Paying maintenance fees in chunks?

[4whits]

Is there a way to pay the maintenance fees over a few months instead of one check?

Balanced the checkbook and it was not as pretty as I thought it would be.

 

[Talent312]

No one I know turns down a partial payment, 'cept the Clerk of Court.
I think they will accept chunks, as long as the balance is paid in full b4 delinquent.
But I suggest that you call HGVC to discuss it with them... 800-932-4482.

BTW... Did you know that you could charge 'em to a HHonors CC from American Express or CitiBank at the members' website? These cards really help you load up on points, even if you end up eating finance fees for a couple of months.

 

[Sandy VDH]

You can personally opt to pay it monthly BUT Early, and spread out payments from say July to November, or Sept to January, but it must be paid in full by the due date plus grace period, which may vary from Jan 1 to Jan 31, to Feb 28, depending on where you own.

 

[AwayWeGo]

D-I-Y Style E-Z Payment Plan.

Is there a way to pay the maintenance fees over a few months instead of one check?

Our timeshare accepts partial payments of any amount -- in advance.

That is, I can send in monthly payments via automatic on-line billpayer service starting in January 2011 to get a jump on 2012 maintenance fees.

Rather than coughing up the full amount in 1 big honking payment before December 31, 2011, instead, throughout the year, I can send in monthly installments each equal to 1/12 of next year's estimated annual amount.

By the time I get the bill for 2012 fees, most of what I owe will already be paid ahead.

Of course, I won't know the exact amount of 2012 maintenance fees till I get the official bill round about October 2011. But I can approximate the 2012 amount based on 2011 fees, then make up the difference (if any) in my November 2011 & December 2011 installments.

What I can't do is pay on the installment plan in arrears -- i.e., make monthly payments during 2012 for 2012 maintenance fees, which are due before the end of 2011.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[KathyA]

Our timeshare accepts partial payments of any amount -- in advance.

That is, I can send in monthly payments via automatic on-line billpayer service starting in January 2011 to get a jump on 2012 maintenance fees.

Rather than coughing up the full amount in 1 big honking payment before December 31, 2011, instead, throughout the year, I can send in monthly installments each equal to 1/12 of next year's estimated annual amount.

By the time I get the bill for 2012 fees, most of what I owe will already be paid ahead.

Of course, I won't know the exact amount of 2012 maintenance fees till I get the official bill round about October 2011. But I can approximate the 2012 amount based on 2011 fees, then make up the difference (if any) in my November 2011 & December 2011 installments.

What I can't do is pay on the installment plan in arrears -- i.e., make monthly payments during 2012 for 2012 maintenance fees, which are due before the end of 2011.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

Yes, I'd be pretty surprise if anyone (especially Hilton) would accept payments on maintenance fees past the due date. If they did then everyone would spread them out from the time they were due until the time they used their time.

 

[4whits]

Thank you!

Never thought of setting it up as a recurring bill frm my bank. Great Idea.

I'll pay this one in full on my Costco Amex to get the 3% back, and then start paying for next year.

Thank you all very much!

kristin

 

[Talent312]

I'm not down with giving HGVC the float by paying in advance.

We just sock away 'x' amount each month in a savings account to be used as a "sinking" fund for various annual expenses, besides MF's... such as residential R/E taxes, insurance & HOA; Christmas; special projects and the like.

 

[timeos2]

Use for more than just timeshare fees & win

I'm not down with giving HGVC the float by paying in advance.

We just sock away 'x' amount each month in a savings account to be used as a "sinking" fund for various annual expenses, besides MF's... such as residential R/E taxes, insurance & HOA; Christmas; special projects and the like.

The idea of a "Christmas club" type monthly pre-payment is a good one to effectively spread the cost throughout the year. But as Talent says why give Hilton (or DRI or Wyndham et al) the use of those funds? Even one percent or two (all that most savings pay now) in your hand is better than theirs. Use it for all your annual fees like property tax, car insurance, school tax, etc & the float amount can be a substantial amount and you'll be able to easily pay when first due and often times a discount for prompt payment may be offered. Makes it less painful and maximizes your savings.

