TUG MEMBERS: Joining TUG does not automatically register you as a user of the TUG Bulletin Board. You must register yourself.


*ads are disabled when logged in*
  1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.
  2. The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 24 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
    Dismiss Notice
  3. Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
    Dismiss Notice
  4. Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
    Dismiss Notice
  5. Note that the "About the rest of TUG" and "About TUGBBS" forums have been moved further down the list under the lounge area. just in case anyone was wondering where they disappeared to!
    Dismiss Notice
  6. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice
  7. TUG started 24 years ago this month in 1993 as a group of owners on prodigy! Check out our happy birthday post here: Happy Birthday TUG!
    Dismiss Notice
  8. The TUG forums have been upgraded this evening to now utilize https as a more secure way to connect and browse the site (Especially for those logged in). please let us know if you experience any issues or errors while on the site so we can correct them! it is our hope that this is a completely seamless change/upgrade! Forum upgrade thread
    Dismiss Notice

Am I crazy? Set me straight, please

Discussion in 'New to Timesharing? Look Here!' started by cyncyn1404, Oct 12, 2017.

  1. cyncyn1404

    cyncyn1404 Guest

    Joined:
    Oct 12, 2017
    Messages:
    2
    Likes Received:
    0
    Trophy Points:
    1
    Hi - Newbie here. I'm the type of person who researches things to death, but I rather impulsively bought a timeshare a few days ago while visiting the Westin Kierland Villas. I'm in the recision period, and everything I read suggests that I should cancel and start over. But I'm still thinking I want to go ahead. Could some of you experienced folks give me the counterarguments for my reasoning, which I'll list below? I'm sure I'm missing important points.

    First, the details: It looks like I have bought into Vistana Signature Experiences/Sheraton Flex program. My total cost is about $22K with annual maintenance of $1,067. I can pay for the purchase upfront from savings. With this, I get 67,100 points annually to use at a group of Villa resorts (main ones I intend to use will be in Scottsdale, Palm Springs and Hawaii). I'm a single mom and mostly plan to travel with my 13-year-old son or maybe a friend. The points are enough for at least a week in a one bedroom at peak seasons. I can book eight months in advance. I am also getting 250,000 SPG hotel points with lifetime gold status, and that's almost the most valuable part of the deal for me (free stays, additional free night for every 4 days stayed, guaranteed 4 p.m. checkout). In addition, I can buy next year a further 450,000 SPG points at 2.2 cents a point. There's also a membership in Interval International for cheap "getaway" weeks bought at short notice, but that's not factoring into my decision since I'm not sure how much use I'll make of it.

    The reasons that I would like to go ahead are:

    1)I've looked at the resale sites and nothing seems to match exactly the plan I have. I'd rather not be locked into specific weeks, and also the listings seem to be for older style programs that are more limiting on the resorts. I don't want to overpay, and I saw one resale listing for Westin Kierland with 81,000 points for around $5,000 with same maintenance fee, but the company did not respond to my email. So without more information, I can't tell if it gives me the same flexibility and value as what I bought. Are there resales of the program that I have bought into?

    2)The points for use in hotels are a big attraction for me since I like to travel internationally, and there are a lot of great hotels accessible with the points (Westin, St. Regis, boutique hotels). These would not be available with a resale. I figure the points that I get with my deal equal about 30 hotel nights in Europe or a domestic ski resort in peak season at an average cost of $400-$600 a night. So that's a value of $12,000-$18,000 or so to me. There are no blackout dates on these. If my math is correct, then the cost of the villa timeshare after the value of points is deducted isn't that far off from the resale cost. While I don't want to waste good money, I can also live with not getting the absolute lowest price for the timeshare ("overpaying" by $1-$2K, though not more than that.)

    My rational brain is telling me that I've probably been suckered, and I have a chance still to save myself. Can somebody please tell me what I've overlooked? Thank you in advance for any insights.
     
