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Just Purchased 3500 Points in MVCI - Have Questions

NYFLTRAVELER

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First time time share purchaser, we just purchased 3500 points in the MVCI Destinations Program through MVCI after an Encore presentation (first presentation was 2012 and we visited again recently). Not planning on using their financing.

We are in the 10 day period of right to rescind. Putting the cost for the points aside for the moment ---- While on one hand I think this program will be a good thing for us, and with small children we have a resort type property as opposed to a one room run of the mill hotel room and the program allowing us to explore places we would not generally travel to, I am also having second thoughts as I am unsure what this does for me as opposed to just putting together an annual trip. We do not want to buy a week at a certain resort and be attached to that property or have difficulties trading that. I do like the flexibility of going wherever we'd like.

I would be interested in feedback and comments from other owners who bought into this program as their first foray into time share ownership....... is this program for you or do you regret it?

I cannot get past the concept of paying so much money for the points PLUS paying annual maintenance fees on top of that when we can stay at a Marriott property for 5 or so days for +/- the cost of the maintenance fees..... That is what is troubling me most. What is the benefit of being part of the "club"?

As a second question, how difficult is it to convert these points into the II program to obtain a stay at a high level non-Marriott resort such as one in the Hyatt system (I have no interest staying at a property which is not at least MVCI level).

I have many other questions as well if you all don't mind if we stick this out.

Thank you in advance and I look forward to corresponding with you.
 
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MALC9990

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First time time share purchaser, we just purchased 3500 points in the MVCI Destinations Program through MVCI after an Encore presentation (first presentation was 2012 and we visited again recently).

We are in the 10 day period of right to rescind. Putting the cost for the points aside for the moment ---- While on one hand I think this program will be a good thing for us, allowing us to explore places we would not generally travel to, I am also having second thoughts as I am unsure what this does for me as opposed to just putting together an annual trip.

I would be interested in feedback and comments from other owners who bought into this program as their first foray into time share ownership....... is this program for you or do you regret it?

I cannot get past the concept of paying so much money for the points PLUS paying annual maintenance fees on top of that when we can stay at a Marriott property for 5 or so days for +/- the cost of the maintenance fees..... That is what is troubling me most.

As a second question, how difficult is it to convert these points into the II program to obtain a stay at a high level non-Marriott resort such as one in the Hyatt system (I have no interest staying at a property which is not at least MVCI level).

I have many other questions as well if you all don't mind.

Thank you in advance and I look forward to corresponding with you.
Having these questions is in itself enough to tell you that you should rescind this purchase immediately and then do your research here and then and only then decide what you should do about buying into a TS system.

So rescind now and do the research.
 

BocaBoy

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First time time share purchaser, we just purchased 3500 points in the MVCI Destinations Program through MVCI after an Encore presentation (first presentation was 2012 and we visited again recently).

We are in the 10 day period of right to rescind. Putting the cost for the points aside for the moment ---- While on one hand I think this program will be a good thing for us, allowing us to explore places we would not generally travel to, I am also having second thoughts as I am unsure what this does for me as opposed to just putting together an annual trip.

I would be interested in feedback and comments from other owners who bought into this program as their first foray into time share ownership....... is this program for you or do you regret it?

I cannot get past the concept of paying so much money for the points PLUS paying annual maintenance fees on top of that when we can stay at a Marriott property for 5 or so days for +/- the cost of the maintenance fees..... That is what is troubling me most.

As a second question, how difficult is it to convert these points into the II program to obtain a stay at a high level non-Marriott resort such as one in the Hyatt system (I have no interest staying at a property which is not at least MVCI level).

I have many other questions as well if you all don't mind.

Thank you in advance and I look forward to corresponding with you.
You have identified the big problem with purchasing points--they are extremely expensive. Most people here on TUG (myself included) will counsel you to rescind because we cannot justify the cost outlay. Most of us own weeks which can be converted to points on an annual basis because they were purchased before the introduction of the Destinations program. You might be better off looking for a resale week and buy that, even though a week purchased today would not be eligible to be converted to points. You would be able to use such a week or trade it through interval International. You could also purchase Getaways at favorable prices from interval. This approach is economically very attractive.
 

jimf41

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If you decide not to rescind you have to you have to understand that 3500 points will get you a decent week but not a great week. You'll have to buy 1500 more points to get a great week. It comes down to your age, your income, the number of people you travel with and the time of year you want to travel.

If you don't fully understand exactly what 3500 points will get you then I recommend that you rescind and do some homework before plunking down the cash required for 3500 trust points.

