MVC Points, Should we buy?

[Ahoop419]

My husband and I were just in Fort Lauderdale at BeachPlace Towers for vacation and went to the sales pitch for the vacation points. It wasn't our first sales presentation and we have been contemplating it for some time now. We ended up signing a contract for 1000 points. They gave us 1000 bonus points for signing up and then an additional 1000 if we keep their financing for 18 months (which we don't plan on doing). They also decreased our sales price by what we had paid for our vacation.....so our purchase price was $14,260 decreased by $1399(current trip cost) for a total of $12,861 for the 1000 points.

So now I'm at home and i'm looking up what we can actually do with our 1000 points, and I am getting worried that 1000 points isn't going to get us very much when we can actually go on vacation. I was able to find the 2019 and 2020 catalogs with the point breakdowns. I am a teacher so we need to keep our vacations to February, spring, or summer breaks.

I'm a bit of a deal seeker, so I was matching up what the actual cost of staying at some of the resorts would be vs our 1000 points. And can only find a few, where the points will be a "better deal" then just getting the room year to year... For example...Beachplace towers costs 1950 vacation points for a 1 bedroom for a full week, during my winter break. To regularly book the same type of room and dates would cost $1537....even with a 3% annual inflation...it would be take over 30 years for the cost of MVC points/maitenance/annual to be equal to just booking it off the site normally. However, for a similar scenario for Sunset Pointe in South Carolia.....the Points Cost is a way better deal than buying off the site normally. So....here I am...super conflicted and hoping for some insight.

I know there's other things to offer, such on cruises, the different exchange hotels, escapes, and explorer collection. But, I can't seem to find out how many points those things cost. I am assuming I won't get that info until I actually close on the points and get my login info....

For reference, we are in our early 30s, have a daughter whose 17 months, and plan to have more kids, so we know we'll definitely be wanting to take family vacations at least once a year. I know we can leave it to our children when we eventually pass, but who know what that future will hold for the vacation club.

I would love some opinions/insights on if you think the MVC points are worth it?
Would it financially be worth to stick with our 1000 points and then "rent" points for when we don't have enough?

We signed the contract on April 19, so we have until the 29th to postmark a cancellation letter...if that's the route we choose....

 

[mjm1]

My husband and I were just in Fort Lauderdale at BeachPlace Towers for vacation and went to the sales pitch for the vacation points. It wasn't our first sales presentation and we have been contemplating it for some time now. We ended up signing a contract for 1000 points. They gave us 1000 bonus points for signing up and then an additional 1000 if we keep their financing for 18 months (which we don't plan on doing). They also decreased our sales price by what we had paid for our vacation.....so our purchase price was $14,260 decreased by $1399(current trip cost) for a total of $12,861 for the 1000 points.

So now I'm at home and i'm looking up what we can actually do with our 1000 points, and I am getting worried that 1000 points isn't going to get us very much when we can actually go on vacation. I was able to find the 2019 and 2020 catalogs with the point breakdowns. I am a teacher so we need to keep our vacations to February, spring, or summer breaks.

I'm a bit of a deal seeker, so I was matching up what the actual cost of staying at some of the resorts would be vs our 1000 points. And can only find a few, where the points will be a "better deal" then just getting the room year to year... For example...Beachplace towers costs 1950 vacation points for a 1 bedroom for a full week, during my winter break. To regularly book the same type of room and dates would cost $1537....even with a 3% annual inflation...it would be take over 30 years for the cost of MVC points/maitenance/annual to be equal to just booking it off the site normally. However, for a similar scenario for Sunset Pointe in South Carolia.....the Points Cost is a way better deal than buying off the site normally. So....here I am...super conflicted and hoping for some insight.

I know there's other things to offer, such on cruises, the different exchange hotels, escapes, and explorer collection. But, I can't seem to find out how many points those things cost. I am assuming I won't get that info until I actually close on the points and get my login info....

For reference, we are in our early 30s, have a daughter whose 17 months, and plan to have more kids, so we know we'll definitely be wanting to take family vacations at least once a year. I know we can leave it to our children when we eventually pass, but who know what that future will hold for the vacation club.

