Almost bought a timeshare

[DaveNV]

So I have been doing A LOT of reading in the last 24 hours and it seems Westgate has a lot of restrictions on resale buyers and treat them worse. My family has gone to gatlinburg for the better part of 25 years and spends 3500 on a cabin each year so i question if the maintenance fee is worth saving my price on the cabin and for better location and amenities. Which is why I can’t find historical maintenance fee prices and I’m wondering if they truly stay close to the same.

I can't help you with your specific questions about that resort, or the booking options. I do know that Westgate is referred to as "Wastegate" around here by those who own there. That has to say something about how they operate, and what owners think about them.

As to maintenance fee increases, even if they've stayed the same for years, there is no guarantee they won't skyrocket next year. So take that sales comment with a huge grain of salt. Expect maintenance fees will increase every year, and be surprised if they don't.

If you feel you will get your money's worth, and you feel you'll have no regrets, then go ahead and continue with what you purchased. But your nagging questions about ability to book what you bought and paid for would concern me though. They did you no favors with what you bought, and you're paying $7K for something you can only use every other year - after you pay the maintenance fees - and then only IF you can book what you want. I don't consider that a good way to start off owning any timeshare.

So I'll say it again - rescind while you can. If you do your research and decide this was the best deal you could get, then you can always buy it again. They'll gladly sell you the same thing again. But if you don't rescind, and find out it isn't what you were promised, or if there are problems with booking there and such, you could be stuck with something that will not suit your needs.

For me, those red flags are enough to pull the plug and rescind. Don't get ripped off.

Dave

 

[mark201235]

Our first timeshare presentation experience happened over 20 years ago. We did one of those discounted Fairfield (now Wyndham of course) packages at Williamsburg. At that time I knew virtually nothing about timeshares, really only that my father owned three weeks at Blue Tree Resort in Orlando (developer purchased weeks). I'll never forget what most likely was the only thing that saved us from purchasing retail. I went to the hotel lobby for coffee that morning. There was a stack of USA Today newspapers there and I was flipping through while my wife was getting ready. On the front page of the Money section was an article on purchasing timeshare resales. Talk about good luck. I read the article and stuck that section of the newspaper in my back pocket for the tour. Needless to say, we purchased nothing that day. It's highly likely that we would have purchased retail hadn't that article been in the paper that day. I did some research when we returned home and our first purchase happened shortly thereafter, resale of course. We have acquired several other deeds since then and are happy with them all.

Mark

 

[TheTimeTraveler]

So I have been doing A LOT of reading in the last 24 hours and it seems Westgate has a lot of restrictions on resale buyers and treat them worse. My family has gone to gatlinburg for the better part of 25 years and spends 3500 on a cabin each year so i question if the maintenance fee is worth saving my price on the cabin and for better location and amenities. Which is why I can’t find historical maintenance fee prices and I’m wondering if they truly stay close to the same.

Wastegate does treat their resale customers like Pond Scum. IF you do decide to buy at Wastegate (which I don't recommend) then be sure to buy a FIXED WEEK. Fixed weeks will give you a definitive week every year without trying to reserve one at the last minute (which they require resale buyers to do). Not all Wastegate Resorts have fixed weeks.

Meanwhile, as others have suggested, be positively sure to RESCIND now. The rescind option only exists for a few short days, but your ownership will last for years if you don't rescind AND you will have difficulty in unloading it when you finally decide to bail out.



.

 

[JuneL]

After reading all your comments, I'm so glad I didn't buy last week. Now I'm researching resale and renting, so excited to join this group. I'm confident my family will save money from all the knowledge I learn here, and wisdoms you guys help me gain