Is this a legit deal?

Before I start I'd like to let everyone know I've all ready created the rescission letter and will probably mail it soon unless someone has on here seems to thing this deal has more merit other developer deals. I thought i would get the take of some more experienced ppl before I decided what to do.

My wife and I just bought a points week with a resort in Vermont called cedarbrook. Basically we got 34000 RCI points biannually for 6800 and a MF of 499. The hook on the deal was that we where getting a prime vacation week (week 3 is considered Holiday weekend in Vermont skiing) and the ability to buy more RCI points at a discount from the resort. The resort would give use a "Charter" membership with several local usage perks and a guarantee that we could buy unlimited RCI points that would be good for the year we bought them at 1.5 cents a point.

Its this ability to buy points that sold it for us, I got home and started looking for more information on this and other then the documents I have there was almost no information on others being able to do this. I saw that any one can "rent" up to %50 of there overall points from RCI for 2 cents a point but that is all I found. I asked that resort about this and they were adamant that then deal was as stated and that i would never pay any more then 1.5 cents to add as many "this year only" points as I wanted. Has anyone ever heard of this before?

The second thing that cough my ear was the sales guys was convinced that RCI would give me priority on my points exchange because i was giving up a big week in exchange. This seemed odd to me because it implied that the point system somehow made my peak week points more imported then someone else none peak points??

So...is this a legit deal or am I running as fast as i can?

RUN AS FAST AS YOU CAN !!!!! In my opinion, you can do MUCH BETTER buying resale, and what the salesman told you "might" have some truth in it---most of it is "B.*." ( I don't use some language on this board !!!)

Start looking around; figure out "exactly" what you want; (be it points or "weeks"); try to get the "best deal/price you can; (maybe "ask" before you sign a contract); and you you'll be ok.

In other words---RESCIND !!! (NOT how you spelled it---LOL !!!)

Tony

marits of buying point

ha, yeah spell check can do funny things.

The main thing i want to know about is the buying of points, is this something any resort can do for me? or are they telling the truth that this is some deal they got because RCI needed more resorts in the area? I'm not sure about the whole points system because it seems so easy to change, i mean how are they really dealing with the valuation of there points if i don't need to exchange anything to get more points, i can just say this year i want to go someplace sweet, I'll drop $1500 and get 100,000 points to play with. Anyone ever done that or worked with a resort that dose this.

Maybe a better question for the points discussion board...

You are asking so many good questions. It would take a long time to answer them. Please RESCIND IMMEDIATELY. Then spend some time on the Points discussion Forum. There are much better deals out there, especially on Ebay.

Cedarbrook is a very mediocre resort. There have been many years when the skiing in January is not good in that area due to changing weather patterns.

Points are Points. Your 34,000 Points are not a large number. Many nicer resort weeks come with 60,000+ Points. You can generally rent points from another member any time you need them for a penny a point.

RESCIND immediately and take your time to learn more about the RCI Points program. Your salesman has given you a lot of false information. If for some reason you later decide that Points based at Cedarbrook are right for you (highly unlikely) trust me, that same deal will always be there. In fact, your sales person may well offer it to you at a much lower price after you rescind.

You must rescind in a very tight timeframe, so don't delay. Send your letter right away by U.S. postal mail, certified, return receivpt requested. DO NOT send it via UPS or FedEx. Return your contract and ALL the materials they gave you--books, certificates, etc...

I have been a TUG member since 1994. I found my way here in time to rescind my first purchase. I now own 19 weeks (fixed-deeded and floating) plus 2 Wyndham Fairfield Points packages, and 3 RCI Points packages so I speak from years of experience. You will learn all you need to know here at TUG to buy the right week or Points at the right price. Take your time. Good luck.

Agree. You are waaaayyyyy overpaying for this small number of points.
Buy somewhere else and definetely go resale. Points are points unless you want to go to Disney. Then don't buy Orlando points.

blndfld said:

The second thing that cough my ear was the sales guys was convinced that RCI would give me priority on my points exchange because i was giving up a big week in exchange. This seemed odd to me because it implied that the point system somehow made my peak week points more imported then someone else none peak points??

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Points are points. They are no different depending on the week you have. Run... they are lying.

Oh and the resort is depositing weeks with RCI that they have left in inventory and then they are selling you the points RCI is giving them.

