

[TUGBrian]

wow, you dodged a bullet for sure! congrats on saving 17k!

absolutely would suggest looking at HILTON GRAND VACATIONS CLUB resale....not hvc/diamond!

 

[Stewcation]

wow, you dodged a bullet for sure! congrats on saving 17k!

absolutely would suggest looking at HILTON GRAND VACATIONS CLUB resale....not hvc/diamond!

Thank you!

 

[Mr.G]

That is extremely helpful! A few more questions on what you stated:

2. Can you explain more about HGVC Open Season? In my quick search on open season I'm finding results which mention HGV Max which would not apply to resale I believe.

open season is a standard benefit for HGVC owners. You pay cash to stay(30 days out). But it has very limited availability and room choices. I would choose RCI last call which give me $300/week.

3. If I'm understanding, to use HGVC points at a non-home property it just has a $69 booking fee per stay and there is no booking fee to stay at your home property, correct?

There is, booking fee applies to club bookings. Unless you book your home week then it is free.

4. Is this guest fee variable? Is this fee effectively a way for HGVC deed owners to sell individual stays using their points?

Fixed fee of $69. You are only allowed to rent out home week, not any club bookings

6. In a short search I found HGVC deeds with maintenance fees (excluding club dues) from $0.09 per point at the lowest with lots more from $0.10-$0.13 which are great compared to my contract maintenance fee which is about $0.23 per point. Does that $0.09-$0.13 maintenance fee per point range sound about right for desirable deeds?

Thanks!

Anything below 0.1 is good. You can find even 0.06 ones but premium is high

 

[sue1947]

so we signed, but after research I am probably going to rescind that contract and am considering buying an HGVC deed through resale. First I have a few questions:

No probably about it, no first ask questions, go straight to rescinding. You only have a few days to rescind and a long time to ask questions. Get rid of this albatross pronto. Then take your time and research what you really want. Maybe that will be HGVC, or maybe you will find Marriott is a better fit or some other system. First rescind, then sort out the rest.

 

[Stewcation]

open season is a standard benefit for HGVC owners. You pay cash to stay(30 days out). But it has very limited availability and room choices. I would choose RCI last call which give me $300/week.

There is, booking fee applies to club bookings. Unless you book your home week then it is free.

Fixed fee of $69. You are only allowed to rent out home week, not any club bookings

Anything below 0.1 is good. You can find even 0.06 ones but premium is high

Great information, thanks. I see some deeds with a listed week and others marked as floating deeds so I'll have to look more into those and how they affect booking fees and renting.

No probably about it, no first ask questions, go straight to rescinding. You only have a few days to rescind and a long time to ask questions. Get rid of this albatross pronto. Then take your time and research what you really want. Maybe that will be HGVC, or maybe you will find Marriott is a better fit or some other system. First rescind, then sort out the rest.

You're right, I'm reading into what I need to do to rescind and will do that as quickly as possible.

 

[GT75]

but after research I am probably going to rescind that contract and am considering buying an HGVC deed through resale. First I have a few questions:

My suggestion to you is to rescind now and then research (but take your time researching because there isn't a rush). IMO, HGVC is one of the better (maybe even best, but that is up for debate) resale TS systems to own. Resale owners will get almost all of the same benefits as retail owners (you won't get HgvMax and won't qualify for Elite levels unless you purchase from an HGVC resale agent such as in Scotland at Craigendarroch). @dayooper has already answered all of your questions. IMO, I wouldn't purchase into HVC trust points. That will be a very hard purchase to ever get rid of.

 

[Stewcation]

My suggestion to you is to rescind now and then research (but take your time researching because there isn't a rush). IMO, HGVC is one of the better (maybe even best, but that is up for debate) resale TS systems to own. Resale owners will get almost all of the same benefits as retail owners (you won't get HgvMax and won't qualify for Elite levels unless you purchase from an HGVC resale agent such as in Scotland at Craigendarroch). @dayooper has already answered all of your questions. IMO, I wouldn't purchase into HVC trust points. That will be a very hard purchase to ever get rid of.

For sure, I'll get to the post office on Monday to send the rescission letter and I'm looking more into the resale systems.

 

[heitmullerj02]

Both of my HGVC are resale and were bargains compared to your offer. Look at EBay also for resale, the closing costs can be higher but the deeded week cost is usually lower. HGVC is very friendly to resale owners, your book your home week depending on season you purchase. Open season is 9 months and yes I have gotten HI with my points trade.

 

[GT75]

Open season is 9 months and yes I have gotten HI with my points trade.

You meant club season is 9 months before check-out date. Open season (OS) is within 30 days.

 

[heitmullerj02]

Yes, sorry