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Does this sound like a good deal?

Discussion in 'New to Timesharing? Look Here!' started by docgambee, May 4, 2012.

  1. docgambee

    docgambee Guest

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    Aloha,

    My name is Dr. Seth Gambee. I live in Kona, Hawaii.

    My brother-in-law is one of the top timeshare agents in the Western States and works for Wyndham/Kona Hawaiian Village, a gorgeous resort here in town.

    I'm considering buying one (and then trying to use to to exchange on occasion for other locations since Hawaii is always in demand and it seems like I'd get great exchange value)

    Here's the package my bro-in-law put together for me-

    $16,000 package. Good for 1 week year.
    $0 down.

    10 year loan.
    $216 month.
    15.5% interest.

    annual maintenance- approx. $700.

    Seems to be about typical for the market.

    Any input is appreciated!

    Aloha,

    Seth
     
  2. Patri

    Patri Tug Review Crew: Rookie TUG Member

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    LOL
    Your brother-in-law must not like you very much.
     
  3. Luanne

    Luanne TUG Review Crew: Veteran TUG Member

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    Yeah, I was going to post that's a terrible deal.

    You could buy much cheaper on the resale market.

    If you're buying to trade, not use, Hawaii has some of the most expensive maintenance fees.
     
  4. e.bram

    e.bram Guest

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    If you have a conscience, you can't be a TS salesman.
     
  5. Kauai Kid

    Kauai Kid TUG Review Crew: Veteran TUG Member

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    Check ebay and find out what it is really worth.

    Sterling
     
  6. RX8

    RX8 TUG Member

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    Your brother-in-law may or not be making a nice commission on this sale, depends on the "floor" of developer pricing. However, as others posted, RESALE will save you thousands.

    The worst part of that deal, in my opinion, is not the price but rather the TEN years financing at 15.5% interest rate (financing $16,000, paying about $10,000 in finance charges)

    Do you want to pay $2500 per year before you even get to vacation? When you do vacation, you are paying another big sum in annual maintenance fees on top of that.
     
    Last edited: May 4, 2012
  7. Rent_Share

    Rent_Share Guest

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    Is anyone but me suspicious of the OP identifying himeself as "Doctor" almost sounds like a Nigerian email

    His "DC" credentials are meaningless in context to the question being asked
     
    Last edited: May 5, 2012
  8. theo

    theo TUG Review Crew: Veteran TUG Member

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    I dunno...

    The OP post seems to be considerably more literate and articulate than a customary, marginally coherent "Nigerian prince" / bank official / scammer submission...

    That being said, the "deal" allegedly offered to the OP is clearly no "deal" at all, so it's surely a moot point.
     
    Last edited: May 5, 2012
  9. jhac007

    jhac007 TUG Member

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    Ko Olina BC, Waioha BC, Crystal Shores, Kierland, Ocean Pointe, Eagle's Nest, Vistana BC, Villas at Doral, Mizner Place, Star Island
    .......and that's why he is allegedly one of the top sales agents! Doc, have you ever financed your cars at that %?

    Jim
     
  10. docgambee

    docgambee Guest

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    Thanks for feedback!

    hey everyone,

    Thanks for the feedback :)

    To clear something up- YES :) I am a Doctor. A Chiropractor.
    Although I admit that some people still don't think we're "real" doctors, LOL
    But it's all good.

    1st, yes, I was looking to trade it mostly as the resort is only about 10 minutes from my home, so not much of a "vacation". Being new to this TS stuff, I thought it might have good trade value/points, but that benefit is down-graded because of the high annual maintenance fees.

    2nd, I was a little suspicious about the interest rate, too,
    and when I did the math, I realized that it would be (as someone correctly pointed out) about $10K in interest payments. Ouch. It would probably be less if I put something down, but still...

    Anyways, we politely said "No, Thanks", and have found something that looks like a much better option.

    Thanks again for the feedback, I've been very pleasantly surprised at the amount of "know-how" in this forum.

    Have a good weekend everyone,

    Aloha,

    Seth
     
  11. docgambee

    docgambee Guest

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    Good points, LOL!
     
  12. e.bram

    e.bram Guest

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    Chiropractor! First cousin to a TS salesman.
     
  13. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    Buy somewhere you want to go, or in a system you see yourself using, but buy it on eBay and pay cash (some are $1.00).

    I just bought a Colorado summer timeshare a week ago for $1.00 including all closing costs, and I am still cheering. :cheer: I placed an ezsniper bid of $1,200 to make sure I would get it and won it for $1.00. :rofl: That's nuts.
     
  14. Magic1962

    Magic1962 TUG Member

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    Cindy how does that ezsniper bid work? You just bid way high knowing no one will ever hit it? Dave
     
  15. Egret1986

    Egret1986 TUG Review Crew: Expert TUG Member

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    No, don't put in any bid higher than you're comfortable with paying for the timeshare

    Put in the highest amount that you're willing to pay for said timeshare. Like Cindy, I have put in the highest that I am willing to pay and have been ecstatic when I'm the only bidder or have won for hundreds less than I the amount that I put in to esnipe. It's a great thing. You never pay more than you're willing to pay or get into a bidding war. You don't show your interest until the final seconds.
     
  16. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    Yes, that's what I do. I was absolutely willing to pay $1,200 with closing costs/ transfer fees included for this particular week, if it came down to it, but no one else wanted it. So it's mine for $1.00! I kind of knew I would get it for under $250.

    I lose a lot of auctions because I set my ezsniper.com bid too low. For example, I know what I can get a Sheraton Desert Oasis for, but I continue to underbid, in case I hit one cheap. I also underbid on WorldMark points. Really need a bargain on those to make it worth my while.
     
    Last edited: May 6, 2012
  17. Steve NH

    Steve NH TUG Member

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    RickandCindy..

    and you don't feel any guilt..

    not even a little..

    maybe for a split second.....



    ya you can tell I am just jealous.......
     
  18. Patri

    Patri Tug Review Crew: Rookie TUG Member

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    Totally disagree with this rude comment, which has no place on this thread. I respect you as a professional, Doc.
     
  19. Ridewithme38

    Ridewithme38 TUG Member

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    :shrug: I thought it was funny!
     
  20. ampaholic

    ampaholic TUG Member

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    Now you see why e.bram is on my ignore list. Rude and insensitive - Ride is just silly
     
  21. theo

    theo TUG Review Crew: Veteran TUG Member

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    Addition by subtraction....

    A great TUG user option is the ability to make invisible that which begs to be made (and remain) invisible. ;)
     
    Last edited: May 11, 2012
  22. RX8

    RX8 TUG Member

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    I do not believe the OP was being sincere with his question about the proposed timeshare purchase. For months he has been promoting a timeshare alternative on the Internet. He even has his own website.
     
  23. DeniseM

    DeniseM Moderator

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    I just deleted one of his posts which was clearly an Ad. He has Ads all over the internet.

    Here is a quote from one of them:

    "I'm a former Chiropractor turned entrepreneur/author and I love it."
     
    Last edited: May 15, 2012
  24. Rent_Share

    Rent_Share Guest

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    So my BS detector was working, just misplaced the point of origin
     
  25. robcrusoe

    robcrusoe Guest

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    anyone who has spent any time here or there, could easily see that the very first post was just an ad. That being said, there are some very good chiropractors out there who have given me much relief from pain. Do I believe docgambee is/was a good one ....... no
     

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