Price Per Point protection? Reduced cost in the future?

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

So we sat through a member update today - and its our first one in 7 years. We're deeded owners in the club (Gold Elite). Anyway, we were offered a so called "price per point" offer. This is where all members were offered at one time or another to upgrade points at a reduced rate ("one time offer only". If you decline, you will need to sign a waiver). If you took the offer, you will then be able to upgrade points for a lesser amount in the future (<$2 per point vs. around $4). So we bit, and ended up adding another 3K points (~$5K) just to get into that protection program (I'm using the term program, but it's not an official program per se).

Wanted to see if this has any truth to it? Or did I just get suckered into getting 3K more points? I only did it since it did look like a fairly good offer based on some quick searches I did on this forum (had my crackberry with me - and saw that most were paying over 10K for 3K points). I did also notice that these 3K points are in the trust....

Also - is converting your deed to a trust something that they may not do in the future? I thought that it was also mentioned that if we didn't' take this offer, they may not allow us to convert later on... I never felt the need - but felt that I may still want that option in case they start adding benefits to trust owners only.

I have a 7 day right to cancel period... any thoughts/opinions would be appreciated.

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

So we sat through a member update today - and its our first one in 7 years. We're deeded owners in the club (Gold Elite). Anyway, we were offered a so called "price per point" offer. This is where all members were offered at one time or another to upgrade points at a reduced rate ("one time offer only". If you decline, you will need to sign a waiver). If you took the offer, you will then be able to upgrade points for a lesser amount in the future (<$2 per point vs. around $4). So we bit, and ended up adding another 3K points (~$5K) just to get into that protection program (I'm using the term program, but it's not an official program per se).

Wanted to see if this has any truth to it? Or did I just get suckered into getting 3K more points? I only did it since it did look like a fairly good offer based on some quick searches I did on this forum (had my crackberry with me - and saw that most were paying over 10K for 3K points). I did also notice that these 3K points are in the trust....

Also - is converting your deed to a trust something that they may not do in the future? I thought that it was also mentioned that if we didn't' take this offer, they may not allow us to convert later on... I never felt the need - but felt that I may still want that option in case they start adding benefits to trust owners only.

I have a 7 day right to cancel period... any thoughts/opinions would be appreciated.

If you want to get more points in the Club, it's possible that this could be the most cost-effective way to do so. Whether or not it actually is cheapest would depend on what other options might be available - particularly as regards garnering the right to add a resale to the club.

As to the "unique opportunity" every timeshare pitch that I've ever been to has included some "unique" or "good today only" type of pitch.

The reality is that there's a bottom line price at which they are willing to sell, and if they will reduce the price to that level in some form or fashion if needed to conclude the sale.

***

As regards adding deeds to the Trust - I can't see them ever stopping that. There are too many advantages to DRI from having deeds converted to trust to expect them to give that up. If anything, they are more likely to prevent people from joining the club unless they do add their deed to the Trust.

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

So we sat through a member update today - and its our first one in 7 years. We're deeded owners in the club (Gold Elite). Anyway, we were offered a so called "price per point" offer. This is where all members were offered at one time or another to upgrade points at a reduced rate ("one time offer only". If you decline, you will need to sign a waiver). If you took the offer, you will then be able to upgrade points for a lesser amount in the future (<$2 per point vs. around $4). So we bit, and ended up adding another 3K points (~$5K) just to get into that protection program (I'm using the term program, but it's not an official program per se).

Wanted to see if this has any truth to it? Or did I just get suckered into getting 3K more points? I only did it since it did look like a fairly good offer based on some quick searches I did on this forum (had my crackberry with me - and saw that most were paying over 10K for 3K points). I did also notice that these 3K points are in the trust....

Also - is converting your deed to a trust something that they may not do in the future? I thought that it was also mentioned that if we didn't' take this offer, they may not allow us to convert later on... I never felt the need - but felt that I may still want that option in case they start adding benefits to trust owners only.

I have a 7 day right to cancel period... any thoughts/opinions would be appreciated.

This is a decision that only you can make based on your own personal needs, wants and financial situation. Even though there is much 'old' info in the stickies, the choice is yours. As TROG says, there is always a deal of the day if you go to an update and there is always a bottom line.

If you want to get more points in the Club, it's possible that this could be the most cost-effective way to do so. Whether or not it actually is cheapest would depend on what other options might be available - particularly as regards garnering the right to add a resale to the club.

