Bought Spinnaker Timeshare in Daytona Florida is this a good buy?

[t24moore]

Hello everyone and thank you in advance for any help here. 2 days ago I attended a Spinnaker presentation and the offered me a condo with unlimited getaways and every other year for $8000 and its located in the Royal Floridian on Ormund beach. I have my reservations about timeshares but this SEEMED to me like it was a great deal but I would like to see what the experts here say.

Thomas

 

[jwalk03]

You should rescind while you still can. Florida law allows you 10 days. Follow the recession instructions in your contract and keep proof that you mailed a letter prior to the deadline. Save yourself $8000! You can get a spinnaker deed for zero dollars on the resale market.

 

[dioxide45]

You are still in your rescission period, so I would suggest that you cancel. You have plenty of time to do more research but a limited time to cancel.

You can find timeshares that also get unlimited getaways through RCI or II for a fraction of that cost. $0 in many cases.

 

[vacationtime1]

The timeshare you purchased is available on the secondary market for less than $1,000, and that's the asking price; see https://www.redweek.com/resort/P1648-royal-floridian-resort/timeshare-resales

Unlimited Getaways is no big deal. Those are available for anyone owning any timeshare through Interval or RCI.

 

[t24moore]

Thank you all for the fast replies! Writing cancellation letter right now!

 

[amycurl]

View all of this as great news--the value that you saw as being worth $8K is still there, but you can get all of that for almost nothing! Timeshares can be a great way to take excellent vacations in spacious accommodations at a reasonable price, but they do take research and understanding to do so. Take your time to research and congratulations on finding us in time to rescind!

 

[dioxide45]

Thank you all for the fast replies! Writing cancellation letter right now!

You can get a far better timeshare in a far better location (perhaps with higher maintenance fees) for far less than $8000. I suspect you bought an every other year studio?

 

[t24moore]

View all of this as great news--the value that you saw as being worth $8K is still there, but you can get all of that for almost nothing! Timeshares can be a great way to take excellent vacations in spacious accommodations at a reasonable price, but they do take research and understanding to do so. Take your time to research and congratulations on finding us in time to rescind!

I appreciate everyone. At the time I had this nagging feeling that I should walk away but then the salesman knocked another $1400 off the price so that helped pushed me over the edge. But something still didnt sit right with me and I decided to just search around for opinions. I owe you all 8000 likes!

 

[TUGBrian]

wow, welcome to TUG! you just saved yourself $8000 bucks!