New mvc owner

[Binaryslave]

Hi all! New Marriott vacation club owner. I only bought a basic package with 2000 points as my wife and I will only do big trips every few years.

That said, what is your experience? Will 2000 points buy us much? We also signed up for Amex bonvoy brilliant card as we were told use it like a debit card pay it off rack up points. Use the bonvoy points for airfare and use my vacation club points for lodging. Does this plan make sense? I'm not much of a couponer so looking for what makes sense.

Can anyone share any advice/wisdom? Should we buy more points? Is there a better card for airfare? Trying to afford nice vacations with the family without throwing away all my money.

Thanks! Hope we didn't make a mistake buying this.

 

[Fasttr]

Here is the points chart to give you an idea of point needs at various resorts, seasons, villa size and view.

https://vacationpointexchange.com/pointschart/points_charts_2021.pdf

Note.... you can always rent additional points, in any year you need them, from other owners here... www.vacationpointexchange.com

 

[dioxide45]

Thanks! Hope we didn't make a mistake buying this.

How long ago did you make your purchase?

 

[CPNY]

Hi all! New Marriott vacation club owner. I only bought a basic package with 2000 points as my wife and I will only do big trips every few years.

That said, what is your experience? Will 2000 points buy us much? We also signed up for Amex bonvoy brilliant card as we were told use it like a debit card pay it off rack up points. Use the bonvoy points for airfare and use my vacation club points for lodging. Does this plan make sense? I'm not much of a couponer so looking for what makes sense.

Can anyone share any advice/wisdom? Should we buy more points? Is there a better card for airfare? Trying to afford nice vacations with the family without throwing away all my money.

Thanks! Hope we didn't make a mistake buying this.

You made a mistake depending on how much you paid and if you bought resale or not.

 

[davidvel]

If you don't know what the points will get you it did not make sense to buy.

Have you ever spent $20,000 before but you didn't know what you were buying? Think about that a few times.

Rescind if you still can, you can always buy the same thing again, but I doubt you'll want to. The credit card has nothing to do with yiur purchase, anyone can get it.

 

[Binaryslave]

We bought it last week. It goes into full effect in May

We paid just shy of 20k.

They showed us cards of 2 week Hawaii trips for 2300 points. I knew it was marketing gimmick but was thinking it would buy a week and we could go say every 2 years for 2 weeks.

The thought of paying it off was appealing as they said we could will to our kids and we always own the 2000 points just pay the maintenance fees around 160 per month.

 

[davidvel]

We bought it last week. It goes into full effect in May

We paid just shy of 20k.

They showed us cards of 2 week Hawaii trips for 2300 points. I knew it was marketing gimmick but was thinking it would buy a week and we could go say every 2 years for 2 weeks.

The thought of paying it off was appealing as they said we could will to our kids and we always own the 2000 points just pay the maintenance fees around 160 per month.

Please rescind! I beg you. Send letter tomorrow morning per instructions in your papers. You'll have time to figure it all out. If you don't you're stuck for life and will be back here complaing like so many others.

 

[CPNY]

We bought it last week. It goes into full effect in May

We paid just shy of 20k.

They showed us cards of 2 week Hawaii trips for 2300 points. I knew it was marketing gimmick but was thinking it would buy a week and we could go say every 2 years for 2 weeks.

The thought of paying it off was appealing as they said we could will to our kids and we always own the 2000 points just pay the maintenance fees around 160 per month.

If you can rescind please send in the paperwork to do so first thing in the morning. You can buy the same amount of points resale and save $10,000

 

[Binaryslave]

I passed the 3 day rescind window so I'm stuck right?

What is the exit strategy if we didn't want this down the road?

What are the gotchas that we should watch out for that makes you think we would regret this? Is there another time share we should look at or stay away from all timeshares?

Thanks for the advice!

 

[Binaryslave]

They gave us 4000 points as a bonus and no fees for first year.

I'm concerned about buying points from someone online as I'm not well versed in how it works but would like to learn.

 

[dioxide45]

What state was it purchased in? I don't know what state only has a three day rescission period. In Florida it is 10 days. Nevada is 5.

Here is a list of the rescission periods for each state. No Marriott timeshares in one with only a three day rescission period.

Timeshare Cancellation Rights and Special Protections: 50-State Chart

How long do you get to cancel a timeshare contract? Find out in our 50-state chart of timeshare laws.

www.nolo.com

 

[Binaryslave]

We are in Florida and purchased in Florida.

Other than price do you not think the mvc is worth the money?

I like the thought of their program where you can rent resorts 500.00 for the week without using your points. Has anyone used this? How does it work out?

