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Policy change on trade-in with new purchase? from WDW owner update

Discussion in 'Vistana Signature Experiences (formerly Starwood)' started by magicjourney, Oct 29, 2018.

  1. magicjourney

    magicjourney Guest

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    Went to a WDW owner update yesterday.
    I was seriously considering to spend 10k-20k to buy 1 or 2 148,100 Westin Flex packages by unloading several week contracts, but was told the company changed the trade-in policy since October: trade in 1 contract, need to bring in 12k new money; 2 contracts, 20k new money; 3 contracts, 25k new money; 4+ contracts, 30k money. Basically, you can no longer trade in multiple contracts towards one purchase to bring the cost down. I tried to persuade them to bend the rule, but was unsuccessful. I guess the rule change makes upgrade/retro less attractive in the future. What do you think?
     
  2. controller1

    controller1 TUG Member

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    That's definitely a change.

    In July I traded in two contracts (Sheraton Flex) for Westin Flex and was told I needed to put in $17K of new money. I told them I was willing to go with $12K of new money based on what I had read on TUG. The salesperson immediately said he would need to talk to his manager. About ten minutes later the manager arrived and said "we'll go with that margin".
     
  3. Sandy VDH

    Sandy VDH TUG Review Crew: Elite TUG Member

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    I read WDW and thought Walt Disney World. Which Westin location is WDW?
     
    1Kflyerguy likes this.
  4. tschwa2

    tschwa2 Tug Review Crew: Rookie TUG Member

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    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    Westin Desert Willow- Palm Desert
     
  5. wtrjock

    wtrjock Guest

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    We went to the OU at WKORV, in Oct. The sales person told us they needed $38k cash in Hawaii for trade ins. We have $46k equity. They offered 196000 options at Nanea for $77k minus our $46k and would make an exception if we were willing to do it. Crazy money. At WKV, in March, they wanted $18k cash to trade in our weeks. It seems each resort will have a minimum cash required for trade in.
     
  6. iqmavin

    iqmavin TUG Member

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    We did update on 11/5 at Kierland. They offered Westin Flex to us for 23k new money. We traded in two contracts. WDW which we paid 12,900 for and got full credit. Also did WSTJ (196K options) which we paid 6k for via a tug resale.
    They said that our WDW wasn't worth much but they miracously got the approval in less than 5 minutes.

    They credited us 23k (80% of what prior buyer paid.) A lot of talk about maintenance fees going up at WSTJ due to hurricane damage and also lots of people bailing out of WSTJ for that reason.

    We ended up with 162k points (vs 250k) with new maintenance fee of $2900. Usual pitch with 180k rewards points. New Amex card 75k sign up plus 144000 6x rewards points and six certificates to buy 330k rewards points for 2275.

    Starting contract in 2021 so no maintenance fees yet(currently just under 5k). No options either.

    Swore I'd never buy another timeshare from developer. Think I might have lost it.

    Currently have 196k options in the bank.
     
  7. iqmavin

    iqmavin TUG Member

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    After 24 hours to think about it......we're cancelling it.:cheer::wave:
     
  8. rickandcindy23

    rickandcindy23 TUG Review Crew: Expert TUG Member

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    Wyndham Plat,RCI pts,Shell,WorldMark,OKW,SSR pts; Marriott's Willow Ridge;Val Chatelle; Hono Koa; SBP; Blue Ridge Village.
    I was told it would cost millions of dollars to convert my weeks, while we were at Westin Mission Hills. First, the woman tried to sell us on the credit card and the elite owner status. That made me almost laugh out loud. She also acted like she had no idea where Sheraton Broadway Plantation was. Never heard of it, she said.

    Salespeople would do much better by being honest, but I guess the product is so bad and expensive, they have to lie to make a buck selling it.
     
    Sugarcubesea likes this.
  9. iqmavin

    iqmavin TUG Member

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    We submitted the paperwork as required. Fortunately, Arizona has a 10 day period so we had plenty of time to get it done. Here’s something I got from Denise one of the most helpful people I’ve founder on tug:
    https://tugbbs.com/forums/index.php?threads/faq-rescinding-canceling-a-timeshare-purchase.74493/.

    If you follow this outline you can get out of most “reputable” companies without too much pain. Rest assured you will be called and they will offer you other options with less “new money” required. Our offer was to go down about $10K to 15k but less options etc. they did advise they just got a email from corporate that under no circumstances can they accept a silver week at Westin Desert Willow. (It’s part of flex they’re selling back to you). But if we came up with 15k new money we’d be in to flex. No pressure but still an effort to get some new money from us.

    The rep also explained that it would probably take about 10 days or so to reverse the “upgrade” and subsequent transfer back to our account. The current rate for new money on trade ins aka upgrades is one contract 15k, two contracts 30k.

    PS in addition to mailing in our letter we faxed it too. That number is 407 903-4718.

    The folks in customer service gave it to us. They also were able to tell us that the process was started. It’s impossible to talk to the folks in document administration department so customer service is your best bet.
    Just remember that an update is really a sales presentation. It says so in the docs you sign. So go in with your eyes wide open, BUT DO YOUR HOMEWORK FIRST. We didn’t this time and It cost us time on the back end.

    PPS they did give us our $100 in the form of a gift card, and not resort credits. That was nice. Spent it at an off site property same day.

    PPPS HAPPY BIRTHDAY TUG
     
    Last edited: Nov 13, 2018 at 6:58 PM

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