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New to HGVC!

chrismsa

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Hi,
I'm a new member here in this forum. I just signed up for the TUG today too. My friends and I went to FL last week and bought the Las Palmeras (LP) HGVC timeshare there. We paid about 24K for 2BR, 5,000 club points, about 1,500 MFs , and they give us 8,600 bonus points. After coming back, I found this site and read some articles and forums. Today, I just mailed out the letter of rescission with registered mail. I think I made the right decision but who knows. My friends are still thinking this is the good deal since the location is good and the suites are being built and will be finished next summer. They contacted the salesperson and below is the answer.
"It may be true that the resell is cheaper but could be with various reasons. The previous owner may not pay the maintenance fees for many years. With the resell site, new owners can only use HGVC resorts and cannot use HGV affiliates/partners such as RCI. In order for the new owner to use, he/she must pay about $5k-$6k to use the partners. HGV always buy back good units that hold value. The reasons HGV decides not to buy back may be due to older timeshare programs or units that owe too much maintenance fees or not an ideal locations. HGV uses the maintenance fees, reserve portions, to renovate rooms and furniture. Resell sites cannot convert club points to HHonor. If club points are not used, then you lose them. No blockout dates with HGV and can be used any weeks during the year. The contract may say week # but only for assigning the deed. The value of the new program has always been going up. The unit would hold its value and HGV would definitely buy back at FMV."

Can anyone please give me any advice? What should I do? Is there any better option? I like to stay with Hilton or HGVC.

Thank you in advance.
 

chriskre

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DVC- SSR, Poly,
Wyndham Las Cascadas
HGVC Tuscany Village
Bluegreen CMV UDI
RCI pts at VVParkway
Enchanted Isle resort.
Rescind! And buy from a broker. They know what gets thru ROFR.
I own 5000 points in Orlando in gold season which I think is what you bought and paid $3,000.
I use RCI and have stayed at the affiliates without a problem.
They are lying.
 

TUGBrian

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congrats on finding TUG in time to rescind and save $24k! you certainly can get FAR more for your 24k buying resale, or conversely get those points far cheaper if that is the package you choose (it likely wont be after other hgvc owners chime in).

also congrats on not only being our first rescission of 2018, but helping us cross over the 9 MILLION DOLLAR mark in confirmed rescissions on the TUG forums!
 

Blues

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If it were me, I'd try to track down the name of the lying agent and turn him/her in. I would hope s/he would be in big trouble with HGVC.

Resale:
Maint fees - same
Use of HGVC and affiliated resorts - same
Conversion to HHonors - same
Date restrictions - none, same

As stated many times here, the only difference between a developer purchase and resale purchase is that the latter is not eligible for Elite status. This is nowhere near enough benefit to justify the major difference in price.

P.S. you should be able to purchase a 5000 point, 2BR gold unit for less than $3K.
 

Arimaas

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Hi,
I'm a new member here in this forum. I just signed up for the TUG today too. My friends and I went to FL last week and bought the Las Palmeras (LP) HGVC timeshare there. We paid about 24K for 2BR, 5,000 club points, about 1,500 MFs , and they give us 8,600 bonus points. After coming back, I found this site and read some articles and forums. Today, I just mailed out the letter of rescission with registered mail. I think I made the right decision but who knows. My friends are still thinking this is the good deal since the location is good and the suites are being built and will be finished next summer. They contacted the salesperson and below is the answer.
"It may be true that the resell is cheaper but could be with various reasons. The previous owner may not pay the maintenance fees for many years. With the resell site, new owners can only use HGVC resorts and cannot use HGV affiliates/partners such as RCI. In order for the new owner to use, he/she must pay about $5k-$6k to use the partners. HGV always buy back good units that hold value. The reasons HGV decides not to buy back may be due to older timeshare programs or units that owe too much maintenance fees or not an ideal locations. HGV uses the maintenance fees, reserve portions, to renovate rooms and furniture. Resell sites cannot convert club points to HHonor. If club points are not used, then you lose them. No blockout dates with HGV and can be used any weeks during the year. The contract may say week # but only for assigning the deed. The value of the new program has always been going up. The unit would hold its value and HGV would definitely buy back at FMV."

