Just purchased HGVC; I have ???

[jessicaras]

We did the marketing package stay of 4 nights 5 days and had to listen to the presentation. We purchased 5500 points, into perpetuity. I see a lot of people talking about home resort and Max & Legacy levels, etc.. NONE of those things were mentioned in our presentation. It was just points and then you rent rooms with those points. The questions I have now are:
1. How is availability? Our sales rep says we are guaranteed a room as 'owners' and I am curious how other find this to be.
2. Buying more points. He said that we can buy more points for $0.42 per point, does this ring true or close to the right numbers for others?
3. We can't see how the point system works for a few more weeks, how far does 5500 points seem to go for everyone? Our sales rep claimed that could get us a couple weeks in a 1-2 bedroom depending on location and time of the year.

We purchased day before yesterday (the 13th of Feb.) so we still have time in our 10 day window to cancel and since NONE of the things the sales rep mentioned seemed to be in my contract I feel inclined to cancel, but wanted to check with some real owners first.

 

[brp]

Great for finding TUG in time.

Rescind (Cancel) immediately. Then come back, ask questions, do some research and buy resale at a fraction of what you paid. Can you share what you did pay, and which resort/season?

But first, rescind!

Cheers.

 

[jessicaras]

See. that's where I am so confused. I don't have a 'home resort', or a season. It's JUST for points. It was $23k

 

[Pennytx]

See. that's where I am so confused. I don't have a 'home resort', or a season. It's JUST for points. It was $23k

Get out
I’ll give you my Hilton now for transfer fees

 

[GTKirk]

See. that's where I am so confused. I don't have a 'home resort', or a season. It's JUST for points. It was $23k

Rescind immediately. Research the different systems. Then decide if it's worthwhile and buy resale if you think it will work for your travel needs. If you don't rescind in time, you'll never recoup that $23k.

 

[jessicaras]

Get out
I’ll give you my Hilton now for transfer fees

What is your situation?

 

[jessicaras]

Rescind immediately. Research the different systems. Then decide if it's worthwhile and buy resale if you think it will work for your travel needs. If you don't rescind in time, you'll never recoup that $23k.

I'm having a heck of a time figuring out the different systems. Is there any clear info on it anywhere?

 

[GTKirk]

I'm having a heck of a time figuring out the different systems. Is there any clear info on it anywhere?

This forum and the "Hilton Grand Vacation Club Owners" Facebook group.

Whatever the sales agent told you is 99% lies at best.

 

[CalGalTraveler]

You can learn more here on TUG after you rescind and we can help. First priority: rescind now using exactly the procedure in your contract. You only have a few days or you will be stuck with a bad package.

We can help you decide whether buying resale (or at all) makes sense. You can also rent from owners until you know whether this works for you. Save your $23k. For $5 - 7k you can get a resale that has twice the number of points. You can research that later. Rescind NOW or you will regret.

 

[TUGBrian]

the two systems are HILTON GRAND VACATIONS CLUB, and HILTON VACATION CLUB.

the language in your contract will likely explain, but it doesnt matter at this point which one you bought as you should RESCIND IMMEDIATELY in either situation!

 

[GT75]

If you just purchased points then I suspect that you purchased in HVC (old DRI) which is a trust point system. You should own in some HVC trust collection such as HI, USA or Mx (Cabo). I suggest that you rescind now while you can because:

• You didn't purchase enough points to make it work.
• That system has NO resale value. In fact, it will be very hard to give it away. You will probably need to help (by paying closing costs and next year's MFs) in order to get rid of it.

This is your decision.

btw, the salespeople have purposefully made this very confusing to understand. They only want to make a sale and aren't there to explain how it works for understanding.

 

[mountainboy]

I'm having a heck of a time figuring out the different systems. Is there any clear info on it anywhere?

You have been given excellent advice by many.
Rescind asap (as you can only do within the short window on purchase)
Research & Buy Resale later.
Best in your journey!

 

[RX8]

@jessicaras Others have already given you excellent advice to rescind. In my view, HGVC (and not HGV/old Diamond Resorts) is a great system and works best if purchased resale finding the sweet spot of points and maintenance fee. This will depend on how you want to travel and how many in your family.

5500 points isn't the lowest amount of points HGV/HGVC sells but it isn’t far off. That is the plan of sales - sell you something that doesn’t work so they can upsell you again and again.

