Buying direct vs secondary market for Hilton grand vacation

[Maggie08]

I recently just signed a Hilton grand vacation owner contract a day ago for 5440 points and it cost $26k. I wonder if I should cancel it and buy it from a secondymarket, as it seems to be 1/10 of the cost.

Am I missing something when it sees it much cheaper?

 

[artringwald]

I recently just signed a Hilton grand vacation owner contract a day ago for 5440 points and it cost $26k. I wonder if I should cancel it and buy it from a secondymarket, as it seems to be 1/10 of the cost.

Am I missing something when it sees it much cheaper?

Right away, exactly follow the terms in the contract to rescind. Don't talk to them if they call. Take your time and think of exactly what you want to purchase. The secondary market is the way to go, as many here on TUG have discovered. Fortunately for you, you found TUG quickly and still have a chance to rescind. Many of us didn't find TUG in time.

 

[Fido Chuckwagon]

I recently just signed a Hilton grand vacation owner contract a day ago for 5440 points and it cost $26k. I wonder if I should cancel it and buy it from a secondymarket, as it seems to be 1/10 of the cost.

Am I missing something when it sees it much cheaper?

Rescind immediately and save yourself $26,000. The fact that you are even asking questions should lead you to rescind before it’s too late. If, after researching it, you decided you still wanted to buy it direct (you won’t), then the deal will still be there.

You are not missing anything. With very very few exceptions, timeshares should be bought resale not direct, to save tens of thousands of dollars.

 

[jp10558]

I recently just signed a Hilton grand vacation owner contract a day ago for 5440 points and it cost $26k. I wonder if I should cancel it and buy it from a secondymarket, as it seems to be 1/10 of the cost.

Am I missing something when it sees it much cheaper?

Resale I got 11,200pts annual for about $10k all in (closing, one years MF reimbursement, transfer fees, etc). So yea, I'd cancel.

 

[Maggie08]

Thanks for the responds. The Hiton people is trying to talk me into keep the contract as they have given me 10k point bonus to use for first two years. Also do secondary market timeshare can use RCI to pay around $400 a week for RCI hotels ?

Thanks

 

[GT75]

Also do secondary market timeshare can use RCI to pay around $400 a week for RCI hotels ?

Resale HGVC deeds will have the same RCI access as developer HGVC deeds. You won’t get bonus points when you purchase a resale deed but you will pay much less for the deed. Honestly, your original purchase of 5440 pts isn’t enough to do much. I think that 11,200 pts is a good typical initial starting point.

I would suggest that you rescind now and research if HGVC or another TS system or even if TS fit your needs.

 

[dioxide45]

Thanks for the responds. The Hiton people is trying to talk me into keep the contract as they have given me 10k point bonus to use for first two years. Also do secondary market timeshare can use RCI to pay around $400 a week for RCI hotels ?

Thanks

The 10,000 bonus points aren't worth the developer cost premium. You also get access to the "$400 a week RCI hotels" with a resale ownership.

 

[artringwald]

I would suggest that you rescind now and research if HGVC or another TS system or even if TS fit your needs

And don't talk to them anymore.

 

[theo]

And don't talk to them anymore.

This.
Rescind now. Follow the contract cancellation instructions precisely. This is simply far too much money for far too little. Don't let the sales hyenas try to tell you otherwise.

 

[Fido Chuckwagon]

Thanks for the responds. The Hiton people is trying to talk me into keep the contract as they have given me 10k point bonus to use for first two years. Also do secondary market timeshare can use RCI to pay around $400 a week for RCI hotels ?

Thanks

Anyone with an RCI affiliated timeshare can get access to RCI, doesn’t matter if you buy it new or resale. Rescind and ignore what the salespeople are telling you!

Seriously, just rescind now, what’s the downside? I promise you that if you catch your breath, do your research, and decide you want that direct purchase after all you can turn around and buy it again for the same price (you won’t though). On the other hand, if you don’t rescind, you are going to be stuck with it forever.

 

[Belamie]

If you buy points on the secondary market, will these points count towards your higher level such as going from Preferred plus to Premier?