Purchased Retail HGVMax; I want to rescind, my Wife doesn't...what to do!

[MrHodgieman]

Hi All-
First off, thanks for taking time to read this post. I appreciate any advice I can get. Newbie here, as you can tell from rest of my ignorance below ;P
On Monday, July 11th (4 days ago, so still in the 7-day rescinscion period), we purchased a retail HGVMax membership out of an Orlando Grand Vacations club.
Here are the terms:
$25K cost.
8,800 clubpoints (will get us a 2-bd every other year, which is what we need for our family)
Every other year terms, starting in 2023
$910 maintenance (paid every other year)
$281 club dues (paid every year)
25,000 bonus club points good for 2 years

I'm seriously considering rescinding it given resale prices are so much lower (and unfortunately not something I researched ahead of time). However, my Wife does not as she feels the 3 weeks added at sign-on offsets the cost enough and that we'd use the HGVMax benefits, which, from my understanding aren't available with resale? I think this includes access to more clubs and open-season/cash-based rates to other properties, cruises? That isn't super clear to me.
If I look at the 25K bonus club points, and put a 2-bd suite at $400 a night? (I suppose that comes to about $3K a week, so $9K worth of value?). That would bring it down to 16K since we were planning to take those 3 weeks of vacations anyway to Hawaii and Australia. So is the $16K product worth more to us for how we are using it versus say a $5K resale?

I don't know what question I'm really asking here except if my rationale and thinking is valid to reasonably support a retail purchase or am I over-rationalizing it to feel good about my wife's stance and should just essentially push back and get this thing rescinded?

Thanks for any input

 

[CalGalTraveler]

Welcome to TUG. Rescind now. Tell your wife that you need to do more research e.g. resale or other properties retail before you can spend this much money. You wouldn't buy a car for this price without research, right?

That deal will be there if you research and want it later. You only have once chance to rescind or you will be stuck with something you haven't researched. Rescind to buy yourself time. There is no rush.

 

[RX8]

^^^^ best advice

 

[HuskerATL]

Which resort in Orlando? Actually, you can get the same timeshare for almost free or an annual one for a couple grand..if that. So purchase price wise, this is a big waste of money.

If you buy resale, you will not be in Max but there is nothing in Max yet anyway. You also won't get bonus points...but some resale do come with current year points that are already paid for...so, sort of, bonus points.

Orlando has higher maintenance fees than some others. I would look at Vegas, if you are just looking for cheap price and MFs. Orlando always has openings so I would not worry about owning there to stay there. Points are points so you can use them anywhere.

I would rescind, by following the directions in the contract and then do some research. If you decide later to buy retail, HGV will always gladly sell you one.

 

[vacationtime1]

Show your wife this page (listing HGVC resales):

Elara by Hilton Grand Vacations Timeshares For Sale | RedWeek

Buy a timeshare directly from Elara by Hilton Grand Vacations owners. Resales are almost always 30 - 50% cheaper than buying the same unit from the resort!

www.redweek.com

 

[TheTimeTraveler]

.

RESCIND NOW while you still can legally rescind. Note: You can always go back to purchase again, but you can only rescind for a few short days.

Study up on TUG, do your homework, keep your hands in your pocket (save money) and buy resale.

Do think about becoming a TUG member. It will be the best $15 you spend....... Welcome to TUG.




.

 

[dboeger1]

For what it's worth, I'm not one of these religious NEVER-BUY-RETAIL types, because I think it depends if you have the money and if they're offering what you want... but that being said, we just recently bought HGV Max retail, rescinded a few days later, and our sales guy immediately called and offered us the same package for $7,200 less than we paid, even though our deal was supposedly them bending over backwards to honor an outdated Diamond Resorts sampler contract. They're pretty desperate to get people to buy in, and the prices are such that they have a lot of wiggle room, so you can almost certainly get a better deal later by rescinding, even if you do decide to buy retail.

