YOU WON'T BELIEVE HOW MUCH IT COSTS! - Full Cost of Marriott Vacation Club
Рет қаралды 9,908
Күн бұрынAre you considering a Marriott Vacation Club timeshare purchase? Looking to Buy points through Abound by Marriott Vacations? In this video I go over all the costs, all the numbers and a lot of math to give you the full cost of Marriott Vacation Club trust points. Included with this is a free digital download. You can use it to follow along or run through your own scenarios to see if MVC timeshare ownership is right for you.
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0:00 Introduction
0:38 Free Companion Digital Download!
1:50 Purchase Costs
4:54 Club Dues
5:47 Total Cost Without Financing
6:36 First Day Incentives
8:06 Financing
9:49 Financing Incentive
12:07 Resale Value & Opportunity Costs
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@DestinationTimeshare 11 ай бұрын
*Access the Digital Download & MVC Made Easy* ▸ Digital Download - destinationtimeshare.teachable.com/p/my-downloadable-211165 ▸ MVC Made Easy - destinationtimeshare.teachable.com/p/mvc-made-easy
@TravelingWithEmMe 11 ай бұрын
As a MVC owner everything you said is facts! The maintenance fees are the worse part!
@frederickcrawford5481 11 ай бұрын
Thanks for sharing. This is very helpful. Love all your videos.
@DestinationTimeshare 11 ай бұрын
You are so welcome! Thanks for stopping by and checking them out!
@fitnessnbeer9835 11 ай бұрын
Oooh weee! Great video!👏🏾 I appreciate the honest taking into account all of the transaction costs. The costs are not as transparent during a presentation.
@DestinationTimeshare 11 ай бұрын
I haven't seen them break down the costs at a presentation in a long time. They never talk about total cost when financing and just focus on the monthly payment. Those payments add up to a lot more money over time. Thanks for stopping in and checking out the video!
@tonang33 11 ай бұрын
What a great informative video. I have a MVC timeshare I use it but as I get older I no longer want to travel as much as I did. Your video hits the spot for a real informative look at timeshare.
@DestinationTimeshare 11 ай бұрын
Thanks for watching!
@Jyeoi 5 ай бұрын
U can transfer to yr kids, no fee
@krislimpus 11 ай бұрын
Thanks for the video! Well done.. I hope more and more people see it. I was playing with the new club points calculator. In Feb. 7 nights at Westin Kaanapali in a 1-Bedroom (Island View) was 4475 club points... So $74,285 before discounts/incentives.😳 You can buy a Westin Kierland Gold resale to replicate that for $5,000 and your maintenance fee is about $1,000 less per year.
@jacquesdumouchel163 6 ай бұрын
Thanks so much. You confirm our intuition that we had when we were presented the program just yesterday!! We said no!! Whew! 😅👍
@DestinationTimeshare 6 ай бұрын
Good decision.
@tha92106 11 ай бұрын
A suggestion for a future video is the value of having cash available in an economic downturn. That is generally true. As the saying goes "the time to buy is when blood is running in the streets" (a bit grim, I agree). After the 2008 real estate crash I was able to purchase additional enrolled 😎weeks from the HOA at our timeshare resort (associated with one of the major hotel companies) for near resale prices. It has annoyed the timeshare sales people at every owner update since 😈
@janinegarbacz4682 27 күн бұрын
Your presentation is very helpful thank you for all the information
@DestinationTimeshare 25 күн бұрын
You are very welcome
@njoylife2day 10 ай бұрын
I financed my purchase throught them, but within 2 months I took a personal loan with a much lower interest rate and paid off the VSN loan. Thank again for the video.
@randyk2512 9 ай бұрын
Excellent video and I appreciate the math. I just bought a few days ago and have 7 days to cancel. You may have just saved me a bunch of money. I'm more like another commenter where I can travel at somewhat off-times to get a lower point per night average cost. I've made a spreadsheet to determine my cost over 10 & 20 years since I'm already 65, and using 3% per year for maintenance increase and whether I use 5 or 7 days with the 1500 points. They did say the membership fee of 240 wouldn't change. Either way it all calculates to a lot of $$$ per day. All the math I couldn't determine in a 90 minutes presentation in Hawaii.
@DestinationTimeshare 9 ай бұрын
If you are within the rescission period, certainly take advantage of that. Read through your contract to find the instructions and address to mail it to. You have a limited time to rescind, but once you are past that date you are locked in for a long time and the monetary value of what you own is very little. Thanks for watching!
@FoxFamTV 11 ай бұрын
Wow I’m sure the MVC salesperson won’t break down how much you’ll have to spend over the entire 30 years. I think timeshares can be a great deal if you do the research (like watching all of Destination Timeshares videos and joining TUG). Personally I would never buy into points. I have been happy with my resale timeshares that I bought for a fraction of what Marriott would have charged. Maybe I face some limitations regarding flexibility but I like taking 1 - 2 week vacations and love planning a year in advance. Yes there is a cost to trading with Interval but I am always trading up and sometimes into bigger units so I love that aspect of the timeshare game. Thanks for your videos!!