 

[jwalk03]

You should absolutely rescind! You way way overpaid! You need to rescind and then do a lot of research before jumping into anything. Buying resale would save you thousands and thousands of dollars!!

what state did you buy in? Most states have a longer recession period than 3 days. Typically 5-10 days depending on the state. Review the recession instructions in your contract IMMEDIATELY, and follow them exactly to get out!

 

[jwalk03]

We are in Florida and purchased in Florida.

Other than price do you not think the mvc is worth the money?

I like the thought of their program where you can rent resorts 500.00 for the week without using your points. Has anyone used this? How does it work out?

Florida recession period is 10 days. Send a recession letter. You will be glad you did.

 

[davidvel]

We are in Florida and purchased in Florida.

Other than price do you not think the mvc is worth the money?

I like the thought of their program where you can rent resorts 500.00 for the week without using your points. Has anyone used this? How does it work out?

Please don't take this wrong, but you were bamboozled and have little clue where you money went. There is no magical, exit strategy. You pay it off , sell for 7k, or die.You are asking other than the money is it worth it. This makes no sense. Of course if it were free it would be worth it.

There is no such thing as your 500 a week question unless you're talking about garbage ii getaways.

 

[Binaryslave]

What should we do for vacations instead? Just save and go like we have been?

Please share why you say we would be glad we canceled. Trying to know what we got ourselves into

 

[dioxide45]

There is no such thing as your 500 a week question unless you're talking about garbage ii getaways.

I resent that

 

[Binaryslave]

Please don't take this wrong, but you were bamboozled and have little clue where you money went. There is no magical, exit strategy. You pay it off , sell for 7k, or die.You are asking other than the money is it worth it. This makes no sense. Of course if it were free it would be worth it.

There is no such thing as your 500 a week question unless you're talking about garbage ii getaways.

I don't want to sound argumentative. So please don't take it that way just trying to learn/understand. When you pay for vacation, you get nothing back.

In this case if I sell and get 7k back isn't that better than the traditional paying 5k a year for vacation?

Yes the ii getaways is what is was referring to. You don't think they're a good deal?

 

[dioxide45]

What should we do for vacations instead? Just save and go like we have been?

Please share why you say we would be glad we canceled. Trying to know what we got ourselves into

Timeshares are a great vacation product IMO. ALl the people saying rescind (me included) own timeshares. The thing is, you need to know that it is right for you and you are buying the right system for you. Many here will say to buy a Marriott resale week somewhere for pennies on the dollar. You can often buy a Grande Vista Platinum 2BR week for a couple thousand, vs the $20K you spent. The 2,000 points you have will get you into a 2BR Grande Vista in gold season. So as you can see if you only wanted to go to Grande Vista every year, you will be far better owning Grande Vista.

That said, people often want flexibility. WIth a 2BR Grande Vista week, you lose flexibility when compared to points, but you can get much better value out of the week. That of course takes a lot of work, patience and some nail biting.

The general consensus on TUG is; Rescind, Research, Rent, Resale. You only have a limited amount of time (10 days in Florida) to rescind before you are stuck. However, if you rescind you have lots of time to research and determine the best vacation product for you. It might be Marriott, it might be another brand, or it may not be timeshare at all. Best to rescind, do your research and if you still want to buy from Marriott, go back to them and try to get a better price per point by doing a hybrid deal where you can bundle a week and points. You may pay a little more, but you will get more points and the price per point will be closer to $7-$8 vs the $10-$11 you likely paid.

 

[Binaryslave]

Timeshares are a great vacation product IMO. ALl the people saying rescind (me included) own timeshares. The thing is, you need to know that it is right for you and you are buying the right system for you. Many here will say to buy a Marriott resale week somewhere for pennies on the dollar. You can often buy a Grande Vista Platinum 2BR week for a couple thousand, vs the $20K you spent. The 2,000 points you have will get you into a 2BR Grande Vista in gold season. So as you can see if you only wanted to go to Grande Vista every year, you will be far better owning Grande Vista.

That said, people often want flexibility. WIth a 2BR Grande Vista week, you lose flexibility when compared to points, but you can get much better value out of the week. That of course takes a lot of work, patience and some nail biting.

The general consensus on TUG is; Rescind, Research, Rent, Resale. You only have a limited amount of time (10 days in Florida) to rescind before you are stuck. However, if you rescind you have lots of time to research and determine the best vacation product for you. It might be Marriott, it might be another brand, or it may not be timeshare at all. Best to rescind, do your research and if you still want to buy from Marriott, go back to them and try to get a better price per point by doing a hybrid deal where you can bundle a week and points. You may pay a little more, but you will get more points and the price per point will be closer to $7-$8 vs the $10-$11 you likely paid.

Thank you so much for this information! They unfortunately charged us 14.26 per point

The appeal of the program was to help us do our bucket list vacations. Paris, Italy, Hawaii virgin islands to name a few. Saving, it feels out of reach. Paying a little and doing points puts it all within reach provided the marriott bonvoy points buy us airfare.

