New purchase, should i cancel?

[justfranzwa]

I purchased a HGV package here in Hawaii and I have 6 days to cancel it. It was about 16k with $908 yearly in fees. I get 5400 points bi annually.

I was mostly interested in the cash rates to travel last minute around the world. But upon reading reviews, availability seemed to have been a major concern for many.

I'm just looking for advice if I should just cancel it or move forward with the purchase.

Any help is appreciated. Thank you all!

 

[amycurl]

Rescind now. Read all of the HGVC "sticky" threads here, and then buy what you want resale. Save yourself thousands! But, most importantly....RESCIND NOW.

 

[zentraveler]

I will let the HGV experts answer this but I am sure you will get a lot of rescind advice. It will be good advice; do a lot of reading and research and you will be in better position to get what you want and save money.

 

[justfranzwa]

I

Rescind now. Read all of the HGVC "sticky" threads here, and then buy what you want resale. Save yourself thousands! But, most importantly....RESCIND NOW.

Do have one question, they claim that if I purchase resale, I will be ineligible for cash rates. I just wanted to see of that is true as well. But I'm pretty sure I'll be canceling 99%

 

[dioxide45]

Best advice is to always cancel. The same deal will be available later but you only have a set time limit to rescind. The basic rule is Rescind, Research, Rent, Resale

 

[letsgobobby]

rescind rescind rescind

I am 100% resale owner and have access to cash (open season) rates

For $16,000 you could own 2-3 deeds worth 20k++ points annually

 

[HuskerATL]

I

Do have one question, they claim that if I purchase resale, I will be ineligible for cash rates. I just wanted to see of that is true as well. But I'm pretty sure I'll be canceling 99%

The cash rate is called open season and you get it with resales. You do not get in Max but you would save thousands.... About 90% cheaper. Rescind and research. You can always buy retail later if you want.

 

[HuskerATL]

For $16,000 you could own 2-3 deeds worth 20k++ points annually

Or more.... That is more than the 6 Craigendarroch Lodges that we bought.

 

[justfranzwa]

Thank you to everyone on here. I will rescind, research, and buy resale.

I'm very thankful for all the fast and clear responses. I'm excited to get into this but in the right way.

 

[amycurl]

Good for you! Just focus on following the rescinding instructions *to the letter* and be sure to save your receipt that you mailed it within the window. HGVC, by all accounts, will fully rescind the contract with no more worries for you. Good resales are to be had out there; I've been thinking about a 11,000 (old 7,0000) point contract myself, but wanted to let this whole MAX/DRI merger play out a bit longer first.

 

[Mongoose]

I purchased a HGV package here in Hawaii and I have 6 days to cancel it. It was about 16k with $908 yearly in fees. I get 5400 points bi annually.

I was mostly interested in the cash rates to travel last minute around the world. But upon reading reviews, availability seemed to have been a major concern for many.

I'm just looking for advice if I should just cancel it or move forward with the purchase.

Any help is appreciated. Thank you all!

That's not enough points to do much. I purchased 11,200 for $1 on the resale market in Hawaii.

 

[TUGBrian]

grats, you just saved a fortune!

 

[Hobokie]

Agree with all the advice above, RESCIND! I am an HGV owner, I have access to the cash option (it’s called Open Season) and bought my platinum studio plus Elara which gives me 5,600 pts annually for $147.50 off eBay…. My annual MF is $901 INCLUDING the $199 club dues.

You can do waaaaay better! Welcome to TUG! Research and ask questions, we will help you find answers!

 

[Nowaker]

It was about 16k with $908 yearly in fees. I get 5400 points bi annually.

Compare to me paying ~$1500 in closing costs to acquire a 8000 annual Elara with $900-something MFs, same amount to acquire a a 5440 annual Blvd with $700-something MFs, or 8400 annual Trump with $1050-something MFs... You get the drill. Timeshares with okay MFpp can be acquired for cheap, and with excellent MFpp (like Flamingo 11200 pts at $1150 MF, or Blvd 11200 at $950 MF) for a reasonable $5K.

