Hello- New to Timeshares

[2ndsout Junior Member Find all posts View Profile Close 2ndsout]

I am currently on vacation in Hilton Head. Yesterday we got in with RCI for a Timeshare. I've been thinking about it and we worked some details with RCI to make it affordable for us. We live in Ohio. This is our first timeshare... so I am new to all of this- but want to make it work for future vacations; as it is me, my wife; and our young son. I've been digging around on this website since late last night and a little today. We got a good deal.

I'm sure there are some parts of the site I haven't discovered yet. Are there any good points, tips, etc. that I can read up on now to make our timeshare work for us- when we want to use it, etc.

Thoughts, comments and good things for the future are what I am looking for here. Any help and insight that everyone could provide will be greatly appreciated.

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

If you just bought retail, rescind now!!

There is nothing that you could have bought at the resort that you can't buy for a fraction of that cost resale. Please pay attention, cancel, rescind your purchase now. Then learn what timeshares are and how to buy them.
The 1st hint that you are lost is that RCI doesn't sell timeshares, they are a trading company, and anything a timeshare weasel told you is either a lie or at the minimum a miss spoken half truth.
fwiw,

Greg

I am currently on vacation in Hilton Head. Yesterday we got in with RCI for a Timeshare. I've been thinking about it and we worked some details with RCI to make it affordable for us. We live in Ohio. This is our first timeshare... so I am new to all of this- but want to make it work for future vacations; as it is me, my wife; and our young son. I've been digging around on this website since late last night and a little today. We got a good deal.

I'm sure there are some parts of the site I haven't discovered yet. Are there any good points, tips, etc. that I can read up on now to make our timeshare work for us- when we want to use it, etc.

Thoughts, comments and good things for the future are what I am looking for here. Any help and insight that everyone could provide will be greatly appreciated.

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

Not sure what you mean by "got in with RCI for a timeshare?"

I wouldn't recommend buying anything while you are on vacation, and certainly not from a resort/developer.

eta: It sounds like you may have already purchased. I would suggest a google search for "timeshare rescind." You say you "got a good deal," in which case this may not apply, but you may want to check. Did you buy resale from an existing owner?

Here's one thread on the topic:

http://www.timeshareforums.com/forum...nd-cancel.html

[2ndsout Junior Member Find all posts View Profile Close 2ndsout]

Not sure what you mean by "got in with RCI for a timeshare?"

I wouldn't recommend buying anything while you are on vacation, and certainly not from a resort/developer.

eta: It sounds like you may have already purchased. I would suggest a google search for "timeshare rescind." You say you "got a good deal," in which case this may not apply, but you may want to check. Did you buy resale from an existing owner?

Here's one thread on the topic:

http://www.timeshareforums.com/forum...nd-cancel.html

To your reply- Yes. We got a resale that was from an existing owner that had less then $9K on it.

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

To your reply- Yes. We got a resale that was from an existing owner that had less then $9K on it.

Sorry, confusing post since it sounded like you have been negotiating with RCI.

If you have made a purchase of a resale that you are convinced is a good deal, enjoy your purchase!. Is it a place that you would want to use most years instead of exchanging? I'm not sure what you're asking in your post.

Check out the Exchanging Forum under General Timesharing if you have questions about exchanging:

Exchanging forum - Timeshare Forums

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

9K is a lot of money

If you've thoroughly researched it, understand what you're purchasing and how you'll use it, and understand what comparable properties are selling for, you'll be fine.

If you bought under the pressure cooker of a sales presentation, rescind for now. You can always get that deal back if you decide it was the right option for you, and there is a very good chance you'll determine that 9K is overpriced.

There are some things in your post that sound a bit confusing whether you bought from an individual or from RCI. Either way, cancel if you can.

Anita

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

Wow

Yes 9K is a bundle (well a bundle minus 1k).

I didn't think there were any 9k (resale) resorts on Hilton Head.

Maybe I read it wrong?

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

A huge portion of whether you got a good deal depends on what season you bought and what resort you bought. On ebay currently I see:
MARRIOTT GRANDE OCEAN HILTON HEAD TIMESHARE FOR SALE
2BR ANNUAL OCEANFRONT UNIT - GOLD SEASON
3 Bids $4,250.00 Time left:6d 5h 25m

Whether or not it was a good deal has absolutely nothing to do with the price the developer wants for the same thing. Timeshares are going re-sale for, literally, pennies on the dollar compared to developer prices. Times are tough and people just want out of maintenance fees. You'll find people willing to give them away--at good resorts at good times of the year.

