RESCIND???? WM developer contract purchased 7/13/19

[fabro001]

Hi All!

Thanks for all of the great information on this forum. My husband and I sat in on a WM Anaheim pitch yesterday...and went home with a 5,000 credit contract. We spent 7 hours with the team going back and forth on what the benefit would be for a direct contract over resale. My husband and I even went through the TUG threads on this forum when we were at the sales pitch as part of our due diligence. We still have lingering questions about whether or not to rescind.

We ended up purchasing a developer contract for the reasons stated below:

1. Bonus Time. The sales team stated multiple times that Bonus Time is a developer incentive. Contracts purchased on the resale market are NOT eligible for Bonus Time. I even got the sales team to confirm this on video while we were signing the final paperwork.

My question to the forum is: please confirm if Bonus Time something that CAN NOT be transferred on a resale contract?

A follow up question is: is Bonus Time worth paying the developer price?

2. Discounted rates off of the Best Available Rate (BAR) for Wyndham hotels. we were pitched that as WM club members who buy DIRECT, we would have access for hotel rates that are discounted off of the BAR rates for any hotel in the Wyndham portfolio. This is appealing to us because we are planning a trip to Europe (tentative destinations: Denmark, Sweden, Berlin, Prague) and would like to use a combination of timeshare bookings via RCI, and hotel stays using the discounted BAR Rate.

Questions: The sales team said that WM club members who purchase direct can only receive this incentive. Those with a regular Wyndham Rewards account won't receive the discounted BAR rates nor WM club members who purchase resale could benefit from booking with the discounted BAR rate. How accurate is this statement? If I purchase a WM resale contract, will I be eligible for the Wyndham Hotel discounted BAR rate?

3. RCI. We were told Wyndham owns RCI. Because of this, WM club members have "first pick" of RCIs inventory. We opted to not sign up for the RCI membership but were told that we could always sign up later for $99/year

Question: If we purchase a Resale WM contract, would we be able to have access to the same RCI "first pick" inventory that a direct contract would have?

Caveat:
We already own DVC and HGVC (both purchased on the resale market). We already have plenty of options to vacation to destinations that appeal to us.

We bought into WM because we liked WMs vast inventory, ability to have RCIs "first pick" inventory, the Bonus Time, and discounted BAR rates. If can capture all of these perks on the resale market, then I'd like to rescind. The sales team made it seem like these "incentives" were only through the developer. I need the expertise of my fellow TUGGERS for more insight.

Thanks in advance!!!

 

[rickandcindy23]

I actually DO get the option for bonus time, and I bought resale. Hotels are not a great deal, IMO, and I do have that "benefit" through my Club Wyndham ownership. You need to rescind.

No benefit of WM is worth the price they are asking. Not really true about first pick. I just have to state that emphatically. There are so many Wyndham owners and WorldMark owners and Welk owners and RCI Platinum (anyone can get that) who are all promised "first pick." Don't believe it. Get out while you can.

The thing with timeshare salespeople is they cannot provide any documentation of any of these claims. Run for the hills!

I personally love WM and paid a bargain price for our 46,000 points.

 

[Passepartout]

Sounds like sales weasel fibbery to me. Although I don't own WM. I have never heard of any actual discount on hotel prices from owning a TS. It doesn't work that way with Marriott or Hilton, why Wyndham?

I know of no 'priority RCI' choices due to Wyndham ownership, and why would it matter if the ownership is resale or developer? To my knowledge, the ONLY thing exclusive to retail buyers is VIP status and it IS NOT worth the price premium.I

The thing is that there is NO WAY to prove the veracity of the sales weasels promises, except if they were accurate, hundreds of TUGgers would be touting them as benefits, and they aren't.

I think you should rescind and if you want the ownership, but resale.

My customary $.02 worth.

Jim

 

[JohnPaul]

You can get the hotel discount without developer purchases. Note that most of the Wyndham brands are lower end like Super 8. OK for a one night stopover but you shouldn't have high expectations. All you really need is the discount code. Some of the actual Wyndham are quite nice.

Also, you absolutely get Bonus Time with resale purchases.

 

[DaveNV]

You need to Rescind NOW, while you still can.

I own WM. I bought resale. I get Bonus Time. There is no such thing as "first pick" among RCI exchanges for WM owners. Anybody with a timeshare can join RCI for $99 a year. They lied to you. There is nothing they sold you that you can't get for pennies on the dollar. If you do your research and decide spending much more than necessary is a better way to go, you can always buy it again. Rescind.

