New Member - Just Bought my first timeshare. Good Deal?

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

Hello everyone. Been doing research here the past few weeks and today created a user ID. I just purchased my first timeshare. Well technically it was my second purchase. My first one was through Grandview @ Las Vegas while vacationing in May. They sold me a "foreclosure" in Breakers of Ft Lauderdale for $4000, $650 closing cost, and $755 annual maintenance fees. It was worth 38500 RCI Points. Well once i got home i saw how bad i was being ripped off so i rescinded the contact a few days after.

Im really interested in the RCI points more than the home resort. Fast forward to today and i won an auction on eBay for Vacation Village in Orlando. The winning bid was $105. A FAR cry from the 4 grand i was about to pay a few weeks prior. Its worth 74,000 RCI points annually. The maintenance fees are 734 every OTHER year and taxes are 143 every year. that breaks down to 437 every year compared to the 755 i was about to pay and get almost double the points.

Now i know this is a much better deal than the one i got in Vegas but is this a good deal overall for a resale purchase?

Thanks so much
ray

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

so many views and no one can advise?

[Presley Senior Member Find all posts View Profile Close Presley]

I don't know. I think what is important is was it a good deal for you? Will you use this? It sounds good to me, but it isn't located in a place where I would be likely to stay annually, so it would be a really bad deal for me personally.

I am still new enough to not really understand trading power of points, etc. Anything that wants me to pay extra (like trades) starts to sound like a hassle to me. But, I am a very lazy person, so it could be better for you.

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

I don't know. I think what is important is was it a good deal for you? Will you use this? It sounds good to me, but it isn't located in a place where I would be likely to stay annually, so it would be a really bad deal for me personally.

I am still new enough to not really understand trading power of points, etc. Anything that wants me to pay extra (like trades) starts to sound like a hassle to me. But, I am a very lazy person, so it could be better for you.

im really more focused on the amount of points cause i will never use the home resort during my deeded week. I wanted to know if the amount of money im paying is a good deal for the amount of points im getting. Just wanted to know if there are better deals before i full commit to this. I still have 4 more days to change my mind.

I read some places where they say a penny a point is good and other say thats just ok. I wanna know what price per point is a great deal. based on my math of 509MF divided by the annual 74000 points it equals .0069 per point.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

Shouldn't you ask that before the bid? Not after won the contract and than decide if you want to take it or not?

However, for whatwver it is worth.

74,000 is if you give them the week.

And sounds like you get EOY contract, so you get 74000 eoy.

It counts as 437 MF per 37000 points. Or about .012 per 1 points.

Check eBay completed contracts especially for the same resorts. I believe the max point they provide is 92,500 for 2 BD at holiday season for the same resort. And you may also want to check how much RCI point borrowing cost as of today.

Than you can plug in the number to see if it looks good to you.

Jya-Ning

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

Shouldn't you ask that before the bid? Not after won the contract and than decide if you want to take it or not?

However, for whatwver it is worth.

74,000 is if you give them the week.

And sounds like you get EOY contract, so you get 74000 eoy.

It counts as 437 MF per 37000 points. Or about .012 per 1 points.

Check eBay completed contracts especially for the same resorts. I believe the max point they provide is 92,500 for 2 BD at holiday season for the same resort. And you may also want to check how much RCI point borrowing cost as of today.

Than you can plug in the number to see if it looks good to you.

Jya-Ning

its 74000 points ANNUAL not EOY. i called and confirmed and have this in writing. They also said i have a 5 day period to cancel if i do not want it. Just like when buying from the developers. and yes i know its 74000 points if i give them the week. like i said i never plan on taking the week there

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

here is the ebay listing. It states annual and they also confirmed it in writing. also you have to taken into consideration that im getting all of the 2010 points with out paying anything

Vacation Village at Parkway FL 74K RCI Points Timeshare | eBay

[Ridewithme38 Senior Member Find all posts View Profile Close Ridewithme38]

its 74000 points ANNUAL not EOY. i called and confirmed and have this in writing. They also said i have a 5 day period to cancel if i do not want it. Just like when buying from the developers. and yes i know its 74000 points if i give them the week. like i said i never plan on taking the week there

i'd triple check that if i were you...usually if the MF's are EOY so are the points...i've rarely seen it the way you mention it

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

i'd triple check that if i were you...usually if the MF's are EOY so are the points...i've rarely seen it the way you mention it

here is the listing and i have asked three times and got it in writing

Vacation Village at Parkway FL 74K RCI Points Timeshare | eBay

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

i'd triple check that if i were you...usually if the MF's are EOY so are the points...i've rarely seen it the way you mention it

I thought it was odd also. thats why i read it 20 times and called them also. Also have it in writing from them...here is the EBay id number 380343872522

[Ridewithme38 Senior Member Find all posts View Profile Close Ridewithme38]

I thought it was odd also. thats why i read it 20 times and called them also. Also have it in writing from them...here is the EBay id number 380343872522

Sounds like you already triple checked

[JoshA Member Find all posts View Profile Close JoshA]

This is my take on this.....

The total amount of points is 74,000 EOY however you can use 37000 Every Year, it's a common way to "pitch" this type of program or product... The fact that you pay maintenance fees EOY but have access to "some" vacations every year always sounds like a good deal however most of the times they reffer to a lock off (in case of weeks ) or spliting of points , I would be carefull with the wording they use and ask the if you get to use 74000 point EVERY YEAR.

I hope this helps

[Agent Jones Junior Member Find all posts View Profile Close Agent Jones]

this is ANNUAL usage of 74000 points or 148000 EOY....I pay 875 every other year plus 143 every year.

[Presley Senior Member Find all posts View Profile Close Presley]

This ownership is for a WHOPPING 74,000 Annual RCI Points, which offers a greater flexibility in planning and using your timeshare. This level of points has been known to get one, two, or even more weeks of vacation depending on how you use them. These points are issued to your account every year in March. It is permanently deeded, and the maintenance fees total only $732 with taxes being billed separately in arrears at $143, a great bargain for this level of points. These types of ownerships are still being sold by RCI for well over $19,000, so this is truly a steal!!

***Please note: The maintenance fees are billed biennially, which means you get 74,000 points, but only paying $732 (plus taxes billed annually) every OTHER year on the ODD years (2011, 2013, etc)!!!***


Just copied that from your ebay page. It is written oddly. That is the first time I have seen anything written in that way. Perhaps what you really bought is 148K points every other year, but are able to use half of them each year? Really, it is strangely written.

I think this is the same dealer someone recently wrote about here. They didn't get what they bought exactly. It had something to do with points being already banked with RCI, even though it was sold as being able to use at the resort he was buying from. Please search the threads here. It was a very recent thread.

[philsfan Administrator Find all posts View Profile Close philsfan]

this is ANNUAL usage of 74000 points or 148000 EOY....I pay 875 every other year plus 143 every year.

I think it's 875 per year including taxes for 74k points per year. It has already been posted as 1.2 cents per point. The standard has been less than 1.0 cents per point but that may be becoming an outdated goal as prices rise...as they always do. So your deal is not awesome but it doesn't seem awful either.