As to the "unique opportunity" every timeshare pitch that I've ever been to has included some "unique" or "good today only" type of pitch.

The reality is that there's a bottom line price at which they are willing to sell, and if they will reduce the price to that level in some form or fashion if needed to conclude the sale.

***

As regards adding deeds to the Trust - I can't see them ever stopping that. There are too many advantages to DRI from having deeds converted to trust to expect them to give that up. If anything, they are more likely to prevent people from joining the club unless they do add their deed to the Trust.

There are actually quite a few deeds that DRI will not take back to give you points in the Trust unless you are buying a significant number of new points. You have Hawaii on the mind, but think about other areas that are more seasonal, they really don't want a winter Williamsburg week back as they have too many already and are always having to discount for off season to move them and the MF/point is way high and adds to the MF inflation of the Trust.

[sheilaanthony Member Find all posts View Profile Close sheilaanthony]

The first time we "upgraded" to the club and purchased 3000 points at one of the update meetings, we were told that it would allow us to bring additional contracts into the club in the future. When we returned the following year with additional ones, DRI had amnesia, said it wasn't in writing, and therefore we had to buy 3000 points again to put more contracts into the club. We did so, but were not at all happy about that, and there was no remedy offered whatsoever. When I say contracts, you might read that as "deeds"; however we kept ownership of our deeds based upon advice we received here on the Forum. Unless things have changed, I believe you have the option of keeping or giving up your deeds. So if you're happy with your purchase and your new points, and have a written contract to protect you in the future, be absolutely certain there is no fine print. "What the big print giveth, the small print takest away".

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

Appreciate the responses. Sounds like everything was just a "flavor of the day pitch" to get me to buy more points. Sheilaanthony - thanks for the info. I did look at the contract closely (yes, I know I should have done so before I signed), and there were no mention of any of the specifics they talked about. Looks like I'll be excercising my right to cancel.

Again, thanks.

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

Appreciate the responses. Sounds like everything was just a "flavor of the day pitch" to get me to buy more points. Sheilaanthony - thanks for the info. I did look at the contract closely (yes, I know I should have done so before I signed), and there were no mention of any of the specifics they talked about. Looks like I'll be excercising my right to cancel.

Again, thanks.

The bottom line here seems to be if you want the additional points or not in the future. I will tell you that the price protection piece is legitimate because they do keep a record of it. I bought points at an "update" and they promised I would keep a lower rate per point and a year later I wanted to increase to 30,000 points. I did so at the much lower rate. So the price protection is legitimate.

Also, if you are a deeded member who has the benefits of both deed and club points I would think you're in good shape. If you are Gold Elite you have a lot of time and also a lot of maintenance fees. I still have not seen the benefit of the platinum elite so strongly consider how much vacation you truly need or want because that annual bill is a killer.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

Appreciate the responses. Sounds like everything was just a "flavor of the day pitch" to get me to buy more points. Sheilaanthony - thanks for the info. I did look at the contract closely (yes, I know I should have done so before I signed), and there were no mention of any of the specifics they talked about. Looks like I'll be excercising my right to cancel.

Again, thanks.

It always takes so long to finish a contract that I don't believe anyone wants to take the time to read it through. The thing to do might be to call the salesman, tell him what you recall about the conversation, inform him of what's not in writing and see what they want to do about it.

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

Before Sunterra was bought out by Diamond, we purchased points with the guaranteed price offer. When DRI became the owner, that offer was no longer available. It seems the sales people will try just about anything to get you to buy. Remember - any legit offer will most likely be available to you in the future.

[madmitch Member Find all posts View Profile Close madmitch]

My Price-Per-Point protection rate was actually offered to friends who used some of my time for Lake Tahoe Vacation Resort a month back.
That of course was at the end of everything, and before the obligatory "buy these one-time points and we'll guarantee the price when you come back" offer, or whatever it is they do at the VERY end.

BTW -- When in Florida I opted to do the update mostly to (try and get) some answers to specific questions and for some free Arabian Night tickets. They were willing to sell me 1000 points at the protected price to keep it going, and wanted to add 50% more points free. Of course M&T isn't free.
As I didn't add to my total my protection price is kaput... but you know I'll be able to get that or close to it again IF I ever want to go above my current 30,000, which is too many for my own use at this time in life.