New to HGVC

[LizC]

We just recently purchased in NYC still within our cooling off period. My husband was more keen than me but I would always be a cautious purchaser anyway. I’m a bit confused as I’ve been reading on here over the weekend about the lack of resorts under HGVC, ie Hawaii, Orlando and Vegas. However why are people not converting their points and staying in hilton hotels of which there are thousands around the world?

 

[Talent312]

<1> You didn't ask, but if you bought directly from HGVC, you paid way too much. There is a healthy resale market - even for NYC - from a variety of outlets (reputable brokers, the TUG marketplace, Redweek, eBay) where you can pay 25-30% of HGVC's price for the eggsact same benefits (resale won't count toward elite status that starts at 14K). IOW, RESCIND while you can and research the resale market.

<2> Use of HGVC points to stay at Hilton Hotels is a notoriously poor use of points. Whether the conversion to Hilton Honors is based on 25 or 50-HH's points for each HGVC point, the point-requirements for Hilton hotels has increased so that now, you'd easily lose 50-75% of your time by doing so. For M-F stay or a long weekend in a HGVC studio, you'd only score 1N at a Hampton Inn. That's why you don't see HGVC members staying a Hilton Hotels, at least not with their HGVC points.

.

 

[GT75]

Welcome to TUG.

I’m a bit confused as I’ve been reading on here over the weekend about the lack of resorts under HGVC, ie Hawaii, Orlando and Vegas.

HGVC has many resorts in Hawaii, Orlando and Vegas. I don't know what you are referring to, maybe lack of last minute bookings like hotels. Booking a TS requires advance planning. In order to get the most availability, we are booking when the club window opens (usually this is 9 months out for most HGVC). Please provide the quote/thread, and we can help explain. If you want to stay in HGVC resorts (Orlando, HI, Vegas), it is better to buy into HGVC because of lower MFs (Maintenance Fees) than bHC (by Hilton Club). I am not an expert in bHC properties, but it looks to me that people buy there to use their points at that particular property.

why are people not converting their points and staying in hilton hotels of which there are thousands around the world?

As @Talent312 has stated, this is a poor use of points (which is money) even at 50-1 ratio. You also need to read the rules on converting in order to get the 50-1 ratio. You must convert all (full allotment) of next years points in order to get this ratio, otherwise it is 20-1. IMO, if you want to book a hotel, just pay cash.

I also agree with @Talent312, you only have one chance to rescind especially if you haven't researched and understand what you have purchased. In addition, if after research, you can always purchase this same deal from the developer.

 

[dayooper]

We just recently purchased in NYC still within our cooling off period. My husband was more keen than me but I would always be a cautious purchaser anyway. I’m a bit confused as I’ve been reading on here over the weekend about the lack of resorts under HGVC, ie Hawaii, Orlando and Vegas. However why are people not converting their points and staying in hilton hotels of which there are thousands around the world?

Stop reading and start rescinding. Do it now. Once that letter is sent in, check out the resale market for NYC. As @Talent312 says above, HGVC resale owners get the same primary benefits as owners who bought from a developer. They get the same booking windows, the same unit choices, etc. The only difference is the elite status, which many people think is most definitely not worth the money you pay.

 

[SmithOp]

I’ll add another reason to RESCIND NOW. NYC points are some of the most expensive in annual maintenance fees, so only buy there to stay there. Using NYC points to go to Vegas or Orlando is almost as bad as converting to HH points and staying in a hotel.



Sent from my iPad using Tapatalk Pro

 

[Smclaugh99]

Hi Liz

Just out of curiosity, what did you end up purchasing in NYC and for how much? I bought back in 2010 at W57, upgraded in 2015 (out of NY) and again earlier this year (back into NY via Hilton Club). I probably would have rescinded back in 2010 knowing what I know now and purchased resale. However, I do think there is some merit in buying from Hilton (unpopular opinion). We all know it’s a sales gimmick, but at every upgrade they’ve purchased back what I have bought at the full price and credited towards the next upgrade. I now currently have 24k points (Elite Plus level) in NYC. When I look at cumulative $$ given to Hilton, it is surprisingly not that much more (relatively speaking) than what I have seen for equivalent on HGVCresales.com, Redweek, and sellingtimeshares.com. Though Elite status was underwhelming, I’m finding Elite Plus (and moreso Elite Premier) do have some nice perks.

But again - the better financial decision for someone who just purchased from Hilton would be to rescind.

Good luck!

 

[DannyTS]

Have a look at the maintenance fees spreadsheet that GT75 put together (i wish we had that for Vistana and Marriott as well )

https://tugbbs.com/forums/index.php...ations-club-2018-maintenance-fee-list.263776/

If you buy for the Hilton club, you can buy NY resale and save quite a bit up front.
If you buy to exchange to other HGVC resorts you can buy a lot of other resorts on that list for a lot less money and save annually on MF

By the way, i am a new HGVC and Vistana owner myself. I have bought all my weeks in the last 5 months. I was pretty nervous about sending money to strangers and companies I had never heard of in other countries (i am from Canada, the sellers were in US and UK) but it all worked out beyond our expectations. If you have any doubt about the parties you may be involved if you buy resale just ask questions on TUG, most likely somebody has had some experience with that closing company or broker. If you are not comfortable with the counterparty, just move to the next one you are comfortable with even if you have to pay a little bit more. You are still going to save a to ton compared to buying from the developer.

