Points vs Weeks

[grapeaide]

I owned a week, and was just upsold into upgrading to points (I still have my week but can use its points now). I paid a lot for the upgrade. Did I get scammed?

Related and really important question, how many RCI points does an average week in a 2-bedroom unit cost?

 

[DeniseM]

It's never a good idea to buy from the developer, because you can buy resale for a fraction of the cost - I would find the info in your purchase papers about rescinding and rescind immediately. Follow the instructions EXACTLY.

If you tell us where you own, we can be more specific.

There is no such thing as an "average week" in RCI - an exchange may be 1 point, or over 50 points.

 

[Ski-Dad]

The real question is not "how many RCI points does an average week in a 2-bedroom unit cost"; rather, the question you should be asking is how much maintenance fee are you paying per RCI point?

If you are buying an RCI points unit, you should be looking for something at the 1 cent per RCI point or lower. Yes these do exist, and these units can often be had for a few hundred dollars.

What is you annual MF? How many RCI points are you getting for that?

What did the conversion cost you?

Without the answers to the above, it is hard to tell whether you have been scammed, but the answer is possibly.

 

[grapeaide]

It's never a good idea to buy from the developer, because you can buy resale for a fraction of the cost - I would find the info in your purchase papers about rescinding and rescind immediately. Follow the instructions EXACTLY.

If you tell us where you own, we can be more specific.

There is no such thing as an "average week" in RCI - an exchange may be 1 point, or over 50 points.

I own at Massanutten (Virginia).

 

[grapeaide]

The real question is not "how many RCI points does an average week in a 2-bedroom unit cost"; rather, the question you should be asking is how much maintenance fee are you paying per RCI point?

If you are buying an RCI points unit, you should be looking for something at the 1 cent per RCI point or lower. Yes these do exist, and these units can often be had for a few hundred dollars.

What is you annual MF? How many RCI points are you getting for that?

What did the conversion cost you?

Without the answers to the above, it is hard to tell whether you have been scammed, but the answer is possibly.

It's 44,500 points/yr, and my maintenance fee is $571/yr, so ~1.3 cents per point? The conversion cost me a fortune, ~$10,000.

 

[ScoopKona]

Rescind. Do it right now. Follow the rescission instructions that came with your paperwork to the letter. Make copies of everything you send them. Mail it certified, return-receipt requested. (What's an extra couple bucks? Return receipt gives your physical proof they received your rescission letter.) If they allow rescission by email or fax, do that, too. Keep copies of everything.

Once that is done, drop back and explain what you owned, what you bought, and most importantly, what you want to do with this new purchase. Someone will help you get what you want -- probably for pennies on the dollar.

If you're worried you're making a mistake by cancelling, don't worry. You can ALWAYS buy it from the developer. But the clock is ticking on your ability to cancel.

 

[Ski-Dad]

Rescind - Rescind - Rescind

I have a 49,000 point unit at Grandview Las Vegas with a $437 annual MF. I paid $300 + closing for the unit. These are not hard to find. The real gems are the 61K point units with the same MF or the 122K point units with MF of approximately $875.

 

[HudsHut]

Rescind now.
When salesperson wants you to convert to points, it's good for the sales person. I'm sure you have MUCH better uses for that money.

 

[quhines]

Ditto what Ski-Dad said. There are Massanutten (Regal Vistas 4BR weeks 25-30, 51,52) units that are worth the 178000 Points. Those are great units, but they are hard to find.

 

[moonstone]

Agree with the others, rescind while you can. You did not get a deal, you got ripped off. When our resort wanted us to convert to points ages ago (by telling us that weeks were being phased out and points would be the only way) they wanted more to convert than what or original purchase price was. We told them we already bought the timeshare once we weren't buying the same thing again. We did like the idea of points and the longer stays available using them. I was patient and eventually found an older couple wanting to give away their week that they had previously paid to convert for free. I can always stretch our 77K points & 1 maintenance fee into 3-5 vacations, all 7-13 nights long. Now we have both and take lots of vacations!

