Newby here - should I rescind? Need advice!

[jamiekay]

Hi there! I JUST found this site, and I don't even know if I'm posting in the correct forum. If not, admin please feel free to move this post!

I found you all just in time to rescind my contract, which I think I need to do... I have another 5 days to cancel, and I need advice please!

We just bought 2 days ago at HGVC - Elara, Las Vegas
2,200 points - week 22 (platinum), studio
Maintenance: $860 per year
Bonus points: 5,000
Paid: $15,000 (financed $13,00, put $2,000 on brand new Hilton AmEx card

I asked our salesperson about why I should buy directly from them (retail) and not a resale on the private market and was told:

1. Buying directly from them was the ONLY way I would be able to participate in RCI Last Call (for $220.00 per week, no other charges, points or fees)

2. It was the ONLY was we would be able to stay at Elara (or any HGVC resort) at any time and not use points (pay cash instead ($60/studio, or $100/1 bedroom)

3. It was the ONLY way we could save about-to-expire points by converting them into Hilton Honors points.

Are there ANY advantages to buying directly from the developer? Can I get the exact same thing on the resale market for a whole lot less? I do really like the idea of what we bought, just think I paid too much!

Also, is there a particular form we need to use to rescind? I have the address, just not sure what to say in the letter. I don't want to mess up! Will the deposit I put on the new American Express card be credited back to my account, or do I need to notify American Express too?

Thanks for advice!!

 

[colatown]

Sales weasel lies #1, #2, #3. 3 for 3 is great in any sport.
Yes you paid too much, rescind now then do some research.

 

[NewTSerInFL]

YES. YES. YES. (message needed to be 10 characters.)

 

[NewTSerInFL]

Buyers on the resale market get everything that someone that bought from the developer gets.

Here is an example.
http://www.ebay.com/itm/HILTON-GRAN...086002?hash=item41b5fc5072:g:zh4AAOSw-CpX~U44

More than twice the points. Less in maintenance fees. 1/3 of the cost. As they say, "Points is points."

We bought our first from HGVC. Ouch. But the 2nd was from eBay and if you average the 2 we only got kinda screwed.

William

 

[NewTSerInFL]

Oops. And to answer your other question.......they will credit back your AMEX once they receive and process your letter to rescind. Remember to follow the steps in the packet to the letter. Don't call.

William

 

[jamiekay]

Thank you for your response William!

 

[HudsHut]

And, never, ever, finance a timeshare.
Save up while you do your research. Then, should you decide that timeshare ownership fits your goals, pay cash.

 

[SmithOp]

All lies, the only thing you miss out on by buying resale is the possibility of becoming Elite, and they will push that on you at every owner update. At the price you paid it will be a hundred grand before you reach the first elite level.

http://www.hgvcelite.com/recognition/at-a-glance/


Sent from my iPad using Tapatalk

 

[onenotesamba]

RESCIND! Buy Resale!

You got 2200 points for $15K. I got resale, and purchased 9600 points for $5500 resale, within the last year.

 

[Sandy VDH]

run don't walk.

resale is the way to go.

 

[Talent312]

Just in case its still not clear...

1. Buying directly from them was the ONLY way I would be able to participate in RCI Last Call.

LIE -- Any HGVC member (even resale) can use Last Call.

2. It was the ONLY was we would be able to stay at Elara (or any HGVC resort) at any time and not use points.

LIE -- Any HGVC member(even resale) can use "Open Season" (Cash) rates.

3. It was the ONLY way we could save about-to-expire points by converting them into Hilton Honors points.

LIE -- That's not possible. Only points allocated for the following calendar year (2017) can be converted to HHonors. You save about-to-expire points by banking them with HGVC or RCI (by 12/31) - and any HGVC can do it.

Are there ANY advantages to buying directly from the developer?

NO -- 'cept only credit toward elite status, and even elite members here will say is not worth paying developer $$ to get.

How do know a TS salesman is lying? ... His lips are moving.

--------------------
RESCIND
... Follow the instructions in your contract to the letter, even if you think there's a better way.
.