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 as a member*
  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. TUG started 25 years ago this month in 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
    Dismiss Notice
  4. TUG has now saved timeshare owners more than $10,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $10Million dollars
    Dismiss Notice
  5. 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
  6. TUG is trying out a new program that will trade you a TUG membership for a Timeshare resort review if you are an expired member, or even just a guest here on the forums!

    Read more here
    Dismiss Notice
  7. Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
    Dismiss Notice
  8. 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
  9. A few of the most common links here on the forums for newbies and guests!
    Dismiss Notice

Newbie Diamond Resorts Buyers-HELP please

Discussion in 'New to Timesharing? Look Here!' started by greeneyes07, Jun 7, 2011.

  1. greeneyes07

    greeneyes07 Guest

    Joined:
    Jun 7, 2011
    Messages:
    12
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mesa, AZ
    Hello All!

    We are Newbies to time shares and just spontaneously bought a timeshare in Diamond Resorts/TheClub point exchange system in Sedona on vacation. We are in our 7 days recission period and doing our dillegence to make sure its right for us. Anyone who kindly has time to consider our terms and life style is very helpful:eek: .

    First of all, we talked them down to 2500 pts instead of 4000 so that it would be affordable, but of course the maintence fees are higher(about $895/ year) with this time share.

    A few facts about us- we have 4 kids and cannot book a standard room anymore and having a condo w/ kitchen is a $saver. We live in Mesa AZ and can drive to many wonderful resorts listed in AZ, CA, etc.and love Sedona, we are often flexible in our travel plans,we like short getaways and go somewhere every year and we have relatives who come visit and would like the lower cost Scottsdale resort fees to purchase.

    But now that I am home and trying desperately to understand all the info they gave us in the 7 days we have to legally get out, I am still unsure...

    Since we are only in the 2500 pt range is the maintenence fee we are paying even worth it? Now that I look closely we can only afford to go someplace yearly if we book under 60 days at the %50 discount. Will all the Sedona resorts be full under 60 or 30 days? What about CA? And also, we were told we could rent outright a week anywhere 2 bd for $300-800 per week,esp. for family, but I cannot find this listed anywhere. Is this true? the rates I see in Scottsdale start at $200 per day for a 1 bd!!

    Also, I know we can borrow points, but can we buy some extra for that year to have more pts for just that year? That is the only way we could afford to book a 2 bd vaca in advance before the 60 day mark. Or can we only permanently raise or yearly pts.??

    Also, when we die is our time share a deeded gift to our heirs or are they financially obligated to pay the yearly fee regardless of choice? I hope not!!

    Many many thanks to anyone who takes the time to read this and help us understand the Diamond Resorts System. We like the quality and locations, but is 2500 pts going to do anything for us:doh: ??
     
  2. aliikai2

    aliikai2 TUG Review Crew: Veteran TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    2,121
    Likes Received:
    2
    Trophy Points:
    248
    Location:
    Yuma Arizona
    Rescind Now

    RESCIND NOW

    There is no way the price you paid is worth it. You can buy Diamond points on Ebay for next to nothing.

    Cancel, rescind now and spend the next few months learning what will work for you and then and only then buy resale.

    Greg
     
  3. greeneyes07

    greeneyes07 Guest

    Joined:
    Jun 7, 2011
    Messages:
    12
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mesa, AZ
    No beating around the bush, eh??

    Thank you for your input!
     
  4. T_R_Oglodyte

    T_R_Oglodyte TUG Lifetime Member

    Joined:
    Jun 6, 2005
    Messages:
    10,731
    Likes Received:
    431
    Trophy Points:
    518
    Location:
    Belly-View, WA

    Rescind now!!!!!!!!!!!!


    There are many reasons to do so, and I'm sure that others will add so much info that your head will be swimming. But the single overriding reason is what you said - you are trying to understand.

    Once you let that rescission period pass, you are locked in. That is a door that shuts and can't be reopened.

    But if you rescind, you can collect more information until you are satisfied. If you then decide this is what you want (and I'm sure that you will realize that what you have is a bad deal), you can always go back and get the same deal all over again.

