Newbie

jgscuba1 · May 9, 2011

I just purchased a timeshare at Waterside by Spinnaker in Hilton Head Island,SC and the exchange company is Interval International will I have any problems exchanging to different resorts?
Also they have getaway vacations will we have any problems booking them? Any help would be appreicated we are newbies?

DeniseM · May 9, 2011

Hi and welcome to TUG! :hi:

Did you buy this timeshare retail? (From the resort.)

Or on the resale market?

How long ago?

jgscuba1 · May 9, 2011

DeniseM said:
Hi and welcome to TUG!

Did you buy this timeshare retail? (From the resort.) From the resort

Or on the resale market?

How long ago?

today 5/9/11

DeniseM · May 9, 2011

You should absolutely rescind - you can buy the EXACT same timeshare on the resale market for pennies on the dollar. Here is one on ebay for $1 - http://cgi.ebay.com/WATERSIDE-SPINN...50814341386?pt=Timeshares&hash=item3a65b3210a

Please read this article about rescinding - I wrote it for another timeshare, but everything else applies to you - http://www.tugbbs.com/forums/showthread.php?t=74493

There is no doubt about it - you should rescind.

ampaholic · May 9, 2011

Recind - then buy resale (used)

There are only a few rules of thumb that (almost) always apply to timeshare purchasing IMHO:

1. Buy Resale - the money you save could send your first born to college
2. It is a LOT easier to buy a TS than to sell one, so choose ones you will be pretty sure to get use out of.
3. The right TS for you may be cheap or it may be expensive (who knows) - but the wrong TS for you will always be expensive.
4. TUG is a great place to learn the ins and outs and to learn how to get the most from your purchase.
5. Start modest - you can always add more later.

AwayWeGo · May 9, 2011

You Typed A Mouthful.

ampaholic said:
Recind - then buy resale (used)

You are correct, sir.

Nothing that the timeshare companies sell at full freight is worth the money -- never was, still isn't.

Not only that, there is no such thing as a new timeshare. By the time the owner shows up & checks in, other people will have been staying there previously, right in the new owner's very own unit.

All timeshares are used-used-used -- & it makes no sense whatever to pay new prices for items like timeshare units that flat-out are not new any way you shake it.

So, to the newbie -- Rescinda-sinda-sinda! Get out of it while you can.

Then, buy timeshares resale. Save thousands of dollars on exactly the same thing, or the equivalent, or something even better.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.

jgscuba1 · May 9, 2011

exchanges

DeniseM said:
You should absolutely rescind - you can buy the EXACT same timeshare on the resale market for pennies on the dollar. Here is one on ebay for $1 - http://cgi.ebay.com/WATERSIDE-SPINN...50814341386?pt=Timeshares&hash=item3a65b3210a

Please read this article about rescinding - I wrote it for another timeshare, but everything else applies to you - http://www.tugbbs.com/forums/showthread.php?t=74493

There is no doubt about it - you should rescind.

My initial question was would I have problems doing exchanges with interval international?

ampaholic · May 9, 2011

truth

When you call II to exchange that $1 timeshare Denise recommended - you will get the exact same level of customer service as someone who bought for 12,000 from the developer - and you will also get the exact same exchanges.

DeniseM · May 9, 2011

jgscuba1 said:
My initial question was would I have problems doing exchanges with interval international?

Trading a very complicated subject. There is not a simple answer to your question, because trading involves many factors. The exchange companies assign TRADING POWER to all timeshares and there are many things that determine the trading power of any particular timeshare:

-Season
-Size of unit
-Location
-Quality of the resort
-Supply vs demand
-Amenities

Do you want to go to Orlando in October? - no problem.
Do you want to go to a ski resort for Christmas? - forget about it.
Do you want to go to Arizona in August? - piece of cake.
Do you want to go to Paris for Easter? - forget about it.

However, the simple answer is that a $1 timeshare at this resort, and the one you bought, will trade EXACTLY the same in Interval International. So if you are looking for a trader, buy the one on ebay.

