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New Timeshare Purchase good idea or bad idea?

Joyfuljam

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Purchased Timeshare thru HICV- 50,000 pts for $11,700. Points are awarded annually.
$408 Assesment Fee. Given a bonus of 100,000 pts.
Deeded property is Orange Lake West.
Sister and bro-n-law have Timeshare thru same developer and have had it for years. Have been traveling with them, but want to be able to bring more people when we vacation together and be able to vacation alone.
 

Panina

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Purchased Timeshare thru HICV- 50,000 pts for $11,700. Points are awarded annually.
$408 Assesment Fee. Given a bonus of 100,000 pts.
Deeded property is Orange Lake West.
Sister and bro-n-law have Timeshare thru same developer and have had it for years. Have been traveling with them, but want to be able to bring more people when we vacation together and be able to vacation alone.
Hi welcome to TUG. Rescind if you just got it, don’t delay as if you don’t rescind in time you will not be able to it. You can get resale for free. Stick around tug and learn before you buy to make sure you get what is best for you.
 

Joyfuljam

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Hi welcome to TUG. Rescind if you just got it, don’t delay as if you don’t rescind in time you will not be able to it. You can get resale for free. Stick around tug and learn before you buy to make sure you get what is best for you.
Thank you so much! We have until Tuesday.
 

Gypsy65

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I’m relatively new here but based on what you got. I’d rescind

We own at HICV and love it. Use it quite extensively but you can put a better package together
Based on your needs and wants you
“Might” have to purchase some from the developer but do your research first and then decide

The timeshares will ALWAYS be available
 

Joyfuljam

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I’m relatively new here but based on what you got. I’d rescind

We own at HICV and love it. Use it quite extensively but you can put a better package together
Based on your needs and wants you
“Might” have to purchase some from the developer but do your research first and then decide

The timeshares will ALWAYS be available
Thank you so much! I’m creating the letter and will take it to the post office first thing in the morning.
 

lvtraveler

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I truly appreciate your honest feedback. Rescinding so I can learn more and become better informed.
It will be the best decision you’ve ever made. I found TUG 2 days after making a direct deal and submitted our cancellation within time after finding multiple better resale deals....and getting much more educated. Welcome to the family!


Sent from my iPhone using Tapatalk
 

Joyfuljam

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It will be the best decision you’ve ever made. I found TUG 2 days after making a direct deal and submitted our cancellation within time after finding multiple better resale deals....and getting much more educated. Welcome to the family!


Sent from my iPhone using Tapatalk
Thank you so much!
 

jackio

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50,000 HICV points will not be enough for a Prime week in a 1BR. Example, Las Vegas May to July requires 98,000 points. They have last minute discounted weeks, but that is only the leftovers. If you want to be in the points system, you must buy resale at South Beach, Lake Geneva Or Tennessee . Any other resorts purchased resale will revert back to weeks.
 

Joyfuljam

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Thank you! This is good to know. Now we need to educate ourselves on how to purchase resale.

We don’t want anything that converts to weeks. We purchased at the South Beach Resort Service Center. The rescinded contract says Resort Access: West Village; Unit Type: OL Trust; Club Conversion: Yes. I was wondering why they sold us Florida. I asked and was told they have a system with a “claw” and it just pulls randomly. I wasn’t sure what to think about it because I know my BS purchased (upgraded) to one with Resort Access in Scottsdale, AZ and the the maintenance was low.

Of course they SOLD us on the idea of MAXtime vacation savings with e-mail exclusive deals for Club members (jump fast because when they’re gone, they’re gone). They tell you about the last minute exchange offerings with RCI and II. Then they reel you all the way with the Exchange Affiliates where you pay cash instead of using points if you book 45 days or less— the cost is equivalent of one night’s stay for an entire week.

It appears that we have a lot to learn.
 
Last edited:

LannyPC

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Of course they SOLD us on the idea of....

It appears that we have a lot to learn.
Just remember, a lot of what these sales people tell you is untrue.

Yes, there is a lot to learn before buying (or even accepting for free) a timeshare.

The other option you can look into is just renting, especially if you are unsure if you want to buy. Many places in FL can be rented for less than what an owner would pay in MFs.
 

Joyfuljam

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Thank you! We want the option of traveling to other places. Florida is just where they gave us.

My sister and bro-n-law have a ton of points and we either travel with them or use theirs. We just thought it would be a good idea to piggy back off of them so more of our family could travel with us, but sounds like we might just pay them to use theirs until their children start using it. We are not in a rush to purchase and have time to educate ourselves before diving in again.

Rescission letter was sent out via 1 day express delivery this morning and should arrive at OLCC by 3pm tomorrow. Fingers crossed they receive it and accept it in time.
 

Karen G

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Rescission letter was sent out via 1 day express delivery this morning and should arrive at OLCC by 3pm tomorrow. Fingers crossed they receive it and accept it in time.
When they receive the letter is of no consequence. The date you mailed the letter is the key. If you have a receipt showing that you mailed it within the rescission period, you're fine.
 

TUGBrian

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grats on finding TUG in time to save a fortune!
 

Joyfuljam

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When they receive the letter is of no consequence. The date you mailed the letter is the key. If you have a receipt showing that you mailed it within the rescission period, you're fine.
Bless you! This calms my nerves so much. Thank you!
 

LannyPC

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Thank you! We want the option of traveling to other places.

Rescission letter was sent out via 1 day express delivery this morning and should arrive at OLCC by 3pm tomorrow.
A couple of things here. If you "want the option of traveling to other places", then I gain point out the option of just renting. It's usually easier to find what you want, where you want, and when you want via a rental rather than owning and exchanging. Even if you have to pay a couple of hundred dollars above the MFs, that will be compensated by not paying the exchange fees or having to go through the headaches of getting rid of your TS if you find that you no longer want/need it.

As for your rescission letter, as efficient as one-day express delivery might be, make sure you use the method stipulated in your owner's contract. It will likely tell you to send it via certified mail. That way you can have a receipt to prove you mailed it on time.
 
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