I would love some opinions/insights on if you think the MVC points are worth it?
Would it financially be worth to stick with our 1000 points and then "rent" points for when we don't have enough?

We signed the contract on April 19, so we have until the 29th to postmark a cancellation letter...if that's the route we choose....

Congratulations on finding TUG. It is a great resource for information and insights about timesharing.

We are owners and love Marriott. However, I highly recommend that you rescind your purchase and do more research about what would work best for you and your family. You can always buy these points in the future.

Timeshares have worked great for our family and they may be ideal for yours too. You may want to consider buying a unit or points on the resale market. You can do some research on the TUG Marketplace and/or redweek.com.

Others will weigh in too, but you will find that the consensus will be to rescind immediately and do more research. You should have received specific instructions on how to rescind. Follow them to the tee. Don’t call Marriott as they will try to convince you to stick with your purchase.

Good luck.

Best regards.

Mike

 

[vacationtime1]

Points are very flexible, but they are also a very expensive way to reserve accommodations as you have already calculated. There are less expensive ways to get the same accommodations.

You should research the resale marketplace where points sell for about $7/pt. all in. You should research the (resale) weeks marketplace which is far cheaper although more complicated. And you should research the rental market (renting units, not points) where no financial commitment is necessary and where bargains can be had.

You have $12K on the line. You have doubts. So rescind.

 

[TXTortoise]

It's late, so others will weigh in tomorrow, but strongly suggest you rescind immediately and then work through your needs and questions. You can always get the same deal 'tomorrow'.

If you don't currently own any weeks or points, other than these, then you really need to immerse yourself on TUG.

Short, simplified story, with a few caveats that can be addressed later.

1. Don't buy points retail from Marriott. You can buy resale on the open market in the $4.50 range, or less with no loss in how you can use them.
A good calculator is here: https://vacationpointexchange.com/resale/

2. Figure out where you want to go. Do you want to do it annually, within driving distance, do you want lots of options, what is your buy-in budget and what are you prepared to may in maintenance fees every year and assume the MFs will go up 4-5% per year.

3. A resale week may make more sense, but if Points turn out to meet your needs then you can consider a pure resale points purchase or something referred to as a hybrid, which is a resale week with a points purchased from Marriott at a relatively low cost/point.

Check out the FAQ and maybe start with the Points one:
https://tugbbs.com/forums/index.php?threads/faq-mvc-destinations-points-program.197346/

RESCIND NOW....

 

[taffy19]

If you have any doubt, RESCIND and do it now while you have a chance. You can always buy again from the developer later at an inflated price or cheaper on the resale market but do some more research first here on TUG to understand what you need to know and how to keep track of your dates and data, etc.

 

[Fasttr]

Question.... was this trip to BeachPlace a typical annual vacation for you, or do you find yourself not usually taking vacations like this? Clearly you must have enjoyed yourself, or you likely would not have purchased. I guess what I am saying is that with the purchase, you are far more likely to always take a nice annual vacation like you did to BeachPlace...because of your purchase, you will be committed to using what you bought. To me, that is one huge plus to taking the ownership plunge. You are less likely to put off that nice vacation, and as your daughter grows from 17 months to 17 years, the "forced" vacations will bless your family with lasting memories. You may look back on this and say that $13K was the best money we ever spent.

As you have pointed out, 1000 points by itself won't get you very far, but if you are ok renting what additional points you would need to take the vacations you desire, there is a path to happiness. Also, from that perspective, keep in mind that as your family grows, and your kids grow, that Studio or 1BR that you might fit into today may require a 2BR or even a 3BR if your kids want to take friends, etc way down the road. Points allow you that flexibility, but as others have said, that flexibility does come at a cost over a resale week purchase, as those 2BR and 3BRs in nice places require a lot of points to book.