    By rescinding you keep both your money and your options. By not rescinding both your money and your options gone. Don't let all of the other information mask that point - rescind so that you can give yourself time and options.
     
  5. greeneyes07

    greeneyes07 Guest

    Joined:
    Jun 7, 2011
    Messages:
    12
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mesa, AZ
    I would like to add that my husband has wanted a timeshare for years, and is very happy that we now have one.
    If we can go somewhere nice yearly and pay it off in 10 years and continue to travel he will be happier. He generally understands how they work. I'm just making sure we can actually do stuff on the pts we bought at.
     
  6. aliikai2

    aliikai2 TUG Review Crew: Veteran TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    2,121
    Likes Received:
    2
    Trophy Points:
    248
    Location:
    Yuma Arizona
    Here is a 3000 annual point ownership that didn't sell for $1

    http://cgi.ebay.com/3-000-POINTS-DI...50821223899?pt=Timeshares&hash=item3a661c25db

    Like Steve said, right now you have your money and are in control, once the 7 days passes, they have your money and they are in control. 2500 annual points is an awful tiny ownership that costs you all of the overhead up front, then the annual fees are added making this very expensive to get a nice 2 bedroom unit for the family.

    There are many systems, in the west Worldmark is very good, Wyndham is also pretty good.

    You really need to take a few months and learn what is available and then buy a resale ownership for pennies on the $1 vs retail

    Greg

     
  7. aliikai2

    aliikai2 TUG Review Crew: Veteran TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    2,121
    Likes Received:
    2
    Trophy Points:
    248
    Location:
    Yuma Arizona
    I realize you are still basking in the glow of the Timeshare Weasles bs

    The upfront cost is what we call lost money, please look at what you just posted. Pay it off over a 10 year period???
    Every penny that you give Diamond for the purchase is just gone. The value of a timeshare is it's use, and you are going to pay $900 +- per year for the use, on top of the $$$$$ in the retail overpriced purchase.

    Most of us bought our 1st timeshare retail, we have learned that resale is so much less expensive, that we try to help those like yourselves, but alas only you can cancel your deal.

    fwiw,

    Greg

     
  8. greeneyes07

    greeneyes07 Guest

    Joined:
    Jun 7, 2011
    Messages:
    12
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mesa, AZ
    Thanks so much, I will show your posts to my husband tonight and we can decide. We bought on Monday so we still can look it over.

    We really like Los Abrigados and would be happy to go there, but I am looking on this forum and seeing that LOTS of people like it there too, so we may not be able to book under 60 or 30 days.
     
  9. T_R_Oglodyte

    T_R_Oglodyte TUG Lifetime Member

    Joined:
    Jun 6, 2005
    Messages:
    10,731
    Likes Received:
    431
    Trophy Points:
    518
    Location:
    Belly-View, WA
    You shouldn't even be considering paying it off in 10 years. It's such a buyers market right now that you can get quality ownerships for under $1000; there are quite a few that you can pick up for free.
     
  10. ampaholic

    ampaholic TUG Member

    Joined:
    Aug 25, 2010
    Messages:
    2,305
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    Spokane
    I studied for a couple of months and then bought (i hope) wisely. I have already had one essentially free vacation and am going to get at least three more freeeeee vacations before MF's come due - all because I bought RESALE not RETAIL.

    I also love that I have zero payments ever - just the Maintenance Fees (which I consider bad enough).

    Please rescind - the money you save could put your first born through college!:eek:
     
  11. aliikai2

    aliikai2 TUG Review Crew: Veteran TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    2,121
    Likes Received:
    2
    Trophy Points:
    248
    Location:
    Yuma Arizona
    Here is a link to the DRI primer here on TUG

    http://www.tugbbs.com/forums/showthread.php?t=64609

    Looking over this it appears that 6500 to 7500 is what is needed for a 2 bedroom during travel season. That means that it will take you over 2 years x$839= $1680 for one week in a 2 bedroom plus the 10 years of payments.

