MVC Newbie Here... Could use some advice to maximize the program.

[Scafidi]

Hi Friends! My wife and I just bought into the MVC points program (1000 pts) at a presentation in San Diego. I know we paid a premium but we got the minimum and I figured we will purchase more points on the resale or rental market as needed.

We are in our early 40's with a couple of kids who are almost out of the house (19 & 16). We chose MVC because we need to take more vacations and to "up" our standards from the budget hotels. We do a lot of 2-3nt stays for our kids' sports and we like to take beach vacations, which we have not done enough of. So we are excited to be in the MVC and super happy to have found the TUG Forum. Lots of great advice here!

That said... We are very green and all this talk of weeks, points, mergers, conversions, etc. is pretty confusing. Add in the firehose of information during the presentation along with all the tips & tricks found on this forum... my mind is spinning! Haha - in a good way tho.

My question for the seasoned pros... What are the top 3,4,5 things you think I should know about MVC, how to use the program or how to maximize the benefits? Or anything else you think we should know?

I know this is a broad question. See... I'm so new to this - I don't even know what questions to ask!

Thanks for your help!

 

[vol_90]

Before we get into too much detail 2 questions:

1.) When did you purchase (date contract signed)
2.) How much did you pay including any incentives

This will help answer the question of to Recind or not and assist future commenters. Welcome to TUG!

 

[Scafidi]

Before we get into too much detail 2 questions:

1.) When did you purchase (date contract signed)
2.) How much did you pay including any incentives

This will help answer the question of to Recind or not and assist future commenters. Welcome to TUG!

1) Date signed 7/10/20
2) Paid $10.90/point. Received 1500 bonus and another 1000 after 18mos of financing.

 

[csalter2]

Well, first off welcome to the TUG group and welcome to the Marriott family.

Secondly, I really enjoy my ownership. I love the resorts and my family has. We started with our kids traveling and now my kids and grandkids travel with us. So this is an excellent program.

However, you bought very high for points. I’ve attached the Redweek link that so you could see you paid twice as much money for those same points and have the exact same benefits. Plus, you could buy double the points and take out your own loan for a much cheaper interest rate than what Marriott offers. Those bonus points can be rented for less than what you’re paying in interest

Marriott Vacation Club Points for Sale | RedWeek

Buy and sell Marriott Vacation Club points in the largest online timeshare marketplace.

www.redweek.com

You need to know that 1000 points won’t get you to many places during high demand seasons in high demand resorts. Hawaii would be a challenge. However, the good news is you can rent as many points as you need from other owners. That’s good because you can stay low on maintenance fees with a small amount of points and You can use Interval International for Getaways. This site can be useful for renting points and there is a points calculator to help determine the cost of any amount of resale points you’d like to purchase. https://vacationpointexchange.com/

Make reservations as far in advance as possible. Know that you can save points into the next year and borrow points from the next year.

Those are important for you to know.

My recommendation is to rescind if you can. It seems you still may have time. That deal will ALWAYS be there and better. I only write this because you overpaid by a lot. You’ll feel better if you do this. I don’t like telling this to people right off, but in your case you have time to make a change. I bought my timeshare like you directly from Marriott but did it with a strategy that got me the equivalent of resale. Continue to read and learn here on TUG before your purchase.

 

[csalter2]

After you rescind, come back here and share your vacation goals and we can help provide some strategies to help you make a more informed decision to not only maximize your vacation experience, but also to maximize your hard earned dollars.

 

[dansimms]

I just logged into https://vacationpointexchange.com/ and didn't see any section where Owners had run classified ads to sell (permanently) some of their Destination / Trust points. I thought I would see that.

 

[csalter2]

I just logged into https://vacationpointexchange.com/ and didn't see any section where Owners had run classified ads to sell (permanently) some of their Destination / Trust points. I thought I would see that.

That site is all about rentals.

 

[TheTimeTraveler]

I just logged into https://vacationpointexchange.com/ and didn't see any section where Owners had run classified ads to sell (permanently) some of their Destination / Trust points. I thought I would see that.

Plenty of point resales available on Redweek.......


.

 

[jmhpsu93]

Plenty of point resales available on Redweek.......


.

And eBay. $2/point is about the going rate, plus you have to pay $3/point to Marriott to "enroll" them in the MVC program.

I bought retail at about the same rate you did, definitely too expensive and I didn't find TUG until I started looking to use them (thought I don't regret it, and I didn't do it completely blind as I knew the resorts and a lot about Marriott in general). We've been happy with program I've since bought two resale weeks plus another 1K points on the resale market. With what we have we travel almost three months a year, plus are planning on "big" trips every 2-3 years (like - hopefully - Hawaii next May/June).

