Bought Wyndham CWA retail, still within rescission window, urgent questions!

[ruebixcube]

congrats on finding TUG to get the answers you needed to rescind and save a fortune!

how much was the original contract for so we can track it on our chart of rescission dollars!

Just under $20,000 for 126K Wyndham CWA points

 

[55plus]

Thank you for this detailed explanation. I have been able to gain a lot of knowledge by reading other threads, but sometimes I need to have my specific question answer clearly instead of trying to put the pieces together through the answers to other people's questions. You all have been very helpful.

Knowledge is power. The more knowledge you have about timeshares the more power you'll have to prevent yourself from being ripped off.

 

[ruebixcube]

You will not be able to book Worldmark properties with resale points - this is true.

What is also true, is that for what you are paying for your purchase - you could buy both a Club Wyndham membership AND a Worldmark membership on the resale market - and likely pay for 10 years of annual dues with the money you would save. And still save money.

Those are all good questions. But the only immediate deadline you face is the exercising your right to rescind. If you rescind and later decide you made a mistake, you will be able to buy exactly what you have purchased plus any incentives they gave you. If do not rescind and later decide you made a mistake you will be out of thousands and thousands of dollars.

I have been referred to you with questions about Worldmark, Wyndham and how to work both of those systems to gain access to what we want. I posted a thread in the Worldmark group asking some questions, do you have time or mind if I pick your brain a little when it comes to choosing between these two or utilizing both? My husband and I have talked about, in the future, doing the PIC to VIP process depending on how the new program rolls out. But want to start small and make sure that the timeshare way of travel truly works for our family. Anyway, let me know if you have time to chat details!

 

[ecwinch]

I have been referred to you with questions about Worldmark, Wyndham and how to work both of those systems to gain access to what we want. I posted a thread in the Worldmark group asking some questions, do you have time or mind if I pick your brain a little when it comes to choosing between these two or utilizing both? My husband and I have talked about, in the future, doing the PIC to VIP process depending on how the new program rolls out. But want to start small and make sure that the timeshare way of travel truly works for our family. Anyway, let me know if you have time to chat details!

Sure. I've sent you a PM.

 

[buckor]

My husband and I purchased a Wyndham CWA contract over the weekend, thinking that buying retail offered benefits for long term ownership versus buying resell points. We purchased 126,000 points with 2 year VIP status, received 2 RCI weeks and 174,000 one-time bonus points. We have spent hours in the forum reading so much great information but needed some clear answers to our specific questions if anyone has time. We are both in our mid-thirties, currently vacation frequently with our two children, and have friends and extended family that often join us. We plan on working the system to our benefit in any way possible.

1. There has been mention that over the long term (greater than 20 years) there becomes a point that retail points may save money over resell points, I cannot figure out why. My understanding is that CWA points purchased either way are assessed the same MFs and the program fee is a flat rate up to 231,000 points where then it becomes .58 for resell and .60 for retail per 1k points. Can someone clarify if there is any benefit in overall cost to buy retail over resell when planning on utilizing the timeshare for greater than 20 years?

2. Other than purchasing a minimum amount of points through a developer to utilize the PIC program to gain VIP status, is there any other reason to purchase retail points. Any benefit that can never be had with resell points?

3. Has anyone been treated poorly by Wyndham when holding resell points versus developer points? Are you the red-headed step child?

4. Is the RCI membership included in the Wyndham program fee? Do you pay anything additional to RCI or Wyndham with resell points that you don't with developer points?

Thank you in advance for your help!

My wife and I were originally introduced to Wyndham by purchasing a retail contract. We left that purchase and I immediately started wondering about resale and resale values. What I saw told me to rescind immediately...and I'm glad I did. That said...

We purchased our first few contracts resale and learned the system. We enjoyed great vacations and no one treated us any differently for being resale (other than the sales people who were always trying to get us to buy from them because our resale was "worthless"...anyway, I digress). Owning resale was the best thing we could have done...it allowed us to learn which resorts we'd like to own at, how to understand and use the various booking windows, how to use the website (which changed on us in May 2017), etc.

