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New to HGVC...duped by reps

jhaala

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My fiance and I just bought a TS directly through HGVC and will be sending in our revocation form to cancel the contract. Thankfully I found this site before our 5 day period ended.

We paid $15,490 + $874 maintenance fees for a 2br in Orlando (silver) w/ 3,400 yearly points. Looking at resales, I can find a TS for only $4k with the same points and lower MF's.

We were pretty clueless going into the tour, but think I did ask the right questions. One was about being able to resell, which we were told we could only sell it back directly to HGVC...which they would give us the price we originally paid. I now find out here that they will redirect you to a reseller, which you'll end up only getting resale price...nowhere near the full original price. Being able to sell it back to HGVC at original price was a pretty big selling point for me, but it ended up being a big lie.

Now we are wondering if it's even worth it to purchase a TS at all...even at resale prices. It is just the 2 of us, and when we go on vacation we are usually only in our room to sleep. Is it worth the investment...or would it just be cheaper to just keep booking hotels through places like Travelocity or Expedia? We both own our own businesses, so vacations for us are more spontaneous rather than being planned out months in advance. We both like to go out and explore, not sit around at a hotel...although the Hilton resorts look like great places to stay. The biggest deciding factors for us were the points to travel when/where we want, and only having to pay the MF's once the deed is paid off. However, it seems like the MF's go up at a very large % each year...but maybe I'm wrong. Also, our vacations tend to end up as 3-4 days, so I'm starting to think the multiple reservation fees would also start to eat into any cost savings.

Would it make more sense for the 2 of us to just keep booking hotels, or to purchase a resale TS at a lower cost?
 

FlyerBobcat

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The fact that you are asking such good questions certainly indicates to me that now is NOT the time to pull the trigger on a Timeshare. Do lots of research here on TUG, and if you have to finance your TS purchase (as you somewhat indicated) -- you really need to think twice (or more :) ).

Also, you used the word "investment". I hope that you mean that in the loose sense, as you have already found that the value of your TS purchase can be far from that....

Good luck.

My fiance and I just bought a TS directly through HGVC and will be sending in our revocation form to cancel the contract. Thankfully I found this site before our 5 day period ended.

We paid $15,490 + $874 maintenance fees for a 2br in Orlando (silver) w/ 3,400 yearly points. Looking at resales, I can find a TS for only $4k with the same points and lower MF's.

We were pretty clueless going into the tour, but think I did ask the right questions. One was about being able to resell, which we were told we could only sell it back directly to HGVC...which they would give us the price we originally paid. I now find out here that they will redirect you to a reseller, which you'll end up only getting resale price...nowhere near the full original price. Being able to sell it back to HGVC at original price was a pretty big selling point for me, but it ended up being a big lie.

Now we are wondering if it's even worth it to purchase a TS at all...even at resale prices. It is just the 2 of us, and when we go on vacation we are usually only in our room to sleep. Is it worth the investment...or would it just be cheaper to just keep booking hotels through places like Travelocity or Expedia? We both own our own businesses, so vacations for us are more spontaneous rather than being planned out months in advance. We both like to go out and explore, not sit around at a hotel...although the Hilton resorts look like great places to stay. The biggest deciding factors for us were the points to travel when/where we want, and only having to pay the MF's once the deed is paid off. However, it seems like the MF's go up at a very large % each year...but maybe I'm wrong. Also, our vacations tend to end up as 3-4 days, so I'm starting to think the multiple reservation fees would also start to eat into any cost savings.

Would it make more sense for the 2 of us to just keep booking hotels, or to purchase a resale TS at a lower cost?
 

Passepartout

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Glad you found TUG in time to rescind. It's SO much easier to tell people to do that instead of telling them how to get at least some value from an uninformed purchase.

For you, rent. there are many TS's that you can rent here in TUG or from many exchange companies for about the maint. fee. The choices are better farther out, but there are some very acceptable rentals available a month or two out. Don't expect Hawaii beach time during school vaca for cheap, though.

The general advice here is 'buy what you'd use at least 2-out of 3 years' if you need to. Don't buy to exchange. Of course, buy resale- there's no such thing as a 'new' timeshare.

TS make a great 'base' to explore an area. We are not ones to hang around the resort, but it's sure nice to have a kitchen and all the other amenities of a condo instead of a hotel room.