@DestinationTimeshare 11 ай бұрын
Yeah. Back when Marriott still sold weeks, they would do these kinds of numbers and show how buying in could save you over just renting a room online. The number certainly aren't the same once they switched to points. Using legacy weeks to trade through Interval International is, what I consider, the best way to get the most value out of the system. It just requires more work to make it all happen. Thanks for watching!
@thejokerspeaks 11 ай бұрын
I spent about $3,500 on 3 resale timeshares. The maintenance is $3,000 per year. Putting them in the context of 7 nights in Hawaii in a 2-bedroom, our HGVC contract would take 2 years in points, and cost us $2,400. Our Wyndham contract would take 1.5 years in points, or $1,650. Our EOY Wyndham contract came loaded with double the normal points, so would only cost us $740.
@DestinationTimeshare 11 ай бұрын
Resale is certainly the way to go to save on those upfront costs. Thanks for watching!
@pennyarizzio2824 11 ай бұрын
What were the closing costs for the 3 timeshares? That is such a great idea!
@DestinationTimeshare 11 ай бұрын
@@pennyarizzio2824 Generally for a resale deed, you can get a closing for under $300. I am currently closing on a Wyndham contract and the closing costs through a third party company are $225+recording and mailing fees. There is also a $399 Club Wyndham transfer fee. Not all timeshare companies charge such a high transfer fee. For Marriott it is only $25/deed.
@pennyarizzio2824 11 ай бұрын
@@DestinationTimeshare This was my cost.. Purchase Price $4999 Approx Closing Cost $675 Transfer Fee $460.00 Club Dues $199.00 paid annually ($216 international) Estoppel Fee $89 Club Fee $655 billed at closing from resort Total Purchase Price $7077 + reimbursement of maintenance fees and taxes for use of 2023 points. Does that seem right? To late now but for he future..? Thank you so much for always answering my questions.
@thejokerspeaks 11 ай бұрын
@@pennyarizzio2824 Hilton was the most expensive, about $1,500 for closing, club activation, and transfer fees. Wyndham was only $600 each.
@sandmanoseven 8 ай бұрын
Thanks for posting this I will never buy it. Sat in on a free night sell, it was a waste of my time and theirs, but I am glad I just took the free night.
@DestinationTimeshare 8 ай бұрын
Taking advantage of promo for a timeshare presentation is great, though one needs to have the resolve to be sure they say NO. Thanks for watching!
@1955mlynch 10 ай бұрын
hi Jeremy, thanks for this video and candor. We have watched most of your YT videos and have the MVC made easy course. After watching the recent videos; is the best destination still a timeshare? We think not. Our children have no interest or ability to pay the maintanence fees. For as expensive as continued Marriott Vaction Club ownership is, we wish that reservations were easier to make and use. All the strategies, like "renting to cover maintance fees" are a diversion from the central point that this simply is not the deal it used to be. The quality of the site maintanence has noticably declined at many sites. So increased fees are yeilding less. Our last several stays in various locations often included waiting for maintanence personnel to address issues in the villas. And because MVC sites are booked so tightly, the ability to move to another villa is reduced when an issue comes up. In addition, our advice would be to not purchase deeded weeks (direct from MVC or on the resale market) at any of the South Carolina locations Transeferring or making changes in ownsership in South Carolina is painful and expensive...you must use an attorney in South Carolina to even add a spouse on the deed.
@jasavak 8 ай бұрын
The best destination is a timeshare , but it also can be the worse investment of your money .
@chad77002 11 ай бұрын
One thing that I think is off…you added 14 bonus nights booked with pluspoints. You also subtracted the $6k dollar value of those pluspoints. This has a double impact of the pluspoints in your equation. Either add 14 nights or subtract $6k. You can’t do both.
@DestinationTimeshare 11 ай бұрын
Hello Chad, Thanks for watching. You make a good point. I was actually thinking about this very thing as I was editing the video. I thought I should revise it but opted to just keep it as is since a) it doesn't fundamentally change the cost all that much in the long run and b) people can opt to calculate it either way with the free companion digital download. Good to point it out though as I would agree, should just be adding the additional 14 nights and exclude the cash value of them to determine the overall cost per night over the life of the ownership.
