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new hgvc member - was my purchase worth it?

tlmir

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Hello,

We went to a presentation at the Elara in Las Vegas on Sunday and purchased 5000 club points (every other year) plus 8000 bonus points for $21,770. Maintenance fee is about $900. Our assigned property is at the Elara during gold week. Was this a good purchase or should we consider rescission? We do not have a ton of vacation days per year, so we did not need a whole lot of points to start out with.

Thanks!!
 

jwalk03

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Rescind. Take time to learn the ins and outs of timesharing and then decide what system works best for you and save a FORTUNE buying resale instead of from the developer. Don't delay. You only have one chance to rescind, and that time is especially short in Nevada!! (5 days)
 

Iggyearl

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Did you really want to buy a timeshare when you went into the meeting? Probably not. You were really interested in the free gifts/money. Then, over a 3 hour period some crafty salesperson got you to believe that you really needed the product and it was only $20K. If you don't rescind, that $20K will be worth less than $2K in a week. No resale value. Follow the above recommendations, review the rescission instructions, and mail your certified (return receipt requested) letter ASAP. If you really want that timeshare, you can find them on the internet - at a big discount. And join Tug and study.....;)
 

phil1ben

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Hello,

We went to a presentation at the Elara in Las Vegas on Sunday and purchased 5000 club points (every other year) plus 8000 bonus points for $21,770. Maintenance fee is about $900. Our assigned property is at the Elara during gold week. Was this a good purchase or should we consider rescission? We do not have a ton of vacation days per year, so we did not need a whole lot of points to start out with.

Thanks!!
I know you are reading the above and thinking how could Hilton charge $20,000.00 when the above and others say I can buy the very same product resale for $2,000.00 OR LESS (except the ability to get to elite which is in my opinion worthless anyway). You are probably further thinking this can't be a comparison of apples to apples. But it is. The timeshare retail market is the wild west. Rescind and then get educated. Fortunately I found TUG before I bought and purchased my one and only Hilton timeshare resale (7,000 annual platinum points) in 2010 for about $1.00/point with annual usage. We enjoy it very much and believe our resale purchase was good value. The program is a good one particularly if you can avoid buying retail.
 

JIMinNC

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I concur with the above recommendations. Rescind. We just completed the purchase of an every year 7000 point resale package for $6500 plus transfer fees and closing costs. "All in" cost including closing and transfer/activation fees for 7000 points was about $8000. Our annual maintenance fee is about $1,100. Ours was at HGVC Sea World, but in HGVC, in most cases, points are points, so it doesn't matter that much where you own.
 
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GT75

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+1 to everyone else. Rescind. You really need to research first before you buy. In addition, you can always buy from the developer (which you won't) at any time. Basically, HGVC is a good product but you can buy it on the resale market for a lot less.

In addition, you really will probably need more points (JMO) to make it more useful and your MFs/point ratio is too high for the package sold. But, you really need to research all that first. Maybe HGVC isn't the right product for you.
 

Mosescan

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For your information to help you understand how HGVC works. The maintenance fees are based on unit size not season so your 5000 point 2 BR gold unit has the same maintenance fees as a 7000 point 2 BR platinum unit except they get 40% more points for the same fees.

Don't feel too bad, I bought my first week from the developer just like you. Unlike you, I found TUG way to late to rescind. I recently purchased a 9600 point 3 BR Plus platinum unit for $11200 with Main fees of around $1200. this means for half what you spent I get almost twice as many points with only 50% more maint fees. The resale market is definitely the place to get your points from. The only perk you don't get from buying resale is the Elite status. That is not really worth very much, certainly not worth paying developer costs. The only good perks come at elite premiere level for which you need 34000 annual points purchased from HGVC so you can imagine how much that would cost!

Rescind now and do some research and if you are still interested buy from the resale market. You will even find the names of some good resale agents to use here on TUG like Judi Kozlowski, who is a remax agent in florida.

Good luck,
 

Arimaas

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For what it's worth I purchased a every year 5000 points package form Judi k for about $4k resale including costs. Rescind your package because you can get double what you just purchased (since you got an EOY package ) for about 20% of the price you just paid. My maintnance and club dues are about $850-900 a year.
 

Talent312

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Rescind your package because you can get double what you just purchased (since you got an EOY package ) for about 20% of the price you just paid. My maintnance and club dues are about $850-900 a year.
(emphasis added)

In case we're not being clear about this: These weasels took you to the cleaners.

You know that a new car's value drops the moment you take it off the lot, right?
This TS (which isn't "new") will lose 80-90% of its value when your deal closes.
Buy from a private owner or broker... then you'll get fair value for what you paid.

.
 

Arimaas

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Just as an add on thought, your first few attempts to purchase a resale might not pass Hilton’s contractual right of first refusal (“ROFR” - Hilton gets first dibs on any resale - except for one club, I forget which, someone will post the name here) But keep trying. It took me my third to get it. Either way, was well worth the money saved to have a little patience.
 

GT75

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GTLINZ

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Hello,

We went to a presentation at the Elara in Las Vegas on Sunday and purchased 5000 club points (every other year) plus 8000 bonus points for $21,770. Maintenance fee is about $900. Our assigned property is at the Elara during gold week. Was this a good purchase or should we consider rescission? We do not have a ton of vacation days per year, so we did not need a whole lot of points to start out with.

Thanks!!
I agree - RUN FOREST RUN !

Most of us love our HGVC timeshares - we just prefer to pay what it is worth. And it is not worth 21k+. You can buy an EOY unit very inexpensively ....
 
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