5000 credits might get you a Studio for several nights within shorter time frames (like less than 10 months before check in, when minimum nights aren't required), but there is no way you can book a week someplace at 13 months (when the best inventory is available) without borrowing your own future credits, or renting credits from someone else.

FYI: This link shows Completed Auctions for WorldMark accounts on eBay. Note the prices things are selling for. I'm guessing you paid a lot more than these prices for less. https://www.ebay.com/sch/i.html?_fr...meshare+for+sale&_sacat=0&rt=nc&LH_Complete=1.

My 12000 credits account on eBay cost me just under $1600 all-in.

Rescind.

Dave

 

[Grammarhero]

Hi All!

Thanks for all of the great information on this forum. My husband and I sat in on a WM Anaheim pitch yesterday...and went home with a 5,000 credit contract. We spent 7 hours with the team going back and forth on what the benefit would be for a direct contract over resale. My husband and I even went through the TUG threads on this forum when we were at the sales pitch as part of our due diligence. We still have lingering questions about whether or not to rescind.

We ended up purchasing a developer contract for the reasons stated below:

1. Bonus Time. The sales team stated multiple times that Bonus Time is a developer incentive. Contracts purchased on the resale market are NOT eligible for Bonus Time. I even got the sales team to confirm this on video while we were signing the final paperwork.

My question to the forum is: please confirm if Bonus Time something that CAN NOT be transferred on a resale contract?

A follow up question is: is Bonus Time worth paying the developer price?

2. Discounted rates off of the Best Available Rate (BAR) for Wyndham hotels. we were pitched that as WM club members who buy DIRECT, we would have access for hotel rates that are discounted off of the BAR rates for any hotel in the Wyndham portfolio. This is appealing to us because we are planning a trip to Europe (tentative destinations: Denmark, Sweden, Berlin, Prague) and would like to use a combination of timeshare bookings via RCI, and hotel stays using the discounted BAR Rate.

Questions: The sales team said that WM club members who purchase direct can only receive this incentive. Those with a regular Wyndham Rewards account won't receive the discounted BAR rates nor WM club members who purchase resale could benefit from booking with the discounted BAR rate. How accurate is this statement? If I purchase a WM resale contract, will I be eligible for the Wyndham Hotel discounted BAR rate?

3. RCI. We were told Wyndham owns RCI. Because of this, WM club members have "first pick" of RCIs inventory. We opted to not sign up for the RCI membership but were told that we could always sign up later for $99/year

Question: If we purchase a Resale WM contract, would we be able to have access to the same RCI "first pick" inventory that a direct contract would have?

Caveat:
We already own DVC and HGVC (both purchased on the resale market). We already have plenty of options to vacation to destinations that appeal to us.

We bought into WM because we liked WMs vast inventory, ability to have RCIs "first pick" inventory, the Bonus Time, and discounted BAR rates. If can capture all of these perks on the resale market, then I'd like to rescind. The sales team made it seem like these "incentives" were only through the developer. I need the expertise of my fellow TUGGERS for more insight.

Thanks in advance!!!

How much did you pay for your WM TS?


Sent from my iPhone using Tapatalk

 

[fabro001]

Hi All:

Thanks so much for your insight. Letter of rescission has been drafted and will be sent certified return receipt tomorrow. I love this forum! I have one more question about what additional documents to send with the rescission letter. I am sending a signed copy ot the "Notice of Cancellation Rights" that was attached to the Public Report. Do I also have to include a copy of a portion or the entire purchase contract, it's 44 pages?

Thanks again for saving me a bunch of regret on this purcha$e!!!

 

[DaveNV]

Hi All:

Thanks so much for your insight. Letter of rescission has been drafted and will be sent certified return receipt tomorrow. I love this forum! I have one more question about what additional documents to send with the rescission letter. I am sending a signed copy ot the "Notice of Cancellation Rights" that was attached to the Public Report. Do I also have to include a copy of a portion or the entire purchase contract, it's 44 pages?

Thanks again for saving me a bunch of regret on this purcha$e!!!

Send only what they say in the paragraph about rescission. At minimum, just write a letter stating you wish to rescind contract number XYZ signed on date (when signed). Make sure all parties who signed the contract sign the letter. Your certified mailing date is proof you did things right. Don’t call anybody or take any calls from them. They’ll just want to try and talk you out of rescinding.