~Diane

 

[grapeaide]

Rescind. Do it right now. Follow the rescission instructions that came with your paperwork to the letter. Make copies of everything you send them. Mail it certified, return-receipt requested. (What's an extra couple bucks? Return receipt gives your physical proof they received your rescission letter.) If they allow rescission by email or fax, do that, too. Keep copies of everything.

Once that is done, drop back and explain what you owned, what you bought, and most importantly, what you want to do with this new purchase. Someone will help you get what you want -- probably for pennies on the dollar.

If you're worried you're making a mistake by cancelling, don't worry. You can ALWAYS buy it from the developer. But the clock is ticking on your ability to cancel.

Under which thread do I explain what I want to do with a new purchase?

 

[Volkyro]

Under which thread do I explain what I want to do with a new purchase?

Massanutten charges $8000+ just for the conversion from weeks to points. This is never worth it no matter how they spin it. You can't rescind on your original week, but if you can rescind the conversion, everyone would advise you to do that immediately. If you are still interested in RCI points, there are a lot better options than spending $10,000+ on a conversion by Massanutten.

 

[WorldT]

I think @grapeaide has heard enough rescind by now to understand the general consensus.
Should I add mine to the list?

 

[ScoopKona]

Under which thread do I explain what I want to do with a new purchase?

Depends. Tailor where you post to what you're trying to accomplish.

 

[jp10558]

Agree with the others, rescind while you can. You did not get a deal, you got ripped off. When our resort wanted us to convert to points ages ago (by telling us that weeks were being phased out and points would be the only way) they wanted more to convert than what or original purchase price was. We told them we already bought the timeshare once we weren't buying the same thing again. We did like the idea of points and the longer stays available using them. I was patient and eventually found an older couple wanting to give away their week that they had previously paid to convert for free. I can always stretch our 77K points & 1 maintenance fee into 3-5 vacations, all 7-13 nights long. Now we have both and take lots of vacations!

~Diane

I have no real idea what RCI points == but I wonder how you're getting 3-5 trips out of one MF. Are you going down unit size?

 

[grapeaide]

Massanutten charges $8000+ just for the conversion from weeks to points. This is never worth it no matter how they spin it. You can't rescind on your original week, but if you can rescind the conversion, everyone would advise you to do that immediately. If you are still interested in RCI points, there are a lot better options than spending $10,000+ on a conversion by Massanutten.

What are the better options to get RCI points? Should I be ditching my current timeshare altogether and buying a different one resale that is points based?

 

[grapeaide]

I think @grapeaide has heard enough rescind by now to understand the general consensus.
Should I add mine to the list?

Sure!

 

[WorldT]

Depends on your traveling habits and where you are trying to get into. I have a 49k triennial Grandview Las Vegas (cost $19) It is useful for grabbing promotions (usually 45 days before arrival). There a section that list exchanges under 10k points. Also you can use that account for last calls.
I just recently acquired a weeks @ VV colonies Williamsburg account primarily to trade in II. Gives me access to the Marriots and other resorts that do not trade in RCI.
In direct response to you trying to convert your already existing weeks to points. Don't do it. Rescind.
If you still want points, you can easily buy one for cheap. You can decide to keep the weeks while also getting the points unit. Or you may choose to get rid of the weeks once you get the points unit if you no longer have a need for it.
When buying a points unit, look for something with the best points/MF ratio. Grandview Las Vegas 61k points for the 1 bedroom is good or 122k points for 2 bedrooms (make sure it is the 1 bedroom as there are 2 bedrooms with 61k points. You MF is based on the number of bedrooms).
You can also look at the best Regal Vista units with about 178k points.

 

[WorldT]

I have no real idea what RCI points == but I wonder how you're getting 3-5 trips out of one MF. Are you going down unit size?

