What did I pay $13K for again?

[cubigbird]

If you purchased recently, where does the 3 free nights + sales meeting come in? Was this 3 night promo package purchased after you already purchased or part of your purchase transaction? If that was the return and you purchased then, your obligation to attend should be complete. There’s no such thing as a required “new owner experience” meeting.

 

[Hindsite]

There’s no such thing as a required “new owner experience” meeting.

I've heard the term a few times in the last couple of months from new purchasers, so it will be interesting to see if its part of the incentives and a way to get people back into the sales office for another bite.

 

[rickandcindy23]

I've heard the term a few times in the last couple of months from new purchasers, so it will be interesting to see if its part of the incentives and a way to get people back into the sales office for another bite.

Geesh, like these new developer buyers haven't already found out that what they bought is worthless on the resale market, especially Flex? I would go into a presentation angrier than a wasp who had his mud home washed off of the sunny front porch (I have personal experience with angry mud wasps).

Abound is $14.17 per point, but only at the higher threshold. I don't remember what that number was.

 

[cubigbird]

Geesh, like these new developer buyers haven't already found out that what they bought is worthless on the resale market, especially Flex? I would go into a presentation angrier than a wasp who had his mud home washed off of the sunny front porch (I have personal experience with angry mud wasps).

Abound is $14.17 per point, but only at the higher threshold. I don't remember what that number was.

Isn't that the point? Gets you back in to sell you more when you find out what you own doesn't work? Sadly it probably happens more often than we think. If this "new owner experience" is now mandatory, that's a new low. I am aware of return promo packages like 4 nights/3 days or 5 days/4 nights if you say no to an owners update meeting, but not a required "new owner experience" return sales presentation.

I remember the days of when you purchased, they wouldn't allow you to attend a gifted sales meeting for 6 months. I know this from having done retro transactions in the past and wanting to go to owners updates soon after to get some more points. I guess their market research has changed that owners are more likely to buy again (after they found out what they own doesn't work.)

 

[heitmullerj02]

Recently attended a 3 day/sales tour with HGVC. Once I told them I only buy resale, gave examples, I was free to go. Still got the 45k points in my Hilton account. I also told them to put me on “do not solicit “ list. Everyone was very civil and no high pressure.

 

[Musashisei]

If you purchased recently, where does the 3 free nights + sales meeting come in? Was this 3 night promo package purchased after you already purchased or part of your purchase transaction? If that was the return and you purchased then, your obligation to attend should be complete. There’s no such thing as a required “new owner experience” meeting.

So, when I purchased from the developer part of the transaction as to be “invited” to the “new owner experience,” which consists of a three night stay at the resort with the understanding that I would attend another presentation - required as part of accepting the additional three free nights. Accepting the stay wasn’t mandatory, but presented as an “opportunity to learn more about how to use the recently purchased VOI,” which we all know is BS and will be a push to buy more points or some such. I’m on my way to my “new owner experience” three night stay as I write this and will post the details after the presentation. They scheduled the presentation for the morning of the last full day of the stay.

 

[dioxide45]

I've heard the term a few times in the last couple of months from new purchasers, so it will be interesting to see if its part of the incentives and a way to get people back into the sales office for another bite.

Westgate has long had a program where they have you book a week and come back in for "new owner orientation" or some other term they use. It is just another sales pitch to try and sell you more. I wonder if Marriott/Vistana is taking a similar road.

 

[cubigbird]

Westgate has long had a program where they have you book a week and come back in for "new owner orientation" or some other term they use. It is just another sales pitch to try and sell you more. I wonder if Marriott/Vistana is taking a similar road.

This must be new. I remember in the past, you were ineligible to attend a gifted meeting the 6 months after purchase.

Sounds like a great excuse for sales to sell something small that doesn’t work and get you back in and sell you more as a solution to your complaint.

 

[GTLINZ]

@Musashisei - i concur with those suggesting you leverage Interval.

You seem to have a firm understanding that you got a lemon. The original investment is gone - but it has offered you access into Interval and you can make lemonade. At a minimum, I would join and investigate your options - especially with getaways which are cash only.

If you enjoy SVV you can get Interval getaways there cheap with the exception of peak weeks starting around $500 using a getaway discount which are done reasonably often. I would not use my points to stay there. The cheap getaways are very common in Orlando as it is overbuilt, and you may find that true in some other areas. We love SVV - one of the best pools and grounds of all the Orlando resorts.

The next step is to maximize the points you do have. You may want to find a place within your system you want to go.

Once you get a feel for using Interval, a few years down the road you may consider buying a resale unit somewhere else that is also in Interval and dumping what you have - but i think it makes sense to see what you can do with what you have. It is all about finding a way to maximize the points you have within your system. You may find some Vistana stays that not only work but you get good value from. I have belonged to multiple points systems and found some great deals if i would travel offpeak and stay in smaller units (but it still had to be good weather).

Good luck!

 

[Musashisei]

@Musashisei - i concur with those suggesting you leverage Interval.

You seem to have a firm understanding that you got a lemon. The original investment is gone - but it has offered you access into Interval and you can make lemonade. At a minimum, I would join and investigate your options - especially with getaways which are cash only.

If you enjoy SVV you can get Interval getaways there cheap with the exception of peak weeks starting around $500 using a getaway discount which are done reasonably often. I would not use my points to stay there. The cheap getaways are very common in Orlando as it is overbuilt, and you may find that true in some other areas. We love SVV - one of the best pools and grounds of all the Orlando resorts.

The next step is to maximize the points you do have. You may want to find a place within your system you want to go.

