New Purchase Opinions

[Daniel Falknor]

Recently went to a DRI presentation and signed up for the new points system they have. It was 5000 points a year for 10 years at a cost of $8750. Maintaince fees will bring a total cost around $17-18k depending on the yearly increases. Since this is my first time buying a time share I am curious if this was a good deal or not. Any pros/cons advice appreciated. I just purchased yesterday so I am within my cancelation timeframe for AZ.

 

[Karen G]

If you have any questions whatsoever about what you bought, rescind your purchase now while you still can. Do more research. Check the resale market. The deal you got will still be there if, after you've done your research, you still think it's a good deal. What other purchase would you make for $8750 without doing some research and just believing whatever the salesman told you? Probably none!

Don't go back to the salesman. He'll tell you whatever he can to keep the sale. Follow the instructions in your purchase contract exactly. Send your simple rescission letter by certified mail so that you have a receipt from the post office proving that you rescinded in time. Then relax! Take your time to learn all you can about timeshares--you've come to the right place at TUG! Decide what system is best for you, and then make your purchase as an informed buyer.

 

[Iggyearl]

Diamond Resorts is notorious for making verbal representations and commitments that fall short of reality. The AZ. Attorney General had an $800K settlement with them a few years ago - based on hundreds of complaints. Karen's advice is spot on. Send in your letter and start studying. I would also read the specifics of your contract and see what it really says. If it is not in the contract - it doesn't exist. Verbal representations mean nothing. I would also ask to know what 5000 points gets you. It may not be what you need or want. Many timeshare companies sell "cheap" contracts to get people in the door, then up-sell because what the customer gets is not what the customer wants.

 

[Daniel Falknor]

Thanks for the replys. The 5000 points can get you a few different options depending on how you use them. Less than 60 days out it’s half the points. They say you can get a week for around 2500 but I’m sure that’s not across the board.

 

[Daniel Falknor]

If you have any questions whatsoever about what you bought, rescind your purchase now while you still can. Do more research. Check the resale market. The deal you got will still be there if, after you've done your research, you still think it's a good deal. What other purchase would you make for $8750 without doing some research and just believing whatever the salesman told you? Probably none!

Don't go back to the salesman. He'll tell you whatever he can to keep the sale. Follow the instructions in your purchase contract exactly. Send your simple rescission letter by certified mail so that you have a receipt from the post office proving that you rescinded in time. Then relax! Take your time to learn all you can about timeshares--you've come to the right place at TUG! Decide what system is best for you, and then make your purchase as an informed buyer.

Thank you that’s sounds advice. We’re going to send the letter.

 

[nuwermj]

The vast majority of people in this forum believe you are better-off buying resale points, and I fully agree. In most cases resale points give you access to the same accommodations for a very low amount of money. It is my view, however, that you should stay away from resale points in the Diamond network, because there are too many restrictions placed on the points. Look at resale options in any other system first.

5,000 points is not much in the Diamond system. One week, once a year in a studio unit or some one-bedroom units. If you let us know more about your needs, we can help more on your options.

 

[geist1223]

We are DRI Platinum Members. The folks are correct that 5,000 Points does not get you a lot, unless you are Booking less than 60 days before check in. The folks are also correct that there are major restrictions on resell Points. You can only use them in their Home Collection. So if you buy resell Points in the US Collection you can not use them to Book Hawaii, Europe, Asia, or South Pacific.

One trick if it still works is to first buy let's say 10,000 resell DRI Points (many times you can get them for almost free) then buy 5,000 Points from DRI and have your 10,000 Points rolled into your DRI 5,000 Point Account. But you have to own and have in your name the 10,000 resell Points before you buy from DRI.

 

[applepie]

I paid $17,000 for 7,500 points on the 10 year plan. My fees are $1100 a year, but they pay the club dues the first 2 years -- so, $800ish. My start date isn't until 2020. You have 3 or 4 home resorts, even though you are in the US Collection. So, this means that at 13 months, I can book at one of those home resorts. Otherwise, I have to wait 10 months to book anywhere else. When I looked at the directory of where I could go with 7,500 points, that isn't a lot of points. I would be able to stay one week at a Papakea resort plus one week at a hotel room/studio in Sedona. I might not be able to get availability for a 5,500 point week in Hawaii, and it definitely won't be in High or Peak season. The money has been spent, and I'll definitely use my points and enjoy myself. 5,000 points would be 2 weeks at a studio in Sedona during mid-season or low-season. Or maybe one week in a 1 bedroom during that period of time. It isn't enough points for a week in Hawaii.