HGV Max is a bit confusing and fuzzy, but my understanding is these are the main selling points:

1. Access to HGV and DRI properties.
2. Ability to use HGV points to book Hilton hotels.
3. Open season / cash deals.

The sales rep had a lot of trouble showing us actual points availability, in part because he wasn't willing to log into his personal account to show actual examples, which past reps have done for us. However, he did show us several open season cash deals well below market rate, which was nice to see. I think it looks like a decent program, but I doubt you're getting some screaming detail from the developer.

 

[HuskerATL]

Show your wife this page (listing HGVC resales):

Elara by Hilton Grand Vacations Timeshares For Sale | RedWeek

Buy a timeshare directly from Elara by Hilton Grand Vacations owners. Resales are almost always 30 - 50% cheaper than buying the same unit from the resort!

www.redweek.com

or this page: https://tug2.com/timeshare-classifieds/search/results.aspx?hilton&ResortName=hilton&ForSale=True

example:

 

[HuskerATL]

For what it's worth, I'm not one of these religious NEVER-BUY-RETAIL types, because I think it depends if you have the money and if they're offering what you want... but that being said, we just recently bought HGV Max retail, rescinded a few days later, and our sales guy immediately called and offered us the same package for $7,200 less than we paid, even though our deal was supposedly them bending over backwards to honor an outdated Diamond Resorts sampler contract. They're pretty desperate to get people to buy in, and the prices are such that they have a lot of wiggle room, so you can almost certainly get a better deal later by rescinding, even if you do decide to buy retail.

HGV Max is a bit confusing and fuzzy, but my understanding is these are the main selling points:

1. Access to HGV and DRI properties.
2. Ability to use HGV points to book Hilton hotels.
3. Open season / cash deals.

The sales rep had a lot of trouble showing us actual points availability, in part because he wasn't willing to log into his personal account to show actual examples, which past reps have done for us. However, he did show us several open season cash deals well below market rate, which was nice to see. I think it looks like a decent program, but I doubt you're getting some screaming detail from the developer.

All HGVClub Legacy retail and resale owners already get 2) and 3) so it is really just 1) that Max gives you..for Legacy owners they get access to DRI at 6 months but none of it is available yet. For 2), you don't book Hilton, you convert HGV points to HH and then you can use those HH points to book Hilton hotels.

 

[Iggyearl]

It sounds like you want to please your wife - doesn't everybody? But ask yourself - did you purchase a timeshare from HGVC? Or were you sold a timeshare? Did you say, "We want to think it over?" And they found all the reason not to do it today. Final question - Did you pay cash, and could you afford to do so without hurting? The price of your purchase just shot up if you financed it. Unless you have money lying around, and need to get rid of it, rescind and start studying.

 

[BingoBangoBongo]

After a quick scan of the point charts for many resorts it appears that you bought a 2BR Grand Plus Gold deed at Elara. It's not a bad deed, but you can do much better on a resale purchase, and honestly no one has any experience with Max yet. If it were my wife (who loves to shop), I would tell her that unlike a clothing store, this same product or a better one will be available if you decide to go the retail route after some more research. The telling part of your original post is you stating your uncertainty on the questions you're asking. I bought an Every Year ELara 1BR Grand Platinum at the end of 2020 for about $5000, and that now has 11,200 points. I feel that deed would bring close to that if I decided to sell it today. Your's at best would be worth less than $2500.

In your post you mention using the bonus points for Hawaii and Australia, but don't mention if these are typical trips for you or when and where you might want to go. This could impact on what type of deed you buy.

 

[Passepartout]

Here's the thing to be sure your wife understands: Timeshares acquired at resale are EXACTLY the same as those bought from the developer. Just without the sales department's markup. ALL timeshares are used. When you check in, someone slept in the bed, ate off the dishes, sat on the couch whether they bought retail or resale. The only difference is that the owners who bought resale have more money to spend elsewhere.

Jim

 

[dayooper]

@MrHodgieman What Max perks does your wife think you will use? Salesman stretch the truth all the time on the use of perks, many of which are really only useful with high points. The game is they get their foot in the door by selling families a small contract that they think they can easily use, but, in reality are little more difficult. So you go to another update where they tell you what you bought is useless and sell you a larger contract. This keeps on going until you get wise and stop going to sales presentations.

