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Just bought a timeshare, but now about to cancel..Need advice

Sackey

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My husband and I just bought a timeshare at Palm Beach Shores Resort and Vacation Villas during week 3 every year. We were also given two extra vacation weeks each year. After reading and joining this site, we are now going to cancel and buy resale. However, I don't see any offers with the extra weeks. Will we be able to purchase the extra weeks through RCI? We bought the timeshare in hopes of traveling during school breaks at least 3 times a year. We would like to purchase another one soon. Please advise. Should I choose another one in South Florida? Please advise. Thanks!
 

DeniseM

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WELCOME!

You can buy the rentals/getaways with any timeshare ownership that is affilaited with RCI (and also with other exchange companies.) The sales Rep. probably presented this in glowing terms, but in reality, RCI is renting these weeks cheaply as a way to get rid of excess unwanted inventory - most of the rentals are off-season dates, in areas with more supply than demand - not high season at the top rentals.

BUT FIRST, focus on rescinding and then when that's done, come back and complete this survey, to figure out what timeshare is best for you.

INFO ON RESCINDING: https://www.tugbbs.com/forums/index...-rescind-cancel-my-timeshare-purchase.189301/

NEWBIE SURVEY: https://www.tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/
 

taterhed

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Ditto on Denise's advice.

You have questions. You made a 'quick' and uninformed decision.
You should rescind now.......and then determine what is right for your vacation plans and needs.

ANY deal that was offered to you by the salesperson can be had again next week or next month.
BUT, you can only rescind your purchase within 10 days. This is a once-only opportunity--do not miss the opportunity to rescind now!

Make sure you follow the instructions posted above, specifically:
  • mail to address listed in contract for rescission (or cancel purchase)
  • mail via certified mail, return receipt requested
  • letter must reference contract number, must say cancel and/or rescind, must be signed by those who signed contract
  • don't fall for the sales person's attempts to 'sweeten the deal' to get you to avoid cancelling.....you need time to educate and review
Congrats!

Come back and learn some more---after the letter is sent!
 

TUGBrian

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congrats on finding TUG in time to rescind and save a fortune!
 

Sackey

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Thank you both for the quick responses! The cancelation will be mailed certified tomorrow. We just purchased it on Tuesday. I will complete the survey now. I am currently reading several threads to learn as much as I can about timeshares. When purchasing resale, approximately how long does it take to begin using it?
 

drtyedy

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My husband and I just bought a timeshare at Palm Beach Shores Resort and Vacation Villas during week 3 every year. We were also given two extra vacation weeks each year. After reading and joining this site, we are now going to cancel and buy resale. However, I don't see any offers with the extra weeks. Will we be able to purchase the extra weeks through RCI? We bought the timeshare in hopes of traveling during school breaks at least 3 times a year. We would like to purchase another one soon. Please advise. Should I choose another one in South Florida? Please advise. Thanks!


Sackey... my wife and I are in the same boat.. going through this process as well right now.. we purchased through Wyndham in Florida too.. I'm thankful it was in Florida because it sounds as some states only have 5 days.. anyways, I'd be happy to keep you posted on how our process is going if you'd like.. any word on your end would be welcome as well..

E&K.. northern michigan
 

taterhed

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Thank you both for the quick responses! The cancelation will be mailed certified tomorrow. We just purchased it on Tuesday. I will complete the survey now. I am currently reading several threads to learn as much as I can about timeshares. When purchasing resale, approximately how long does it take to begin using it?


It depends on the brand and specific sale...quite variable.

The important message here is simple, ready?

  • Study-up and figure out what is right for you. What you can afford and what you need.
  • Don't jump on something because you're in a hurry, it's a good value or you have the urge to spend after narrowly escaping a financial disaster!
  • Consider renting a property--a brand you might like at a location you might purchase/use--for this year or next and 'test out the waters....' Many good values can be rented on TUG or other trusted sites (Redweek etc...) for just a little more than annual maintenance fees...not always.

In summary, take your time, buy once and buy smart!

Cheers.
 

Sackey

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Sackey... my wife and I are in the same boat.. going through this process as well right now.. we purchased through Wyndham in Florida too.. I'm thankful it was in Florida because it sounds as some states only have 5 days.. anyways, I'd be happy to keep you posted on how our process is going if you'd like.. any word on your end would be welcome as well..

E&K.. northern michigan


That would be great to keep each other posted! I only went for the discounted tickets but forgot to give my husband the same memo. ‍♀️ He talked the price down greatly and wanted it so I gave in. I was so happy when I read the documents in further detail on our trip home and saw that we had 10 days to cancel.
 

Sackey

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It depends on the brand and specific sale...quite variable.

The important message here is simple, ready?

  • Study-up and figure out what is right for you. What you can afford and what you need.
  • Don't jump on something because you're in a hurry, it's a good value or you have the urge to spend after narrowly escaping a financial disaster!
  • Consider renting a property--a brand you might like at a location you might purchase/use--for this year or next and 'test out the waters....' Many good values can be rented on TUG or other trusted sites (Redweek etc...) for just a little more than annual maintenance fees...not always.

In summary, take your time, buy once and buy smart!

Cheers.


Thank you for the great bulleted notes! We will definitely look into the rentals. I have been reading timeshare information all day since yesterday.
 

Passepartout

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I'd recommend renting in different systems a few times before jumping in to purchase and be saddled with something difficult to get rid of and with fees that come due with maddening regularity and always go up. You'll also be a far better informed buyer. The bonus is that with rentals, there is no waiting period to use it.

Jim
 

Sackey

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I'd recommend renting in different systems a few times before jumping in to purchase and be saddled with something difficult to get rid of and with fees that come due with maddening regularity and always go up. You'll also be a far better informed buyer. The bonus is that with rentals, there is no waiting period to use it.

Jim

Thank you! We will definitely look into rentals.
 

artringwald

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After you rescind, they may call you. Whatever you do, don't talk to them. Hang up if you have to. They're going to try as hard as they can to talk to you rescinding your rescinding.
 

Sackey

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Hello everyone! We received a notice of our cancelation a few days ago and our deposit back today. We have also acquired a free Wyndham points timeshare that we are very excited about. Thank you for your help and advice!
 

WinniWoman

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Hello everyone! We received a notice of our cancelation a few days ago and our deposit back today. We have also acquired a free Wyndham points timeshare that we are very excited about. Thank you for your help and advice!


Congrats!!
 

taterhed

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Wow. Congrats on your rescission and finding TUG!

Hmm. Sounds like you jumped on a Wyndham contract.

Well, get busy on TUG and figure out how best to use your new vacation 'memory maker.'
Life is a journey: it's not the destination, it's the memories you make along the way that count.
 

Sackey

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Wow. Congrats on your rescission and finding TUG!

Hmm. Sounds like you jumped on a Wyndham contract.

Well, get busy on TUG and figure out how best to use your new vacation 'memory maker.'
Life is a journey: it's not the destination, it's the memories you make along the way that count.
Thanks. I have been on TUG every day since I found this site as well as many other sites and have joined groups. After all the research, we knew points was the best option for us. We are also renting a unit this summer. Thanks again.
 
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