Many posts above correctly say there are cheaper alternatives to what you have purchased. It just comes down to how much flexibility you want. Some love going to the same resort every year, or are ok playing the Interval International trading game to go elsewhere, and for those folks, resale weeks work great and are the least expensive approach. Others prefer the flexibility of points, booking on the spot based on current availability, ability to select/control view type, villa size, resort location, etc, etc, all without waiting for a trade to come through, but all that comes at a higher cost. Resale points were also mentioned in earlier posts, and after paying MVC their $3 per point junk fees, you are likely spending around $7-$8K for the same points you paid $12-13K for. Then there is the ultimate flexibility, pay for what/where/when you want to go with cold hard $$ with no upfront costs (but without the ownership commitment, will you always make annual trips a priority???) There are many ways to skin the vacation cat.

You had also asked about the other uses of your points, Explorer Collection, Cruises, etc.. The general consensus around here is that the best bang for the buck is using your points to stay at MVC resorts. The value greatly diminishes as you start to use these alternative usage options. Granted, it is nice to have additional usage options, and you may find you use them once in a while, but buying with the goal to use these other options is not generally a good idea.

As others have said, rescinding is the best advice if you have doubts, but I wanted to point out at least one intangible benefit to ownership that is at least worth considering.

One other thing to ask MVC if you do plan on keeping what you purchased... It has been our understanding that you would need 1500 points to have what MVC defines as a Base Interest. Having less than a Base Interest may not allow you all the benefits in the club. You may want to specifically ask them if your 1000 points would be a Base Interest as defined in the plan. I would want that in writing if I were you and you decide to move forward.

Good luck with your decision.

 

[jme]

1000 points will get you NOTHING of value. In fact it's laughable.

You'd have to buy far more, plus incur the annual maintenance fees,
the "future" purchase of points being exactly what they wanted to get out of you.

You'd need 3500-4000 total points to have anything of value....then, calculate $$,$$$ what that would get you
for one single week somewhere in a high season, or 2 weeks in a low season. That too is laughable.
Top-end weeks at the best resorts require 4500-6000 points. Calculate that cost, too.

Get out, and get out fast. Developer DC Points are prohibitively expensive and a ridiculous deal.


*ADDENDUM: One more point, including one example, of using DC points:
Say you buy those 1000 points. Now you want to RENT the extra points needed to make a nice trip, say 4000 total points
for a nice week in a high season at a nice resort (many high-end weeks require 5000-6000 points,
but let's stick to this mid-level example week of 4000 pts for a single trip).

A fairly recent going rate to rent points from somebody WAS 55-60 cents per point, but now I believe it's slightly more @ 60-65 cents per point.
We'll say 55 cents for this example, a very cheap rental fee. That's $1650 in cash
for the extra 3000 pts, plus the initial cost of your annual 1000 points (you figure out that total amount).
That should by now put you from $2600-3000 in cash to get your desired trip.

If that much, why not rent a traditional week straight-up from an owner (for less) and avoid altogether the maintenance fees and purchase price of points?
Maybe it's somewhat less if you buy resale points, but you still pay a lot to rent the adequate # of extra points for a higher-end stay. Do you REALLY want to spend every year of your timeshare life in mediocre places in an off-season?

I have nothing against renting points-----I do it EVERY year, but only for cheap extra weeks in off-season, aside from, and in addition to, our regular timeshare stays in high seasons....one stay being for 825 pts per week in January ($453.75),
& another 2050 pts per week in February ($1127.50), the second week actually better off using either a Getaway from Interval Int'l or even an Owner Discount rental from Marriott, depending.
A trip needing 4000-6000+ points for high seasons I would never rent points, as there are other less expensive options for me.

Bottom line, I just don't see it.....that is, the purchase of DC points, even an initial purchase of only 1000, for the OP or for anyone else just breaking into the system.

THE ONE & ONLY reason I can understand for buying what I consider an "adequate" number of DC Points is if you have $100,000 in disposable income, and simply wish to have them in order to "play the game" and have fun doing so. That has inherent flexibility and will provide some great times, and I have no problem with that. It would be a decision not for "economics" but more for "happiness".

