My HGV club regrets, not what the presentation was about.

[Blobbb]

I got into the HGV club, just received my bonus points, and am having my third wave of regrets. Paid $17k for 5.6k points biennially, 12k points as a bonus, and $1.5k yearly in fees. I have a few questions for you guys:

1. Please estimate how bad was this deal. 0-10, where 0 is total trash, and 10 is the best deal possible.
2. Is there a way to get out without losses or with minimal loss? If there is such an option, please point me to the resources on the topic.
3. Please confirm if I estimate it correctly: 3 days stay in Hawaii biennially, means 5 times in the next 10 years will cost me $6400, or $1200 a day of stay?

Thank you in advance, sorry for a downer mood.

 

[brp]

It's bad enough that you should rescind immediately. How long ago did you purchase? Are you still within your rescission window (check the docs you got) - typically 7-10 days from date of purchase. This is the consideration of the moment.

No need to apologize. This is something we hear a lot. I hope that you are in time.

Cheers.

 

[HuskerATL]

When did you close? The range to rescind is 3 to 10 days depending on location. If you are past that rescission period, then it is what it is and you will need to make the best of it.

Unfortunately, your MF/pt is high, about 0.26 when, ideally, it would be 0.10 or less. Also, you don't have that many points so it will restrict what units you can use, how long and, potentially, the time of year.

You can stay less than a week on weekdays to use less points, wait for point deals when HGV advertises discounts, use open season, use RCI, and save/borrow to combine points for a longer stay/larger unit.

 

[Blobbb]

It's bad enough that you should rescind immediately. How long ago did you purchase? Are you still within your rescission window (check the docs you got) - typically 7-10 days from date of purchase. This is the consideration of the moment.

No need to apologize. This is something we hear a lot. I hope that you are in time.

Cheers.

Ouch. I didn't even know about the rescission window. We purchased (or actually financed) it in November 2022 and just received points. Looked into the documents, can't see anything about rescission. Was it the only option to get out?

 

[HuskerATL]

Ouch. I didn't even know about the rescission window. We purchased (or actually financed) it in November 2022 and just received points. Looked into the documents, can't see anything about rescission. Was it the only option to get out?

Yes. That small window is it unless you sell it or give it away but it has to be paid off to do that.

Since you are past the period to rescind, now will be the time to learn how best to use it.

 

[HuskerATL]

Do you have access to the HGV website? If so, look at the Navigator page. It goes through how to use your points. Also, look at the points guide to get an idea of the number of points needed by location/season/unit size. For a week stay, the weekend is about 60% of the points so weekday stays use a lot less. Also, some properties use less points and off season uses less points. These are the tricks that you can use to maximize your stays.

 

[Blobbb]

When did you close? The range to rescind is 3 to 10 days depending on location. If you are past that rescission period, then it is what it is and you will need to make the best of it.

Unfortunately, your MF/pt is high, about 0.26 when, ideally, it would be 0.10 or less. Also, you don't have that many points so it will restrict what units you can use, how long and, potentially, the time of year.

You can stay less than a week on weekdays to use less points, wait for point deals when HGV advertises discounts, use open season, use RCI, and save/borrow to combine points for a longer stay/larger unit.

I remember the sales guy telling me that I can come back for an upgrade of the timeshare, so I'll get more points annually and we'll also get more bonus points. The total price of the old timeshare will be substituted from the new timeshare price. Is it a good way to dilute the MF/pt ratio? (I still can't find what MF stands for)

 

[Blobbb]

I guess it's maintenance fees

 

[HuskerATL]

MF is Maintenance fees. That is your biennial fees. For those with annual deeds, they pay it every year

You can trade in your deed and they will give you the amount you paid for it toward another deed. The good part is that you could get a better deed with lower MF/pt cost but the downside is that it will be expensive to do it.

Another option would be to keep what you have and buy a resale to add points. If you go this route, then you can get a good deed that isn't expensive but you will have another MF. You are probably Max, so adding a resale will give you usable points in Max but they won't increase your Max Tier level.

 

[Blobbb]

MF is Maintenance fees. That is your biennial fees. For those with annual deeds, they pay it every year

You can trade in your deed and they will give you the amount you paid for it toward another deed. The good part is that you could get a better deed with lower MF/pt cost but the downside is that it will be expensive to do it.

Another option would be to keep what you have and buy a resale to add points. If you go this route, then you can get a good deed that isn't expensive but you will have another MF. You are probably Max, so adding a resale will give you usable points in Max but they won't increase your Max Tier level.

