Is the point system on a timeshare a bad way to save money for vacationing?
If someone could please explain the point system ( ike diamond resorts uses) why it is good or bad. I have heard why the regular timeshare is bad, but the point system seems different. Anyone with personal experience would be great.
Point systems were created because the resorts where running out of things to sell. If they deed weeks they can only sell 50 weeks per unit. Obviously that puts a cap on how much the resort can make. With points there is no limit to how many points they can sell because a point is fictitious and has no value compared to a physical deeded week. Usually they do have a set amount they can sell specified in the resort docs however it is usually always stated that they can increase that amount. The nice part to points is you can use them at many resorts especially if you are talking Wyndham, Diamond, or even DVC. This gives you a lot more flexibility.
If you are looking at Timeshare points as a way to save for vacation I suggest a savings account and renting a timeshare. I rent timeshares a couple times a year and love it. I usually pay $500 to $1000 depending on what resort I am going to. I would suggest you rent a timeshare a few times and see if this is something you want to then buy into. You don’t want to buy it then never use it like most people do. Check out http://www.buyatimeshare.com that is where I get most of my rentals.
Related posts:
- What are the benefits to buying into a timeshare?
- Is there a difference timeshare points from wyndahm and resale?
- How do you sell a timeshare with RCI Points?
- What’s the best way to sell a timeshare/vacation package without being scammed out of money?
Tagged with: Buying Timeshare • renting timeshare • Timeshare info
Filed under: Timeshare News
Like this post? Subscribe to my RSS feed and get loads more!
Point systems were created because the resorts where running out of things to sell. If they deed weeks they can only sell 50 weeks per unit. Obviously that puts a cap on how much the resort can make. With points there is no limit to how many points they can sell because a point is fictitious and has no value compared to a physical deeded week. Usually they do have a set amount they can sell specified in the resort docs however it is usually always stated that they can increase that amount. The nice part to points is you can use them at many resorts especially if you are talking Wyndham, Diamond, or even DVC. This gives you a lot more flexibility.
If you are looking at Timeshare points as a way to save for vacation I suggest a savings account and renting a timeshare. I rent timeshares a couple times a year and love it. I usually pay $500 to $1000 depending on what resort I am going to. I would suggest you rent a timeshare a few times and see if this is something you want to then buy into. You don’t want to buy it then never use it like most people do. Check out http://www.buyatimeshare.com that is where I get most of my rentals.
References :
http://www.buyatimeshare.com