Can anyone please give me any advice? What should I do? Is there any better option? I like to stay with Hilton or HGVC.

Thank you in advance.
FYI - late last year we closed on HGVC on the Blvd in Vegas. 5000 gold points, as your unit is. $2500 plus closing costs. MFs are about $900 a year. A bit of background - I knew TUG existed before we went to our presentation (HGVC got me down to Orlando with a $99 3 night/4 day at the Tuscany in Orlando with a sale presentation). I knew I wasn't buying anything at the presentation and when I brought up resale, the sales guy tried to make up stories just like yours did. I think they offered me something like 3100 points EOY for $15k plus costs. Needless to say, I did much better on the resale market. The choice is yours to make, but I wouldn't take anything those sales people say seriously, and I'm sure you'll find just what you are looking for on the resale market.

Good luck.
 

Talent312

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Can anyone please give me any advice? What should I do? Is there any better option? I like to stay with Hilton or HGVC.
They lie like a dog. Do not talk to them. They will say anything to earn a commission.
Do not let these weasels hornswoggle you!

HGVC in it's operation treats resale owners well.
Resale owners get exactly the same fees+benefits of every HGVC owner, 'cept for only one:
Elite status that starts at 14K points (not even our elite owners say is worth paying retail prices).

Buying from the developer is worse than buying a new car. It's value drops by 2/3 at the door.
Buying resale, you get the exact same perks, including RCI... for ~$1 per point (or less).

HGVC is a a good program with quality resorts & great flexibility. I own 2 units.
But the units I own were not bought from HGVC. You can buy on eBay, but I suggest a broker.


.
 

Panina

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Welcome to TUG. So glad you found us in time to save your money.

Was the response of the salesperson in writing or in a recorded message? Or what your friend heard and wrote ?

In writing or recorded message, it should be reported.
 
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GT75

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We paid about 24K for 2BR, 5,000 club points, about 1,500 MFs , and they give us 8,600 bonus points.
Personally, you should be so very happy that you have rescinded for all of the reasons that previous posters have already listed. I will give you another reason, the sales person was trying to unload an off-season or shoulder (gold season) unit. This means that every year you will have paying high yearly MFs for the amount of points received. I also personally think that Las Palmeras has high MFs in general already so I wouldn't recommend buying there.

I would relax and begin researching TS in general. Take your time. Maybe it is or isn't for you. You also need to research which TS system (or systems) works best for you.
 
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chrismsa

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Many Thanks to everyone for making me feel that I made the right decision. I still keep thinking whether or not this is an investment. We go on vacation every year 2 nights here 3 nights there. I also heard that many people still stuck in the timeshare and cannot get out and they have to keep paying the MFs every year. This is the lifetime commitment. What can I do if I don't want it anymore? I also have HHonors Amex card but I think it has nothing to do with the HGVC. I just wanted to be able to stay at the nice resort with family and kids when we are on vacation.
 

csodjd

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Marriott Maui Ocean Club
I've yet to see a compelling reason to buy from the developer, except perhaps if you have to have a brand new location and there's no secondary market yet. And that goes for Marriott also. Rarely in the world of buying and selling stuff do you see such a large, massive in fact, gap between buying direct and indirect. Maybe you save 10-20% normally. Here, you save 60-90%. The secondary market defines the FMV.
 

csodjd

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Many Thanks to everyone for making me feel that I made the right decision. I still keep thinking whether or not this is an investment. We go on vacation every year 2 nights here 3 nights there. I also heard that many people still stuck in the timeshare and cannot get out and they have to keep paying the MFs every year. This is the lifetime commitment. What can I do if I don't want it anymore? I also have HHonors Amex card but I think it has nothing to do with the HGVC. I just wanted to be able to stay at the nice resort with family and kids when we are on vacation.
If you're buying for the points, not the location/home week, it's hard to imagine you won't be able to use them. Especially with the ability to save and borrow points. And, if you only paid a few thousand dollars to buy in, your risk is low. Worst case is you walk away. If you've used the points 5 years, you've already gotten your money back.
 

