RCI

[ferco]

Recently traveled to the Dom Republic on a "free"voucher after our hotel all-inclusive vacation was over-booked last year in Aruba ( they put us in another hotel a little ways down the street) . In the DR we were inundated with the usual buy now presentation (s). The gal started with a $29k offer, then her manager (to close the deal) chimed in, how could we turn down the deal of a life time and dropped the package to $15k. You would still have to pay a per diem fee for the all-inclusive package.

He and she were determined to sell us and we stood our ground with the answer, "NO" and ultimately just got up and left. They seemed insulted that a couple would dare not purchase their vacation package. The room we stayed in had a broken chest drawer, we had to ask for wash towels everyday, the room door lock broke, we couldn't get a lounge chairs or towels for the beach, etc, etc.

Has anyone dealt with the Occidental / RCI system personally. I wasn't impressed and the whole thing sounded too complicated, expensive, and didn't quite hit us right. We bought a time-share 20 years ago and eventually donated it to a local church vowing NEVER to buy anything like it again and we haven't.We just pay as we go and utilize those things we have some derstanding and control of, like CC reward miles etc.

Any others with simillar experiences ?

 

[mystang52]

Many years ago I went to a couple of timeshare presentations. I could never determine how the numbers worked out to my advantage. Up-front cost, annual maintenance fee, etc. If there was a break-even point, it was many years down the road - and by then who knew what that annual maintenance fee would be, if my vacation tastes would change etc. Further, like you I felt I was at a used car lot (no offense to used car salesmen).
Finally, when I vacation I want to be on vacation - we don't want to make our bed, cook meals, etc. Timeshares definitely not for us - financially or otherwise.

 

[kcowan]

The average fractional timeshare sells for 4-5 times what a direct condo purchase would cost. Point-oriented TS are much high ratio. Some TS are great. Pueblo Bonito in Mazatlan for instance. But the weekly maintenance fees are often higher than the cost of a direct purchase on a package vacation trip.

RCI is expensive and most desirable locations/times require booking 2 years in advance. There is the annual fee and then an exchange fee for each swap.

FIL bought 3 weeks fixed unit/time in PV in 1983 for $40k. We sold it in 2008 for $4k with only 5 years left. Weekly maintenance fees are $945 now. It was a great experinece because we made many lasting friends who owned the same 3 weeks or less, kind of like a cottage. (Same time next year!)

But we have never bought a TS and never will. To assess realistic prices, look on TUG.

 

[Texas Proud]

I have only met one guy who actually like his time shares....

This was when I lived in NY... he had one for a very popular vacation site somewhere around there... and he said that it was worth more than he paid for it... and that if someone booked it 'today', they would pay more than twice his total annual costs...

He also had one down in Florida... he said that it was not as valuable as NY, but it was easy for him.... he did not have to spend time booking etc. etc.... he knew where he was going to stay and where everything was around it...

For someone who has two weeks or more of time where they are happy going to the same place year after year, it might be OK... but I have never seen where the money spent is worth the value you receive...

 

[Brat]

We had a TC in Jackson Hole for many years, eventually sold it to another owner who had the same weeks and wanted to accommodate more family members. We received slightly more than our initial investment so count ourselves lucky.

We traded weeks through RCI. They provide a nice service but the cost was getting prohibitive and finding a unit that we wanted was a roll of the dice.

In the 70s when we purchased our TC inter net access for vacation accommodations wasn't available. I don't see the benefit today. TC annual costs (maintenance + RCI) isn't much less than renting. In addition, as an owner, you are personally liable for the ongoing maintenance costs. Just doesn't pencil out now.

 

[harley]

We often stay cheaply in a nice place and go through the timeshare sales pitches. Just did it last month in Disney (FL). I have no problem saying no. But I think the salespeople are true believers, as opposed to just sales cons. They truly seem to not get it when I show them how I can go anywhere I want, and stay in a nice place for significantly less than the cost and annual fees of a time share. Plus, we don't really travel that often. I guess they don't understand the concept of compounding vs. paying interest. The last guy was really pushing us to buy on the basis of "if you buy a timeshare you'll do a lot more travelling because you already paid for it". Huh? How's that gym membership working out for you?

 

[jimnjana]

Armed Forces Vacation Club is a great way to benefit from the large volume of unsold/unused TS out there. (RCI program, but base ITT offices get a kickback for renting them out) Less than 400 bucks to rent a space available unit. Have not drunk the TS kool-aid, but do enjoy using other peoples TS. RCI is also working with travel agents to book unsold/unused units as well as other units available for rent.

 

[martyb]

Armed Forces Vacation Club is a great way to benefit from the large volume of unsold/unused TS out there. (RCI program, but base ITT offices get a kickback for renting them out) Less than 400 bucks to rent a space available unit. Have not drunk the TS kool-aid, but do enjoy using other peoples TS. RCI is also working with travel agents to book unsold/unused units as well as other units available for rent.

Thanks for reminding me about AFVC....since I've retired(reserves), I had forgotten all about them! I'm gonna definitely be using them when I'm FULLY retired...which is pretty soon!

 

[jimnjana]

Many years ago I went to a couple of timeshare presentations. I could never determine how the numbers worked out to my advantage. Up-front cost, annual maintenance fee, etc. If there was a break-even point, it was many years down the road - and by then who knew what that annual maintenance fee would be, if my vacation tastes would change etc. Further, like you I felt I was at a used car lot (no offense to used car salesmen).
Finally, when I vacation I want to be on vacation - we don't want to make our bed, cook meals, etc. Timeshares definitely not for us - financially or otherwise.

We used to do this all the time, in fact on our wedding night, we stayed at a "free" hotel courtesy of a TS presentation visit we had completed earlier in the year. Talk about cheap weddings. (I guess that would be a different thread) Part of the reason we did it was that the initial presentations were neary where we lived in Atlanta. Anyway, we traveled to Florida at least 6 times back in the late 90s on free stays at various TS. Also a Caribbean Cruise, Bahama Treasure Island Vacation (it was under construction) vacation, Pigeon Forge etc.. It was fun and very cheap, but at some point we just go tired with the whole process. We were at the point where we knew what words were coming next in the sales pitches, kinda scary. Also, DW very much agrees with your sentiment about having to cook etc.

 

[Pajaro]

Armed Forces Vacation Club is a great way to benefit from the large volume of unsold/unused TS out there. (RCI program, but base ITT offices get a kickback for renting them out) Less than 400 bucks to rent a space available unit. Have not drunk the TS kool-aid, but do enjoy using other peoples TS. RCI is also working with travel agents to book unsold/unused units as well as other units available for rent.

I've used AFVC 4 times (Asheville NC, Destin FL, Malta, and St Lucia) and really like the service. If you go for the week after Labor Day when the kids are in school but the weather is nice, you can get a great place for a very reasonable price.

 

[tmm99]

The last guy was really pushing us to buy on the basis of "if you buy a timeshare you'll do a lot more travelling because you already paid for it". Huh? How's that gym membership working out for you?

GOOD point!!

 

[Chuckanut]

Timeshare properties can often be purchased on the after market for pennies on the dollar. Some people just want somebody to take over the payments and monthly fees. Of course, that depends on the location and time of year that one is purchasing.