Tahiti Village Points

[bg_vaca]

I am an owner at Tahiti Village (1br Moorea unit EOY) that I bought 5 years ago. I knew nothing about TS when I bought it and unfortunately overpaid, but the timeshare has worked out for me and I am enjoying it. I was just at the resort this weekend and they have switched to the RCI points memberships system (was Interval International before). I have been interested in a points system ever since we bought the original timeshare. This weekend I upgraded my TS to an annual Moorea unit that gets 42,700 every year. After all was said and done, it was $7K to upgrade to the annual points plan. My MF are $361 a year, which seem pretty good to other MF's I have seen.

Is this a horrible deal?

I have 5 days to cancel the upgrade. I was thinking about possibly canceling my upgrade and just keeping my EOY Moorea unit, then buying a points timeshare via resale market (probably via ebay).

There are lots of RCI points memberships on ebay, but are they too good to be true? All the the ones I see on ebay are paid in full, list the MF and closing/RCI transfer fees. Is that all I need to worry about? Could there be major repairs needed at the resort I might need to pay for or other costs I am missing.

Thanks for any help

 

[massvacationer]

In terms of the maintenance fees per point, it looks pretty good

But, you can get a way better deal (far, far less than $7K) by buying resale

Others will chime in with more info and opinions

I would be inclined to rescind

If you buy points resale, you'll have to figure out what to do with your original week (keep, try to give away)

 

[natasha5687]

DON'T DELAY RESCIND NOW! I got 2 RCI points contracts for free with the seller pain closing and no MF until 2013. One is 81K eey and the other 48.5K eo and I got 149K in banked points along with the deal....all for FREE. I saw a 92K points contract on the TUG bargain deals section for free. It was an annual contract! RESCIND RESCIND RESCIND even if MF are more than 360 per year on a new contract it would take a very long time to have paid 7K.

 

[tschwa2]

Wow, no wonder the developer was wooed by RCI with the chance to make that much on something you already (over)paid for. Even the expensive developers usually don't charge more than $3995 to upgrade(?) to points.

Rescind. The absolute worst case would be you rescind do some research, decide it's a great deal and upgrade after you know what you are getting. The price can't be any higher.

RCI is down for upgrades this weekend. It may improve the points system. As it stands now RCI points does offer some flexibility but with the last weeks enhancement last year took away a lot of the last minute minute deals. HOA's have been adding and increasing housekeeping fees for less than 7 day stays so that between exchange fees HK fees staying 2 days end up costing $40 less than staying a week and 4 days might be $10 less than staying a week and 6 nights cost more than staying 7.

Also you RCI doesn't have the points chart for Tahiti Villages in the system yet. Since you have EOY you may only get those points EOY. 85,400 for a one bedroom in Vegas is kind of high unless you own a New Year's Eve week. And since yours float they average the crappy weeks with the good weeks You may be paying $7000 now plus
$200(is for 2 years RCI points membership)+$722 (for 2 years MF) + at least $110 exchange fee for 42,700 points.

Even if the developer is throwing in enough points to get you up to the 85k points that wouldn't transfer if you sell so you would be down your $7000 plus would have a points membership that you would have to pay someone to take.

Rescind, stick with your week. Wait until after this weekend to see what RCI does, then if you still want points you can get a better deal on ebay paying $1.00 to $1000 including transfer, closing and 1st year MF with points. allotment.

 

[bg_vaca]

To be clear the upgrade was doing 2 things:

1) upgraded an every other year timeshare to a annual time share
2) moving to the points system

Re: massvacationer - If I rescind, I figure I would just keep my original week, as I have a kid and the pool is just awesome at Tahiti Village.

When I was there this week they told me (no sure I trust them), that I could never convert my existing weeks to points. They would just leave it as a weeks timeshare and I would continue using it with Interval International. They told me the only way convert my existing TS in the points system was to upgrade to an annual plan. That was the main reason I upgraded, but it is starting to look like it would be better to either keep or sell my original timeshare and just wait for the right deal to come resale market and save some money.

 

[bg_vaca]

I am going to Rescind. I wish I found this site 5 years ago.

In the packet of documents I got I have a "Revocation Form". It seems all I have to do is fill that out and send it certified mail with in 5 days.

Is this correct? I have seen some tug posts that say I have to follow the rescind directions to the letter. I do not have any instructions, just the form.

On the form, there is a line for "Contract Number". I am not exactly sure what this would be, I looked through my documentation and have an order number, account number and Loan number (no sure why I have a loan number as I paid cash) and all these are the same number, so is this what I should put for contract number or is that something different? I just don't want to put the wrong number and have the paperwork not get processed in time.

Thanks again for all your help.

 

[Karen G]

I am going to Rescind. It seems all I have to do is fill that out and send it certified mail with in 5 days.

If that's what it says on the form, then that's what you should do. I think you are making the right decision. Take some time to do some more research and I'll bet you'll find yourself a much better deal.

 

[prickler]

Pretty sleazy of the tahiti to switch over to RCI for the opportunity to charge its owners an upgrade fee. Rescinding is the best choice.

Take a look on ebay and see what timeshares are going for. $1 Timeshares are legit, although a desirable resort with reasonable maintenance fees will likely cost a few hundred to a few thousand dollars. Still a much better deal.

Compare what you have to the Grandview in Las Vegas. they have RCI points packages around 49,000 - 61,0000 points per year or eoy, with comparable maintenance fees to yours that sell on ebay for a few hundred dollars. I think if you are interested in RCI points for exchanging, this is a solid starting point to evaluate the value of similiar timeshares.

Just my 2 cents

 

[bg_vaca]

ok it is done. Sent the rescind form via certified mail. Any ideas on how long it will take them to refund my money?

 

[tschwa2]

Since you paid cash my guess if 5-21 days from when they recieve the notice to rescind. I'm glad you were able to back out before it was too late. I'm sure you will learn to use what you have better and/or find something that suits your needs for a reasonable price.

 

[massvacationer]

good move ! take your time , research, and get a great deal.