Tug Newb: Advice before Shell Vacation Club closes

[ParisHolley]

So I am purchasing 1,250 from here in hawaii and will be apart of the West club ( California, Oregon, Nevada). The biggest sell for me was the 700/point + rci exchange rate or the ~$179 discounted weeks, which means I didn't have to buy to many points, but it will cost me ~$8000-9000

before I close, I want to make sure I am making a good decision. I plan on taking two 1 week vacations per year, so it seems that this would pay for itself but there are many contracts on ebay that would save me thousands. I have a premier membership and was given 3000 bonus points for signing up.

I have until friday to change my mind and cancel..need advice..

 

[rickandcindy23]

We just purchased two California Shell packages, which will be combined to give us over 7,100 points altogether. We received bonus points as well, and we paid $1.00 for each package, including all closing costs.

The reason these points sell for so much is the maintenance fees. They are pretty high.

 

[ParisHolley]

We just purchased two California Shell packages, which will be combined to give us over 7,100 points altogether. We received bonus points as well, and we paid $1.00 for each package, including all closing costs.

The reason these points sell for so much is the maintenance fees. They are pretty high.

Are you familiar with the discounted rates you get when booking 45(?) days out, that is suppose to be only 700 points ( or $179 as told by the sales guy )

 

[Karen G]

but it will cost me ~$8000-9000

We received bonus points as well, and we paid $1.00 for each package, including all closing costs.

ParisHolley, did you notice the difference in the prices you and Cindy paid? If you have the opportunity to rescind your purchase in Hawaii, you should immediately do so. Follow the rescission instructions in your contract exactly as stated. Do some more research on the resale market. Check out completed sales on eBay and elsewhere.

 

[rickandcindy23]

Are you familiar with the discounted rates you get when booking 45(?) days out, that is suppose to be only 700 points ( or $179 as told by the sales guy )

I believe resale buyers also get those same opportunities for booking cheaply.

 

[ParisHolley]

Would going to RCI directly (is that even possible?) be a better investment?

 

[Karen G]

Would going to RCI directly (is that even possible?) be a better investment?

First of all, nothing associated with a timeshare should be considered as an investment. It's more like a new car purchase--especially if you buy from a developer. It loses value the moment you drive it off the showroom floor or let your rescission period pass and you become the official owner of a developer-bought timeshare.

RCI is an exchange company. You pay them a high fee for exchanging your timeshare week or points for someone else's week or points. They do offer last minute or getaway weeks for low cost. There is no guarantee that you'll be able to exchange your timeshare for the exact time or location you want. Once you deposit your week with RCI, they are free to do with it whatever they want. They may rent out a prime week and may or may not make it available for other members to exchange for it.

Probably the best way to use a timeshare is to buy resale at a location you would be happy to travel to just about every year and not count on exchanging to get another location. Also, if the location is within driving distance of where you live, you won't be stuck with ever-increasing airfare to get there.

 

[GrayFal]

ParisHolley, did you notice the difference in the prices you and Cindy paid? If you have the opportunity to rescind your purchase in Hawaii, you should immediately do so. Follow the rescission instructions in your contract exactly as stated. Do some more research on the resale market. Check out completed sales on eBay and elsewhere.

Holley, follow the directions to rescind now and then do your homework. You have too many questions about the ownership/process to make an informed purchase now.

The deal will still be available to you in a month if you want it (don't believe it is a today only offer) and you will have all your questions answered.

 

[ParisHolley]

Probably the best way to use a timeshare is to buy resale at a location you would be happy to travel to just about every year and not count on exchanging to get another location. Also, if the location is within driving distance of where you live, you won't be stuck with ever-increasing airfare to get there.

But I do not want to go to the same place everytime. If i were to buy points off ebay, and stick to discounted rates / points, then overtime the maintenance fees would still be reasonable (ie. worst case say 500 in yearly fees + 1500 in additional fees like exchange, etc or just purchasing without points ) it be able to come out at 1500/14 = $107/nt for 4-5 star accommodations...

am I approaching this the wrong way?

 

[Karen G]

am I approaching this the wrong way?

No, not at all. A points program might work very well for you--but don't buy it from the developer. If you have to factor in a $7000-$8000 purchase price, your cost per night goes way up.

Also, rent for awhile and see how that goes. You can get some awesome deals on timeshare rentals without the annual maintenance fee obligations or exchange hassles.

 

[ParisHolley]

No, not at all. A points program might work very well for you--but don't buy it from the developer. If you have to factor in a $7000-$8000 purchase price, your cost per night goes way up.

Also, rent for awhile and see how that goes. You can get some awesome deals on timeshare rentals without the annual maintenance fee obligations or exchange hassles.

any recommendations on sources for renting (ie: stick around the forums or is there a popular site for renting timeshares )...

 

[Karen G]

any recommendations on sources for renting (ie: stick around the forums or is there a popular site for renting timeshares )...

The TUG Marketplace is a good place to start as well as the last minute rentals offered and rentals wanted forums. I haven't had personal experience with others, but some people have recommended Redweek.com. I'm sure others will add their favorite rental sites.