Legacy/trial timeshare offering from HGVC (Hawaii)

[foobarbaz]

We kept on refusing during our timeshares presentation at HGVC Hawaii and at the end were offered this legacy/trial(?) package:

Hawaii Collections, HOA ~$950/year
$10K buy-in (can be used as credit towards the typical "lifetime" timeshares)
5500 points generated every other year
10 years plan with option to opt-out anytime (provided I pay the full $10k).
Additional 5500 bonus points
2 x 1 week Odenza vacations vouchers (after reading the fineprints they seem to require a bit of effort to be worth using).

I like that this doesn't have a lifetime commitment. I could not find much information about this type of offering at TUGBBS (I'm totally new here so maybe I'm just bad at searching) and wanted to hear your thoughts. Thank you.

 

[foobarbaz]

Still under 7 days. Should I cancel? Thanks again for any advice.

 

[Lodemia]

For $10k you can get a deed at elara thats 11,200 per year and still have money left over. In 10 years, even if it’s not worth anything, it’s a highly desirable location that you will have no problem giving away.

I would rescind, research, then buy resale.

 

[tk25]

My opinion. This is most likely originally a Diamond “points” Hawaii collection product.
Really bad deal.
10K Way Too much money.
Hardly any points and only every other year.
‘Really super high exorbitant HOA for the points and wow every year also.
No mention of Max.

This is a lemon and worth zero or less on resale market.

 

[Talent312]

HGVC "proper" doesn't do these sorts of offers.
They don't call their Hawaii resorts a "Collection."

Frankly, this sounds like a "HVC" (was DRI) thing.
Perhaps its not even official HVC, but 3rd party?
-- I'd run away from this --

In any event, if you want in on HGVC, buy a resale.
For 1/4 - /3 the price, you can own a real HGVC TS

 

[foobarbaz]

Thanks everyone for the messages. I will rescind asap. I'm reading that they can make the cancellation process difficult... Would sending a fax + certified mail be enough for piece of mind? Btw yes to @tk25, I looked at the paperwork again and this is Diamonds Hawaii collection. It does include max but I suppose this is still a terrible deal.

 

[amycurl]

Rescind! Follow the directions precisely about how to send. Make sure you get a receipt. HVC won’t mess around on the rescission, but you have to do it NOW, and mail it to the right place.


Sent from my iPad using Tapatalk

 

[alwysonvac]

Just cancel and give yourself some time to research without the time pressure.

Timeshare sales folks are known to stretch the truth in order to make a sale.

They count on folks to not read their paperwork and only going by whatever they were told during the presentation. Sadly lots of folk come to the realization after it’s too late. If you change your mind two weeks later, a month later, a year later, your $10,000 is gone. You’ll be lucky if you can get 10% back in the resale market.

You’ll only have one chance to cancel but endless opportunities to buy from the developer.

Follow the instructions in paperwork to rescind and make sure you have proof that it was sent.

 

[HuskerATL]

Yes, this does sound like diamond and if you want to use HGVC properties, 5500 won't get you much....a studio, that is about it. I would rescind, do some homework on what you want and then go from there. The directions should be in the paperwork but there also is a DRI/HVC forum in TUG to ask also.

 

[SmithOp]

Which resort were you staying at that offered this deal?

 

[brp]

Thanks everyone for the messages. I will rescind asap. I'm reading that they can make the cancellation process difficult... Would sending a fax + certified mail be enough for piece of mind? Btw yes to @tk25, I looked at the paperwork again and this is Diamonds Hawaii collection. It does include max but I suppose this is still a terrible deal.

Not sure where you read this, but they (HGVC) do not. If this was through then, they are on the level with this and it will not be difficult. Certified mail should be sufficient. Fax for peace of mind

Good decision.

Cheers.

 

[Tamaradarann]

We kept on refusing during our timeshares presentation at HGVC Hawaii and at the end were offered this legacy/trial(?) package:

Hawaii Collections, HOA ~$950/year
$10K buy-in (can be used as credit towards the typical "lifetime" timeshares)
5500 points generated every other year
10 years plan with option to opt-out anytime (provided I pay the full $10k).
Additional 5500 bonus points
2 x 1 week Odenza vacations vouchers (after reading the fineprints they seem to require a bit of effort to be worth using).

I like that this doesn't have a lifetime commitment. I could not find much information about this type of offering at TUGBBS (I'm totally new here so maybe I'm just bad at searching) and wanted to hear your thoughts. Thank you.

If I understand this correctly, for the 10K you are only getting a total of 27,000 points in 10 years since it is 5500 points every other year. As other have said that is only enough for a Studio during Platinum Season or a 1 BR during Gold Season which really limits your options for use since many resorts don't have Studios and Gold Season at most resorts is very short and not a prime vacation period.
Also since it is every other year combining the points from one year to another to have 11000 points available is not possible unless you can save a year(which costs money) and borrow a year so that over a 4 year period you really get one vacation!

 

[tk25]

If you buy this and then want to get rid of it sometime in future - you most likely would have to pay someone to take it off you hands.

Rescind ASAP

 

[callwill]

Thanks everyone for the messages. I will rescind asap. I'm reading that they can make the cancellation process difficult... Would sending a fax + certified mail be enough for piece of mind? Btw yes to @tk25, I looked at the paperwork again and this is Diamonds Hawaii collection. It does include max but I suppose this is still a terrible deal.

Yes,; the peace of mind and the savings will be worth it.

 

[dayooper]

If you buy this and then want to get rid of it sometime in future - you most likely would have to pay someone to take it off you hands.

Rescind ASAP

I’m not even sure they would be allowed sell it on the resale market.