 

[ljmiii]

Have a look at the maintenance fees spreadsheet that GT75 put together (i wish we had that for Vistana and Marriott as well )

Fellow TUGer StevenTing maintains a spreadsheet for MVCI properties. I know there are links on TUG but the one I have bookmarked is from the MVCI DP exchange website...

https://historical.vacationpointexchange.com

 

[CalGalTraveler]

@LizC The 3 Rs of timeshare success:

Rescind (don't wait - you have a limited window. That "deal" will always be there.)
Research
(Buy) Resale

After you Rescind, you can start your research here on Tug by answering the following questions and posting on this thread so we can better assist you.

1) Is there a vacation destination you wish to visit most of the time or on a regular basis? if so where?

2) Do you want to visit your home resort at least half the time, or do you want to trade more than half the time?

3) What are your 5 top trade destinations?

4) How many people do you usually travel with?

5) Can you travel any time, or are you locked into the school schedule?

6) Can you make firm plans 12 or more mos. in advance?

7) Can you vacation for a full week at a time?

8) What level of accommodations do you prefer on a scale of 1 to 5 stars?

9) How much can you afford to spend upfront, without financing?

10) How much can you afford to spend every year for a maintenance fee that will come due right after Christmas, and increase each year?

11) Are you a detail oriented planner?

12) Do you understand that once you buy a timeshare, it may be very difficult to sell or give away, and you are responsible for all fees, until you do?


There are a number of NYC owners (me West 57) here on Tug who can help you maximize your purchase if that is your preferred location.

 

[Talent312]

We don't know if the OP (LizC) has read the responses to her initial post.
Perhaps she didn't want the rescind-advice. OP: That's okay, BTW.
Some of us here have paid full-freight, too.

Just know that there are enuff HGVC resorts in desirable locations that
you need not "degrade" your points using them for hotel bookings.
.



.

 

[LizC]

I’ve read all replies, thanks for the advise. Yes I have taken onboard about rescinding and I think that’s what we are going to do. I went onto the NYC consumer advise website last night and it appeared to indicate yes I have 7 working says to rescind but it also seem to imply that this could only happen if you felt it was missold or mislead. Is this correct or can I rescind because I’ve changed my mind ?

 

[Panina]

I’ve read all replies, thanks for the advise. Yes I have taken onboard about rescinding and I think that’s what we are going to do. I went onto the NYC consumer advise website last night and it appeared to indicate yes I have 7 working says to rescind but it also seem to imply that this could only happen if you felt it was missold or mislead. Is this correct or can I rescind because I’ve changed my mind ?

Yes, within the rescinding period you can rescind because you changed your mind.

 

[CalGalTraveler]

I’ve read all replies, thanks for the advise. Yes I have taken onboard about rescinding and I think that’s what we are going to do. I went onto the NYC consumer advise website last night and it appeared to indicate yes I have 7 working says to rescind but it also seem to imply that this could only happen if you felt it was missold or mislead. Is this correct or can I rescind because I’ve changed my mind ?

I successfully rescinded NYC purchase before and you don't need a reason but if you want you can say "our situation changed." Just follow the directions on the back of the contract which spell out your rescission period and where to mail. All signatories on the purchase contract needs to sign the rescission if you and your spouse both signed. Many people rescind so it's not a big deal.

Send the rescission letter with proof of mailing and tracking from the US. post office before the 7 days are up to the address on the contract. The postage date is the one that matters. Don't delay. You can make other decisions later.

After mailing scan a copy of the rescission letter and email it to the contracts administrator in NYC if one was in contact with you. This will speed up your refund.

Don't talk to the rep as they will try to persuade you to continue with the purchase because they want their commission! Remember, you can buy resales for 15 - 30% of the cost of developer in NYC. Sometimes you can also find firesale if you are patient e.g. someone sold a Residences unit for $10k on Ebay in May and it surprisingly passed ROFR. (Most likely because ROFR hadn't been set up for this new property yet.)

You can always rent from an owner until you find the right resale so there is no rush. The HGVC TS product is awesome and you can save a bundle going resale.

Good luck!

 

[Talent312]

Despite the advice to rescind, you should know that the posters here all own HGVC in one fashion or another becuz, aside from the sales-bandits, HGVC itself is a flexible, consumer-friendly, honorable organization which, while makes booking TS pretty darn close to booking hotels.
.

 

[LizC]

I have generated my rescission letter ready to email in the morning with the first page of the contract. We tried to call the office this evening before 5pm to get a contact email address but the call went recorded message. As you all advised on here we will check out the resale market so if any of you can point us in tge direction of the best sites to research it would be greatly appreciated.

