NOSY RCI question

[flipflopmom]

SO a friend of mine and her boyfriend just got back from Vegas. They didn't get married, but they did come home with a breand spankin' new RCI timeshare in Vegas.

She's relatively young, and knew we were DVC owners and wanted to talk. Now, I know NOTHING about RCI. But she was telling me their MF's, and their monthly mortgage on it, which is lower than our DVC and for only 5 years instead of our 10. (No financing flames, please. It will be paid off before 10 years. Just mentioned for comparison sake.)

She was telling me they had a special for teachers where the 5K to buy points instead of weeks was waived, so they did points. I asked her how many points they bought, and she said 49,000. I am assuming that there is a large differential in the amount of RCI points it would take to rent a DVC vs. the number of DVC points? Is that correct?

Just being nosy to the comparison rate!

Thanks!

 

[Inkmahm]

Yes, a large difference. We used my inlaws RCI points to book a 2 bedroom at OKW in December. I think it was about 68,000 points being the low season. We also booked a one bedroom at Kidani for next March and that I think was about 72,000 points. I'm probably off 1k or 2k in total points but that gives you a general idea. The points do vary by season, just like DVC points, for what you can get.

 

[DVCconvert]

I asked her how many points they bought, and she said 49,000. I am assuming that there is a large differential in the amount of RCI points it would take to rent a DVC vs. the number of DVC points? Is that correct?

Well -- unless your young friend had about 1/2 Million dollars to spend on an impulse purchase....I'd say you can safely assume there IS a "large differential" !

 

[flipflopmom]

Well -- unless your young friend had about 1/2 Million dollars to spend on an impulse purchase....I'd say you can safely assume there IS a "large differential" !

EXACTLY!!!!! Just wondered what the conversion rate was. I'd LOVE to have 49K DVC points!

 

[dianeschlicht]

EXACTLY!!!!! Just wondered what the conversion rate was. I'd LOVE to have 49K DVC points!

LOL, but that 49K is definitely over the maximum DVC allows!

 

[Dean]

It sounds like they bought RCI points through the Grandview resort. They should consider canceling immediately and educating themselves before making such a commitment.

 

[JimMIA]

First of all, I'd tell her to take Dean's advice.

If she doubts the advice, tell her to do a search on eBay for RCI points.

If she does that search...tell her you are sorry for breaking her heart.

 

[LouisianaDisneyFan]

The worst thing about RCI is that they do not let you view the ACTUAL trades you can make before you are a member. At 49,000, I think your friend is going to have a hard time finding trades that she actually wants to make on an annual basis. Plus, you sink money into each reservation you make in their system, even at your home resort. In the long run, I think she will end up with much less than she thought, for a higher price, and with virtually no resale market to dump it afterward.

 

[Dean]

The worst thing about RCI is that they do not let you view the ACTUAL trades you can make before you are a member. At 49,000, I think your friend is going to have a hard time finding trades that she actually wants to make on an annual basis. Plus, you sink money into each reservation you make in their system, even at your home resort. In the long run, I think she will end up with much less than she thought, for a higher price, and with virtually no resale market to dump it afterward.

At 49K points they could do fine plus there are other ways to get additional points. I only technically have 49K points but have had almost 500K points in my account at one time. Actually I think Grandview is a great place to own for RCI points if that's where they're looking given it gets 49K for many weeks and 60K for many others for a 1 BR with fees under $350 a year. Of course you have the RCI points membership fees and exchange fees. But one should be able to get a 49K week MUCH cheaper and a 60K week for a modest amount more. Plus, while GV is a nice enough resort, it's location and inherent value leave something to be desired.

 

[LouisianaDisneyFan]

At 49K points they could do fine plus there are other ways to get additional points. I only technically have 49K points but have had almost 500K points in my account at one time. Actually I think Grandview is a great place to own for RCI points if that's where they're looking given it gets 49K for many weeks and 60K for many others for a 1 BR with fees under $350 a year. Of course you have the RCI points membership fees and exchange fees. But one should be able to get a 49K week MUCH cheaper and a 60K week for a modest amount more. Plus, while GV is a nice enough resort, it's location and inherent value leave something to be desired.

You've confused me...
It sounds like you disagree with my post when you say they can find good trades with 49,000 (we couldn't when we had points via Westgate in Branson, but I didn't know about ways to get extra points). You also wrote that Grandview was a good place to own. But then you write "Plus, while..." With that sentence, it seems to support what I wrote with her friend having difficulty with reselling due to the inherent value. Do you think they made a good purchase or a poor one?

 

[Nikisha421]

I know nothing about rci but did go to ebay and search for RCI points the first one that came up is 36,400 points starting bid $43.82. I dont know anything like I said but what can you really get with 36, 400 points???

 

[Dean]

You've confused me...
It sounds like you disagree with my post when you say they can find good trades with 49,000 (we couldn't when we had points via Westgate in Branson, but I didn't know about ways to get extra points). You also wrote that Grandview was a good place to own. But then you write "Plus, while..." With that sentence, it seems to support what I wrote with her friend having difficulty with reselling due to the inherent value. Do you think they made a good purchase or a poor one?