In my opinion, you need to find out what is available on the re-sale market and take some time to find out if timesharing will really be a good thing for you and your family. All of us on this board own timeshares, so it isn't that we don't like them. We're offering you some very valuable advice--advice that some of us didn't get to begin with.

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

You might also take a look at the bargain sales on Redweek.com
Bargain Timeshare Resales

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

I agree with everyone here and would rescind the contract while you still can. Time is off the essence here so you will have to do it immediately and the way it is stipulated in the contract of which you have a copy in your paperwork.

Remember that it is very easy to buy a timeshare from a timeshare developer but not easy to sell it and with a big loss too unless you bought it on the resale market for pennies on the dollar.

Don't let this chance pass you by. Timeshares may even be cheaper at the end of the year when maintenance fees are due again so don't even hurry buying another one until later. JMHO.

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

Folks, OP has not asked whether he/she paid too much - purchased resale and is convinced it's a "good deal." A platinum/prime summer Hilton Head week could well be worth $9K. I sold one for $7K several years ago, having paid $6K for it three years prior.

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

I am currently on vacation in Hilton Head. Yesterday we got in with RCI for a Timeshare. I've been thinking about it and we worked some details with RCI to make it affordable for us. We live in Ohio. This is our first timeshare... so I am new to all of this- but want to make it work for future vacations; as it is me, my wife; and our young son. I've been digging around on this website since late last night and a little today. We got a good deal.

I'm sure there are some parts of the site I haven't discovered yet. Are there any good points, tips, etc. that I can read up on now to make our timeshare work for us- when we want to use it, etc.

Thoughts, comments and good things for the future are what I am looking for here. Any help and insight that everyone could provide will be greatly appreciated.

If you could be more specific as to what resort/program you bought at perhaps we could be of more help.

It sounds like you took over the payments/contract on a timeshare at HHI?

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

Hi Glitter

The OP was exhibiting signs of TSW euphoria, and we are just trying to get them to realize that maybe this isn't such a good deal while they have the chance to rescind.

If this is a Marriott Platinum Summer week with Ocean View, then truly $9K is a good price.

However if this is any other resort it probably isn't a good value. We own 11 weeks on HHI, all summer weeks all 2 bedrooms and the most I paid for any of them was under $1K.

We only have this brief opportunity to help the OP rescind if this isn't that Great deal they think they got.

jmho,
Greg

Folks, OP has not asked whether he/she paid too much - purchased resale and is convinced it's a "good deal." A platinum/prime summer Hilton Head week could well be worth $9K. I sold one for $7K several years ago, having paid $6K for it three years prior.

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

The OP was exhibiting signs of TSW euphoria, and we are just trying to get them to realize that maybe this isn't such a good deal while they have the chance to rescind.

If this is a Marriott Platinum Summer week with Ocean View, then truly $9K is a good price.

However if this is any other resort it probably isn't a good value. We own 11 weeks on HHI, all summer weeks all 2 bedrooms and the most I paid for any of them was under $1K.

We only have this brief opportunity to help the OP rescind if this isn't that Great deal they think they got.

jmho,
Greg

I hear you, Greg. I'm just sensitive about possibly going a bit overboard at times. After all, there are timeshares out there with some real value, and real people sometimes try to sell them.

I definitely know you are a concerned citizen and are very generous with your time and sage advice.
I guess if the OP had a Marriott, he prob wouldn't be talking RCI (unless perhaps Monarch). My Marriott was inland, though

"TSW Euphoria," good one!

[2ndsout Junior Member Find all posts View Profile Close 2ndsout]

Folks, OP has not asked whether he/she paid too much - purchased resale and is convinced it's a "good deal." A platinum/prime summer Hilton Head week could well be worth $9K. I sold one for $7K several years ago, having paid $6K for it three years prior.

This is with RCI- and we have one week guaranteed in Hilton Head with Golf Package that is our home resort. The other two weeks can be taken anywhere else in the RCI inventory of resorts.

This WAS a resale package and NOT a new package. I just want to make this clear to everyone, so please don't misunderstand me. I wasn't about ready to shell out $13K to $17K for new.