Buying resale is cheaper but it comes with it's own problems. You can't convert the week to points so if you want o go somewhere else you have two options. Rent and use the proceeds to to rent somewhere else of trade with II and try to get a week where and when you want to travel. Both options are more complicated than just using your points to reserve a week.

If you are brand new to timesharing you won't really understand the pro's and con's of any of this.

Rescind, do your homework and come back and choose a method that is best for you.
 

burg1121

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Rent Rent Rent Then buy somewhere you really liked on resale market or just keep renting.
 

iluvfla

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Give it back !!!! There is a lot to learn before buying a timeshare, I wish I knew about this website before I bought my first timeshare for 24000, then my second week cost me only 3000!!!!! Thanks to tug !!!!!
 

jont

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Welcome to TUG, you have come to the right place, a little late but better late than never. I agree with the others, if you don't fully understand what you bought you should rescind. Do your research and then make an informed decision. You may find that buying a resale unit at a place you really would like to go most years works best or you may find that renting is the way to go. Whatever, there is never a rush to buy. Take your time and figure out what works best for you. We are here to help you. Good luck. ;)
 

Saintsfanfl

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If you add up all the costs and do the math, it is cheaper to just book what you want on Marriott.com. It's cheaper AND you don't have to prepay AND you can cancel up to 3 days before check-in. The break-even point is literally decades down the road and after you figure interest and/or opportunity cost break-even will likely never happen.

Buying points retail makes zero sense whatsoever.
 

gmarine

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Rescind ASAP.
 

dioxide45

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You found out what the problem is with trust points, they are not a great value over just renting on your own. In the past, MVCI was able to sell the prepaid vacation". However, when the moved in to the DC points era that all changed.

The cheapest I beleive you can buy 3,500 trust points for is $9.80pp without incentives. I don't know if they offer that to non-owners, but I think they would to make the sale.

$9.80 x 3,500 = $35,300

Annual Maintenance Fees are $0.437pp. There is also a $175 annual DC fee.

($0.437 x 3,500) +$175 = $1,704.50 per year

For $1705 you can get a pretty good hotel room for seven nights a year. That without the upfront $35K. Now of course a Marriott timeshare is far different than a cramped hotel room. But for about $1000 (if that) more you can rent a great Marriott timeshare from an owner. That would mean it would take 35 years to break even.

As saintsfanfl indicated, if you are financing the timeshare then you will likely never break even. If you count in the interest you could have earned on the $35,000, then you won't break even. Heck, you could use the interest on the $35,000 plus the annual MFs to rent a great week at a great resort in prime season.

Now, if you have no concerns about money and want flexibility and ease of use, then points are a great tool to take great vacations.
 

NYFLTRAVELER

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Thank you. Certainly taking your comments into consideration.

I do like the concept of being able to travel to various Marriott (and similar level) resorts and have the use of the grounds and larger accommodations.

I would not want to purchase a set week at a specific resort and be attached to that resort or be reliant on depositing it to the pool and relying on being able/not being able to trade it in for another week someplace else. The whole theory behind purchasing via the Destinations Club was the flexibility of going to various locations during different times of the year (we have young children) banking points for a longer trip in the future and/or renting out nights.

I am going to scour these boards to see what you all say pro and con about the program in general (have not seen many pro's yet) and then make a decision before the end of the week.

Thank you again.

SBD
 

puckmanfl

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good morning

NYFL traveler....

remember that points are just a currency for occupancy. Trust resorts, you do have direct access (depending on availability) however, 2/3 of the system (Legacy weeks) are already owned by owners like us, even with points, you would still be "exchanging". I am willing to bet that the sales rep did not explain this to you. I bet he/she said something like this... Go where you want, when you want!!! Everything in timesharing is dependent on availability!!!
 

NYFLTRAVELER

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good morning

NYFL traveler....

remember that points are just a currency for occupancy. Trust resorts, you do have direct access (depending on availability) however, 2/3 of the system (Legacy weeks) are already owned by owners like us, even with points, you would still be "exchanging". I am willing to bet that the sales rep did not explain this to you. I bet he/she said something like this... Go where you want, when you want!!! Everything in timesharing is dependent on availability!!!
Yes, they explained go where you want when you want but you would need to book early to have a chance to get in.

For example, if I were to buy a week at a specific resort instead via a resale, let's say the last week of August at Newport, what can I legitimately do with it as we certainly do not want to go out to the same place year after year but may, for example, wish to travel in a February to Colorado or the Caribbean.

