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New Hilton Owner - Second Thoughts/Advice Needed

wmlawman

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Hello all! I stumbled across TUG while doing research over the last two days, and boy do I wish I would have found it earlier! I would like to lay out my situation here and get your opinions - although I do believe I can guess what you might say based on the other threads I've read.

My husband and I traveled to Vegas this past weekend to the Vegas HGV resort. We had a great time, and yes, we surprised ourselves by buying into the program. On Sunday, we purchased 4800 points EOY for approx. $17,500 (location: Orlando - I-Drive). We received 8600 in bonus points (for signing up, and for paying it all). In general, we loved the flexibility offered because we have little interest in traveling to the same place more than once - at least for now. Additionally, although we don't have kids, we hope to start having them within the next 3 or so years, and we figured the HGVC would help us plan family vacations.

Since then we decided to do the research we probably should have done before we left for Vegas (and would have done had we had any idea we'd actually like the program). We have learned, again thanks to this great community, that resale appears to be a much better option financially speaking, especially because you don't lose that flexibility. (We actually asked about the resale market, and we were told by the woman we were working with that we would be more limited if we bought in that way. Very annoyed about that misinformation.) Thankfully, we are NY residents and can rescind within seven days.

My real question to you all would be whether resale is the way to go, or whether the 8600 in bonus points makes the value of what we actually purchased more reasonable?

Appreciate any tips you may provide. Looking forward to swapping HGVC stories soon!
 

slum808

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Recind while you still have time. You should be able to find that same point package for less than $7000 saving you $10k. Yes bonus points have some value, but not $10k. It's basically two years worth of points or $1500 in MF. HGVC is a great system with lots of flexibility. If you plan on having kids I would suggest looking at 7000 pt packages for a two bedroom.

Welcome to tug.
 

crf450x

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Well I am sure based on what you read that you know that you should cancel your purchase ASAP!!!

We were offered a similar deal at the HGVC Marbrisa in Carlsbad with a few other options they put down all the while the sales women writing on the paper upside down for us to be wowed with...:wall: I always find the upside down writing the funniest part of TS presentations.:hysterical:

Upon leaving we were offered the VIP Package that includes 7000 points for $1795 plus two more nights at the Marbrisa that we did purchase. Have already booked a 2b/2b at Kings' Land so I can see the value in the VIP Package for us. Just have to attend another presentation. The week at Kings Land actually cost 7500 points but the 500 points only cost $150 more so still not bad imo. 4800 points will not get you a week at any of the Hawaiian resorts.

I do like the HGVC system and will be researching it more. Our visit to Kings Land will be the determining factor if we do decide to get into the HGVC system. Primarily because there are not too many options for rentals on Redweek.

Been to the HHV several times and would rather stay in the Ko Olina area when we visit Oahu.
 
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frank808

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Disney Vacation Club (Aulani, SSR, VGC, VGF), Hilton Grand Vacation Club (Bay Club, Kohala Suites, The District DC)& Marriott Vacation Club (Grand Residence, Grand Chateau, Grand Vista, Harbour Lake, Willowridge, Aruba Surf Club, DC points)
RESCIND IMMEDIATELY! Follow the instructions to the letter on how to cancell purchase. For $10, 000 - $12, 000 you could buy a 7000 point platinum annual unit. A 7000 point EOY unit will run you about $6000 TO $7000 and you can save at least $10,000. Do more reading here on tug and ask questions. The HGVC club will still be there when you are ready to buy. Good luck.
 

wmlawman

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Thanks all. You did confirm what I expected. We will be rescinding.

If you plan on having kids I would suggest looking at 7000 pt packages for a two bedroom.
We thought about that, but I think we'd rather upgrade down the line, rather than start off too big - the kids could use the couch bed in a 1br for a few years as well. Does that make sense?
 

piyooshj

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Please rescind NOW/ASAP and pat yourself on the back that you found this board in time. Here is why:

I spoke earlier today with HGVC sales rep on phone. He said 8400 will get me one week 3BR in platinum season and is worth 2800-3200 (if you trust their inflated nos)
I recently bought Flamingo annual 4800 pts OFF of ebay for 4.4k including closing. Flamingo also doesnt have ROFR.

Please read my other post call with sales rep that will give you more insights into reasoning why developer purchase does not makes sense. I got sales rep to agree buying OFF ebay makes more sense. This has probably happened for the first time in TUG.
 

piyooshj

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Thanks all. You did confirm what I expected. We will be rescinding.



We thought about that, but I think we'd rather upgrade down the line, rather than start off too big - the kids could use the couch bed in a 1br for a few years as well. Does that make sense?
YES precisely why I bought 4800 pts as well since I have young kids and sofa bed should be good for now. Less upfront investment with 4800 pts, BUT I agree in the long run 7k pts gives more bang for the buck since MFs for 2BR is slightly higher then 1BR. For flaminto 855 vs 925. It all boils down to how much one wants to invest upfront vs recoup over the time.
 
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karinlynbe

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Upgrading down the line will add more maintenance fees

Thanks all. You did confirm what I expected. We will be rescinding.



We thought about that, but I think we'd rather upgrade down the line, rather than start off too big - the kids could use the couch bed in a 1br for a few years as well. Does that make sense?
I would suggest you buy more points now instead of upgrading down the line. Because you are buying on the secondary market, you cannot just "upgrade", you'll have to buy another unit in Hilton and then be stuck with double maintenance fees. By buying as many points as you can for the smallest unit (i.e. 1 bedroom platinum) you will get the most bang for your buck.....especially if you are using it for exchanges.
 
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