Newbie question

[kenkolen]

I just puchased a 3400 point package at the HGVC in Orlando International Drive. I am soooo confused, firstly is 3400 points with a silver something or other worth while. Purchase price $15,900 included 17000 bonus points.
I have about 8 days in my recision period and I have been checking out resales which of course don't include the bonus points.
2nd measure of confusion, I want to convert the bonus points to use in New york city later this year, but from what I see those points won't go very far in New York or Long Island.
3rd RCI, the book I was given is RCI affiliated resorts, is that a complete source, seems I saw a much larger book elsewhere.

Neal

 

[GTLINZ]

I won't be the first to say this, but GET YOUR MONEY BACK ! DO NOT WAIT !

First, I am not sure what you have. 3400 points is a 1 br in gold season, 3500 points is a 2br in silver season. I am assuming for this discussion you have 1 br gold with 3400 points at International Drive.

One site (timeshareresalepros) lists a lot of resales for the same location starting today below $6000 (I am not recommending them, this is for information). SeaWorld (down the street) is listed below $4000. You may find better prices elsewhere. Buying resale has to get past Right of First refusal (meaning Hilton can buy it out from under you), but you can see that developer prices are WAY above resale (when buying resale, never put money in until ready for closing).

Buying into HGVC is all about the number of points you have. Examples:
1 br platinum is 4800 points
1 br gold is 3400 points
1 br silver is 2400 points

The maintenance fees are THE SAME for all 1 br units. The better the season, the more you pay UP FRONT but yearly fees are the same. Most Tuggers will tell you to buy in peak (plat) season. Plat season 1 br are listed on the same site for around $10,000. STILL LESS THAN YOU PAID, MORE POINTS.

Also, where you buy only really matters if you want to make you reservation 9 months out (called a home reservation, not fighting the crowd). Then points are points, and you need more points to travel in peak seasons.
The disadvantages of returning your purchase and buying resale:
1) your points cannot participate towards Elite status, which starts at 14000 points last time I read. Not a significant loss, IMHO.

2) you also will lose your BONUS points. The developer is giving you these as an enticement. If you spend the same $15900 in a good price on a resale, you will have more points per year and make that up in a few years. For example, you should have no problems finding a 2br platinum (7000 points) for below that price.

 

[GTLINZ]

2) you also will lose your BONUS points. The developer is giving you these as an enticement. If you spend the same $15900 in a good price on a resale, you will have more points per year and make that up in a few years. For example, you should have no problems finding a 2br platinum (7000 points) for below that price.

Also forgot to mention - you have lots of restrictions on BONUS points. You are better off with the real thing.

 

[linsj]

You can buy 3400 points for $1/point resale.

Don't buy for the bonus points. Generally, they expire in 12-18 months and can only be used at 30 days out, converted to Honors points, or deposited in RCI.

 

[Bill4728]

If you can't rescind then may the best of what you bought.

BUT if you can rescind DO SO NOW!!

For $15,000 you can buy 7000 pts and still have $2000 left over.

RESCIND!!