If you have a 1 bedroom unit with 61k points and only select trips in the under 10K section. You can easily get 6 weeks. The only question is if you will be able to find enough resorts in that section to fit your needs.
My 49k triennial gets me 16,333 RCI points per year. I have two trips (1 week each) this year alone and I have only used 7,500 points. One trip was 7,500 points and the second trip is a promotion, no points used.

 

[jp10558]

If you have a 1 bedroom unit with 61k points and only select trips in the under 10K section. You can easily get 6 weeks. The only question is if you will be able to find enough resorts in that section to fit your needs.
My 49k triennial gets me 16,333 RCI points per year. I have two trips (1 week each) this year alone and I have only used 7,500 points. One trip was 7,500 points and the second trip is a promotion, no points used.

Apparently what I miss only having the Wyndham and HGVC RCI accounts to use. Interesting.

 

[Ski-Dad]

You may be able to milk 2 or 3 vacations out of 50,000 points, but these will be off season or last minute things. 50,000 will generally get you a 1 bedroom at a nice resort in season (whatever their season is: beach vs skiing vs etc). Sometimes you may score a two bedroom in high season, but closer to the start or end of season.

My bigger beef with RCI points is the fees are getting out of hand. By the time I pay the exchange fee and maybe a gust certificate (spouse and daughter going), it represents 50% of the week's cost. I pay my fees in Canadian dollars, but when you check them against the USD and the prevailing exchange rate, we are paying more. It all adds up. End result is I will likely unload my RCI unit later this year and focus my trading in II. I will pick up another unit, probably a Marriott, and add it to my II account.

 

[ScoopKona]

What are the better options to get RCI points?

Are you 100% sure that RCI points is the best way to get you what you want?

 

[moonstone]

I have no real idea what RCI points == but I wonder how you're getting 3-5 trips out of one MF. Are you going down unit size?

Our one maintenance fee is for our 77K RCI Points timeshare based on a 2 bedroom unit in TN. We also own a traditional week, worth 26TPUs, which we rarely exchange. When looking for a vacation I always look in the vacations for less 10K points first. I have gotten a 2 bedroom unit in there before but usually they are 1 bedroom units which is fine now that we are empty nesters. I have found a week in FL in there several times but in shoulder season (usually Oct or early Nov.) which is also fine by us as we are Canadian and dont want to go to FL in the summer, and we winter in Belize (non-timeshare stay). I have also found resorts in PA & VA in the under 10k section. We do not need a Gold Crown but we do like a 1 bedroom, full kitchen at minimum. I have a general idea of which resorts I can book 8-13 night stays (which have the same RCI exchange fee as a 7 night stay) and start searching for those about 10 months out. I also really watch the RCI sales and book at reduced points when I can. Since we retired we can also do a lot of last minute trips which are often 7,500 points. I think the most points I have ever used on 1 vacation was around 35-40K for a 2 bedroom in a specific area when our adult daughter was staying with us.

~Diane

 

[Mongoose]

It's 44,500 points/yr, and my maintenance fee is $571/yr, so ~1.3 cents per point? The conversion cost me a fortune, ~$10,000.

Rescind and pick up a Vegas Grandview for $300-$500.

 

[ScoopKona]

I wonder how you're getting 3-5 trips out of one MF. Are you going down unit size?

There are MANY ways to get multiple weeks out of one maintenance fee. And some ways (lock-offs with attractive trade programs) don't require trading down.

My wife and I bought ours specifically to trade down. 25 years of getting anywhere between three and five weeks on a single maintenance fee. For us, that's the main appeal of timeshares -- staying in resorts with kitchens and paying less than $100 per night for that.

What's going to work for you? No idea. You'll have to describe what "the perfect timeshare" looks like to you, and then someone will drop by and tell you if such a thing exists.

There will always be some kind of trade-off. It's just a question if you can live with whatever the trade-off happens to be.