Best wishes....

Jim Ricks
 

theo

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Rescission period in FL...

My fiance and I just bought a TS directly through HGVC and will be sending in our revocation form to cancel the contract. Thankfully I found this site before our 5 day period ended.

We paid $15,490 + $874 maintenance fees for a 2br in Orlando (silver) w/ 3,400 yearly points. Looking at resales, I can find a TS for only $4k with the same points and lower MF's.
In Florida, the rescission period is actually 10 calendar days under applicable law (I am asuming that you were in Florida when you bought into this particular Florida property).

I hope you followed the cancellation instructions (spelled out in detail somewhere within your contract documents, as is required by law), precisely and to the letter. If the instructions indicated use of certified mail, that does not mean FedEx, phone calls, UPS, fax or carrier pigeon....

Congratulations on rescinding; it was clearly the intelligent thing to do.
 

jhaala

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Thank you for all the help! We actually purchased it resale through HGVC, which is what made it seem like such a deal at the time...after being shown the huge $34k price tag of ones that are non-resale. We decided to buy simply because it seemed to be a very affordable way to vacation at the time. The property is in Orlando, FL, but the tour we took was in Las Vegas...so we still only have a 5 day rescission period.

As for when I said "investing in", I basically just meant investing in our vacationing...not in a 'seeking profit' sense. We do work a lot and would definitely use the time we had. We put $2,500 down on our TS, so wouldn't need to finance much (if anything) if we bought resale...we would just be paying the maintenance fees (which was the goal when originally buying the TS from HGVC). From what we were being led to believe, once your deed was paid off it would be like staying in $500 Hilton resorts for the price of a Best Western hotel.

For myself personally, it mainly comes down to $ value. I guess I was wrong to assume that it would be cheaper & more convenient to travel using a TS that you are just paying yearly MF's on, than by just booking $100/night hotel rooms online? For us it doesn't really matter if we're staying in a Best Western, or a $500+/night resort, as we would most likely only be there to sleep. Although the HGVC tour did sell us on wanting to "live the nice life" by staying at nice resorts. Travel for us is more spontaneous, so we don't really need to travel during Platinum season. As long as it's not -15 degrees or in the middle of a hurricane, it doesn't matter much to us. We actually prefer to go during off-seasons when there aren't crowds of tourists everywhere.

Also, we would like to start traveling the world. From what I've been reading on here, it seems like the RCI conversions are a pain. HGVC led us to believe that it's as easy as a phone call or going online...you just tell them where you want to visit and they take care of everything for you.
 
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Talent312

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Just be sure to follow the rescission instructions in the contract to the letter. HGVC's legal eagles are more than willing to exploit any minor deviation to reject your notice.

Do not let this experience sour you on timesharing, generally, or on HGVC in particular. One reason to buy in, is that, whatever else is going on in your lives, good or ill, it will insure that you will have some great vacations, and HGVC as a system, is pretty darn good at doing that.

OTOH, if you are willing to settle for Comfort Inn or Days Inn motel type stays, you can save money. But IMHO, its selling yourselves short on the quality side of things.
 

Patri

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The full price vs. resale is bogus. You got the same offer every buyer does. It is their ploy to think you got a bargain. Everyone balks at the first price.
 

Larry6417

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Congratulations!

Now we are wondering if it's even worth it to purchase a TS at all...even at resale prices. It is just the 2 of us, and when we go on vacation we are usually only in our room to sleep. Is it worth the investment...or would it just be cheaper to just keep booking hotels through places like Travelocity or Expedia? We both own our own businesses, so vacations for us are more spontaneous rather than being planned out months in advance. We both like to go out and explore, not sit around at a hotel...although the Hilton resorts look like great places to stay. The biggest deciding factors for us were the points to travel when/where we want, and only having to pay the MF's once the deed is paid off. However, it seems like the MF's go up at a very large % each year...but maybe I'm wrong. Also, our vacations tend to end up as 3-4 days, so I'm starting to think the multiple reservation fees would also start to eat into any cost savings.

Would it make more sense for the 2 of us to just keep booking hotels, or to purchase a resale TS at a lower cost?
First, congratulations on your new life together.