I look at it this way, the average cost of a 1 week trip at a nice hotel/resort is probably $3,000-$4,500. We have young children. In 8 or so years individual trips would = the approx. $25k price. Then from that point forward the cost of a trip would be primarily the maintenance fees. Am I right to use this mindset?
 

FlyerBobcat

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I look at it this way, the average cost of a 1 week trip at a nice hotel/resort is probably $3,000-$4,500. We have young children. In 8 or so years individual trips would = the approx. $25k price. Then from that point forward the cost of a trip would be primarily the maintenance fees. Am I right to use this mindset?
Will the 3,500 points get you something that realistically equates to a $3,000 - $4,500 per week stay on a regular basis? (I kinda' doubt it, but there are MUCH better experts on the topic here....)

Also... what about MFs during those first 8 weeks you mention?
 

indyhorizons

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The only thing I would add to this discussion is it appears your assumption is you would be purchasing a fixed week. Very few of the weeks sold are/were fixed weeks (in the overall scheme of things). Most weeks you will find on the resale market will be floating- which means you could reserve during any week of the season you purchase. Whatever resort you would choose, I would recommend that you purchase platinum if you decdide to purchase a resale week. I also believe that there are some resale weeks that will always have prime exchange capabilities, for example most platinum 3 bedrooms seem to command high exchange priority preference. I vote for rescinding and taking your time to do research. This is a friendly bunch of folks who you can/will learn a great deal from. You're asking some great questions.
 

dioxide45

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I look at it this way, the average cost of a 1 week trip at a nice hotel/resort is probably $3,000-$4,500. We have young children. In 8 or so years individual trips would = the approx. $25k price. Then from that point forward the cost of a trip would be primarily the maintenance fees. Am I right to use this mindset?
I always had to laugh years ago when a sale rep would ask us how much we were spending on the vacation. Probably about $3000. He would say, wouldn't you be better to put that in to buying a week at a resort and prepay for the vacation? While true, perhaps only about $1000 of that $3000 was for the lodging. I don't think buying timeshare was going to pay for my food, rental car, airfare and entertainment too.

I would agree with FlyerBobcat. Take a look at the points chart to see what 3,500 points will get you. You will likely find that it will be tough to get 7 nights at a premier resort in peak season. Though if you can travel Sun-Thur nights (five nights), you will probably do okay. Though, then you have to consider you are only getting five nights a year instead of seven.
 

puckmanfl

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good morning....

NYFL traveler.... go on the points chart and see what 3500 points gets you???

go on redweek.com to check out rental rates....
 

jont

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I would suggest that if you do decide to buy points from Marriott that you buy the smallest package available which I believe is 1000 points and then rent the rest of the points you need. Greg T has sent up a great website for renting points. The initial startup cost would be less but it would still allow you to play the points game. You could rent the additional points you need at 50 -65 cents per point vs 45 cents per year Mf without the big initial capital outlay. Something to consider.
 

FractionalTraveler

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Here are some good benefits for your 3500 Points purchase:

1. Ability to rent more points from other owners at a reduced cost. You can't do this unless your an owner enrolled in the DC.
2. Flexibility to book and confirm a reservation like a hotel room by the day at any MVCI resort in any season desired. You can't do this as a resale owner who buys in today's marketplace.
3. Ability to use your points for other types of vacation experiences.
4. Automatic enrollment in the MVCI DC.
5. Rent from MVCI at 25% discount for being an owner.
6. Trade for MR points if so desired (not a good value)
7. Rent out your points for cash if desired

Many folks take an ALL or NOTHING approach to vacationing using timeshares as the only vehicle to achieve their goals thus they will always recommend to "Rescind" immediately.

If this is merely one way you plan on vacationing then it may be a good fit with your particular lifestyle choices.

The Marriott Program is not the only way to travel or vacation each year but IMHO it does offer quite a few good opportunities to do so.

As others have suggested, this site can help you understand the program better.

Good luck.

FT
 

dioxide45

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Many folks take an ALL or NOTHING approach to vacationing using timeshares as the only vehicle to achieve their goals thus they will always recommend to "Rescind" immediately.
I think the Rescind immediately advice is never bad advice. It doesn't cost you anything. A week is not nearly enough time to to the research on what is a major financial transaction.

You can always go back to Marriott later and buy the same points, though prices may have gone up a few cents per point. However, rescinding removes the pressure to research NOW and make a quick decision that you may regret later. Rescind and take the time needed to learn about the program and know if it is right program to buy in to for one's family.
 