It would involve a hybrid deal of buying a high-end week or two from Marriott (with high-side points generation),
and enrolling them, of course in conjunction with a purchase of a sizable # of trust points.

(If you also want that $100,000 black Lexus LX570, go for it and enjoy it.....it's one of those lifestyle perks for those who can.)

I spent my approx $100,000 in traditional weeks long ago, enrolled them for $695-795 (can't remember),
and now have a ton of usable value with my 10 Marriott weeks (several resales).
I can get very creative with those.

 

[Theiggy]

Would you walk into a store and pay 12-13k for something you weren’t sure you knew how to use, weren’t sure if it was enough, didn’t read about or compare prices before? I wouldn’t. Rescind, because you can always go back and buy what you want later. 1000 points won’t get you anywhere good on school holidays or anywhere large enough for your family as they grow. Read everything in TUG- post in the newbie forum, read all the Marriott info (if you like Marriott), read the trading info and the points info. Then decide. Good luck!


Sent from my iPhone using Tapatalk

 

[LUVourMarriotts]

I'll offer a comparison for you. We purchased a resale OceanWatch week in Myrtle Beach. We purchased it last summer, and it is a Platinum OceanSide week. We paid $1000+ less than you paid for those 1000 points. This gets us a prime summer week every year in a 2BR unit. For you to be able to book into that same unit, you would need at least 4000 points.

Note: I am comparing weeks to points, but also comparing cost to benefit.

Our situation may be different. We also own other weeks that are enrolled in the points program, so we do have the flexibility of both. We also LOVE OceanWatch, so are planning to go there every summer. If we decide not to, it has historically been a great trader, from what I have read.

If you want to see some of the resale purchases that pass ROFR (which basically means the sale can go through between buyer/seller), check out www.rofr.net and look at some of the different resorts, and Destination Points, from Marriott (or Disney if that may be an option for you).

Finally, I'd rescind.

 

[StevenTing]

In short, rescind now. The deal will always be there in the future once you have all of your questions answered.

 

[brianfox]

Nine people have given excellent advice (I hope to be the tenth): Rescind.

The salesperson told you it was a once in a lifetime deal you were getting - It's a lie. The same deal will be there next month.
The salesperson told you the price was going up soon - might be the truth, but still a bad deal
The salesperson didn't mention resale points or weeks, or told you they had awful restrictions - typical B.S.

Take the time to research your other options, such as purchasing points resale or weeks resale. TUG doesn't sell anything, so you came to the right place to do independent research. I recommend you take at least a month to research.

If you like the Marriott Vacation Club resorts, know that you can always rent from an owner for not much more than you would pay annually as an owner. You get to stay at the nice resorts, but without the financial obligation that comes with ownership. We rented for years until we decided to buy (resale of course)

 

[Mlvnsmly]

You definitely need to rescind, but I'm not opposed to owning only 1000 resale points. I really like the idea of buying into the program at $7/point (after fees) then renting points for where and when you want to go. This would be the minimum upfront investment to be part of the program that you were sold on.

 

[TheTimeTraveler]

RESCIND. Do your homework. Come back and buy either resale (savings) or direct from Marriott (costly) after you do your research. Yes, one thousand points reserves elephant food (peanuts). You need a lot more than 1,000 points to get into the game and easily reserve during Platinum seasons.

Act NOW.

Best of luck!






.

 

[Dean]

I agree, cancel. Then investigated and learn. If it's right the deal will be there but there are likely much better options to accomplish your goals than to just buy points retail at this time.

 

[jme]

In addition to my earlier post #7, I agree again with everyone's further posts above for the OP to rescind and study.

In fact, I added an addendum to my post which further explains why I don't like the initial purchase
of only 1000 DC Points, period.

I do cite one specific and isolated example, though, when I think it's OK to go "all-in" on the points,
that is, if someone is just now getting heavily into the system and wishes to spend a lifetime enjoying Marriott,
but it would involve a creative hybrid deal (albeit not relevant to the OP).

 

[brianfox]

So @Ahoop419, what are you going to do? Inquiring minds want to know.