Here’s the thing, you only get one chance to rescind, but the deal you got (or a better one) will always be available. Once the recession period is up, you are stuck with what you bought, but you can always buy from HGVC.

 

[geist1223]

As others have said Rescind. Or perhaps get a new wife and in the divorce give her this time share.

 

[MrHodgieman]

Which resort in Orlando? Actually, you can get the same timeshare for almost free or an annual one for a couple grand..if that. So purchase price wise, this is a big waste of money.

If you buy resale, you will not be in Max but there is nothing in Max yet anyway. You also won't get bonus points...but some resale do come with current year points that are already paid for...so, sort of, bonus points.

Orlando has higher maintenance fees than some others. I would look at Vegas, if you are just looking for cheap price and MFs. Orlando always has openings so I would not worry about owning there to stay there. Points are points so you can use them anywhere.

I would rescind, by following the directions in the contract and then do some research. If you decide later to buy retail, HGV will always gladly sell you one.

It's the Parc Soleil but we bought a week at the las Vegas Elara as our salesperson said the maintenance is lower. I do think our sales guy was being transparent (relatively), he even highlighted the ROFR from Hilton and how they buy back at a much lower %.
Thank you!

 

[MrHodgieman]

Welcome to TUG. Rescind now. Tell your wife that you need to do more research e.g. resale or other properties retail before you can spend this much money. You wouldn't buy a car for this price without research, right?

That deal will be there if you research and want it later. You only have once chance to rescind or you will be stuck with something you haven't researched. Rescind to buy yourself time. There is no rush.

Thank you

 

[MrHodgieman]

.

RESCIND NOW while you still can legally rescind. Note: You can always go back to purchase again, but you can only rescind for a few short days.

Study up on TUG, do your homework, keep your hands in your pocket (save money) and buy resale.

Do think about becoming a TUG member. It will be the best $15 you spend....... Welcome to TUG.




.

Thanks. I did join and pay the membership. Definitely worth it! And happy to support this community!

 

[MrHodgieman]

For what it's worth, I'm not one of these religious NEVER-BUY-RETAIL types, because I think it depends if you have the money and if they're offering what you want... but that being said, we just recently bought HGV Max retail, rescinded a few days later, and our sales guy immediately called and offered us the same package for $7,200 less than we paid, even though our deal was supposedly them bending over backwards to honor an outdated Diamond Resorts sampler contract. They're pretty desperate to get people to buy in, and the prices are such that they have a lot of wiggle room, so you can almost certainly get a better deal later by rescinding, even if you do decide to buy retail.

HGV Max is a bit confusing and fuzzy, but my understanding is these are the main selling points:

1. Access to HGV and DRI properties.
2. Ability to use HGV points to book Hilton hotels.
3. Open season / cash deals.

The sales rep had a lot of trouble showing us actual points availability, in part because he wasn't willing to log into his personal account to show actual examples, which past reps have done for us. However, he did show us several open season cash deals well below market rate, which was nice to see. I think it looks like a decent program, but I doubt you're getting some screaming detail from the developer.

Thanks. Yeah my wife liked the additional resorts we have access to and the cash deals. But I pointed out those generally require a 30-45 day window before traveling which is not always conducive to planning vacations from work, etc. Maybe she's looking to jet without me. Lol

 

[MrHodgieman]

It sounds like you want to please your wife - doesn't everybody? But ask yourself - did you purchase a timeshare from HGVC? Or were you sold a timeshare? Did you say, "We want to think it over?" And they found all the reason not to do it today. Final question - Did you pay cash, and could you afford to do so without hurting? The price of your purchase just shot up if you financed it. Unless you have money lying around, and need to get rid of it, rescind and start studying.

We paid on a Hilton Amex card with a year to pay off interest free. We are in position to pay off during that time so as to avoid any finance charges. But by no means $$ lying around. Two kids, two car payments, mortgage, blah blah blah.