FractionalTraveler

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I think the Rescind immediately advice is never bad advice. It doesn't cost you anything. A week is not nearly enough time to to the research on what is a major financial transaction.

You can always go back to Marriott later and buy the same points, though prices may have gone up a few cents per point. However, rescinding removes the pressure to research NOW and make a quick decision that you may regret later. Rescind and take the time needed to learn about the program and know if it is right program to buy in to for one's family.
You make a good point, I agree its a good idea to take your time with such a lifestyle purchase.

I would not agree if the justification is just because the purchase is retail.

FT
 

rovitm

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Good morning NYFLTRAVELER,

You will receive good advice on this site and welcome. I was new to timeshares before I joined and I am glad I did. Without joining I was about to buy directly from Marriott but instead I learned the system, bought resale and saved a lot of money.

I was recently at a presentation and the big selling point for the sales team was the World Traveler Collection. It looks good when you are thinking about going to great places until you find out the point retirements are for only two people and for a family of four you will have to pay out of pocket. It is a lot of money. I agree and think you should rescind and do some research.



First time time share purchaser, we just purchased 3500 points in the MVCI Destinations Program through MVCI after an Encore presentation (first presentation was 2012 and we visited again recently). Not planning on using their financing.

We are in the 10 day period of right to rescind. Putting the cost for the points aside for the moment ---- While on one hand I think this program will be a good thing for us, and with small children we have a resort type property as opposed to a one room run of the mill hotel room and the program allowing us to explore places we would not generally travel to, I am also having second thoughts as I am unsure what this does for me as opposed to just putting together an annual trip. We do not want to buy a week at a certain resort and be attached to that property or have difficulties trading that. I do like the flexibility of going wherever we'd like.

I would be interested in feedback and comments from other owners who bought into this program as their first foray into time share ownership....... is this program for you or do you regret it?

I cannot get past the concept of paying so much money for the points PLUS paying annual maintenance fees on top of that when we can stay at a Marriott property for 5 or so days for +/- the cost of the maintenance fees..... That is what is troubling me most. What is the benefit of being part of the "club"?

As a second question, how difficult is it to convert these points into the II program to obtain a stay at a high level non-Marriott resort such as one in the Hyatt system (I have no interest staying at a property which is not at least MVCI level).

I have many other questions as well if you all don't mind if we stick this out.

Thank you in advance and I look forward to corresponding with you.
 

jme

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Yes, they explained go where you want when you want but you would need to book early to have a chance to get in.

For example, if I were to buy a week at a specific resort instead via a resale, let's say the last week of August at Newport, what can I legitimately do with it as we certainly do not want to go out to the same place year after year but may, for example, wish to travel in a February to Colorado or the Caribbean.

I look at it this way, the average cost of a 1 week trip at a nice hotel/resort is probably $3,000-$4,500. We have young children. In 8 or so years individual trips would = the approx. $25k price. Then from that point forward the cost of a trip would be primarily the maintenance fees. Am I right to use this mindset?
yes, but...you didn't get what you thought you got!

Ditto, ditto, ditto on what everybody else has said!!!!!!!!!

Bottom line: 3500 points won't get you what you want....i.e., Colorado or Caribbean in Feb., or even a good beach location in summer... not once!!!

It might get you there in Spring or Fall, & 2 weeks in summer. but 3500 points is a "mediocre" week somewhere. Get hold of a points chart and look at what you can get. i'll bet you've never seen a chart. To get what you want, you need 5000-6000+ points. They force you to buy MORE later.

You've also paid a premium in money already, and you'll have exorbitant annual maintenance fees, and for what? Rescind and research. There are wise people here...don't feel remorse for what you did, just back out and learn. We've all learned the hard way already, that's why we advise you to do research first. You'll shake your head in disbelief at what you almost did.

BUT, if you have disposable income (hey, there are some who qualify), then proceed, but double or triple your purchase...only then will you live the life you thought you already bought.
 

BocaBoy

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If you decide not to rescind you have to you have to understand that 3500 points will get you a decent week but not a great week. You'll have to buy 1500 more points to get a great week.
I agree with the rescind advice and also with this bolded language IF there is agreement on what is a great week. What is a great week for some is a bad week for others. For example, I would never want to go to Hilton Head in the hot summer which is the high season that most consider a great week. 3500 points would get you multiple weeks there at the time of year I would consider prime for me personally. The key thing is to know and like what you can get for 3500 points, so doing your homework is key.
 
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