It takes some time to learn the nuances of the systems (Destination Club points, Marriott Vacation Club weeks, Interval International, plus all the other avenues like Redweek, Bonvoy, etc.), but well worth it.

 

[LUVourMarriotts]

There are several Marriott resale groups on Facebook. It seems almost daily people are posting 1000 points for sale at $3/pt. With the Marriott junk fees, you could save yourself about $4600 by rescinding now (you have a few days left) and jumping on one of those. I also understand that it is probably a little scary and uncertain to follow this and risk losing your 1000 points that you have already purchased.

I found TUG about 2 weeks too late to rescind on our 2nd week purchase from MVC, back in 2007. I was super pissed at myself for not doing further investigation. At that time, resales of the 2nd purchase were going for around $15,000 less than what I had paid MVC. Since, I have purchased a 3rd week on resale, about $25,000 less than the original owner paid.

Welcome to TUG.

Outside of rescind, my biggest suggestion is to plan as far in advance as your ownership allows. At 1000 points, your options will likely be very limited for the 2-3 day trips, since the "Owner" level can book 1+ nights at 10 months out. If you are doing those trips during off seasons, you may have some luck. On the other hand, at 1000 points, booking a full week (7 nights) may be difficult, except for off season time/location. Either way, plan ahead. If it makes sense for you/your family, also start looking into expanding your account with more points, to give yourself more flexibility. The owner levels and benefits are in the following link.

https://www.marriottvacationsworldwide.com/common/cms/mvc/pdfs/owners/Owner-Benefit-Level.pdf

 

[Scafidi]

Well, first off welcome to the TUG group and welcome to the Marriott family.

Secondly, I really enjoy my ownership. I love the resorts and my family has. We started with our kids traveling and now my kids and grandkids travel with us. So this is an excellent program.

However, you bought very high for points. I’ve attached the Redweek link that so you could see you paid twice as much money for those same points and have the exact same benefits. Plus, you could buy double the points and take out your own loan for a much cheaper interest rate than what Marriott offers. Those bonus points can be rented for less than what you’re paying in interest

Marriott Vacation Club Points for Sale | RedWeek

Buy and sell Marriott Vacation Club points in the largest online timeshare marketplace.

www.redweek.com

You need to know that 1000 points won’t get you to many places during high demand seasons in high demand resorts. Hawaii would be a challenge. However, the good news is you can rent as many points as you need from other owners. That’s good because you can stay low on maintenance fees with a small amount of points and You can use Interval International for Getaways. This site can be useful for renting points and there is a points calculator to help determine the cost of any amount of resale points you’d like to purchase. https://vacationpointexchange.com/

Make reservations as far in advance as possible. Know that you can save points into the next year and borrow points from the next year.

Those are important for you to know.

My recommendation is to rescind if you can. It seems you still may have time. That deal will ALWAYS be there and better. I only write this because you overpaid by a lot. You’ll feel better if you do this. I don’t like telling this to people right off, but in your case you have time to make a change. I bought my timeshare like you directly from Marriott but did it with a strategy that got me the equivalent of resale. Continue to read and learn here on TUG before your purchase.

And this is why I asked! Thank you csalter2!!! I'll get the Rescission going today.

So let me ask you... Once we rescind, what would be the best and most affordable way to participate in the MVC and receive the same benefits? If you were starting brand new... what would you do?

Thanks again!

 

[sandcfort]

Hi Friends! My wife and I just bought into the MVC points program (1000 pts) at a presentation in San Diego. I know we paid a premium but we got the minimum and I figured we will purchase more points on the resale or rental market as needed.

We are in our early 40's with a couple of kids who are almost out of the house (19 & 16). We chose MVC because we need to take more vacations and to "up" our standards from the budget hotels. We do a lot of 2-3nt stays for our kids' sports and we like to take beach vacations, which we have not done enough of. So we are excited to be in the MVC and super happy to have found the TUG Forum. Lots of great advice here!

That said... We are very green and all this talk of weeks, points, mergers, conversions, etc. is pretty confusing. Add in the firehose of information during the presentation along with all the tips & tricks found on this forum... my mind is spinning! Haha - in a good way tho.

My question for the seasoned pros... What are the top 3,4,5 things you think I should know about MVC, how to use the program or how to maximize the benefits? Or anything else you think we should know?

I know this is a broad question. See... I'm so new to this - I don't even know what questions to ask!

Thanks for your help!

