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Clueless

Tigercat

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I need help. Before we were married 2 years ago, my husband purchased a Wyndham/RCI timeshare in Atlantic City (where we never go or want to go) with 165,000 points and he/we have never used it and the points expire every year. We finally went to some lunch on Sunday (November 15) midday and were talked into "upgrading" to the new Capitol Cove National Harbor and had the deed moved, payed several thousand more and got "VIP" status at teh 385,000 point level. I just looked at the contract and it looks like instead of the $20K I thought we had paid, it is actually a mortgage for $56K at 13% interest! The $20K was a "down payment." I have no idea what this is all about, but I have done some quick research and I can't see a single solitary place I would want to stay in RCI, especially for $56K! I think we are still in the recind period (I will look tonight) but this sounds absurd to me. Any advice for someone who until Sunday was blissfully unaware of what at timeshare was? Thanks!

Is there money to be made renting these out or something? We don't want to stay at National Harbor either as we live directly across the river in Alexandria, VA. The pitch was to get more out of the timeshare we own, that we needed a place with more international trading power in the RCI network. But still, I haven't seen any place I'd actually want to stay in the RCI network. I am a "cutural" traveler who prefers an in-town setting or a natural settings--I don't even like big resorts. My dream is to go on a luxury Safari--which I could do a lot of for $56K! Help!
 
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TUGBrian

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if you are still within your rescind period, do so immediately and learn what you purchased before you are stuck with it forever.

There is no reason to buy something if you are not fully aware of what you are buying...NONE!

if it turns out the deal is what you want (unlikely) you can always go back and request it...they will fall over themselves to get you back.

you only have a short time to rescind, and please do so in compliance with the instructions in your contract.
 

timeos2

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Rescind any Wyndham retail contract is the best advice going

I need help. Before we were married 2 years ago, my husband purchased a Wyndham/RCI timeshare in Atlantic City (where we never go or want to go) with 165,000 points and he/we have never used it and the points expire every year. We finally went to some lunch on Sunday (November 15) midday and were talked into "upgrading" to the new Capitol Cove National Harbor and had the deed moved, payed several thousand more and got "VIP" status at teh 385,000 point level. I just looked at the contract and it looks like instead of the $20K I thought we had paid, it is actually a mortgage for $56K at 13% interest! The $20K was a "down payment." I have no idea what this is all about, but I have done some quick research and I can't see a single solitary place I would want to stay in RCI, especially for $56K! I think we are still in the recind period (I will look tonight) but this sounds absurd to me. Any advice for someone who until Sunday was blissfully unaware of what at timeshare was? Thanks!

Is there money to be made renting these out or something? We don't want to stay at National Harbor either as we live directly across the river in Alexandria, VA. The pitch was to get more out of the timeshare we own, that we needed a place with more international trading power in the RCI network. But still, I haven't seen any place I'd actually want to stay in the RCI network. I am a "cutural" traveler who prefers an in-town setting or a natural settings--I don't even like big resorts. My dream is to go on a luxury Safari--which I could do a lot of for $56K! Help!
First off you are correct to rescind the new purchase ASAP. Don't wait & follow the instructions exactly.

Then think about what you already own and what you want to do with it. Paying the annual fes and then not using the points is beyond a waste of money. You can do a little research about how Wyndham points works and see if there are places you want to go (like National Harbor or Alexandria - you can use your EXISTING points for those - you don't need to buy anymore especially the 90% over priced developer points you were mislead into purchasing). If you really don't want them or wish to use them you are far better off selling (or maybe giving them away as they don't have much value) rather than continuing to throw good annual fee money down the drain.

But first get out of the very poor decision to commit to more points that you are paying far too much for and certainly don't seem to need.
 

Tigercat

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Thanks so much!

Is there anything to the pressure pitch that the resort will sell out (even in a recession)? I feel so stupid--I don't what happed. I just got glazed over with the paperwork and stopped reading what I was signing. How stupid is that??
 

timeos2

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Sold out or not - you can use your points to go there

Is there anything to the pressure pitch that the resort will sell out (even in a recession)? I feel so stupid--I don't what happed. I just got glazed over with the paperwork and stopped reading what I was signing. How stupid is that??
Yes, with a little luck it will sell out. But that's the beauty of Wyndham Points. You don't need to own there to go there. You simply use your points - wherever they are based - to reserve the time/resort you want. You don't care if the resort is 1% or 100% sold. And being sold doesn't mean you can't get in (they use the same line at every resort even after being reminded tha we're THERE on points based elsewhere in the system. It is a standard sales line that appears to be factual yet is a blatant lie).
 

Bill4728

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Wyndham has a great internal point system for using your pts to go to most any of the other approx 50 wyndham resorts. As long as you can plan your trips about 10 months in advance, you should be go to the other wyndham resorts via the internal trading system. You will not have to use RCI at all.

Good Luck and Welcome to TUG
 

Tigercat

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Thanks again!

I'll do my homework from now on and really appreciate finding such a good resource. I have written a cancellation notice and will send it tomorrow, well within the recind period which I learned about from your excellent information on this site.

I really panicked. Now that I am aware of what we have, I'll see how we can enjoy it and get the most out of it--(though I'm still going on that safari, some day!). I'll look forward to learning from the site.

Thanks for your quick replies and your patience.
 

Patri

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When you mail the recission, get a return receipt for proof you sent it off in time. Doesn't matter what day it arrives there.
 

JLR5372

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Make sure you send it certified mail ONLY!!!! Thats what we did and we got our money bank on a TS we suckered into on vacation in Vegas!!! We were within the rescind period and it scared me to death, but it all worked out, thanks to this website!!
 

Tigercat

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Wonderful resource

This site is a wonderful resource for newbies! I really appreciate the sharing of information and help I received. I sent off a recind letter today by certified mail, return receipt requested. Before reading the information on this site and receiving immediate and very kind assistance, I really wasn't conscious of canellation clauses! I am very grateful!
 
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