After we became comfortable with how to use what we owned we then began considering purchasing retail. I was able to rent some of my points and felt building towards the various VIP levels would be worth it for us. We bought a small retail contract and "practiced" with our temporary VIP Silver account. After using that for 2 years we decided to go higher and are now VIP Gold utilizing 2 PIC weeks and another smallish retail purchase to get us there. However...

We would have never been able to figure all this out had we not slowed down, paid pennies on the dollar for resale, learned the system, and learned how to make it work for our family.

Our vacations in a typical 2 bedroom deluxe cost us less per day than what we were spending on hotel rooms. We are very happy with our retail and resale purchases.

So, my advice, rescind immediately. Find a resale contract to learn with...don't get too wrapped up with MFs, etc, at this point (as long as you're around the average of $6.50 +/- you're okay right now) because you can get more contracts later that will fit your portfolio better. Learn the ropes, visit the resorts, and then add to your portfolio what you think works for you and your family.

My wife and I were in our late 30s when we started (now early 40s)...and we're glad we did. Our only regret is that we didnt know how great this could be earlier. Our children love the vacations, we love the time together as a family!

Blessings,

Orlando

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[HitchHiker71]

My wife and I were originally introduced to Wyndham by purchasing a retail contract. We left that purchase and I immediately started wondering about resale and resale values. What I saw told me to rescind immediately...and I'm glad I did. That said...

We purchased our first few contracts resale and learned the system. We enjoyed great vacations and no one treated us any differently for being resale (other than the sales people who were always trying to get us to buy from them because our resale was "worthless"...anyway, I digress). Owning resale was the best thing we could have done...it allowed us to learn which resorts we'd like to own at, how to understand and use the various booking windows, how to use the website (which changed on us in May 2017), etc.

After we became comfortable with how to use what we owned we then began considering purchasing retail. I was able to rent some of my points and felt building towards the various VIP levels would be worth it for us. We bought a small retail contract and "practiced" with our temporary VIP Silver account. After using that for 2 years we decided to go higher and are now VIP Gold utilizing 2 PIC weeks and another smallish retail purchase to get us there. However...

We would have never been able to figure all this out had we not slowed down, paid pennies on the dollar for resale, learned the system, and learned how to make it work for our family.

Our vacations in a typical 2 bedroom deluxe cost us less per day than what we were spending on hotel rooms. We are very happy with our retail and resale purchases.

So, my advice, rescind immediately. Find a resale contract to learn with...don't get too wrapped up with MFs, etc, at this point (as long as you're around the average of $6.50 +/- you're okay right now) because you can get more contracts later that will fit your portfolio better. Learn the ropes, visit the resorts, and then add to your portfolio what you think works for you and your family.

My wife and I were in our late 30s when we started (now early 40s)...and we're glad we did. Our only regret is that we didnt know how great this could be earlier. Our children love the vacations, we love the time together as a family!

Blessings,

Orlando

Sent from my SAMSUNG-SM-J727AZ using Tapatalk

Excellent advice and backstory buckor! I did the opposite, I went VIPG (temp VIPP) using two PIC properties for 508k annual points plus 210k CWA points (718k total annual points - assuming I convert the PICs every year). I cannot seem to justify getting up to VIPP permanent though. PIC was definitely the right way to go to get to permanent VIPG without breaking the bank. We're probably going to pick up a resale contract or two instead of trying to get up to permanent VIPP as I just can't justify the additional expense. We have vacationed more in the past year than in the prior five years combined, so the investment for us has really paid off for our quality of life. We are in our late 40's now with young adult children. Wish we would have done this years ago!

 

[Braindead]

My wife and I were originally introduced to Wyndham by purchasing a retail contract. We left that purchase and I immediately started wondering about resale and resale values. What I saw told me to rescind immediately...and I'm glad I did. That said...

We purchased our first few contracts resale and learned the system. We enjoyed great vacations and no one treated us any differently for being resale (other than the sales people who were always trying to get us to buy from them because our resale was "worthless"...anyway, I digress). Owning resale was the best thing we could have done...it allowed us to learn which resorts we'd like to own at, how to understand and use the various booking windows, how to use the website (which changed on us in May 2017), etc.

After we became comfortable with how to use what we owned we then began considering purchasing retail. I was able to rent some of my points and felt building towards the various VIP levels would be worth it for us. We bought a small retail contract and "practiced" with our temporary VIP Silver account. After using that for 2 years we decided to go higher and are now VIP Gold utilizing 2 PIC weeks and another smallish retail purchase to get us there. However...