I assume it will be expensive to trade in because it's from Hilton directly? There is no hope for a good deal from them?
I am HGV Max. If I'll buy a resale, wouldn't it add to the MF I'm already paying? Just to clarify if it lowers the first MF or two MFs diluting the total MF/pt ratio?

Thank you for your answers, I appreciate it.

 

[HuskerATL]

Yes. Buying direct from HGV is outrageous. There are people giving away similar deeds as yours just to get someone else to take it over.

You could get an inexpensive low MF/pt resale that would average out your overall MF/pt cost. Maybe even an even year deed so that you have points each year. Vegas has some good low MF deeds but you could also get one in Scotland.

 

[HuskerATL]

You can look in the TUG marketplace to get an idea of what resales cost but look for a low cost, platinum deed with about 11,200 pts or so.

Here is the TUG marketplace and I have selected HGVC as the filter but you can go the main page and start the search over, https://tug2.com/timesharemarketpla...Id=15022&ForSale=True&HasPointsOwnership=True

Here is Scotland Craig Lodges. We own several here and really like it since they are cheap, low MFs, and only have a 195 pound legal fee for closing and a 300ish pound point activation fee, https://www.craigendarroch.com/sales/

Just remember, resale points will not increase your Max Tier level but will give you more points to use across HGV.

 

[HuskerATL]

Interestingly, the first one listed on that TUG resale page is about what you own:

 

[HuskerATL]

You can also look at this sticky for the MFs by location/unit size, https://tugbbs.com/forums/threads/2023-hilton-grand-vacations-maintenance-fees.344775/

Here is the Craig Lodges summer sales sheet, https://www.craigendarroch.com/wp-content/uploads/CD-Website-Summer-2023-002.pdf . Just look at the MF sticky to find out the MF by unit size and then you can calculate the MF/pt.

 

[Blobbb]

Interestingly, the first one listed on that TUG resale page is about what you own:

View attachment 78854

Oh man, I've failed majorly. I can't believe it's legal what Hilton does to first-time buyers. I'll still try to contact the sales guy for a better deal than I have right now. I don't feel comfortable owning it.

 

[HuskerATL]

Oh man, I've failed majorly. I can't believe it's legal what Hilton does to first-time buyers. I'll still try to contact the sales guy for a better deal than I have right now. I don't feel comfortable owning it.

Let us know how that goes. It is not uncommon for the sale's folks to ghost buyers who come back to the with complaints. They will give you their time though if they think that they can sell you another deed. Just weigh the overall cost: purchase price, closing costs, and MFs.

Most folks first bought retail and then discovered resale so don't feel bad about that. Actually, even though your deed isn't the best, at least, you only paid about $17k. There are some folks who pay a lot more before they learn about resale. Resale is about 10% of retail but the points work the same way.

 

[rrsafety]

Oh man, I've failed majorly. I can't believe it's legal what Hilton does to first-time buyers. I'll still try to contact the sales guy for a better deal than I have right now. I don't feel comfortable owning it.

Before going into the HGV presentation had you ever heard of timeshares? What was you view of timeshares before you went to the presentation?

 

[pedro47]

The new Hilton is all about the dollars sign. IMHO... LOL

 

[Shmiddy]

I would buy another biennial deed re-sale (if you have odd years, buy even or vice-versa) so you have points every year and MF every year. The low cost of the re-sale deed will even things out and make the pain a little less and you will have something you can use.

 

[ernststarhemberg]

Agreed. It may seem odd to "double down" and buy more, but EOY deeds with relatively low MFs can be found at low prices. A small additional investment will go a long way towards helping enjoy the program and getting your money's worth out of it. It really is a good system when utilized to its potential, just takes some time to learn the ropes!

 

[letsgobobby]

the $17,000 you paid is done and gone. sunk cost. nothing you can do about it. stop thinking about it.

your deed is mediocre bad. i'd call it 3 out of 10. this is based entirely on your annual MF per point of $1500/5600 points = 26.8 cents. You can commonly pick up Vegas deeds at 10 cents per point per year.

Options 1:

1. sell or give away and be done with HGVC.

2. play around with 5600 points and if you learn to use the system well, and like it, you can shop for another lower priced ($/MF) deed and then either keep this starter deed or dump it.

whatever you do don't go back to HGVC for an upgrade, a trade in, or another retail deed. All of those will screw you over just like you got acrewed over this time. If you buy anything, buy it resale.

