Are there any advantages to buying directly from Wyndham?

[letto115]

I just purched a Wyndham Resorts timeshare from the developer. Prior to the timeshare presentation I did with them I have never even thought about purchasing a timeshare. I have done some research and found the secondary market. I can buy the same amount of points on eBay or other websites I found for $12,000 less then what I paid. I have until Monday to rescind the contract. Are there any advatages to buying from the developer? $12,000 is a lot of $. Would I get any benefits from the developer (like a better chance to reserve the place and time I want) that I wouldn't get from the secondary market. Are there title issues when buying from the secondary market?

Thanks

 

[DaveNV]

Rescind NOW while you can! You will not regret it. There are no advantages to paying thousands of dollars more than necessary for a timeshare.

Check the resale market and compare things, then buy resale, if you still want that same resort. If you later decide you MUST buy from the developer, you can certainly do it again. There will always be plenty of developer sales waiting out there.

But with more research, you'll find resale is the ONLY way to buy. Thousands of TUGgers will agree with me.

Dave

 

[FlyerBobcat]

time to rescind?

This one reminds me of a recent thread:

http://www.tugbbs.com/forums/showthread.php?t=85779

While the title work should certainly be more straight-forward buying from the developer than some other methods, $12k is a BIG difference.

You should do way more research before buying IMO.

In sure other way more experience TUGGERs will chime in here...

I just purched a Wyndham Resorts timeshare from the developer. Prior to the timeshare presentation I did with them I have never even thought about purchasing a timeshare. I have done some research and found the secondary market. I can buy the same amount of points on eBay or other websites I found for $12,000 less then what I paid. I have until Monday to rescind the contract. Are there any advatages to buying from the developer? $12,000 is a lot of $. Would I get any benefits from the developer (like a better chance to reserve the place and time I want) that I wouldn't get from the secondary market. Are there title issues when buying from the secondary market?

Thanks

 

[timeos2]

Never buy Wyndham retail

This one reminds me of a recent thread:

http://www.tugbbs.com/forums/showthread.php?t=85779

While the title work should certainly be more straight-forward buying from the developer than some other methods, $12k is a BIG difference.

You should do way more research before buying IMO.

In sure other way more experience TUGGERs will chime in here...

Buying into the GREAT Wyndham points system retail is a big mistake. (In the OP case a $12,000 mistake). Buying into the GREAT Wyndham system resale is one of the great bargains in timeshare IMO. The $12,000 buys you nothing. The fees are the same no matter how you purchased and over time that is the true cost of owning any timeshare or timeshare system. Don't make a $12,000 mistake - rescind now while you can and then find a nice resale package and start enjoying the Wyndham Fairshare Plus system.

 

[letto115]

are there any issues or things that aren't included (like the VIP program) when you buy resale? Are you still able to go anywhere you want, or are you limited to the resort you purched? Any disadvantages to buying resale?

 

[jdb0822]

There are plenty of advantages from buying direct from Wyndham, unfortunately, they all favor Wyndham and not you.

As for VIP, yes, you need to buy from Wyndham, but can you say with a straight face that VIP is worth $12K ? Those benefits (mainly a daily paper and I think an earlier check-in) are SUBJECT TO CHANGE, and from what I understand, have changed over the years. Its not carved in stone, don't believe the hype from the salesmen.

As to reservations, no matter where your points are, you can use them anywhere.

I bought 126,000 points (RESALE!) at Wyndham Pagosa last year for $1,500 (cheaper now). I have used those points for a week at Bonnet Creek in Orlando, and I just booked for a week next month in Vegas.

Points are points. To be honest, its quite possible that I will never even see my home resort since its in Colorado and I am in R.I.

RESCIND NOW

 

[Zac495]

are there any issues or things that aren't included (like the VIP program) when you buy resale? Are you still able to go anywhere you want, or are you limited to the resort you purched? Any disadvantages to buying resale?

Things like VIP are WORTHLESS. When you try to rescind, they'll tell you we don't know what we're talking about. They'll tell you your trade power won't be as good. They'll tell ANY lie to keep the sale.

So here's my advice: RESCIND immediately. Then do your research. I promise you that if you decide to call them back 3 weeks or 3 months later, nothing will change - you can always buy from them (but none of us think you should). Since you're not sure, spending that kind of money without lots of research makes no sense.

Furthermore, are you sure Wyndham is right for you? I am saying nothing good/bad about Wyndham. I'm just saying that MANY OF US bought our first timeshare before we knew anything about timeshares. There are lots of good ones out there including Wyndham, Marriott, Hilton, Hyatt, and cheaper ones - the list goes on and on. This is a buyer's market - you can get great deals right now.

Oh - and to answer your question - resale =developer in II and RCI books - they don't care. Even the developer doesn't notice. When I checked into a Hilton resort recently (bought it resale) I was upgraded because I was "elite." All they noticed was that I was an owner, not an exchanger. They had no idea I bought it for pennies on the dollar.

Rescind!

 

[djs]

When you recind, follow the instructions in your contract VERY carefully. Generally they'll say to mail the letter via Certified Mail. The letter also usually only has to be postmarked by the final date, and can be received later by the resort. You will not do yourself any favors by sending your letter by FedEx or some other overnight courier.

