Urgent: purchase RCI Platinum points?

[samajor0323 Junior Member Find all posts View Profile Close samajor0323]

I did a TS tour today, and have until tomorrow morning to decide (negotiated that one - surprised they allowed it! Had to forego my "enticements" to get it). My wife and I currently own a floating week timeshare in Branson, MO, which is difficult to trade (I must confess I have shyed away from doing this as I am not clear on how easily it works) and costly to exchange. We currently pay $605/ year in MF, and have a floating week.

Here's the offer:

- Branson's Nantucket
- Offering 52,700 points (RCI Platinum) for a final price of $25,990. This includes $10,000 for our current time share, $4,000 discount for preconstruction. The starting price is $39,900.
- Salesman states he owns 40,000 points, and rents 20,000 each year for the past 5 years, and has received between $2,500 and $3,800 net (after the 20% fee charged by the company to sell them).
- Also comes with 8 RCI "Fun Weeks" for no additional rental fee each year (is this true? no cost to reserve/rent?)
- If I could rent 40,000 of my points each year (at $4,000), it would cover my monthly payments and MF (Maint. Fee = $479/yr.)
- I would still have 12,700 points left for my use, PLUS the 8 "Fun Weeks", which would be more than enough for my immediate family's vacation needs

So, bottom line, is this a good deal? do points actually rent out? anyone have any experience with renting points (easy to do / potential of renting 40,000 points for around $4000 / yr, etc.)?

I need to let them know tomorrow morning, so any responses would be greatly appreciated!

Really wrestling with this matter....thanks for your input!


samajor0323

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Rescind now

Do not complete this deal, RCI points are ok, a 52K annual can be had for under $500 total cost.

RCI will not allow you to rent points, in fact they will cancel your account and suspend all the trades you have made if they catch you.

The fact that this timeshare weasels lips were moving means that he was lying.

Just take a minute and think, if the resort could rent these points out for $4000 per year plus, why would they sell them to you?

Cancel, Rescind, Run, save yourselves a whole pile of grief and cash.

Greg

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

Please DO NOT purchase this!!!!! It is NOT a good deal! Check out the completed auctions on ebay for RCI points. As Greg pointed out many contracts go for $500 or less. If people could really rent out their points for $4,000 would they be selling their points on ebay?

Run away from this "deal" and if you're truly interested in RCI points, take your time, do some research and check out the resale market.

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

Run!!
Nice that they gave you overnight, saves you the trouble of having to rescind.

[gandalf252002 Senior Member Find all posts View Profile Close gandalf252002]

What this sales person is telling you is absolute hog wash. If people could pay MF's and then rent them for 2 to 3 times those MF's everybody would own timeshares. Glad you got the opportunity to wait until the next day. Do not even give them the opportunity to try and tell you any more lies. If you are supposed to go back tomorrow morning, bail!

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

Agreed with the others. I've been shopping TS on ebay for a few weeks now. Pretty much anything you could ever want has popped up there in the last month.

You can buy them for as little as $1.00, but more important than the salesprice are the annual dues that you will pay the rest of your life, whether you ever use the TS or not.

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

Just so you know RCI rents points to people who need extra to complete an exchange at 2 cents a point so from RCI 40,000 points would cost $800. On the open market (and its questionable if RCI allows it) points go for 1 cent a point so you can usually find 40,000 for $400. The "fun weeks" are probably last calls that are available to all RCI members and will cost you $200-$400 per week or AC's which are certificates that give you an exchange for just the exchange fee $179-$199 per week but only give you access to very low weeks and/or last minute availability. You would also have to pay guest cert fees if you are not checking in yourself. Platinum accounts may give you a rebate on part of the fee charged for the guest certs but it would still be an additional $59 out of pocket.

Another thing to be aware of is that the trade in deals don't always go through an even though you will get the $10,000 credit on the new purchase, they may not ultimately get it out of your name and you would still own your other TS and still be responsible for the MF's.

Finally 52,000 would not be enough points to get you into a 2 bedroom resort at most places during primetime. So if you are getting points it is very important to know how much you will need based on your vacation wants and needs.

All and all NOTHING that they are offering is worth $1000 let alone $25,000.

[fishingguy Member Find all posts View Profile Close fishingguy]

an RCI point is an RCI point....

You've already got some very good insight and advice from other members. Nothing they are offering in you presentation is much different than what is already on eBay -- even if it is pre-construction. In the end, all RCI Points trade the same, so you can get them by buying at another resort for hardly more than closing costs and resort fees.

Like already pointed out, I wouldn't even go back if I didn't sign anything. Stick around the forum and read about RCI Points, exchanging, how they work, what is required, etc.; you'll wish you had later, if you proceed with the purchase.

[samajor0323 Junior Member Find all posts View Profile Close samajor0323]

Thank you!

Thanks to all of you for your comments. I had some deep reservations about doing this, so that is why I posted.

I will definitely stick around this forum for a long time to come, and do more research. Thanks again to all who took the time to respond...it is deeply appreciated.