Dave

 

[sue1947]

All you need is the letter. Nothing else.
Buy resale and get everything worth having. Your points #1-3 are all lies. WM tends to be a good trader but not as good as your Disney or Hilton. WM resorts will be a quality step down from the others you own. All WM owners also can exchange through either RCI or II. Since you already have RCI access, if you buy into WM, you might try II.
Wyndham, the developer for WM, is one of the worst for lies and sleazy sales tactics. Don't believe anything the sales people tell you.

Sue

 

[Grammarhero]

Hi All:

Thanks so much for your insight. Letter of rescission has been drafted and will be sent certified return receipt tomorrow. I love this forum! I have one more question about what additional documents to send with the rescission letter. I am sending a signed copy ot the "Notice of Cancellation Rights" that was attached to the Public Report. Do I also have to include a copy of a portion or the entire purchase contract, it's 44 pages?

Thanks again for saving me a bunch of regret on this purcha$e!!!

If you don’t mind my asking, how much was your WM purchase?


Sent from my iPhone using Tapatalk

 

[geist1223]

It has been a couple years since I bought on the resell market. I was able to luck into a fully loaded 7,000 Point WMTC on EBAY for 10 cents per Point. I also picked up a 22,000 fully loaded account in Ebay for 21 cents per Point. EBAY cost can vary a lot from day to day. The WMTC Owners selling their Accounts on the TUG Market Place or WMOWNERS are asking too high of a price. Spend some time following sales on Ebay.

 

[HudsHut]

There's a 5K account currently on ebay. See eBay item number:
254293634526

 

[geist1223]

Remember you can not so much with 5,000 WMTC Points. But it does give you access to Bonus Time, Inventory Specials, and Monday Madness. These are all cash options.

 

[Grammarhero]

Hi All:

Thanks so much for your insight. Letter of rescission has been drafted and will be sent certified return receipt tomorrow. I love this forum! I have one more question about what additional documents to send with the rescission letter. I am sending a signed copy ot the "Notice of Cancellation Rights" that was attached to the Public Report. Do I also have to include a copy of a portion or the entire purchase contract, it's 44 pages?

Thanks again for saving me a bunch of regret on this purcha$e!!!

Good morning @fabr, we hope your rescission went well and that you are enjoying life without the financial burden of a developer/resort TS purchase. Solely to track how much TUG have saved TS owners, mind sharing how much you saved with the rescission? There is no shaming, as half of tuggers have bought a developer/resort TS.

 

[fabro001]

UPDATE: We successfully rescinded the developer contract for 5,000 credits which cost $2.94/credit = $14,700. Now we are looking into resales for a 10,000 credit contract for a fraction of what we were going to pay. Thanks fellow TUGGERS for the validation and reassurance!

 

[Grammarhero]

UPDATE: We successfully rescinded the developer contract for 5,000 credits which cost $2.94/credit = $14,700. Now we are looking into resales for a 10,000 credit contract for a fraction of what we were going to pay. Thanks fellow TUGGERS for the validation and reassurance!

Wow. Congrats. Quick learner.

 

[Human]

Hi All!

Thanks for all of the great information on this forum. My husband and I sat in on a WM Anaheim pitch yesterday...and went home with a 5,000 credit contract. We spent 7 hours with the team going back and forth on what the benefit would be for a direct contract over resale. My husband and I even went through the TUG threads on this forum when we were at the sales pitch as part of our due diligence. We still have lingering questions about whether or not to rescind.

We ended up purchasing a developer contract for the reasons stated below:

1. Bonus Time. The sales team stated multiple times that Bonus Time is a developer incentive. Contracts purchased on the resale market are NOT eligible for Bonus Time. I even got the sales team to confirm this on video while we were signing the final paperwork.

My question to the forum is: please confirm if Bonus Time something that CAN NOT be transferred on a resale contract?

A follow up question is: is Bonus Time worth paying the developer price?

2. Discounted rates off of the Best Available Rate (BAR) for Wyndham hotels. we were pitched that as WM club members who buy DIRECT, we would have access for hotel rates that are discounted off of the BAR rates for any hotel in the Wyndham portfolio. This is appealing to us because we are planning a trip to Europe (tentative destinations: Denmark, Sweden, Berlin, Prague) and would like to use a combination of timeshare bookings via RCI, and hotel stays using the discounted BAR Rate.

Questions: The sales team said that WM club members who purchase direct can only receive this incentive. Those with a regular Wyndham Rewards account won't receive the discounted BAR rates nor WM club members who purchase resale could benefit from booking with the discounted BAR rate. How accurate is this statement? If I purchase a WM resale contract, will I be eligible for the Wyndham Hotel discounted BAR rate?