We would have never been able to figure all this out had we not slowed down, paid pennies on the dollar for resale, learned the system, and learned how to make it work for our family.

Our vacations in a typical 2 bedroom deluxe cost us less per day than what we were spending on hotel rooms. We are very happy with our retail and resale purchases.

So, my advice, rescind immediately. Find a resale contract to learn with...don't get too wrapped up with MFs, etc, at this point (as long as you're around the average of $6.50 +/- you're okay right now) because you can get more contracts later that will fit your portfolio better. Learn the ropes, visit the resorts, and then add to your portfolio what you think works for you and your family.

My wife and I were in our late 30s when we started (now early 40s)...and we're glad we did. Our only regret is that we didnt know how great this could be earlier. Our children love the vacations, we love the time together as a family!

Blessings,

Orlando

Sent from my SAMSUNG-SM-J727AZ using Tapatalk

This deserves a Sticky Thread all by itself !!!

 

[buckor]

Excellent advice and backstory buckor! I did the opposite, I went VIPG (temp VIPP) using two PIC properties for 508k annual points plus 210k CWA points (718k total annual points - assuming I convert the PICs every year). I cannot seem to justify getting up to VIPP permanent though. PIC was definitely the right way to go to get to permanent VIPG without breaking the bank. We're probably going to pick up a resale contract or two instead of trying to get up to permanent VIPP as I just can't justify the additional expense. We have vacationed more in the past year than in the prior five years combined, so the investment for us has really paid off for our quality of life. We are in our late 40's now with young adult children. Wish we would have done this years ago!

Yeah, I struggle to see where the additional value is for going VIPP at this point, especially since i was given the 2 contracts I PICd and they have such LOW mfs (2x 3 bedroom units at Twin Rivers in Colorado).

I know this is a slight track change, but if the new VIP levels that are being talked about elsewhere come to be, especially the new 1.4 million level, it will only be because Wyndham realizes that to reach that level will require a minimum purchase of 700k retail points (from VIPG)...right now I have 508k of points from PICs, so my cost to VIPG is well worth it, especially with the low MFs from the PICs.

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[buckor]

This deserves a Sticky Thread all by itself !!!

Thank you for the vote of confidence!

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[Sarah Meister]

Can someone explain PIC properties to me and how to purchase those to get to Presidential in Wyndham. We are currently VIP Silver.

 

[Richelle]

Can someone explain PIC properties to me and how to purchase those to get to Presidential in Wyndham. We are currently VIP Silver.

You cannot use PIC to get to Presidential Reserve. You need PR points to be Presidential. Those points are different then regular points. They run about $330 to $390 per 1,000 points and you need to buy a minimum of 225,000 points. You can use PIC to get points towards Platinum VIP. They max out at 508,000 PIC points because you are only allowed two PICs. The most points you can get per PIC is 254,000. That’s a 3 bedroom. You need a qualifying fixed or float week (no points) at a RCI affiliated non-Wyndham resort. It requires a minimum retail purchase of 49,000 points per PIC week. So if you do the maximum of two, you need to buy 98,000 retail points. 105,000 point contract runs in the $16k range. The more points you buy, the bigger the discounts. I have no idea what specials telesales has going on now, but they are always cheaper then the resorts. However, I recently learned they only sell CWA points. With the exception of Orlando being able to see non-PR Bonnet Creek points. Deeded points including PR points, have to be purchased at the resorts. The best way to buy deeded points is at resorts that offer piggyback deed line Edisto or Flaggstaff. You have to buy a set number of points at a regular price, and then they will offer you a much cheaper contract. I heard of a 750,000 one for $37,000. You have to buy 210,000 regular points though at $175 per 1,000. So 73,750 for 960,000 points which doesn’t include he PIC.

You can get the PIC weeks on the resale market like eBay, TUG, Redweek, or Timeshare Nation.


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[dgalati]

This deserves a Sticky Thread all by itself !!!

OPS May also consider renting from a VIP instead of owning. Try the product out without the commitment of buying or paying maintenance fees. If you like it purchase a few resale contracts for under $100 then add from there.