    Greg

     
  12. ampaholic

    ampaholic TUG Member

    Joined:
    Aug 25, 2010
    Messages:
    2,305
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    Spokane


    ahhhh, ditto - absolutely - you could buy any of over 500 $1 eBay timeshares and get better trades through Platinum Interchange than this package offers you.

    PI has lots of inventory in Sedona, Scottsdale and California.

    Go to PI and see for yourself: https://www.platinuminterchange.com/website/exchanges.asp

    You will need to create a free account
     
    Last edited: Jun 7, 2011
  13. AwayWeGo

    AwayWeGo TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    14,158
    Likes Received:
    281
    Trophy Points:
    418
    Location:
    McLean (Fairfax County), Virginia, USA.
    Resorts Owned:
    Grandview At Las Vegas

    [triennial - points]
    Rescinda-Sinda-Sinda.

    No need for any unsureness.

    You can be sure of this --

    Nothing that the timeshare companies sell at full freight is worth the money.

    And that goes for DRI points & membership in T. H. E. Club, right along with all the rest.

    Get out of it while you can.

    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. ​
     
  14. chewie

    chewie TUG Member

    Joined:
    Oct 26, 2010
    Messages:
    83
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Flower Mound, TX
    Thinking....

    I wonder if anyone out there has been on vacation, went to the timeshare sales 'update/meeting/etc,' laid down serious bills on their new investment and then came home and found TUG and rescinded. This happens at least once a week.

    However ...

    I wonder if anyone has named their next-born child TUG because of the 10's of thousands of dollars they saved by coming home and finding this forum.?.?

    My wife and I were down in Mexico at the Occidental Grand AI in Cozumel a couple of Thanksgivings ago and was out snorkeling a spot where a big barracuda took home at, just inside the roped off area at the resort. The TS urchins had been all over us (and everyone else at the resort) for the whole week. After being joined on the snorkel spot by a nice man and his daughter, we commented how great life was to be in the warm clear waters of the Caribbean while it was so cold back up north. The nice man made an admission that he had just bought a good timeshare package that day, and would be coming back often. I asked if he had ever heard of TUG and he said no. I told him to swim immediately to shore and get on the computer and find out just exactly what he was buying. He left shortly afterwards.

    A couple of days later while eating breakfast, he runs over to me and profusely thanks me for giving him this site. He was able to rescind there on the spot, and stated that he had a lot of learning to do before buying any timeshares. At the time I didn't own any timeshares, but a buddy at my job did and he always read these boards while at work.

    If that guy is anywhere out there and a member of these boards, shoot me a PM.
     
  15. Karen G

    Karen G Moderator

    Joined:
    Aug 17, 2004
    Messages:
    8,462
    Likes Received:
    364
    Trophy Points:
    668
    Location:
    Henderson, NV
    Resorts Owned:
    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    Does this mean you are financing this purchase? If so, that's another reason to rescind NOW while you have this one chance. It's a bad idea to buy a timeshare that you are making payments on. If you are unable to pay cash for a timeshare, you shouldn't be buying one.

    There are so many timeshares being offered for free today with the seller paying the closing costs and often throwing in this year's usage for free as well. Timeshares are very easy to buy, but very, very hard to sell if you need to get out from under those annual maintenance fees that you are obligated to pay from now on. You will have zero chance of ever selling your timeshare if you are financing it.

    Please, take the advice you've been given here. Then spend some time reading everything you can on this website. TUG is definitely the place to come to learn all about timesharing--and lots of other cool stuff.
     
  16. AwayWeGo

    AwayWeGo TUG Review Crew: Expert TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    14,158
    Likes Received:
    281
    Trophy Points:
    418
    Location:
    McLean (Fairfax County), Virginia, USA.
    Resorts Owned:
    Grandview At Las Vegas

    [triennial - points]
    Trent Upton Greenwood Smith.

    T. U. G. Smith would be an extremely dignified name, no ?

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

    chewie TUG Member

    Joined:
    Oct 26, 2010
    Messages:
    83
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Flower Mound, TX
    TUG McGraw ... Don't think the timeshare concept came out of the witch's brew until after his birth. But, worth the try.
     