DeniseM · May 9, 2011

Here is the Travel Demand Index for Hilton Head - do you own a week during the highest demand season (weeks 22-31?) Those are the weeks that will have the highest trading power.

TUGBrian · May 9, 2011

jgscuba1 said:
My initial question was would I have problems doing exchanges with interval international?

your initial post also said "any help would be appreciated"

IMO at this point you are focusing on the wrong thing!

eal · May 10, 2011

Yes don't worry about exchanging right now, concentrate on getting your hard-earned money back!

jgscuba1 · May 10, 2011

eal said:
Yes don't worry about exchanging right now, concentrate on getting your hard-earned money back!

I will take your advice and get out of this deal. Thank you for all of your help. For me to learn everything I need to learn about timeshares where should I start?

ampaholic · May 10, 2011

go to this thread and just dig in (aka - start reading) you'll be an expert in no time and save several thousand dollars per article read :cheer:

http://www.tugbbs.com/forums/showthread.php?t=34377

And join TUG if you haven't already

aliikai2 · May 10, 2011

You are here

The 1st lesson is to buy resale, then buy where you want to use, trading is an art and a lot of work, and costs money. Joining II or RCI costs $90 per year, then $149-$199 per trade.
Then read all the stickies, starting here on this board, then all the others that may relate to your timeshare education.

Greg

jgscuba1 said:
I will take your advice and get out of this deal. Thank you for all of your help. For me to learn everything I need to learn about timeshares where should I start?

jgscuba1 · May 11, 2011

I have recinded my contract and feel much better. Thank you for your advice. I still have a question thatis bothering me. Its only me and my wife is there an advanatge to owning a timeshare and what is it?

aliikai2 · May 11, 2011

The advantages to us are

When we travel we stay in full size condos vs hotel rooms. We get kitchens, some have washers and dryers. When we go to the resorts we own we get Ocean Views, or upper floor suites. And we know in advance what the cost of our week(s) are going to be for this trip.

Can you travel for less? Yes, right now ownership is not as valuable as it has been or will be, with the downturn many resorts are renting suites for about what our annual fees run, during some of the soft seasons even less.

This timeshare thing isn't for everyone, it may prove not to be for you, but only you will know that after you read and learn all that is offered here on Tug.

fwiw,

Greg

jgscuba1 said:
I have recinded my contract and feel much better. Thank you for your advice. I still have a question thatis bothering me. Its only me and my wife is there an advanatge to owning a timeshare and what is it?

AwayWeGo · May 11, 2011

Hard To Be Satisfied With Hotels After Staying In Timeshare Condos.

jgscuba1 said:
Its only me and my wife is there an advanatge to owning a timeshare and what is it?

For The Chief Of Staff & me, the advantage is luxurious vacation accommodations at Motel 6 & Super 8 rates (approximately).

-- Alan Cole, McLean (Fairfax County), Virginia, USA.

ampaholic · May 11, 2011

sound advice (I hope)

Try renting a week at a resort you think you might like to own at. After the week is over look around and see what is available - join TUG - ask a lot of questions.

Step 1 - try TS'ing see if it is the "way" for you - or do you prefer RV'ing?

Step 2 - If you buy - shop carefully and buy resale (preowned NOT "new").

Step 3 - well really that's up to you.......

AwayWeGo · May 11, 2011

There Is No Such Thing As A New Timeshare.

ampaholic said:
If you buy - shop carefully and buy resale (preowned NOT "new").

You typed a mouthful.

Remember, all timeshares are used-used-used -- even newly deeded timeshares.

That's because by the time you show up & check in, other people will have already been staying previously right there in your unit.

They're all used, but the timeshare sellers (with straight faces) still try to get you to pay new retail prices.

Instead of laying out all that money for a newly deeded timeshare that's used, save thousands of dollars by buying exactly the same thing, or the equivalent, or something even better on the resale market.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.

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