The bonus is that they gave me a dream vacation where they are paying my way for a vacation including airfare and hotel to the big island. It is a hotel room, and they said it is oceanfront. I had options to choose from. We'll see if that is honored when I show up later this year. I had the flight take me back later in the week so I could stay 2 more days. It really makes my investment closer to $13,000 for those points.

If you aren't a silver, gold, or platinum member, you don't get the upgrades, and you don't get the super reduced rates on points booking within 60 days (if memory serves).

How they get you is they have you attend an Event of Lifetime presentation where they "teach you how to use your benefits." It is a sales presentation where they tell you that your price per point is retain at $9 per point. But, since they didn't give you the option to convert, they are going to give you a special deal at $3.50 or so a point. They give you another dream vacation as well. So, you will have two of them.

Folks are right. These deals are not available only for the period of time they tell you. You don't want to purchase that 5,000 points and think that you are getting something you aren't because you will be disappointed later. Ideally, I would have liked to have had 1 week in Hawaii and 1 week in Sedona. I am really getting 2 or 3 weeks in Sedona in a studio or 1 week in a 1 bedroom and 1 week in a studio. That keeps me at break even pricing over 10 years where I could have just paid for the room on Expedia. I did go into it knowing that I would likely just break even if I was lucky with the purchase.

You will feel better about a purchase if you are fully aware of everything. My own journey is that I was up and down about the offers they made me, and I made a lot of assumptions. When I arrived at the sales meeting, the sales people weren't able to explain how I could use my points for 3 years instead of 2 years, so I felt like I had been lied to. I had to dig in and do the research to figure out what they meant and found out I wasn't lied to. There is so much information in those presentations that it really does require some contemplation to drill into it and fully understand.

All in all, I am happy with my decision and may convert to permanent ownership later, but I definitely want to try it out first.

Good luck with your decisions!

 

[trader14]

the resale value of these timeshare are less than zero on ebay - i was offered a property in the hawaii club for free (to buy it from the developer would have cost over $110,000) and received free use of it for 2019 (value of almost $2k) and after reading this forum and this article decided this is not the type of company i would want to do business with. i own with marriott and vistana (the old starwood vacation club) and am typing this from the westin kaanapali where i traded in my orlando timeshare for a oceanfront unit. what reason do you think there is absolutely no resale value in diamond international on ebay...is that really a wise use of your money???? https://www.redweek.com/forums/messages?thread_id=20885;page=1;query=

 

[R.J.C.]

Recently went to a DRI presentation and signed up for the new points system they have. It was 5000 points a year for 10 years at a cost of $8750. Maintaince fees will bring a total cost around $17-18k depending on the yearly increases. Since this is my first time buying a time share I am curious if this was a good deal or not. Any pros/cons advice appreciated. I just purchased yesterday so I am within my cancelation timeframe for AZ.

The 10 year lease is something new by Diamond. If you want to delve into the timeshare world but not sure you want it for life then it is a good option. I have been a timeshare owner for 30 years and with Diamond as a points owner for 11 (since they bought out Sunterra). I have been happy with my purchases and enjoy the resorts and locations.

 

[R.J.C.]

Diamond Resorts is notorious for making verbal representations and commitments that fall short of reality. The AZ. Attorney General had an $800K settlement with them a few years ago - based on hundreds of complaints. Karen's advice is spot on. Send in your letter and start studying. I would also read the specifics of your contract and see what it really says. If it is not in the contract - it doesn't exist. Verbal representations mean nothing. I would also ask to know what 5000 points gets you. It may not be what you need or want. Many timeshare companies sell "cheap" contracts to get people in the door, then up-sell because what the customer gets is not what the customer wants.

Depending on when and where you want to go, what size unit you want, when you book, and what sales are going on, 5k points can get you a lot or next to nothing. Too many variables to make an accurate assessment.

 

[R.J.C.]

The vast majority of people in this forum believe you are better-off buying resale points, and I fully agree. In most cases resale points give you access to the same accommodations for a very low amount of money. It is my view, however, that you should stay away from resale points in the Diamond network, because there are too many restrictions placed on the points. Look at resale options in any other system first.

5,000 points is not much in the Diamond system. One week, once a year in a studio unit or some one-bedroom units. If you let us know more about your needs, we can help more on your options.

Dirty (resale) points are great if you get them in the right collection, only want to timeshare, and are not worried about the perks that a certain status will give you.

 

[nuwermj]

Dirty (resale) points are great if you get them in the right collection, only want to timeshare, and are not worried about the perks that a certain status will give you.