 

[dayooper]

I have generated my rescission letter ready to email in the morning with the first page of the contract. We tried to call the office this evening before 5pm to get a contact email address but the call went recorded message. As you all advised on here we will check out the resale market so if any of you can point us in tge direction of the best sites to research it would be greatly appreciated.

Here you are!

https://tug2.com/timeshare-classifieds/

https://www.redweek.com/

https://www.sellingtimeshares.net/

https://m.timesharebrokersales.com/

http://myresortnetwork.com/

http://judikoz.com

Don’t wait to send that letter in.

 

[LizC]

Here you are!

https://tug2.com/timeshare-classifieds/

https://www.redweek.com/

https://www.sellingtimeshares.net/

https://m.timesharebrokersales.com/

http://myresortnetwork.com/

http://judikoz.com

Don’t wait to send that letter in.

Thank you

 

[Talent312]

Do not simply email the letter... In some states, an email may be sufficient, but you cannot not rely on that. Email does not provide you with sufficient record or proof of delivery. This letter should be sent by snail-mail (USPS), certified, return receipt requested.

In your contract, there are specific instructions on how to rescind. Follow that eggsactly as written (even if you think there's a better way). If the letter is postmarked within the rescind-period, HGVC will do the right thing.

The resale-sources mentioned above are considered reputable by the posters in this forum.

 

[CalGalTraveler]

@LizC Congrats and welcome to TUG. You will not regret rescinding and taking time to educate yourself before you purchase. You can ALWAYS go back to the developer but I have never found a deal that is better than resale from a reputable broker or EBay seller.

Spend $15 to join TUG and explore the site. Tug and Redweek ($18) will be the best investments you can make especially in light of the thousands you just saved.

If you answer the questions in my prior post, we can help save you time in pinpointing the best resale timeshare value and options to research.

 

[LizC]

All good letter sent via email. Confirmation of cancellation received and refund to be with us within 7 days

I’ll start looking at resale’s now

 

[LizC]

Anyone know which resorts covert points to HH at 50/1 other than New York ?

 

[dayooper]

Anyone know which resorts covert points to HH at 50/1 other than New York ?

I believe that any of the by Hilton Club resorts have the 50:1 ration, but only for points from that club. Other members may chime in here, but I believe it’s still a poor use of points.

 

[bogey21]

Do not simply email the letter... In some states, an email may be sufficient, but you cannot not rely on that. Email does not provide you with sufficient record or proof of delivery. This letter should be sent by snail-mail (USPS), certified, return receipt requested.

In your contract, there are specific instructions on how to rescind. Follow that eggsactly as written (even if you think there's a better way). If the letter is postmarked within the rescind-period, HGVC will do the right thing.

The above is good advice. Follow it....

George

 

[CalGalTraveler]

I believe that any of the by Hilton Club resorts have the 50:1 ration, but only for points from that club. Other members may chime in here, but I believe it’s still a poor use of points.

This is correct. All bHC but to get 50:1 you need to convert your entire years point allocation prior to the year commencing or it falls back to 25:1 I believe. I've never used this as the points have more value in using in NYC or in other HGVC expensive locations such as Oahu instead of the hotels. I would more likely rent the unit and use the $ to pay cash hotel rates before I transitioned the points but haven't run the numbers.

Hilton Club NY (HCNY) 33 - 36 floors of Midtown Hilton can convert partial points at any time I believe. It is an older and slightly different RTU model than bHC, however you can sometimes get some great deals on these units.

 

[Smclaugh99]

This is correct. All bHC but to get 50:1 you need to convert your entire years point allocation prior to the year commencing or it falls back to 25:1 I believe. I've never used this as the points have more value in using in NYC or in other HGVC expensive locations such as Oahu instead of the hotels. I would more likely rent the unit and use the $ to pay cash hotel rates before I transitioned the points but haven't run the numbers.

Hilton Club NY (HCNY) 33 - 36 floors of Midtown Hilton can convert partial points at any time I believe. It is an older and slightly different RTU model than bHC, however you can sometimes get some great deals on these units.

Yes - owners of HCNY (floors 36 - 38) can convert any number of the club points to HHonors at 50:1. HCNY started out as RTU (nondeeded) but since 2014 (or thereabouts) it is deeded in perpetuity. EBay has a 5000 point HCNY for $8999 as “Buy it Now” which is pretty good price - not sure if it will pass ROFR, however.

Liz seems to be interested in HHonors. Like others, I think converting club points (even at 50:1) is a poor use of points due to cost of MF. A better way of accumulating HHonors points is to use one of the new HHonors AmEx cards - Ascend or Aspire. Ascend has $95 fee, gives you 12x points at Hilton (6x travel and 2x all other purchases) and complimentary Gold status. The Aspire has a $450 annual fee but you get $300 travel credit, 14x points at Hilton (7x travel and 3x all other purchases) and you get complimentary Diamond status. With either of those cards, you should be racking up the HHonors.

Good luck!

Sean