 

[HuskerATL]

Thanks. Yeah my wife liked the additional resorts we have access to and the cash deals. But I pointed out those generally require a 30-45 day window before traveling which is not always conducive to planning vacations from work, etc. Maybe she's looking to jet without me. Lol

You get open season with resale so you can still use cash or convert to HH.

 

[dayooper]

It's the Parc Soleil but we bought a week at the las Vegas Elara as our salesperson said the maintenance is lower. I do think our sales guy was being transparent (relatively), he even highlighted the ROFR from Hilton and how they buy back at a much lower %.
Thank you!

I bought my Boulevard 2 bedroom platinum (11200 points) for $2500 and it wasn’t bought back. Take a look at what people have purchased recently at this site:

Home Page - ROFR Experiences

ROFR Right of First Refusal Results Marriott Hilton Experiences

rofr.net

It all might be moot if you can only reserve 45 days in advance. Your availability will be very poor and you will not get your money’s worth, even at resale costs.

 

[HuskerATL]

We paid on a Hilton Amex card with a year to pay off interest free. We are in position to pay off during that time so as to avoid any finance charges. But by no means $$ lying around. Two kids, two car payments, mortgage, blah blah blah.

I bought our resale Scotland ( actually 6 of them) with our Aspire but paid about $2k each for them so I got 14x HH points and the $250 resort credit. About 46k points for about $12k.

 

[HuskerATL]

I bought my Boulevard 2 bedroom platinum (11200 points) for $2500 and it wasn’t bought back. Take a look at what people have purchased recently at this site:

Home Page - ROFR Experiences

ROFR Right of First Refusal Results Marriott Hilton Experiences

rofr.net

It all might be moot if you can only reserve 45 days in advance. Your availability will be very poor and you will not get your money’s worth, even at resale costs.

Just to add, when the DRI herd does get into Max, there will be even less available for open season.

 

[MrHodgieman]

@MrHodgieman What Max perks does your wife think you will use? Salesman stretch the truth all the time on the use of perks, many of which are really only useful with high points. The game is they get their foot in the door by selling families a small contract that they think they can easily use, but, in reality are little more difficult. So you go to another update where they tell you what you bought is useless and sell you a larger contract. This keeps on going until you get wise and stop going to sales presentations.

Here’s the thing, you only get one chance to rescind, but the deal you got (or a better one) will always be available. Once the recession period is up, you are stuck with what you bought, but you can always buy from HGVC.

Thanks. As far as perks was the access to more 2 bedroom units, which is a must with two teenagers. Seemed with retail vs resale you gain access to more HGV properties and anything new added in future? Plus the RCI and discounts on cruises and last minute travel.

 

[DRIless]

Hi All-
First off, thanks for taking time to read this post. I appreciate any advice I can get. Newbie here, as you can tell from rest of my ignorance below ;P
On Monday, July 11th (4 days ago, so still in the 7-day rescinscion period), we purchased a retail HGVMax membership out of an Orlando Grand Vacations club.
Here are the terms:
$25K cost.
8,800 clubpoints (will get us a 2-bd every other year, which is what we need for our family)
Every other year terms, starting in 2023
$910 maintenance (paid every other year)
$281 club dues (paid every year)
25,000 bonus club points good for 2 years

I'm seriously considering rescinding it given resale prices are so much lower (and unfortunately not something I researched ahead of time). However, my Wife does not as she feels the 3 weeks added at sign-on offsets the cost enough and that we'd use the HGVMax benefits, which, from my understanding aren't available with resale? I think this includes access to more clubs and open-season/cash-based rates to other properties, cruises? That isn't super clear to me.
If I look at the 25K bonus club points, and put a 2-bd suite at $400 a night? (I suppose that comes to about $3K a week, so $9K worth of value?). That would bring it down to 16K since we were planning to take those 3 weeks of vacations anyway to Hawaii and Australia. So is the $16K product worth more to us for how we are using it versus say a $5K resale?

I don't know what question I'm really asking here except if my rationale and thinking is valid to reasonably support a retail purchase or am I over-rationalizing it to feel good about my wife's stance and should just essentially push back and get this thing rescinded?

Thanks for any input

DIVORCE