If you live near a major city (Boston, NYC, Philly etc) chances are there's even a post office that is open on Sunday, but since you say you have until Monday that really shouldn't come into play....though I'd get the letter to the Post Office ASAP just for piece of mind.

Also, you may be saving a lot more than $12,000; if you financed the purchase think of all the interest you'd be paying over the term of the loan.

Good Luck!!

 

[letto115]

Ok,so now that you've convinced me to rescind,how do I determine what the right TS for me is? I liked the idea of pts instead of weeks. I can go somewhere for a few nights or a whole week. I can go places during the off season and spend more time there b/c it costs less pts in the offseason. What types of things should I consider when looking for a TS? The sales person did a very good job of selling me on the TS concept and now I want one.

 

[timeos2]

Nothing wrong with Wyndham except the retail pricing

Ok,so now that you've convinced me to rescind,how do I determine what the right TS for me is? I liked the idea of pts instead of weeks. I can go somewhere for a few nights or a whole week. I can go places during the off season and spend more time there b/c it costs less pts in the offseason. What types of things should I consider when looking for a TS? The sales person did a very good job of selling me on the TS concept and now I want one.

Nothing wrong with jumping right into a system you already are "sold on" - Wyndham points. The ONLY problem was you were paying too much at retail. Now if you ave rescinded shop around fr an easily available package of FSP Points at a 90% savings and stat enjoying the very program they sold you on - we love it - but at a tremendous savings. You had it right except for the price.

 

[Timeshare Von]

Here's another vote for "yes" on Wyndham . . . and NO to retail/developer purchase. I own two fixed weeks (they aren't for everyone!) and a small points contract with Wyndham and my happiness with them clearly outweigh the minor inconveniences and aggrevations I experience with them.

My other TS ownership is a floating 1-52 week on Oahu (Waikiki) and is very flexible with dirt cheap MF's and free parking at the resort!

 

[Bill4728]

Ok,so now that you've convinced me to rescind,how do I determine what the right TS for me is? I liked the idea of pts instead of weeks. I can go somewhere for a few nights or a whole week. I can go places during the off season and spend more time there b/c it costs less pts in the offseason. What types of things should I consider when looking for a TS? The sales person did a very good job of selling me on the TS concept and now I want one.

There are lots of great TS systems and buying wyndham resale is one of the cheapest options. There was post last week saying they had just bought 300,000 pts based in Vegas for less than $1000.

BUT you may find another point based TS may fit your needs better. Spend some time here and see what other options may be for you.

Welcome to TUG

PS remember to RESCIND ASAP!!

 

[Bill4728]

Are there title issues when buying from the secondary market?

Thanks

There can be issues buying on the secondary market. But with the huge savings, it almost always pays to take the slight extra risk buying on the resale market.

Remember, if you buy resale, the best way to protect yourself from getting ripped off is use a third party TS transfer company and insist that all moneys be held in escrow till the TS is transferred to your name. Also get an estopell letter from the resort which should confirm what is owned, are there any liens & any unpaid MFs.

If I had to guess I say that <5% of TS sold are some kind of rip-off. AND Most of those are semi-honest mistakes which most of the time ( after lots of head aches) you'll get your money back.

 

[waldvogelmj]

When some of you are saying $1000 for 300,000 points, are you saying that is the cost for 300,000 points per year or a one shot addition of 300,000 points? I sat through a presentation in Orlando today and was offered something like 100,000 annual points for $14,000. Are we talking apples to apples but just with completely different pricing in the secondary market?

 

[djs]

No one should deny that there are advantages from buying from the developer (as there clearly are). The only thing is that ALL of those advantages go to the developer and/or the sales person (though perhaps some of them go to whoever is involved in the financing end of the transaction).

 

[sernow]

Same apples, just these apples are 1/42 the cost of those developer apples.

 

[malyons]

yes, apples to apples....resale is THAT much cheaper. MF's are the same (assuming same number of pts at same resort) whether you buy developer or resale

 

[Bill4728]

Compare wyndham bought vs Resell

Compare wyndham vs Resale:

$14,000 for 100K pts if bought from the developer

<$1000 for 150K pts if bought resale ( I believe that the current average price for wyndham TS is now less than $1000/150k pts)

With both you'll get ownership and points which allow you to make reservation at your home resort (at the same time) and at other wyn resorts (at the same time). You'll both be able to trade via RCI weeks for other TS around the world. With both, you'll be able to rent from other wyndham owners, extra points you can use to make reservations if you don't own enoght points at a cost of less than what you'd pay in MFs for those points if you owned them.

You'll both pay exactly the small yearly MFs.

Only with developer bought:
- be allowed to finance your TS purchase
-You can trade via RCI points ( not just RCI weeks) and using RCI points may be able to do less than a full week trades.
- You may qualify for VIP status
with VIP status you may be able to get some small discounts on things like guest certificates and other fees.

For these small extras, you'll pay at least 25 times more for your TS. AND to get the biggest benifit from VIP, you'll have to own somewhere around 500,000 points at a cost of ~ $70,000.

Hope this helps