As an "owner" level for the last 8 years, I would highly recommend rescinding now giving up the temporary bonus points and buying on the secondary market. You will save a lot of money upfront and the interest on the loan. Providing you don't want to go to the high demand locations and time frames you can stay for a week or piecemeal stays depending on your expected vacation habits.
Are you looking at going for a week or just weekends? Rule of thumb is Sunday -Thursday night stays = Friday/Saturday night stays for points needed. 500 points for a Sunday-Thursday night stay is also 500 for a Friday/Saturday night stay.

This is the first year that I have been short points as I want to go to Arizona over Thanksgiving so I will need to rent points.

Please someone else verify this:
When you rent points you must use them, you can't bank them for the next year.
Can someone explain the process of renting the points and add them to the buyers portfolio?

Thanks
Spf

 

[Scafidi]

And eBay. $2/point is about the going rate, plus you have to pay $3/point to Marriott to "enroll" them in the MVC program.

I bought retail at about the same rate you did, definitely too expensive and I didn't find TUG until I started looking to use them (thought I don't regret it, and I didn't do it completely blind as I knew the resorts and a lot about Marriott in general). We've been happy with program I've since bought two resale weeks plus another 1K points on the resale market. With what we have we travel almost three months a year, plus are planning on "big" trips every 2-3 years (like - hopefully - Hawaii next May/June).

It takes some time to learn the nuances of the systems (Destination Club points, Marriott Vacation Club weeks, Interval International, plus all the other avenues like Redweek, Bonvoy, etc.), but well worth it.

Thanks, jmhpsu93!

If you knew then what you know now, would you rescind and go straight to the resale market?

I really like the idea of owning the fewest points possible, then renting what we need -basically at the cost of the maintenance fee.

 

[Swice]

Welcome. Generally you'll find tuggers like their timeshares but simply do not like overpaying. There is something to the old adage that "you get what you pay for." But in this case, you can "get" the same for less money than you paid.

At this point, you have the advice to rescind and purchase another way. It's up to you. The timeshare prices will certainly not be going up over the next few months because of the virus and the economy. You have time to study and analyze. But I do understand there are times in your life when it's less hassle to stick with what you have and move forward.

As others have said, the amount of points will be restrictive for the location and amount of vacation time. But at least you'll get your feet wet and then have some basis for understanding our tips and tricks. You are right- there is a firehose of information that's coming at you.

Slightly changing the subject, I have teens just a year in front of yours. They are spoiled by vacations. My college student has just realized not everybody has enjoyed the same kinds of vacations we've had over the years. They are already dividing up the timeshares for when we die! They are now used to "space" -- with a second bedroom and bathroom. They also appreciate the kitchen. They've come to realize the ease of buying breakfast foods and lunch foods and eating in the unit without getting showered and dressed quickly each day. Our college student is at NC State and that's drivable to Myrtle Beach or Hilton Head for the long Thanksgiving weekend. Being at the beach sure beats driving home just to sit at the house for four days. Our high schooler is looking at applying to schools that would be driveable for breaks as well. Again, spoiled. You will enjoy.

Remember, those who hate their timeshares are the ones who never used them or took the time to learn the system. I've generally found those who have used their timeshares over the years, "love" their timeshares and found them to be wonderful purchases. We have spent weeks in Europe for the very little cost (except airfare). We have easily gone to places we never would have considered without a timeshare. With my kids leaving the nest, we plan to utilize our timeshares (weeks/points/getaways) in shoulder seasons and stretch out our initial investment even more!

 

[Scafidi]

There are several Marriott resale groups on Facebook. It seems almost daily people are posting 1000 points for sale at $3/pt. With the Marriott junk fees, you could save yourself about $4600 by rescinding now (you have a few days left) and jumping on one of those. I also understand that it is probably a little scary and uncertain to follow this and risk losing your 1000 points that you have already purchased.

I found TUG about 2 weeks too late to rescind on our 2nd week purchase from MVC, back in 2007. I was super pissed at myself for not doing further investigation. At that time, resales of the 2nd purchase were going for around $15,000 less than what I had paid MVC. Since, I have purchased a 3rd week on resale, about $25,000 less than the original owner paid.

Welcome to TUG.

Outside of rescind, my biggest suggestion is to plan as far in advance as your ownership allows. At 1000 points, your options will likely be very limited for the 2-3 day trips, since the "Owner" level can book 1+ nights at 10 months out. If you are doing those trips during off seasons, you may have some luck. On the other hand, at 1000 points, booking a full week (7 nights) may be difficult, except for off season time/location. Either way, plan ahead. If it makes sense for you/your family, also start looking into expanding your account with more points, to give yourself more flexibility. The owner levels and benefits are in the following link.

https://www.marriottvacationsworldwide.com/common/cms/mvc/pdfs/owners/Owner-Benefit-Level.pdf

Thank you LUV!