3. RCI. We were told Wyndham owns RCI. Because of this, WM club members have "first pick" of RCIs inventory. We opted to not sign up for the RCI membership but were told that we could always sign up later for $99/year

Question: If we purchase a Resale WM contract, would we be able to have access to the same RCI "first pick" inventory that a direct contract would have?

Caveat:
We already own DVC and HGVC (both purchased on the resale market). We already have plenty of options to vacation to destinations that appeal to us.

We bought into WM because we liked WMs vast inventory, ability to have RCIs "first pick" inventory, the Bonus Time, and discounted BAR rates. If can capture all of these perks on the resale market, then I'd like to rescind. The sales team made it seem like these "incentives" were only through the developer. I need the expertise of my fellow TUGGERS for more insight.

Thanks in advance!!!

 

[Human]

I just went through the same process. I even told the salesman that I would go home and research the secondary market and cancel the contract if learned I was overpaying.

I found a thread on here with a sample letter, altered it to fit my situation. I sent it in and got a secure email letter acknowledging that it was canceled and fees returned.

My contract was for 10,000 at $1.98 per. Over a $19,000 debt wiped out. Thanks!

Also, we are looking on eBay now. From my research I am targeting $.30 or less depending on fees, and built up credits. I think it’s very doable maybe even sub $.20 if I’m patient.

Will I have any trouble becoming an owner after rescinding?

 

[Grammarhero]

I just went through the same process. I even told the salesman that I would go home and research the secondary market and cancel the contract if learned I was overpaying.

I found a thread on here with a sample letter, altered it to fit my situation. I sent it in and got a secure email letter acknowledging that it was canceled and fees returned.

My contract was for 10,000 at $1.98 per. Over a $19,000 debt wiped out. Thanks!

Also, we are looking on eBay now. From my research I am targeting $.30 or less depending on fees, and built up credits. I think it’s very doable maybe even sub $.20 if I’m patient.

Will I have any trouble becoming an owner after rescinding?

No, they will not blacklist you. Stick with eBay sellers with established, excellent seller history.

 

[Human]

Thanks, I will. I also got a list of good resellers from this site.

 

[Gary Lamm]

Hi All!

Thanks for all of the great information on this forum. My husband and I sat in on a WM Anaheim pitch yesterday...and went home with a 5,000 credit contract. We spent 7 hours with the team going back and forth on what the benefit would be for a direct contract over resale. My husband and I even went through the TUG threads on this forum when we were at the sales pitch as part of our due diligence. We still have lingering questions about whether or not to rescind.

We ended up purchasing a developer contract for the reasons stated below:

1. Bonus Time. The sales team stated multiple times that Bonus Time is a developer incentive. Contracts purchased on the resale market are NOT eligible for Bonus Time. I even got the sales team to confirm this on video while we were signing the final paperwork.

My question to the forum is: please confirm if Bonus Time something that CAN NOT be transferred on a resale contract?

A follow up question is: is Bonus Time worth paying the developer price?

2. Discounted rates off of the Best Available Rate (BAR) for Wyndham hotels. we were pitched that as WM club members who buy DIRECT, we would have access for hotel rates that are discounted off of the BAR rates for any hotel in the Wyndham portfolio. This is appealing to us because we are planning a trip to Europe (tentative destinations: Denmark, Sweden, Berlin, Prague) and would like to use a combination of timeshare bookings via RCI, and hotel stays using the discounted BAR Rate.

Questions: The sales team said that WM club members who purchase direct can only receive this incentive. Those with a regular Wyndham Rewards account won't receive the discounted BAR rates nor WM club members who purchase resale could benefit from booking with the discounted BAR rate. How accurate is this statement? If I purchase a WM resale contract, will I be eligible for the Wyndham Hotel discounted BAR rate?

3. RCI. We were told Wyndham owns RCI. Because of this, WM club members have "first pick" of RCIs inventory. We opted to not sign up for the RCI membership but were told that we could always sign up later for $99/year

Question: If we purchase a Resale WM contract, would we be able to have access to the same RCI "first pick" inventory that a direct contract would have?

Caveat:
We already own DVC and HGVC (both purchased on the resale market). We already have plenty of options to vacation to destinations that appeal to us.

We bought into WM because we liked WMs vast inventory, ability to have RCIs "first pick" inventory, the Bonus Time, and discounted BAR rates. If can capture all of these perks on the resale market, then I'd like to rescind. The sales team made it seem like these "incentives" were only through the developer. I need the expertise of my fellow TUGGERS for more insight.

Thanks in advance!!!