 

[HaberHGV]

Buying resale, you don't get the perks of buying direct. And also, you can't trade in your resale contracts for bigger contracts with Hilton. You have to just keep adding contracts if you want more points...so, yes, you can save money on the initial purchase, but if you buy multiple resale contracts, you have multiple MFs for much longer than a financed purchase of a direct contract will be, IMO.

 

[HuskerATL]

Buying resale, you don't get the perks of buying direct. And also, you can't trade in your resale contracts for bigger contracts with Hilton. You have to just keep adding contracts if you want more points...so, yes, you can save money on the initial purchase, but if you buy multiple resale contracts, you have multiple MFs for much longer than a financed purchase of a direct contract will be, IMO.

So, most of this is false. The only perk that you don't get is Max and you can trade in a resale the same as a retail to upgrade your deed. On our last trip to Hawaii, they offered to upgrade our resale Blvds, that we paid $3k for each. They offered the original purchase price of $20k each so $40k toward a retail Kohala Suites and Max. We turned it down.

 

[dioxide45]

Buying resale, you don't get the perks of buying direct. And also, you can't trade in your resale contracts for bigger contracts with Hilton. You have to just keep adding contracts if you want more points...so, yes, you can save money on the initial purchase, but if you buy multiple resale contracts, you have multiple MFs for much longer than a financed purchase of a direct contract will be, IMO.

Are you an HGV Salesperson?

 

[HuskerATL]

Are you an HGV Salesperson?

It does sound like something that a HGV salesperson would say.

 

[justfranzwa]

So, most of this is false. The only perk that you don't get is Max and you can trade in a resale the same as a retail to upgrade your deed. On our last trip to Hawaii, they offered to upgrade our resale Blvds, that we paid $3k for each. They offered the original purchase price of $20k each so $40k toward a retail Kohala Suites and Max. We turned it down.

I just finished the cancelation, and they were still insistent on the "cash pricing" no longer being available with resale after the merger went through.

Just trying to get fact from fiction, and uncover any deceptive sales tactics.

 

[justfranzwa]

Are you an HGV Salesperson?

I was thinking the same thing. New profile with that response.

 

[HuskerATL]

I just finished the cancelation, and they were still insistent on the "cash pricing" no longer being available with resale after the merger went through.

Just trying to get fact from fiction, and uncover any deceptive sales tactics.

We have 1 retail and 8 resale and still have access to Open Season, what you are calling "cash pricing". I will let others provide facts that are only resale but so far, I have not heard of anyone who owns in HGVC (resale only, mix, or retail only) not having access to Open Season and the merger was a year ago.

 

[HuskerATL]

they were still insistent on the "cash pricing"

Just to add, the primary benefit of buying into HGV is access to the resorts. All the other stuff; like RCI, Open Season, conversion to HH, etc., are just add-ons. I would not buy for those add-ons because that they can go away anytime. You are buying a week at a resort and that is the only guarantee that you have.

 

[SmithOp]

I just finished the cancelation, and they were still insistent on the "cash pricing" no longer being available with resale after the merger went through.

Just trying to get fact from fiction, and uncover any deceptive sales tactics.

It would be stupid to cut out resale owners, that would cut HGVC revenue on units that might otherwise sit empty.

 

[Mongoose]

Buying resale, you don't get the perks of buying direct. And also, you can't trade in your resale contracts for bigger contracts with Hilton. You have to just keep adding contracts if you want more points...so, yes, you can save money on the initial purchase, but if you buy multiple resale contracts, you have multiple MFs for much longer than a financed purchase of a direct contract will be, IMO.

What is the possible value of those perks? Ask TUG and you will find out that they look good on paper but provide little true value. I have been buying resales for more than 10 years and have saved well over $100K (Hilton, Hyatt, HICV, Worldmark) while only spending $1500. I'm not sure I understand you point regarding MFs. You have to pay them regardless if it is a retail purchase or resale. With Hilton you do lose having access to their Diamond units, however those are not currently up to Hilton standards and have much higher MF's than Hilton. If you buy where you want to go, then its very hard to go wrong with resale.

 

[TheTimeTraveler]

Cancel NOW and get all your questions answered. Then you'll want to go and buy resale!

Use USPS Certified Mail and retain the Postmarked Receipt.





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