 

[Pamplemousse]

I don't want to sound argumentative. So please don't take it that way just trying to learn/understand. When you pay for vacation, you get nothing back.

In this case if I sell and get 7k back isn't that better than the traditional paying 5k a year for vacation?

Yes the ii getaways is what is was referring to. You don't think they're a good deal?

I would say rescind as others have advised and then do a lot of research and decide what is best for you!

With TS you often can‘t just decide you take a trip and book it like with a hotel- there Is limited availability especially if you travel on school breaks which are high demand- and 2000 points is not going to get you a 2Br in Hawaii, the MVC property in France is an hour outside Paris and there is no MVC in Italy.

I am not advising against TS ownership- This is how we’ve travelled with our kids ( youngest is about to graduate college!) and we have been to Hawaii twice, MVC Paris-Disney, Aruba, St Thomas and all over the continental US with parents and kids getting a good nights sleep and not breaking the bank. I mostly did this exchanging my MVC week on interval international. I do have some points now which I have mostly been using to add extra nights. I wouldn't hesitate to rent more points if I needed them but I won’t buy more because it’s tough to balance having just the right amount to use before they expire.
Good luck- don’t give up on TS but do think it though.

 

[dioxide45]

Thank you so much for this information! They unfortunately charged us 14.26 per point

The appeal of the program was to help us do our bucket list vacations. Paris, Italy, Hawaii virgin islands to name a few. Saving, it feels out of reach. Paying a little and doing points puts it all within reach provided the marriott bonvoy points buy us airfare.

At $14.26, you certainly need to rescind. That is full retail and they should have better discounts right now, even on a 2K package. That said, any deal they offer you won't be as good as you can get resale and resale points work just the same as direct from Marriott.

 

[CPNY]

Thank you so much for this information! They unfortunately charged us 14.26 per point

The appeal of the program was to help us do our bucket list vacations. Paris, Italy, Hawaii virgin islands to name a few. Saving, it feels out of reach. Paying a little and doing points puts it all within reach provided the marriott bonvoy points buy us airfare.

Follow the rescission instructions and send the postmarked letter certified USPS and hold onto the proof of postmark. It’s also important that whoever is named on the contract, must be named and sign the rescission letter.

Once it’s sent, you need to research where you want to go and where you want to stay. You may find that MVC isn’t the system for you. You may find it is. Either way, learn all of the systems and what resale restrictions there are when buying. Congrats on saving a ton of money

 

[BJRSanDiego]

Thank you so much for this information! They unfortunately charged us 14.26 per point

The appeal of the program was to help us do our bucket list vacations. Paris, Italy, Hawaii virgin islands to name a few. Saving, it feels out of reach. Paying a little and doing points puts it all within reach provided the marriott bonvoy points buy us airfare.

I own 5 deeded weeks and have figured out how to make them work. The total cost for buying all five was around $10K.

Paris - There is only one timeshare (or maybe none) there. Marriott has a timeshare about 20 miles outside of the city that is easy to exchange into. There are also affordable getaways within Paris. But the Marriott is an easy exchange with a deeded week.

Virgin Islands. I have booked these using a 1 BR Marriott deposit and snagged a 2 BR St. Thomas Marriott.

Hawaii - using my deeded weeks (1 BR) I booked a 1 BR Kauai Westin Princeville and a Waiohai 2 BR. In the past I have also tried and succeeded in exchanging into Point at Poipu and Maui Marriott Ocean club.

I take my 2 BR deeded weeks and split into 2 units - a 1 BR and an efficiency. I pay around $1600 MF for my 2 BR. So I figure that the cost for the 1 BR is around $945 and the efficiency is around $745. (That includes the $90 split fee). So I booked Waiohai for $945 which is equal to about 1550 points. If I was on the points system I think that it would have been around 3000 or 3500 points.

I did each of these exchanges using either an efficiency or 1 BR Palm Desert deposit. If I was paying in points I would have to pay a bunch. But I've got resale weeks. If you use the "best principles" for exchanging you can do well. Reserve the highest demand week. Deposit it. Request shoulder season at least 1 year in advance with a half dozen different resorts. Wait.

So, my advice is to look into buying deeded weeks resale. It take a bit more effort or knowledge to make it work but I consistently get good trades.

 

[rthib]

Just so you know, you can buy the exact same points you bought resale for $5-6/point ($2 to $3 + $3 junk fee) So regardless of the week vs point argument, you, overpaid. Luckily you found Tug and can do some research and buy what is right for you.
If you want to do points, look at the charts, determine the correct amount you want and then look at resale market.
unlike with weeks where there are some difference in what you can do with resale vs regular, resale points once you pay the $3 fee are just like regular points,