$4600 will go a long way! Ya, I'm super pissed at myself for not doing more due diligence upfront. At the same time... I don't think I would have fully understood the process, etc.

I do have a few days. I'll rescind and get back in on the resale

 

[Scafidi]

Welcome. Generally you'll find tuggers like their timeshares but simply do not like overpaying. There is something to the old adage that "you get what you pay for." But in this case, you can "get" the same for less money than you paid.

At this point, you have the advice to rescind and purchase another way. It's up to you. The timeshare prices will certainly not be going up over the next few months because of the virus and the economy. You have time to study and analyze. But I do understand there are times in your life when it's less hassle to stick with what you have and move forward.

As others have said, the amount of points will be restrictive for the location and amount of vacation time. But at least you'll get your feet wet and then have some basis for understanding our tips and tricks. You are right- there is a firehose of information that's coming at you.

Slightly changing the subject, I have teens just a year in front of yours. They are spoiled by vacations. My college student has just realized not everybody has enjoyed the same kinds of vacations we've had over the years. They are already dividing up the timeshares for when we die! They are now used to "space" -- with a second bedroom and bathroom. They also appreciate the kitchen. They've come to realize the ease of buying breakfast foods and lunch foods and eating in the unit without getting showered and dressed quickly each day. Our college student is at NC State and that's drivable to Myrtle Beach or Hilton Head for the long Thanksgiving weekend. Being at the beach sure beats driving home just to sit at the house for four days. Our high schooler is looking at applying to schools that would be driveable for breaks as well. Again, spoiled. You will enjoy.

Remember, those who hate their timeshares are the ones who never used them or took the time to learn the system. I've generally found those who have used their timeshares over the years, "love" their timeshares and found them to be wonderful purchases. We have spent weeks in Europe for the very little cost (except airfare). We have easily gone to places we never would have considered without a timeshare. With my kids leaving the nest, we plan to utilize our timeshares (weeks/points/getaways) in shoulder seasons and stretch out our initial investment even more!

Thanks, Swice - I really appreciate you sharing your experience... that is exactly why we got into it.

It looks like people who use it, love MVC which is great. It supports our decision to buy. But paying double... that hurts. I think the best choice is to rescind, study & analyze as you suggested and get in on the resale. That $4-$5K we save can go toward much better things!

Thanks again!

 

[Scafidi]

As an "owner" level for the last 8 years, I would highly recommend rescinding now giving up the temporary bonus points and buying on the secondary market. You will save a lot of money upfront and the interest on the loan. Providing you don't want to go to the high demand locations and time frames you can stay for a week or piecemeal stays depending on your expected vacation habits.
Are you looking at going for a week or just weekends? Rule of thumb is Sunday -Thursday night stays = Friday/Saturday night stays for points needed. 500 points for a Sunday-Thursday night stay is also 500 for a Friday/Saturday night stay.

This is the first year that I have been short points as I want to go to Arizona over Thanksgiving so I will need to rent points.

Please someone else verify this:
When you rent points you must use them, you can't bank them for the next year.
Can someone explain the process of renting the points and add them to the buyers portfolio?

Thanks
Spf

Thank you Sandcfort. Yes...Rescinding is the way to go.

 

[Scafidi]

Before we get into too much detail 2 questions:

1.) When did you purchase (date contract signed)
2.) How much did you pay including any incentives

This will help answer the question of to Recind or not and assist future commenters. Welcome to TUG!

Thanks vol_90! Great questions which will save me a lot of $$$

 

[csalter2]

As an "owner" level for the last 8 years, I would highly recommend rescinding now giving up the temporary bonus points and buying on the secondary market. You will save a lot of money upfront and the interest on the loan. Providing you don't want to go to the high demand locations and time frames you can stay for a week or piecemeal stays depending on your expected vacation habits.
Are you looking at going for a week or just weekends? Rule of thumb is Sunday -Thursday night stays = Friday/Saturday night stays for points needed. 500 points for a Sunday-Thursday night stay is also 500 for a Friday/Saturday night stay.

This is the first year that I have been short points as I want to go to Arizona over Thanksgiving so I will need to rent points.

Please someone else verify this:
When you rent points you must use them, you can't bank them for the next year.
Can someone explain the process of renting the points and add them to the buyers portfolio?

Thanks
Spf

Points can only be moved once. Once they are transferred to you that’s the only move, so no, you cannot bank them.