Look around - you can do much better

blndfld said:

My wife and I just bought a points week with a resort in Vermont called cedarbrook. Basically we got 34000 RCI points biannually for 6800 and a MF of 499.

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In case the other posts are somehow unclear (I hope not) you are seriously overpaying for a commodity item - RCI Points. Within the RCI Poits system a point is a point - no matter where it is based. The only real differences are how much YOU paid to obtain it and how much it costs in annual fees to maintain it. Regardless of those numbers - high, low or location - the points "spend" exactly the same.

So my piddling little 27,500 RCI Points I bought in 2004 cost me $1,038 total and an average of $325/year since. That is not much less than the 34,000 you are buying (but hopefully will now rescind if you want a much better deal) at 1/6 of the cost and 1/3 less annual fee. Both big savings and you may be abale to find even better deals. You can always add more RCI Points through additional purchase - again at low rates or simply buy a deeply discounted, larger amount to start with. We supplement our annual points usin Points fro Deposit from our other resorts as yet another option. You can also lease points for the long term and avoid the need to eventually sell off a property when you are done with it. Many options but all are far below the cost of the "deal" you posted.

Rescind, shop around and save. You have the right idea - RCI Points is a great way to go for flexible timesharing - but that is not a good value in a Points based purchase.

There's an Ebay auction going on right now for 25,000 RCI Points ANNUALLY at Cedarbrook. The opening bid is a minimum of $1.00 and the seller will pay all the closing costs! There are no bids yet and there may be none at all by the end of the auction. Go to www.ebay.com and under the search feature near the top of the page, enter the words "Cedarbrook timeshare". That should bring you to the listing.

blndfld said:

My wife and I just bought a points week with a resort in Vermont called cedarbrook. Basically we got 34000 RCI points biannually for 6800 and a MF of 499. The hook on the deal was that we where getting a prime vacation week (week 3 is considered Holiday weekend in Vermont skiing) and the ability to buy more RCI points at a discount from the resort.

So...is this a legit deal or am I running as fast as i can?

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Run from it!

34000 biannual rci points for 6,800 is not cheap.
Wk 3 may be a holiday week but by no mean the highest demand. I have no problems finding exchanges for that week.

the timeshare sales men will promise everything the can to you to get you to buy. The reality is the salesmen know the resort they are selling and thats about it. They really have no idea whether or not RCI would give you priority points. Check with RCI first and confirm that that is true before you believe a salesman who has only been trained to know the resort he's selling not RCI or II.

davhu1 said:

Run from it!

34000 biannual rci points for 6,800 is not cheap.
Wk 3 may be a holiday week but by no mean the highest demand. I have no problems finding exchanges for that week.

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Very true... sounds like someone is about to get robbed blind.

Stop over paying!

Still waiting

I rescinded from the contract in time and was told by the sales person everything was all set. The contract stated that all monies would be refunded within 15 days. This time window is well past and i have not gotten any of my money back.

Any suggestions here? I contacted the sales office and was told someone would look into and get back to me...nothing yet. To frustrate matters the office is only open friday to monday so its very difficult to get hold of any one.

Don't let it slide

blndfld said:

I rescinded from the contract in time and was told by the sales person everything was all set. The contract stated that all monies would be refunded within 15 days. This time window is well past and i have not gotten any of my money back.

Any suggestions here? I contacted the sales office and was told someone would look into and get back to me...nothing yet. To frustrate matters the office is only open friday to monday so its very difficult to get hold of any one.

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What address/contact did the paperwork for the rescind go to? Those are the people to contact. If the dates have passed and nothing done you need to keep after them so it won't "fall through the cracks" as all too often seems to occur when return of money is involved. Keep at it! And keep up posted when you have success. You are doing the right thing as you know.

blndfld said:

I rescinded from the contract in time and was told by the sales person everything was all set. The contract stated that all monies would be refunded within 15 days. This time window is well past and i have not gotten any of my money back.

Any suggestions here? I contacted the sales office and was told someone would look into and get back to me...nothing yet. To frustrate matters the office is only open friday to monday so its very difficult to get hold of any one.

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If you used a credit card, did you also challenge it with them? You should...

I hope you're on your way BACK from the Post Office already...

voluntarily deleted --- I just noticed the "old" date of the OP post. My bad.

I agree. Rescind immediately and take the time to learn more about the points system. Don't ever believe anything a salesman tells you. They'll say just about anything to get you to sign on the dotted line and make the sale.