financing a marriott timeshare

in a previous thread it was talked about that some had placed the purchase of their timeshare on their marriott rewards visa, for instance paid 20,000 to get 63,000 rewards. this sounds good . but, just a question, if you finance thru marriott dont they give you points for financing along the way and will you end up will more points long term than a one time 63,000 points.

Do both, if you want. Put money down on your Visa, then finance the rest to max out your points. Pay off the loan in 90 days or whatever they allow, or else you'll pay something like 13% interest. We were able to buy 2 EOY Hawaii units and charge the whole thing. Too bad we still had the old Silver card and not the new black one, though. We only got 3 points per dollar instead of the 5 you get now.

In my opinion there is no way the points are worth the interest expense for financing. The Visa does make sense if you then turnaround and pay it off before interest charges accrue.

IMO if you have to finance to buy a Marriott, don't buy. You'll hate the timeshare forever.

Brian

Ditto. Ditto. Ditto.

I agree as well. Dont buy if you have to finance.

Does that include using home equity?

Just curious, since otherwise I consider myself in hallowed company with folks with that much disposable cash laying around. Mine's all tied up in investments..

Pat

camachinist said:

Does that include using home equity?

Just curious, since otherwise I consider myself in hallowed company with folks with that much disposable cash laying around. Mine's all tied up in investments..

Pat

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I think that comes down to one's own financial planning. If you have the money in the bank (or in investments) and choose to borrow against an equity line of credit because your investment yield is greater than your home equity interest that is a sound financial decision. BUT- I think those who need to finance a timeshare purchase, esp. at Marriott's high rates, should think twice before making the purchase. Timeshares are great, but whether they are an investment is certainly questionable and people who make the purchase and trap themselves in high interest long-term loans are likely to regret and even hate their purchase and, if they want/need to sell, are likely to find themselves trapped by a big loan which they can't pay off.

Just wanted to be sure, as folks seem to use "finance" as a blanket term.

FWIW, I paid cash for my last new vehicle (22 years ago) How many folks who never finance timeshares lease vehicles. Oh, that financial planning thing again...right

I do agree everyone's personal and financial situations are different. Hence, I would be loathe to pass judgement on another's choices, especially as they don't impact me in any way. Interestingly, in my years on loan committee, I saw more high income, conspicuous consumption customers in financial trouble than I ever did for the vast majority of our lower income members. I never gave them advice

Pat

camachinist said:

Does that include using home equity?

Just curious, since otherwise I consider myself in hallowed company with folks with that much disposable cash laying around. Mine's all tied up in investments..

Pat

Click to expand...

Home equity is a different story IMO. The OP seems to be thinking about financing through Marriott which is a terrible idea.

We used a Home Equity loan with a good interest rate to buy at the Surf Club, and also used the loan to pay for a new bathroom and a new furnace.

Would never finance through Marriott, their interest rate is horrendous. Even our timeshare salesperson said that at the time!

Good idea

MikeM132 said:

Do both, if you want. Put money down on your Visa, then finance the rest to max out your points. Pay off the loan in 90 days or whatever they allow, or else you'll pay something like 13% interest. We were able to buy 2 EOY Hawaii units and charge the whole thing. Too bad we still had the old Silver card and not the new black one, though. We only got 3 points per dollar instead of the 5 you get now.

Click to expand...

We did this. We were able to obtain points if we financed for 4 months. We did then immediately put into our equity account. We paid that off in a about 12 months.