 

[KathyA]

The idea of a "Christmas club" type monthly pre-payment is a good one to effectively spread the cost throughout the year. But as Talent says why give Hilton (or DRI or Wyndham et al) the use of those funds? Even one percent or two (all that most savings pay now) in your hand is better than theirs. Use it for all your annual fees like property tax, car insurance, school tax, etc & the float amount can be a substantial amount and you'll be able to easily pay when first due and often times a discount for prompt payment may be offered. Makes it less painful and maximizes your savings.

I keep my whole vacation fund--including all my maintenance fees on 10 timeshare weeks, in my credit union instead of in my bank. Harder to get to the credit union and then it's there when I need it. I have monthly transfers made from my bank checking account to the credit union. Then I get the interest (not much, but better at credit unions than at banks). When the bills come in at the end of the year I call the credit union and have them send me a check.

 

[Talent312]

I keep my whole vacation fund--including all my maintenance fees on 10 timeshare weeks, in my credit union instead of in my bank... When the bills come in at the end of the year I call the credit union and have them send me a check.

Smart.
Using a separate institution keeps the temptation to raid the piggy-bank at bay.
I use an online savings account into + from which I can move $$ electronically,
... a little too easy.

 

[paulj126]

Is there a way to pay the maintenance fees over a few months instead of one check?

Balanced the checkbook and it was not as pretty as I thought it would be.

I have a question for anyone knowledgeable in this: Has anyone ever challenged the increase in maintenance fees with HVGC? Is it possible to negotiate lower maintenance fees with them? Receiving some maintenance fee is better than an owner walking away and defaulting... at least they're receiving some income. I am guessing the fast rising maintenance fees are mostly to cover for all the owners that have defaulted, right? I don't think it's fair for the rest of the owners to cover those costs.

Or is this wishful thinking? Is paying reduced fees the same on your credit record as defaulting?

 

[Talent312]

I have a question for anyone knowledgeable in this: Has anyone ever challenged the increase in maintenance fees with HVGC? Is it possible to negotiate lower maintenance fees with them?

MF's are established by the BOD's of the homeowners' associations at each resort. HGVC acts as the collection agent / bookkeeper for the HOA's. HGVC itself has no authority or right to negotiate individual MF's. Any neotiation would have to be done with the HOA's BOD.

However, variances would be seriously unfair to the vast majority of owners who pay their statements in full and likely violate the covenants and declarations governing the HOA. I suspect that if any TS-owner found out about favored treatment being given to a select group, the BOD would find themselves sued tout suite.

 

[UWSurfer]

Echo'ing a variation of what's been already said, I know that fee's generally go up by 5% a year on average and I know what I paid last year. Out of each and every paycheck I automatically transfer half of my mortgage payment along with 1/24th of what I'll need for taxes, insurance & yes, MF's for the timeshares all into a second savings account automatically on payday. (I'm paid twice a month). I live on and pay my other bills with the rest. That way the money is always there when I need it and I earn interest on the float as it accumulates.

 

[Talent312]

Out of each and every paycheck I automatically transfer half of my mortgage payment along with 1/24th of what I'll need for taxes, insurance & yes, MF's for the timeshares all into a second savings account automatically on payday. (I'm paid twice a month).

Excellent! I wish I could be so consistent.
My transfers vary significantly, depending whether I need to pay for a new toy
... like a big new LED-TV or if DW went to the Mall.
But over time, it adds up to cover various annual expenses, plus a little extra.

 

[KathyA]

I have a question for anyone knowledgeable in this: Has anyone ever challenged the increase in maintenance fees with HVGC? Is it possible to negotiate lower maintenance fees with them? Receiving some maintenance fee is better than an owner walking away and defaulting... at least they're receiving some income. I am guessing the fast rising maintenance fees are mostly to cover for all the owners that have defaulted, right? I don't think it's fair for the rest of the owners to cover those costs.

Or is this wishful thinking? Is paying reduced fees the same on your credit record as defaulting?

Yes, it's wishful thinking. If Hilton was interested in just "receiving some income" they wouldn't exercise right of first refusal, they'd just collect maintenance fees from the new owner. And seriously, why should any single owner get use of their vacation unit for less than other owners?