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Timeshare Points: Are They Worth It?

timeshare points

July 13, 2018 – by Primo Management Group

timeshare points

Are timeshare points better than traditional timeshares? Let’s take a look.

When most people think of timeshares, they think of fixed week timeshares, where owners have access to the same property for the same week of the year forever. This fixed week arrangement is one model, but another model revolves around timeshare points. These points-based systems were introduced in 1974. Owners buy a set number of points that give them various vacation options. The available options depend on your specific company. Then you get points every year to use as you choose.

What do you need to know about timeshare points?

Why Points?

Fixed week timeshares have a number of drawbacks. The points system addresses some of these issues.

With points, you could potentially go anywhere, anytime. But there’s no guarantee that what you want will be available when you want it. So, what you gain with flexibility, you lose in security. With a fixed week, you can pretty much count on that week being there for you. Right where you left it. Whether you like it or not. With points, you don’t have that option, but you can choose from a much wider array of times and locations.

However, many of the problems of traditional timeshares persist with points-based systems. Let’s take a closer look at some of the issues with points.

Problem: Complexity

It’s difficult to figure out what is in the points system. Because the value of a point depends on when and where you use it, things get complicated pretty fast. And if you’re part of a vacation club like RCI that allows you to use points for travel, then you need to figure that out, too. 

If you’re particularly savvy at untangling complex systems and willing to put in the time to maximize your points and your pleasure, then points can be a good choice. However, not everyone has the desire or the ability to do that. But watch out! Once you have it all figured out, your vacation club may change its rules.

Problem: Maintenance Fees

Maintenance fees are the number one reason for timeshare sales and timeshare exits, and that goes for all types of timeshares. If you were hoping to escape maintenance fees by going for timeshare points, you’ll be disappointed. Points-based timeshares have fees just like any other type of timeshare.

But how are they calculated? Like most aspects of points-based timeshares and vacation clubs, the answer is tricky. In general, your fees will be calculated based on the number of points you own and your home resort. The fees required will vary by location. However, your fees don’t go down if you end up using your points at a resort with lower fees. Your fees remain the same. Resorts calculate your maintenance fees based on your home resort. Even if you never go there.

For example, 2018 maintenance fees for Disney’s Animal Kingdom are $6.76 per point while Hilton Head is $7.72. If Hilton Head is your home resort and you end up staying at Animal Kingdom, you’ll still pay $7.72 per point in fees.

And like fixed week timeshares, you have to pay your fees whether you use your points or not.

Problem: Availability

Unlike fixed week timeshares where you have a guaranteed week, points-based timeshares can be used anytime. However, getting the time you want where you want can be difficult. For high-value weeks, you’ll need to book as much in advance as possible. Sometimes this will mean scheduling up to 15 months in advance. And if you book during a high-value time, you’ll use more points.

Problem: Unused Points

With fixed week timeshares, when you can’t use your week, you may lose it. With points, if you don’t use them, you may lose them. You may have some options depending on your resort and the specifics of your agreement.

Most timeshare points have an expiration date. Typically you can rollover some unused points for use the following year or extend the expiration date on their points. Of course, you’ll pay an additional fee for that.

Problem: Renting Points

If you do have unused points, you may be able to rent them to other people depending on your specific agreement. However, a rental contract with points is more involved than fixed week timeshares.

Owners seeking to rent points can take the simple route and just rent those points. But keep in mind, it can be difficult to find a renter for abstract points when they have no guarantee of getting a week that works for them.

Another method is to redeem your points for the the “best” possible week and location. Then you can rent out that week. If you can arrange for a high demand week, renting will be much easier. However, this can be risky. If you can’t find a renter, you’ve already used your points. And you may find yourself having to lower your price and lose money.

Another way to approach renting is to keep an eye on ads from people who want to rent and then contact them. This requires more legwork on your end but can be a less risky and more reliable way to rent your unused points.

Problem: Exiting Your Points-Based Timeshare

Although right now, you may have trouble imagining a world where you couldn’t use your points or afford the fees, that can change. People want to exit timeshares for all kinds of reasons. As with fixed week or floating week timeshares, it can be difficult to exit your timeshare. If you are having trouble getting out of your timeshare, we specialize in helping people like you. Contact us at Primo Management Group for a free consultation. No high-pressure sales, we promise!

So, Do I Want to Use Points?

Just like everything points-related, that depends.

If you already own a fixed week timeshare, your resort may decide to convert to timeshare points. And if they do, you can be sure they’ll be contacting you. Remember that high-pressure sales pitch that got you into your timeshare? It’s ba-ack. Fixed week owners are often told they “have” to switch. But this is usually just another kind of timeshare scam.

Typically, you will not need to convert unless you want to. If you’re happy with your week and your location, you can keep everything just as it is. If you do want to convert, your resort will be more than happy to accommodate you…AND they’ll be sure to charge you conversion fees for the privilege of transitioning into a different system.

If you’re a first-time timeshare buyer, we’d recommend that you try renting before buying any kind of timeshare.

And if you need to exit your points-based timeshare, we can help.

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Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.