GT75

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I still keep thinking whether or not this is an investment.
IMO, it isn't a financial investment but I do view it as an investment in the family/friends. We have really gone on some great family/friends vacations with great memories.

What can I do if I don't want it anymore?
If you buy the correct resale property, then you should be able to unload it for around the same price for what you purchase. But for financial purposes, you might have to give it away when the time comes.

I also have HHonors Amex card but I think it has nothing to do with the HGVC.
HGVC and Hilton now are two separate companies which occurred about 1 year ago. So they are related.
 

taterhed

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Westin WKORV OFD
Marriott's Grande Vista
Worldmark x2
SVV Bella 81k
Many Thanks to everyone for making me feel that I made the right decision. I still keep thinking whether or not this is an investment. We go on vacation every year 2 nights here 3 nights there. I also heard that many people still stuck in the timeshare and cannot get out and they have to keep paying the MFs every year. This is the lifetime commitment. What can I do if I don't want it anymore? I also have HHonors Amex card but I think it has nothing to do with the HGVC. I just wanted to be able to stay at the nice resort with family and kids when we are on vacation.

Just to reinforce the others:

The Major hotel brands, Marriott, Hyatt, Hilton, Westin, have tended to keep some value in the resale market. That is to say, if you pick a 'good value' contract with 'good value' maintenance fees (lots of experts here on TUG can help you make that decision and understand the implications), you'll have no problem selling it when you desire to exit. Of course, nothing is guaranteed, but history reflects that these brands tend to be 'desirable' commodities if you choose the right resale unit. Besides, if you were willing to spend $24K, why would you be worried about $5k or less?

A timeshare is a commitment. You need to fully understand the cost, the value, the liability and the need to plan/take vacations periodically. Once you understand this commitment in finance and time spent on vacations (and the associated costs), then you can choose if this fits your needs and budget. HGVC provides very high quality units with a consistent quality. For short stays, they are hard to beat.

This is NOT a financial investment. You are buying a luxury vacation which is--depending on location--either cheaper than renting or much better quality than renting/hotels.
This IS a huge emotional/family investment. Time spent every year with family and/or friends is priceless. You can't buy memories, but you can make them while on vacation. Owning a use or loose vacation makes you take time for yourself. I think it's well worth the price.

Take your time. Give yourself a month to study and decide what is the best value, best fits your needs and HOW MUCH you need to fulfill your vacation needs. It's MUCH easier to buy once and get the appropriate number of points (and a good MF) than buy too little or too much or buy the wrong season etc.... Work the experts here on TUG who are familiar with HGVC and find out what you need and what price to pay. There are also some trusted brokers who are well respected on TUG that will guide you thru the purchase process with little to no pressure.

So, again, welcome to TUG. Best $15 you'll ever spend.
 

hurnik

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The seller of my Flamingo resale (when it finally goes through) is apparently listing their 5000 points Seaworld for $1.
So you can definitely do better (although doubt it'll pass ROFR unless maybe it's an EOY).
 

chrismsa

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The Major hotel brands, Marriott, Hyatt, Hilton, Westin, have tended to keep some value in the resale market. That is to say, if you pick a 'good value' contract with 'good value' maintenance fees (lots of experts here on TUG can help you make that decision and understand the implications), you'll have no problem selling it when you desire to exit. Of course, nothing is guaranteed, but history reflects that these brands tend to be 'desirable' commodities if you choose the right resale unit. Besides, if you were willing to spend $24K, why would you be worried about $5k or less?
Thank you for your suggestion! That was my first time there at the presentation and thought that it was a great deal for 24k to own one brand new very nice suite. But when I came back and did more research plus reading from TUG, my thinking for the deal is changed. As I mentioned before, I think I will stick with HGVC since a couple of friend families are with them. Now, I will have to do more research and try to get more recommendation on where to get a 'good value' contract with 'good value' maintenance fees.
 

frank808

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Thank you for your suggestion! That was my first time there at the presentation and thought that it was a great deal for 24k to own one brand new very nice suite.
Unit has already had someone occupy the unit, so no timeshare is brand new. They want to sell you the idea that it is brand new but in actuality it is used.