Second, congratulations on your narrow escape from being yet another casualty of timeshare hype. You correctly concluded that your salesman was a liar and wisely rescinded.

Third, I don't believe your present lifestyles are conducive to successful timesharing. Two types of people do very well with timeshares: those who plan 1 -2 years ahead, or those who can travel at a moment's notice. If you plan ahead and deposit early, you can get the best exchanges. Alternatively, if you have a flexible schedule, you can then take advantage of last minute deals such as RCI's Last Call vacations, which are booked a maximum of 45 days in advance. One can get phenomenal deals with Last Call - including Hawaii. However, there is no guarantee that a location you want will be available. You've already said you don't like/want to plan ahead. Also, your schedules sound complex - you both have your own businesses, so travelling through Last Call may be difficult. Also, most timeshares are still booked as weeks, though some point-based timeshares will allow booking of partial weeks. However, booking partial weeks, as you plan to do, is disproportionately expensive.

I respectfully submit that you should not buy a TS, at least not now, especially in this economy. You can rent TS through TUG marketplace, often for less than the cost of the MF, at short notice. You can also book TS/hotels through sites like Expedia or Priceline (I find Priceline yields better prices than Expedia). Your lifestyles and temperments seem better suited to renting hotels or timeshares. If your needs change in the future you can always purchase then.
 

jhaala

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Just be sure to follow the rescission instructions in the contract to the letter. HGVC's legal eagles are more than willing to exploit any minor deviation to reject your notice.
I actually don't think we got the instructions. I looked but all I can seem to find is the revocation form in the booklet. I did, however, notice that the page before that has been ripped out.

The revocation form is just a page for our signatures and contract number, along with the HGVC address to have it sent via registered mail. Maybe I am just missing something and will keep looking.
 

jhaala

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I don't believe your present lifestyles are conducive to successful timesharing
I was actually starting to think that too, but am starting to see the benefits of it now that I can buy at resale. We actually can leave last minute, which is why our vacations end up being so spontaneous...we just decide we want to go take off and go somewhere. However, if we had a timeshare I think we actually would enjoy planning vacations in advance. It does give you something to look forward to. Also, it does seem much easier to travel knowing your room is already paid for.
 

Larry6417

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I was actually starting to think that too, but am starting to see the benefits of it now that I can buy at resale. We actually can leave last minute, which is why our vacations end up being so spontaneous...we just decide we want to go take off and go somewhere. However, if we had a timeshare I think we actually would enjoy planning vacations in advance. It does give you something to look forward to. Also, it does seem much easier to travel knowing your room is already paid for.
If you can leave at the last minute, and you're flexible in your destination, then Last Call vacations from RCI can be a GREAT deal. One option, to get your feet wet in timesharing, is to "lease" RCI points (from a seller in TUG marketplace). I haven't used them personally, but people on this BBS have done so without complaint. To lease the points you pay a transfer/seller fee once and the annual MF for 3 years. At the end of three years you can renew or walk away. With RCI points you can book a Last Call week for 9,000 points or less. You can find surprising TS in Last Call - numerous Mexican and Floridian TS, Las Vegas, Europe, and many others.
 

mocat

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Clarification

I am a RCI points member and I agree with what Larry6417 said with a small clarification. The "Last Call" vacations offered by RCI are available for cash purchase rather than a "points" purchase. What I mean is that if you find a week at a resort which meets your needs and desires, you pay a $$ fee and reserve the week. There are quite a number of these available at different parts of the world depending on the season and the price(s) are very reasonable. These are generally available up to 45 days in advance of your travel date. In addition, RCI offers to points members what is generally termed "Instant Exchanges" which are reservations out of the "weeks" inventory of RCI and are paid for in "points" (with a small additional "reservation fee" paid in cash). These Instant Exchanges are available for up to 45 days in advance of your travel date and cost anywhere from about 6500 to 9000 points for a week. Depending on your schedule, these can be quite attractive. :cheer:
 

Talent312

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I'm resurrecting this thread to mention that HGVC has in the last few days, bestowed upon its members the ability to make RCI reservations online for weekly and nightly stays using their HGVC-points, and apparently "last call" $$ stays (although there are some functionality-kinks reported).

This may be as much about "letting go" some of their call-center personnel as anything, but at least we're now theoretically able to see what they've been seeing.
 
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