  2. DeniseM

    DeniseM Moderator

    Joined:
    Jun 6, 2005
    Messages:
    50,521
    Likes Received:
    783
    Trophy Points:
    113
    Welcome to TUG!

    First of all, be aware that sales people LIE and will say whatever it takes to get you to buy, so you have been mislead on many points.

    The reason you should rescind is that you can buy the same thing on the resale market for a fraction of the cost.

    FlexOptions are not a good value - too expensive and they have no resale value, because when you sell it, the new owner does not get flexoptions/staroptions. So as soon as you signed the contract and walked out the door, it was worth pennies on the dollar.

    67,100 Flexoptions is not very many and will restrict you to studios at most resorts.

    They mislead you on the value of the StarPoints - once you use up the initial points, the yearly Starpoints are nearly nothing and you won't be going to ski resorts in Europe. You will only have enough for a few nights at inexpensive properties.

    Let me clarify - you can buy a resale at Westin Kierland Villas AND get Staroptions that you can use at ALL of the Vistana resorts, for a fraction of what you paid.

    For $22k you can buy a Plat (high season) 2 bedroom lockoff at WKV, and get 148,100 Staroptions, and it will hold its resale value.

    YOU SHOULD ABSOLUTELY RESCIND - if you decide later that you want to buy it after all, they will be happy to sell it to you again - next week, next month next year.

    But, if you don't rescind NOW you will never get another chance to do so - YOU WILL BE STUCK with a low value timeshare with limited use, with no resale value.

    I guarantee, that after you learn more about this, you will be happy that you rescinded.
     
    Last edited: Oct 13, 2017 at 2:15 AM
    BagsArePacked and mpumilia like this.
  3. VacationForever

    VacationForever TUG Member

    Joined:
    Dec 5, 2010
    Messages:
    4,460
    Likes Received:
    414
    Trophy Points:
    83
    Location:
    Somewhere Out There
    Here are several issues with the Sheraton Flex points that you just bought and you should rescind:

    - It is voluntary, meaning there is no resale value when you want to sell it some day. It does not retain value. Resale buyer loses the ability use Star Options to book at 8 months. You have overpaid by 15K to 18K, after taking account the freebies that they threw in.

    - The resorts that you really want to stay at can only be booked at 8 months out (Star Option reservation). At least if you buy WKV from the resale market you can book at 12 months out at WKV.

    - You paid too much and get too few points. Compare this purchase with buying from the resale market. 2 good options in the resale market:
    1) Buy a 2BR Platinum Westin Kierland for between 12.5K to 16K and it gives 148K Star Options per year. Several places that you can find - TheTimeshareking.com (I recall several TUGgers reported getting a really good price from the broker Russell), redweek.com, here on TUG. If you are happy with 81K or 67K Star Options, you can buy a 1BR Platinum season Deluxe/Premium for about 5K to 7K, MF about $800.
    2) Buy SVV - Bella and Key West phase. Cheap to buy 1-2K for a platinum/red seaon 2BR or 2BR Lockoff, you get 81K to 95.7K Star Options.

    It is alot of information but you should rescind first before deciding what to buy.
     
    Last edited: Oct 12, 2017
    mpumilia likes this.
  4. cyncyn1404

    cyncyn1404 Guest

    Joined:
    Oct 12, 2017
    Messages:
    2
    Likes Received:
    0
    Trophy Points:
    1
    Thank you both - This is the wake-up call I need.
     
  5. ACE1

    ACE1 TUG Member

    Joined:
    May 30, 2008
    Messages:
    147
    Likes Received:
    6
    Trophy Points:
    18
    Location:
    Prescott, Arizona
    Listen to Denise! She knows what she's talking about. She actually helped me rescind my 1st WKV purchase and buy on eBay! We love our resale, have had it about 6 years and trade for Hawaii or any place else. We don't need hotel points but love those option points!