The process is simple go to a site like vacationpointexchange.com find a seller on the site whose renting. You contact them, you two will agree on payment, they will need your account number to deposit the points. You will be able to see the points in your account after they are deposited. I have done this and the seller deposited the points into my account and he accepted my check. That’s not how everyone operates. Be careful because there are some scammers. The site will point out some on them.

 

[Gemini Chica]

I live in Spain and it’s absolutely the best thing we ever did for our family, we have travelled so much since buying into the system and love the quality, space etc. so I think it’s a great move. I’ve bought both direct and resale and no regrets on either as was clear on what I was doing. TUG has been my best educator with someone always ready to answer and whom have so much experience. Even if later you decide to buy direct rescind for now and learn all the options so you feel happy going forward that you have made the right decision for you.


Sent from my iPhone using Tapatalk

 

[Scafidi]

Well, first off welcome to the TUG group and welcome to the Marriott family.

Secondly, I really enjoy my ownership. I love the resorts and my family has. We started with our kids traveling and now my kids and grandkids travel with us. So this is an excellent program.

However, you bought very high for points. I’ve attached the Redweek link that so you could see you paid twice as much money for those same points and have the exact same benefits. Plus, you could buy double the points and take out your own loan for a much cheaper interest rate than what Marriott offers. Those bonus points can be rented for less than what you’re paying in interest

Marriott Vacation Club Points for Sale | RedWeek

Buy and sell Marriott Vacation Club points in the largest online timeshare marketplace.

www.redweek.com

You need to know that 1000 points won’t get you to many places during high demand seasons in high demand resorts. Hawaii would be a challenge. However, the good news is you can rent as many points as you need from other owners. That’s good because you can stay low on maintenance fees with a small amount of points and You can use Interval International for Getaways. This site can be useful for renting points and there is a points calculator to help determine the cost of any amount of resale points you’d like to purchase. https://vacationpointexchange.com/

Make reservations as far in advance as possible. Know that you can save points into the next year and borrow points from the next year.

Those are important for you to know.

My recommendation is to rescind if you can. It seems you still may have time. That deal will ALWAYS be there and better. I only write this because you overpaid by a lot. You’ll feel better if you do this. I don’t like telling this to people right off, but in your case you have time to make a change. I bought my timeshare like you directly from Marriott but did it with a strategy that got me the equivalent of resale. Continue to read and learn here on TUG before your purchase.

csalter2 and others,

Question on recision - Would it be beneficial to reach out to the sales agent first indicating my intent to rescind to see if they will lower their point fee/renegotiate the deal?

 

[Dean]

I agree, cancel and get better educated then you can decide the best options for you. If it's timeshares it might not be trust points and it might not even be Marriott. But that way you can make a more informed decision which almost always equates to a better decision. In general I recommend people start with considerations for where, when and length of travel as well as their personal tastes (BMW or Chevy), how far out they can and will plan travel, budget and the like. Personally I also recommend only buying something one can pay cash for. Usually with timeshares you need to be able to plan a year or more out or be able and willing to travel on short notice to whatever pops up. Timeshares can be the best thing for many and the worst for others.

 

[Scafidi]

I agree, cancel and get better educated then you can decide the best options for you. If it's timeshares it might not be trust points and it might not even be Marriott. But that way you can make a more informed decision which almost always equates to a better decision. In general I recommend people start with considerations for where, when and length of travel as well as their personal tastes (BMW or Chevy), how far out they can and will plan travel, budget and the like. Personally I also recommend only buying something one can pay cash for. Usually with timeshares you need to be able to plan a year or more out or be able and willing to travel on short notice to whatever pops up. Timeshares can be the best thing for many and the worst for others.

Thanks Dean!

 

[Dean]

Thanks Dean!

Sure. If timeshares seem like they'll work for you spend like 6 months of active investigation before proceeding, you'll be glad you did.

 

[TheTimeTraveler]

Thanks vol_90! Great questions which will save me a lot of $$$

If you really want to save some BIG bucks then rescind your point purchase, forget about a resale point purchase, and purchase a resale week instead.

The most bang for the buck are resale weeks! Granted you don't have the flexibility of points, but resale weeks are a bargain these days!

Right now, on eBay, there are TWO Marriott PLATINUM Oceana Palms resales up for bid. This is a FIRST CLASS resort, and these weeks can be used for occupancy or Interval International trading. Current bids are currently $338. I think these originally sold for over $30,000 per week.

Now there is no telling where the final bid will be, but imagine paying just 1% of the original retail price..... This is why I really believe that resale weeks are the best way to go, but others do have differing opinions.



.