Yes, resale points are great. But not Diamond resale points. Resale points in almost any other system are better than Diamond's resale points. In particular, Diamond's resale points are expensive compared to other systems; they're balkanized into separate trust funds; and, perhaps most importantly, they cannot be used with any exchange company.

 

[R.J.C.]

Yes, resale points are great. But not Diamond resale points. Resale points in almost any other system are better than Diamond's resale points. In particular, Diamond's resale points are expensive compared to other systems; they're balkanized into separate trust funds; and, perhaps most importantly, they cannot be used with any exchange company.

I was comparing resale points to developer purchased points. I have no knowledge of other timeshare companies and this is a Diamond thread after all. With over 50 resorts in the US Collection spread across the US and in St Martin, there is a lot to be said for acquiring resale points for free.

 

[DRIless]

Thanks for the replys. The 5000 points can get you a few different options depending on how you use them. Less than 60 days out it’s half the points. They say you can get a week for around 2500 but I’m sure that’s not across the board.

There seem to be fewer and fewer resorts where they offer the 60days out half off. NO KIDDING
In the day it was every Sunterra or then Diamond Resort that was company managed (not affiliated). NOW its relatively few resorts and even those may not be discounted 60days before a high demand/high points time period even if they have availability remaining. They probably didn't explain it that way....
Examples:
ORLANDO only Mystic Dunes is usually discounted
VEGAS only Carriage House is usually discounted

 

[DRIless]

Depending on when and where you want to go, what size unit you want, when you book, and what sales are going on, 5k points can get you a lot or next to nothing. Too many variables to make an accurate assessment.

Usually next to nothing for OP's calculated $1,800/yr annual cost on 10yr use.

 

[youppi]

There seem to be fewer and fewer resorts where they offer the 60days out half off. NO KIDDING
In the day it was every Sunterra or then Diamond Resort that was company managed (not affiliated). NOW its relatively few resorts and even those may not be discounted 60days before a high demand/high points time period even if they have availability remaining. They probably didn't explain it that way....
Examples:
ORLANDO only Mystic Dunes is usually discounted
VEGAS only Carriage House is usually discounted

You are right that they limit the number of resorts discounted at 59 days but you can find some good deal like this sometime
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Scenic View(4), 23-MAR-2019 to 30-MAR-2019, 50%, 3250
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Scenic View(4), 24-MAR-2019 to 31-MAR-2019, 50%, 3250
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Deluxe Ocean View(4), 26-MAR-2019 to 02-APR-2019, 50%, 6325
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Scenic View(4), 12-APR-2019 to 19-APR-2019, 50%, 4500
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Scenic View(4), 13-APR-2019 to 20-APR-2019, 50%, 4500
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Ocean View(4), 19-APR-2019 to 26-APR-2019, 50%, 5750
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Ocean View(4), 20-APR-2019 to 27-APR-2019 to 50%, 5750
Hawaii, US, Ka'anapali Beach Club, 1 Bedroom Ocean View(4), 21-APR-2019 to 28-APR-2019, 50%, 5750
Hawaii, US, The Point at Poipu, 2 Bedroom Ocean View(6), 24-MAR-2019 to 31-MAR-2019, 50%, 5750
Hawaii, US, The Point at Poipu, 2 Bedroom Ocean View(6), 25-MAR-2019 to 01-APR-2019, 50%, 5750
Hawaii, US, The Point at Poipu, 2 Bedroom Ocean View(6), 26-MAR-2019 to 02-APR-2019, 50%, 5750
Hawaii, US, The Point at Poipu, 2 Bedroom Ocean View(6), 27-MAR-2019 to 03-APR-2019, 50%, 5750
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 13-APR-2019 to 20-APR-2019, 50%, 5500
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 14-APR-2019 to 21-APR-2019, 50%, 5500
Hawaii, US, The Point at Poipu, 2 Bedroom Ocean View(6), 14-APR-2019 to 21-APR-2019, 50%, 8000
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 19-APR-2019 to 26-APR-2019, 50%, 5500
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 20-APR-2019 to 27-APR-2019, 50%, 5500
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 21-APR-2019 to 28-APR-2019, 50%, 5500
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 26-APR-2019 to 03-MAY-2019, 50%, 4250
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 27-APR-2019 to 04-MAY-2019, 50%, 4250
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 28-APR-2019 to 05-MAY-2019, 50%, 4250
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 29-APR-2019 to 06-MAY-2019, 50%, 4675
Hawaii, US, The Point at Poipu, 2 Bedroom Garden View(6), 30-APR-2019 to 07-MAY-2019, 50%, 4675