Once you get a feel for using Interval, a few years down the road you may consider buying a resale unit somewhere else that is also in Interval and dumping what you have - but i think it makes sense to see what you can do with what you have. It is all about finding a way to maximize the points you have within your system. You may find some Vistana stays that not only work but you get good value from. I have belonged to multiple points systems and found some great deals if i would travel offpeak and stay in smaller units (but it still had to be good weather).

Good luck!

Good perspective and advice. Thank you. I will start taking a hard look at what I can get through interval.

 

[tamu_bu]

An observation, and no disrespect to the OP. The title of this thread though captures the timeshare industry in a nutshell. How many buyers walk away wondering "what the heck did $X just buy me?"

Development companies use the complexity of the product to their sales benefit - often to the determent of their customer. Their product is exciting and captures the imagination of the buyer.

I'm not saying timeshare is good or bad for everyone. But it's such an odd market. Can you imagine selling cars to multitudes of buyers, many of whom are unable to drive or understand how to operate a car?

I think part of the problem is that most buyers go into this deal giving the seller the benefit of the doubt. Home loans have credit checks, approvals, and somewhat standardized paperwork. Car buyers typically have shown proof of license, insurance, and credit worthiness before purchase. Timeshare seller incentives are very unchecked in this market.

Timeshares can be an exciting and excellent product - but have a broken retail market. I can't begin to imagine selling a product that can create such a high level of dissatisfaction and then having to provide ongoing support for it.

 

[Musashisei]

An observation, and no disrespect to the OP. The title of this thread though captures the timeshare industry in a nutshell. How many buyers walk away wondering "what the heck did $X just buy me?"

Development companies use the complexity of the product to their sales benefit - often to the determent of their customer. Their product is exciting and captures the imagination of the buyer.

I'm not saying timeshare is good or bad for everyone. But it's such an odd market. Can you imagine selling cars to multitudes of buyers, many of whom are unable to drive or understand how to operate a car?

I think part of the problem is that most buyers go into this deal giving the seller the benefit of the doubt. Home loans have credit checks, approvals, and somewhat standardized paperwork. Car buyers typically have shown proof of license, insurance, and credit worthiness before purchase. Timeshare seller incentives are very unchecked in this market.

Timeshares can be an exciting and excellent product - but have a broken retail market. I can't begin to imagine selling a product that can create such a high level of dissatisfaction and then having to provide ongoing support for it.

Very well said.

 

[jabberwocky]

Any

An observation, and no disrespect to the OP. The title of this thread though captures the timeshare industry in a nutshell. How many buyers walk away wondering "what the heck did $X just buy me?"

Development companies use the complexity of the product to their sales benefit - often to the determent of their customer. Their product is exciting and captures the imagination of the buyer.

I'm not saying timeshare is good or bad for everyone. But it's such an odd market. Can you imagine selling cars to multitudes of buyers, many of whom are unable to drive or understand how to operate a car?

I think part of the problem is that most buyers go into this deal giving the seller the benefit of the doubt. Home loans have credit checks, approvals, and somewhat standardized paperwork. Car buyers typically have shown proof of license, insurance, and credit worthiness before purchase. Timeshare seller incentives are very unchecked in this market.

Timeshares can be an exciting and excellent product - but have a broken retail market. I can't begin to imagine selling a product that can create such a high level of dissatisfaction and then having to provide ongoing support for it.

I don’t think it’s the fault of licensing or income verification - this wouldn’t prevent most cases. Any market relies on some degree of information asymmetry to function. The timeshare market is just one where the asymmetry is incredibly high - most timeshare buyers think they are buying a Mercedes G-wagon when in fact they are just getting a Jetta.

The Jetta is perfectly practical and will do what it’s intended to do, but you shouldn’t pay G-wagon prices. Back when all that was being sold was a fixed-week timeshare, buyers knew exactly what they were buying (with its inherent inflexibility).

Now timeshares are sold as “points” which can have varying values and may or may not get you that week you had in mind. The salesperson leads you to believe you will be able to book spring training in Scottsdale (which may be true if you bank/borrow points and are online at exactly the right moment) when you’ll only have enough for an August week in the desert.

I’m not making excuses or blaming the buyer - simply pointing out this isn’t something that can easily be regulated away.

 

[GTLINZ]

There are some similarities between the car and timeshare markets. And some vast differences. Some are already discussed.

A car is often a necessity item (arguable for luxury cars which have status). It is also easier to see what you are getting as a test drive of the same model is part of the process. There are also predatory practices in the auto industry. For new cars, it includes maximizing profit thru dubious items added to new cars (see window etchings among other dealer add ons), and inflated financing (the worst being for those without good credit). For used cars, you can add selling cars with known issues without disclosing.

Timeshares are basically a luxury item. For the savvy (retail) buyer, you can reduce your travel costs but it is still discretionary spending. But in the retail industry, the predatory practices are amplified and as mentioned you know a lot less about what are buying until you have actually "driven" that model (each timeshare system being unique). One of the biggest differences is while a car has trim levels that make a reasonable cost difference, a timeshare season can be the determination between valuable and worthless. That factors into the depreciation between retail and resale is usually anywhere from ok to unimaginable. And the timeshare industry is famous for sales weasels telling lies that do not match the contract. If buying a car, you would see that your low season unit you are receiving is something akin to a "go cart" which you cannot drive on the street but actually fits the definition with 4 wheels. You would not know that with a timeshare without prior study.

Thankfully I found Tug after being enticed during a sales visit. As much as i wanted to buy, i said no. It was very eye opening that the sales weasel who acted like my friend wanted to sell me something that had some value at an extremely inflated price. Of course, they offered the cheapest season unit which would have been a very bad deal.