Just bought a timeshare HELP!!

[TkT]

We are still in our window and after reading ALOT of threads on here (thank God I found ya'll) looks like we will be rescinding and buying resale and ofcourse joining TUG I have questions and would greatly appreciate some guidance

1. We put the down payment on a Wyndham credit card that we got that day and financed the rest through Wyndham so how should I word my request for "refund" when we technically haven't paid anything? (does this make sense)

2. I will write a letter stating we want to rescind, we want a full refund, we will be sending the fire tablet back, and not to contact us again ( will we get a confirmation email if we state this?) am I missing anything??

3. Can I get RCI extra vacations or last call vacations with the $100 annual fee?
Are there any start up cost?
what is the availability like?
Is there a limit to how many we can buy?

I feel like everything they said was a misrepresentation and I am now confused about how to proceed. We travel as much as possible (at least 4x a year) and have a good bit of flexibility for traveling somewhat last minute so I do think a timeshare would be great for us especially if we get the RCI benefits mentioned in the presentation

*we bought 105,000 CWA for 14,500 just fyi

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[vacationtime1]

Congrats for finding TUG in time; you saved over $14,000.

Yes, rescind. Absolutely. The rescission will unwind the credit card charge. You will probably want to cancel the credit card afterwards.

The good news is that the timeshare companies honor rescissions when done according to proper procedure (re-read the rescission instructions and follow them exactly).

 

[Passepartout]

Hi! Welcome to TUG! We're glad you found us in time to save yourself $14,500! (imo, 105,000 points won't fulfill your wishes.)

1) If you haven't made any charges to the card, there's no point asking for a refund. If you DID charge a down payment on it, you'll have to wait until the refund is posted before you cancel the card. I would call the card issuer and tell them to expect a challenge to the charge due to you rescinding.
2) It won't do any good to request no further contact. They have your number. Just don't answer until after the rescission period has passed. There is no obligation for them to send you a confirmation letter of your rescission.
3 if you are rescinding your RCI membership, you'll no longer be eligible for Last Calls. If you buy another TS and join RCI, you will be eligible. There will be an initial RCI charge to open an account. There is pretty fair availability if you aren't too fussy. Expect 2nd tier properties in off- and shoulder seasons. You won't find large, family size units in prime season in top tier properties in Last Calls. Ski resorts in 'mud season', beach resorts with 'parking lot views' in winter. That sort of thing, of course you can get lucky.

Yes. the salesweasels lie. We suggest you try different systems for a while. Rent timeshares. TUG's last Minute rentals, the Marketplace at the top of this page, Redweek are good places to look. Hang around TUG. Learn. Be an educated consumer, and when a great one shows up here, or on eBay you can feel more confident buying resale. There are lots and lots of them, but don't just jump on the first one you see. Even for free, there are some dogs that you just don't want to adopt. (back to those 'mud weeks')

Get your letter out. Follow the instructions in your contract- they're near the signature page. Then be patient. It can take up to 45 days to get a refund.

Jim

 

[TkT]

Thank you that was helpful! Yes, we knew the small point package would not fulfill our need but were told the "bonus weeks" for $219 were a "special" and you could get great trips with decent availability since Wyndham owned RCI. Our thought was one set in stone, plan ahead vacation (with points) and the others based on what's available.

We DID put the down payment on the Wyndham credit card. Would you still say "We request a full refund of our down payment, in the amount of $xxxx" like in the sample letter? I just want to get the wording correct.

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[Passepartout]

We DID put the down payment on the Wyndham credit card. Would you still say "We request a full refund of our down payment, in the amount of $xxxx" like in the sample letter? I just want to get the wording correct.

It wouldn't hurt anything, but is probably unnecessary. Include a COPY of the signature page of your contract for ID purposes and ALL signers of the contract MUST sign the rescission letter. No notarization is required. Today, being Friday, would be a good day to get it in the mail. We suggest USPS Certified.

 

[TUGBrian]

congrats!

that $14,000 you just saved is going to provide you some amazing vacations over the next few years!