Sent from my SM-N950U using Tapatalk
 

chrismsa

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My friends are talking about old vs new HGVC system for blockout dates and reservation thru RCI. Does anyone have any information about this?
 

chriskre

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DVC- SSR, Poly,
Wyndham Las Cascadas
HGVC Tuscany Village
Bluegreen CMV UDI
RCI pts at VVParkway
Enchanted Isle resort.
My friends are talking about old vs new HGVC system for blockout dates and reservation thru RCI. Does anyone have any information about this?
There is no old vs. new.
That's a lie from the sales people.
You can book in both RCI week and points straight from the HGVC owners website.
As was mentioned above, there is no difference except elite status.
It's hard to accept that it's actually too good to be true but it is.
Save your $24K and buy more points or just enjoy a lifetime
of vacations on the 24K you saved yourself to pay the MFs.
 

chrismsa

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"Additionally, Hilton affiliate owners are not required to join the Club, though they are able to sign up and pay an enrollment fee if they choose to become a Club member. This fee is currently $399 to date.


Compare this with HGVC built resort owners who are automatically enrolled as Club members and cannot choose to withdraw membership from the club. Club membership includes annual membership to RCI.


Being an HGVClub member yields distinctive benefits and can be very flexible for one’s booking requirements, and offers all of the accommodations one would come to expect in a vacation ownership."

I'm quoting the above statement from this site below.
http://tug2.net/timeshare_advice/hilton-grand-vacation-club-timeshare-information.html

If I buy the TS from the reseller, do I have to join the club to be able to make reservation to RCI?
 

taterhed

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"Additionally, Hilton affiliate owners are not required to join the Club, though they are able to sign up and pay an enrollment fee if they choose to become a Club member. This fee is currently $399 to date.


Compare this with HGVC built resort owners who are automatically enrolled as Club members and cannot choose to withdraw membership from the club. Club membership includes annual membership to RCI.


Being an HGVClub member yields distinctive benefits and can be very flexible for one’s booking requirements, and offers all of the accommodations one would come to expect in a vacation ownership."

I'm quoting the above statement from this site below.
http://tug2.net/timeshare_advice/hilton-grand-vacation-club-timeshare-information.html

If I buy the TS from the reseller, do I have to join the club to be able to make reservation to RCI?
Perhaps it's time to spend a few hours reading the HGVC FAQ/Sticky/info located here: https://tugbbs.com/forums/index.php?threads/sticky-hilton-hgvc-advice-article-links.58716/ your questions will be answered fully.
You can start with RESALE VS DEVELOPER for a good basis......
I'm sure others will answer as well.....

cheers.
 

eabishop2

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HGVC Elara, Las Vegas
"HGVC built resort" and "Hilton affiliate" are distinctions of the resort, not the method of purchase. An HGVC built resort is an HGVC built resort whether you buy it from the developer or resale. An affiliate is an affiliate whether bought from the developer or resale. Those distinctions should be understood before you decide WHICH resort to buy at, but has no bearing on whether to buy from the developer or resale.
 

Talent312

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HGVC has, within its stable, basically three breeds of horses. A Summary:

1. True HGVC Resorts = Built by or bought by HGVC (in whole or in part).

2. HGVC "Fee-For-Service" Resorts = Managed under contract "as if" a HGVC.

3. Affiliates of HGVC = Resorts in which owners may voluntarily join HGVC.
... They are mostly SW Florida legacy resorts that predate HGVC.
... At its inception, HGVC needed these 'cuz it only had two of their own.


So: Buying "HGVC" means you're "in the club." Your TS is part of HGVC inventory.
OTOH, if you are offered an affiliate-TS, you will know it. You can join RCI or II.
But if you elect to join HGVC, you get the whole-club, including its RCI program.

.
 

brp

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If it were me, I'd try to track down the name of the lying agent and turn him/her in. I would hope s/he would be in big trouble with HGVC.
I hope you're kidding. They'd get a bonus for making up stuff that got someone to buy. And other agents would want to use it as well :)

Cheers.
 

chrismsa

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Is the Flamingo holding the value well? What would be a reasonable deal for 7000 points in Flaming?
If the MF depends on the size of the unit. Can I buy the studio unit to save the MF cost but make the reservation for the 2 BR?
 
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