    Sent from my SM-N920V using Tapatalk
     
    mpumilia likes this.
  6. Egret1986

    Egret1986 TUG Review Crew: Expert TUG Member

    Joined:
    Jun 7, 2005
    Messages:
    3,493
    Likes Received:
    79
    Trophy Points:
    48
    Location:
    Coastal Southeast Virginia
    Thank goodness that you came to TUG and listened to the great advice from those that know the "real" deal! :clap:
     
    DavidnRobin likes this.
  7. DavidnRobin

    DavidnRobin TUG Member

    Joined:
    Dec 20, 2005
    Messages:
    9,412
    Likes Received:
    198
    Trophy Points:
    63
    Location:
    San Francisco Bay Area
    Resorts Owned:
    WKORV OFD (Maui)
    WPORV (Kauai)
    WSJ-VGV (St. John)
    WKV (Scottsdale)
    You bought into Flex w/o researching first - you could have stopped there...

    - Rescind
    - Research
    - Resale



    Sent from my iPhone using Tapatalk
     
    CalGalTraveler likes this.
  8. Bunk

    Bunk TUG Member

    Joined:
    Jan 28, 2010
    Messages:
    285
    Likes Received:
    38
    Trophy Points:
    28
    Location:
    New York
    How can Vistana offer lifetime gold status for SPG, when SPG is owned by Marriott
     
  9. LannyPC

    LannyPC TUG Member

    Joined:
    Jul 5, 2010
    Messages:
    2,006
    Likes Received:
    123
    Trophy Points:
    63
    Location:
    British Columbia
    Well, you are not the first. And unfortunately, nor will you be the last. It just shows how "effective" these TS presentations are how they can persuade people to plop down, on the spot, money they don't have, for something they know very little or nothing about, for something they really don't need. :ponder:
     
    Iggyearl likes this.
  10. vacationtime1

    vacationtime1 TUG Member

    Joined:
    Sep 7, 2006
    Messages:
    2,492
    Likes Received:
    160
    Trophy Points:
    63
    Location:
    San Francisco
    Resorts Owned:
    MAW & MKW (Kauai)
    WKORV-OF (Maui)
    WKV x3 (Scottsdale)
    Kierland can be a great deal -- if bought resale.

    Buy only platinum season.

    But take David's advice on the 3 R's -- rescind, research, resale.

    And take your time; prices are not going up.
     
  11. VacationForever

    VacationForever TUG Member

    Joined:
    Dec 5, 2010
    Messages:
    4,460
    Likes Received:
    414
    Trophy Points:
    83
    Location:
    Somewhere Out There
    Written into their contracts for the split off.

    Ways to obtain SPG gold:
    - SPG and Marriott have reciprocity in their hotel elite status. 2 ways to obtain SPG/Marriott Gold:
    - Open up American Express SPG card and put $30K spending on it per year.
    - Open up Marriott Visa and use it to accumulate points - $3K spending gives 1 night, card comes with 15 bonus nights, stay at Marriott timeshare/hotels, accumulate 50 nights a year.
    - Stay enough nights in Starwood or Marriott hotels/timeshare to achieve Gold Status
    - Enroll legacy Marriott weeks (if you own those weeks) or buy points (expensive) and with enough points to obtain Gold / Platinum status
    - Some have reported buying Vistana mandatory weeks got them SPG Gold, but it has been inconsistent.
     
  12. LannyPC

    LannyPC TUG Member

    Joined:
    Jul 5, 2010
    Messages:
    2,006
    Likes Received:
    123
    Trophy Points:
    63
    Location:
    British Columbia
    ...despite what the timeshare sales people tell you.
     
  13. VegasBella

    VegasBella TUG Member

    Joined:
    Mar 7, 2013
    Messages:
    2,436
    Likes Received:
    173
    Trophy Points:
    63
    Location:
    Vegas
    Resorts Owned:
    Carlsbad Inn
    Avenue Plaza
    Riviera Beach & Spa
    Is your son's college fund fully funded? If not then the money is likely better used for that.


    Sent from my iPhone using Tapatalk
     

Share This Page