 

[GMan82]

I like the idea of buying a resale EOY deed to complement the one you have. I’m assuming you have an EOY odd, since you’re getting your points in 2023. You also mentioned Hawaii. Looking at rofr.net, these EOY properties are the recent sales that passed.

Grand Waikikian by Hilton Grand Vacations Club

5/11/2023

Platinum

EOY

2BR Premier

N/A

$6,000.00​

Passed

Toto

Hokulani Waikiki by Hilton Grand Vacations Club

9/25/2021

Platinum

EOY

1BR Plus

N/A

$1,000.00​

Passed

Ange

King's Land by Hilton Grand Vacations Club

12/1/2020

Platinum

EOY

1BR Premier

N/A

$5,000.00​

Passed

Bingo Bango

Kohala Suites by Hilton Grand Vacations Club

4/21/2021

Gold

EOY

2BR

N/A

$217.50​

Passed

Pete

Lagoon Tower by Hilton Grand Vacations Club

9/9/2020

Platinum

EOY

1BR Plus

N/A

$1,500.00​

Passed

Phyllis

The Bay Club at Waikoloa Beach Resort

3/6/2022

Platinum

EOY

2BR

N/A

$1,000.00​

Passed

Mike

The Grand Islander by Hilton Grand Vacations Club

4/8/2022

Platinum

EOY

1BR Regular

Resort View

$3,000.00​

Passed

Gbt

These are just the ones that I recognize. There are more recent sales but they were annual contract. I don’t know how many points correspond to each of those feeds but platinum season 2BR deeds will bring in a lot of points. As you can see, it’s possible and you can bring your overall purchase cost per point down significant by creating an annual contract using two EOYs - 1 retail you’re stuck with and 1 super cheap resale. Learn the program and use the points. Overall it’s a good program. To claw back some of what I spent on my retail deed, I usually don’t mind going to the 1-hr owner updates. I’ll take their free gift and always say “No” to their offer.

Hope this helps, and welcome to the HGV Tug family!

 

[BingoBangoBongo]

I like the idea of buying a resale EOY deed to complement the one you have. I’m assuming you have an EOY odd, since you’re getting your points in 2023. You also mentioned Hawaii. Looking at rofr.net, these EOY properties are the recent sales that passed.

Grand Waikikian by Hilton Grand Vacations Club

5/11/2023

Platinum

EOY

2BR Premier

N/A

$6,000.00​

Passed

Toto

Hokulani Waikiki by Hilton Grand Vacations Club

9/25/2021

Platinum

EOY

1BR Plus

N/A

$1,000.00​

Passed

Ange

King's Land by Hilton Grand Vacations Club

12/1/2020

Platinum

EOY

1BR Premier

N/A

$5,000.00​

Passed

Bingo Bango

Kohala Suites by Hilton Grand Vacations Club

4/21/2021

Gold

EOY

2BR

N/A

$217.50​

Passed

Pete

Lagoon Tower by Hilton Grand Vacations Club

9/9/2020

Platinum

EOY

1BR Plus

N/A

$1,500.00​

Passed

Phyllis

The Bay Club at Waikoloa Beach Resort

3/6/2022

Platinum

EOY

2BR

N/A

$1,000.00​

Passed

Mike

The Grand Islander by Hilton Grand Vacations Club

4/8/2022

Platinum

EOY

1BR Regular

Resort View

$3,000.00​

Passed

Gbt

These are just the ones that I recognize. There are more recent sales but they were annual contract. I don’t know how many points correspond to each of those feeds but platinum season 2BR deeds will bring in a lot of points. As you can see, it’s possible and you can bring your overall purchase cost per point down significant by creating an annual contract using two EOYs - 1 retail you’re stuck with and 1 super cheap resale. Learn the program and use the points. Overall it’s a good program. To claw back some of what I spent on my retail deed, I usually don’t mind going to the 1-hr owner updates. I’ll take their free gift and always say “No” to their offer.

Hope this helps, and welcome to the HGV Tug family!

The third one in your list is mine and comes with 20,160 pts EOY. It’s just like having a great Vegas EY deed and very lowMF/pt ratio (7.9 cents/pt)

 

[letsgobobby]

The third one in your list is mine and comes with 20,160 pts EOY. It’s just like have a great Vegas EY deed and very lowMF/pt ratio.

i see those KL deeds and they do seem quite similar in MF and purchase price per point to Vegas. Nice buy.