@robynmartinez3846 10 ай бұрын
Hello, I am not sure this is the right way to ask you for help. I was a previous Vistana member, foolishly bought into Abound and now I am trying to get out of Abound. I sold my timeshare with Vistana this past summer. I received an email from Vistana that I will owe over 2K in maintenence fees for this next year (2024). I called Vistana who then gave me a number to a Exit Manager for Abound. I was told that I had to pay the 2K, fill out some paperwork and they would refund me the money. Not sure if that even makes sense. They then told me that if I didn't pay, collection agents (from their company) would basically hound me. I really did'nt care about their collection agency, but she told me that it would be turned over to a 3rd party collection agency, which of course would affect my credit. This is absolutely insane. I paid cash for this "priveledge", 20K to be exact. I do not owe anything in back fees, other than this new maintenance fee coming due in September. How is it that if I don't want to play with them anymore, I get penalized. If you have any answers, suggestions I would greatly appreciate it.
@DestinationTimeshare 10 ай бұрын
Please contact me directly through Messenger; m.me/destinationtimeshare I need to understand some more specifics about your situation which may not be ideal to share through KZfaq comments.
@seanpeters7909 11 ай бұрын
I guess you have to assume that the people who pay these big figures are the ones who financed the construction of the resorts.
@DestinationTimeshare 11 ай бұрын
Someone has to pay the bills. Thanks for watching!
@MichaelRistau Ай бұрын
Maintenance fees 79 cents per point now
@DestinationTimeshare Ай бұрын
Correct. The digital download that is included in the pinned comment was updated to reflect this. Unfortunately I can't update the video without producing a whole new one.
@jaimeclayton8596 9 ай бұрын
I seriously don't understand why anyone in their right mind would pay for this. I spend around the yearly maintenance fee TOTAL for a super nice vacay in cancun for a family of 4. That includes food, hotel, and airfare in a 2 bedroom condo in a beachfront resort. If you have 45k lying around then buy a beachfront condo and airbnb it. Then its an actual investment.
@DestinationTimeshare 9 ай бұрын
I would agree. Though I don’t know many places I could buy a beachfront condo for less than $50,000. At least not near the same quality as a Marriott Vacation Club resort. Renting instead of owning is always a great option. Thanks for watching.
@andrewf3505 4 ай бұрын
Now I’m filled with DREAD … I bought 1500 points… and financed… AND I live in Canada so I have to convert from CDN to USD. Every USD cost me $1.35 CDN
@DestinationTimeshare 4 ай бұрын
When did you purchase it? Was it less than 10 days ago? If so, you can still rescind/cancel. kzfaq.info/get/bejne/nbKIhayIrMebco0.html
@andrewf3505 4 ай бұрын
@@DestinationTimeshare it was well past that point. Almost 15 months now. we are in it now.
@daveydeadlegs7448 11 ай бұрын
7 nights for 3,000 points is premium/peak timing. I'm able to get ~17 nights for 3,000 points. If you're savvy with it, you can find lots of top properties for 175 points or less.
@DestinationTimeshare 11 ай бұрын
That is great that you can squeeze 17 nights out of 3,000 points. I wouldn't necessarily say that 7 nights with 3,000 is premium/peak pricing. It is kind of middle of the road or perhaps a little above average. For families traveling on school holidays, it might actually be about right or on the low end. If you want beachfront resorts, chance are you won't get seven nights most times of the year. If you are flexible and can travel in shoulder and off season, you can get a lot more nights but some (many?) they can't do it due to school or work schedule. If you can skip weekend stays, then you can also get more nights out of the same number of points. Though those shoulder season and weekday nights are also much cheaper on cash rates, so that will alter the overall comparison also. Thanks for watching!
@daveydeadlegs7448 11 ай бұрын
@@DestinationTimeshare all great points -- appreciate your insight and expertise!
@tha92106 11 ай бұрын
Enjoy your videos. Major mistake: you added in $6,5K vs $65k in your w/financing example. As someone might say "Huuuuge!". If you can not pay cash you shouldn't buy one IMHO. UPDATE: Apologies, I was counting the original principal twice.
@DestinationTimeshare 11 ай бұрын
Thanks for watching! I agree that if you can't pay cash you shouldn't buy. I actually make that very statement in the video at the 9:36 mark. With that, perhaps you could point out the mistake and at what timestamp? At 9:04 I indicate the total purchase with financing is $70,691. When I then add it together for the all in cost it comes to $170,744. I do see an onscreen typo at 9:04 where I transposed the hundreds and tens numbers in the Total Loan Cost. The text indicates $65,653 when it should be $65,563. I said it right but it was typed wrong so looks to just be a typo in the onscreen title as the onscreen total is still added up with the correct amount of $65,563. That is only a $90 difference though, much different than the near $60,000 difference you are referring to.
@DestinationTimeshare 11 ай бұрын
Saw your update. Thanks for letting me know. I know I watched the video like 7 times and ran through the numbers multiple times in addition to using the free digital download to verify. So other than that transposed set of numbers, and some rounding, I think it is as accurate as possible.
Destination Timeshare
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