Why is everyone telling you to rescind? The sad truth is that the resale value of your $23K HGV purchase is zero, or even possibly less. Yes, HGV sold you something for $23K that isn’t worth one packet of hot sauce at Taco Bell. If you went to HGV on the 11th day (after your rescission passed) and said to them “I’ve paid the $23K in full, would you please just take it back from me for free?” they would tell you NO THANKS.

Consider yourself lucky by rescinding. Too many people don’t start asking the same questions you are asking until they are well outside the rescission period.

Step 1 - Rescind. Step 2 - Research! Read the many threads on TUG and ask questions. Take your time as there is no rush. I was a complete newbie and took 1.5 years after I joined TUG before I bought my first timeshare. I now own 53 *. Step 3 - Consider spending $15 of the $23K savings by joining TUG as a full member. In addition to being recognized as a “TUG Member” on your profile, you also get additional perks such as access to view the resort reviews. While rare and not a TUG perk itself by joining, I have seen a couple of TUG Members in the past who gave away a free last minute rental week but the offer was only open to another TUG Member. Of course, you also get all the advice you can handle just for finding TUG.


* I don’t really own 53 but I do own 3.

 

[rc51]

I didn't see anyone really answer your questions, though. And, for what it's worth, you should listen to the wisdom here and definitely rescind! Most of us have been there before, and are still happy timeshare owners. So, first, do that (and I assume by now, you already have).

I also like to frame this in a way that's a bit different from the conventional take on this. What you bought *was* worth $23k to you after doing all the thinking on what was being offered (although your brain probably filled in some gaps from the salesperson here and there with wishful thinking). So, think of this as an opportunity to by SO MUCH MORE in terms of points and seasons (like literally 4-5x more, easily) for a fraction of the $23k you were willing to spend. You were happy with the basic deal at the time, so you'll be much happier when it's just more for less money. Same general usage considerations, you are just getting a much better deal! People have pointed out that you would lose Max, but you'll also see (and I agree) that you aren't really losing anything there (for real, odds are you won't even use it).

How is availability?

Generally, pretty good in my experience. There are a few properties that can be hard to book if you wait, but plenty that haven't been. You definitely want to plan for your vacation time well in advance, though, which was new to me. I also find that there is a lot of great availability for "Open Season" and paying a lower cash value for some really nice rooms, but you have to be flexible there and take what you can get. It's definitely a step up from your average hotel room!

We can't see how the point system works for a few more weeks, how far does 5500 points seem to go for everyone?

Realistically, not very. You can definitely book your "home week" with it, and if you hunt around there's some stuff. But definitely it's going to be slim pickings and you aren't going to be happy. Other people probably have better advice on a great starting point number, and it will depend a lot on if you need more than one room, but personally I'm a big fan of 11,200. But other people will give you better guidance there. It sure would be nice if you could easily see the points charts on HGVCs website before you buy so you can figure out what works best for you. Someone here probably has something to that end.

2. Buying more points. He said that we can buy more points for $0.42 per point, does this ring true or close to the right numbers for others?

I'm not personally aware of this, but maybe someone else is. So far with all the options around borrowing and saving, I've never found the need.

As others have said, no rush, and you can figure out what you really want and shop around and buy that (or not!). It's what I did and I couldn't be happier.

 

[letsgobobby]

I'm having a heck of a time figuring out the different systems. Is there any clear info on it anywhere?

rescind immediately

you don't research these questions after buying a timeshare you research them before

rescind before it is too late

 

[GT75]

@jessicaras, what did you decide?

 

[loosefeet]

Amazing how good these sales folks are--give them $23,000 THEN ask what did I buy. Hope OP took advice.

 

[Monkeyboy]

do we know if it’s HGVC or HVC that was purchased.

 

[geist1223]

I am assuming it was HVC because OP said it was just straight Points no Home Resort.

 

[Monkeyboy]

Seems like the point allowance falls into HGV also.

 

[WorldT]

@jessicaras, what did you decide?

OP has not been back since Sunday. However, there were enough responses on Sunday to give them pause.

 

[GT75]

Seems like the point allowance falls into HGV also.

HGV isn’t the club which anyone is in, it is the overall company. In order to answer questions about the rules we need to know which club someone is in.