I think you're confusing the 2 components of this issue, sorry for jumping between the 2. One is that of buying in from a developer and the other is the reasonableness of the underlying issue. There are few situations where buying from the developer is a good idea, this is one that almost certainly isn't one where buying is a good idea.

From a usage standpoint, one needs to learn the ropes with ANY timeshare because there will be winners and loser and you want to be a winner. 49K RCI points will get you a 1 BR 2 out of 3 to 3 out of 4 years and a 2 BR about EOY. Other ways to get extra points include depositing fixed weeks from non points resorts into the account or getting a transfer of points from other members.

I wasn't aware the Westgate resorts in Branson were a member of RCI points?

 

[Dean]

I know nothing about rci but did go to ebay and search for RCI points the first one that came up is 36,400 points starting bid $43.82. I dont know anything like I said but what can you really get with 36, 400 points???

There will be options added by the day. I didn't see any good current options other than a couple in Orlando and that would prevent one trading in to DVC. Look at price but also look at points compared to dues even more so. The only other consideration is if you can use the underlying week, say race week Daytona. The cheapest points to dues I know of is Raburn in TX but the price for the good weeks is too high simply because they're playing off the low fees and relatively high points. Grandview is about the next best I know of outside of Orlando. Better weeks at the Weston resorts and Orlando resorts (Summer Bay, Villages at Parkway) are some of the better choices but as I mentioned, will likely lock you out of DVC.

 

[LouisianaDisneyFan]

I wasn't aware the Westgate resorts in Branson were a member of RCI points?

Westgate Branson Woods was an acquired property. If you purchased prior to Westgate purchasing it (which included our units), you were on a points program. When the property was purchased, we were given the option to bank as weeks or to bank as points with RCI. That was part of the negotiation when Westgate purchased the property. Too bad the owners didn't also insist on a mandatory buy-out clause if Westgate ruined the property... because that's exactly what they did. The timeshare went from the highest level to the lowest level acceptable to be included in RCI exchange within a few years' time. Our trading power went from great to practically nill as a result.

 

[Jason@dvcstore]

It sounds like they bought RCI points through the Grandview resort. They should consider canceling immediately and educating themselves before making such a commitment.

I agree with Dean.

Jason

 

[Dean]

Westgate Branson Woods was an acquired property. If you purchased prior to Westgate purchasing it (which included our units), you were on a points program. When the property was purchased, we were given the option to bank as weeks or to bank as points with RCI. That was part of the negotiation when Westgate purchased the property. Too bad the owners didn't also insist on a mandatory buy-out clause if Westgate ruined the property... because that's exactly what they did. The timeshare went from the highest level to the lowest level acceptable to be included in RCI exchange within a few years' time. Our trading power went from great to practically nill as a result.

To quote John Chase from TUG

"Wastegate Resorts - When you want to deal with the worst, we're the best!"

A company that tries to insist on ROFR when there is no legal right AND demand the real estate commission on top of that can't be all good.

I've done well with RCI points so far both to DVC and otherwise. You don't have to deal with trade power and most other restrictions, but you do have to plan even more than with weeks I think. But like anything else how it fits for your situation is ultimately the most important aspect.

 

[Nikisha421]

thanks with the response...but I am even more confused and will just stick with DVC
"the evil that I already know..." and I didnt mean that in a bad way....

 

[flipflopmom]

WOW!!! Didn't mean to open up that can of worms, especially since I didn't understand half of it.

They were mostly sold on a trip every year or two to Vegas, I *THINK* but they were also interested in long weekends to watch pro and college ball - Steelers, UNC, etc. Does it sound like, with the very limited information I have, that this will work for them?

Thanks!

 

[LouisianaDisneyFan]

To quote John Chase from TUG...

A company that tries to insist on ROFR when there is no legal right AND demand the real estate commission on top of that can't be all good.

I would agree ENTIRELY with that statement! With the property fully paid, and with many years of us being unable to trade for ANYTHING else, we finally exercised a Quit Claim Deed and gave the property back. Thing is, after Westgate agreed for us to gift them the property, and sent us all the paperwork, they still haven't filed the QC deed with Taney County. I'm now wondering if they are going to try to stiff us with yet another year of wasted MF's. Anyone reading this... if you HATE your family, purchase a Westgate property and leave it to them. They'll curse you forever!

UPDATE: I just verified with Westgate that the QCD was sent on to Taney County, but that it takes the County 90-120 days to record it. We have officially been removed from the role of owners. (YAY!!!!) Sounds like the comptroller in Taney County, Missouri, isn't as on-the-ball as Orange County, Florida, eh?!

 

[Dean]

WOW!!! Didn't mean to open up that can of worms, especially since I didn't understand half of it.

They were mostly sold on a trip every year or two to Vegas, I *THINK* but they were also interested in long weekends to watch pro and college ball - Steelers, UNC, etc. Does it sound like, with the very limited information I have, that this will work for them?

Thanks!

Likely not plus even if it did they've have to pay extra housekeeping fees usually $50-75 per each stay less than a week. Suggest they cancel and educate themselves better.