  18. Karen G

    Karen G Moderator

    Joined:
    Aug 17, 2004
    Messages:
    8,462
    Likes Received:
    364
    Trophy Points:
    668
    Location:
    Henderson, NV
    Resorts Owned:
    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    I thought maybe that was a real person so I Googled it. The first item listed was this thread on TUG.
     
  19. chewie

    chewie TUG Member

    Joined:
    Oct 26, 2010
    Messages:
    83
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Flower Mound, TX
  20. greeneyes07

    greeneyes07 Guest

    Joined:
    Jun 7, 2011
    Messages:
    12
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mesa, AZ
    So do you have the exact same privledges if you buy a time share resale??

    Is there any difference?
     
  21. Karen G

    Karen G Moderator

    Joined:
    Aug 17, 2004
    Messages:
    8,462
    Likes Received:
    364
    Trophy Points:
    668
    Location:
    Henderson, NV
    Resorts Owned:
    Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
    If your heirs accept the timeshare, they are obligated to pay the annual maintenance fees.

    There's no difference in usage of a timeshare, whether by an owner who bought from the developer or an owner who bought resale.
     
  22. eal

    eal TUG Review Crew: ELITE TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    1,912
    Likes Received:
    0
    Trophy Points:
    36
    Location:
    Nanoose Bay Canada
    Yes you generally have the exact same privileges, or you may not be able to use "privileges" that are not worth the thousands of dollars you will pay for them. It doesn't matter - rescind now and do some research. In today's market you can find a spacious timeshare unit for literally next to nothing. Take your time!
     
  23. greeneyes07

    greeneyes07 Guest

    Joined:
    Jun 7, 2011
    Messages:
    12
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Mesa, AZ
    Thanks Karen, that makes sense. In terms of heirs.

    It looks like if we buy privately, we will have a membership fee, which was waived and of course the free 7 day vaca of our choice, which we have to wait for.

    I think Diamond will work for us best, not a weekly timeshare of traditional structure. The question is keep our financing or recind and buy outright. Yes we financed. We can afford the program, question is value paid. Anyone here familiar w/ Diamond's availability?? Esp Sedona in Summer??
     
  24. T_R_Oglodyte

    T_R_Oglodyte TUG Lifetime Member

    Joined:
    Jun 6, 2005
    Messages:
    10,731
    Likes Received:
    431
    Trophy Points:
    518
    Location:
    Belly-View, WA
    I strongly urge you to rescind.

    First, don't immediately assume that Diamond is the best system for you until you have had a chance to investigate alternatives.

    Second, even if you decide Diamond is best for you, you need to decide how many points you would like to own, whether you want to have a deed at a specific resort or own in a trust. If you decide to own in a trust you need to decide which trust to own. You need to decide whether you can accommodate your needs within one of the Trusts (in which case there is no reason to buy a Club membership), or if you want to get into the Club If you do decide you then need to decide what is the most advantageous strategy to get into the Club.

    Of course you can't answer all of those questions in the time that you have remaining to rescind. So your wisest option is to rescind to give yourself time to investigate. We're talking about saving you on the order of $10,000 to $20,000 (or more), so I think it's worth slowing down.

    Don't worry about losing some offer that is supposedly only available if you buy this offer. The offer you have in hand now can be resurrected if that is what you want. Or, if not, there will be some comparable offer that is available to you. That's part of the sales game that they play - there is always some offer that is available to you only if you buy at that moment - they need to have that to get people to make the final buying decision.
     
  25. eal

    eal TUG Review Crew: ELITE TUG Member

    Joined:
    Jun 6, 2005
    Messages:
    1,912
    Likes Received:
    0
    Trophy Points:
    36
    Location:
    Nanoose Bay Canada
    There are any number of timeshare systems outside of the traditional week idea. And there are a great number of nice timeshares in Sedona. You owe it to yourselves to research the concept of timesharing before going into debt with a developer-priced system.
     

Share This Page