Did I just taken to the cleaners?

[siftertn101]

We just spent a few days at Ocean Walk in Daytona. We went to the owner meeting (1st mistake). We where informed of the new point levels that would be coming out and we were sold on buying more points to be grandfathered in at what would be considered silver now but after the changes would require 500,000 points for same benefits.
Now that we are home and I have more time to study the fine print. I have some major concerns.Mainly price of points went way up from our original purchase. We 1st bought into access last yr. with 200,000 points. We doubled and the price almost doubled as well. I wont go into all the gory details of why or how I seemed not to notice this at the time, but it did.
We are still within our resend period. I was just wondering what the average price is being paid for 200,000 points? we will be paying in excess of $15 per thousand. As I said earlier this end up be much more than 1 yr ago.
Thanks in advance for any help or advice, we have 3 more days in our 7 to send a letter.

 

[jcraycraft]

Rescind and figure it out later
Also-- do you mean $150/1000?

 

[Richelle]

The average price is around $155 per 1,000 or $16,275 for 105,000 points through telesales (resort pricing is more like $170 per 1,000). Prices could have gone up slightly since I last heard. $15 per 1,000? Is that a typo? Prices should not have doubled. Plus, for 200,000 points, it should be less than $175 at the resorts. That number was for 105,000 points. You should see more like $165 per 1,000 points. With that said, you should rescind. There is a thing called the PIC program that will get you a higher level of VIP for around $16 -$17k. If you have 200,000 retail bought now, you can get VIP Gold for that price. VIP Platinum will probably run you closer to $35k - $40k. It would require you to buy a couple qualifying 3 bedroom PICs on eBay (or another third party site) and enrolling them into PIC. For two of them, you'd have to buy a minimum of 98,000 points from Wyndham. That would put you at 806,000 points and VIP Gold. Rescind today. Some places give you as little at 3 days to rescind. I think Florida is 10 but check the contract to be sure.

 

[siftertn101]

Rescind and figure it out later
Also-- do you mean $150/1000?

Yes, sorry about that. I guess I'm getting tired.
Thank you for the reply

 

[cbyrne1174]

You are better off IMO paying the $16,275 Richelle stated to PIC to VIP Gold than pay $30,000 to be at Silver without PIC.

 

[pedro47]

Please rescind if you can ASAP.

 

[siftertn101]

The average price is around $155 per 1,000 or $16,275 for 105,000 points through telesales (resort pricing is more like $170 per 1,000). Prices could have gone up slightly since I last heard. $15 per 1,000? Is that a typo? Prices should not have doubled. Plus, for 200,000 points, it should be less than $175 at the resorts. That number was for 105,000 points. You should see more like $165 per 1,000 points. With that said, you should rescind. There is a thing called the PIC program that will get you a higher level of VIP for around $16 -$17k. If you have 200,000 retail bought now, you can get VIP Gold for that price. VIP Platinum will probably run you closer to $35k - $40k. It would require you to buy a couple qualifying 3 bedroom PICs on eBay (or another third party site) and enrolling them into PIC. For two of them, you'd have to buy a minimum of 98,000 points from Wyndham. That would put you at 806,000 points and VIP Gold. Rescind today. Some places give you as little at 3 days to rescind. I think Florida is 10 but check the contract to be sure.

I guess I need to figure out what all the different options are. I did make a typo. We entered into Wyndham last Oct. and purchased 200,000 points for aprox $22,600. They also gave us bonus points to achieve silver status for 2 yrs. We have enjoyed it and very much enjoy the resorts and different locations we can go to. We entered in under Club Wyndham Access. We really haven't looked into or have had any options explained to us.
That being said, while at Ocean Walk we purchased another 200,000 points but we will be paying $33,800 for this allocation of points. So an additional $11,200 in the coarse of 1 Yr, almost to the day. I guess I messed up my math big time earlier. That would be an increase by 1/2 not double, but still pretty hefty. They also gave us additional bonus points this time as well. When in discussions of all this I thought we where going to roll it all up in one contract and go on. That isn't exactly how it went. As I said earlier a big reason for jumping into another 200,000 points was to be grandfathered into the new categories they are coming out with. I forget which one it is, but it would be considered silver now, with the 25% discount. They moved away from the gemstone and metal names and came up with 5 other names.
Anyway, I am flying somewhat blind to what the avg market price for this is. I think I need to do a lot more research and look at my options are.
Thank You very much for your reply and information

 

[Richelle]

I guess I need to figure out what all the different options are. I did make a typo. We entered into Wyndham last Oct. and purchased 200,000 points for aprox $22,600. They also gave us bonus points to achieve silver status for 2 yrs. We have enjoyed it and very much enjoy the resorts and different locations we can go to. We entered in under Club Wyndham Access. We really haven't looked into or have had any options explained to us.
That being said, while at Ocean Walk we purchased another 200,000 points but we will be paying $33,800 for this allocation of points. So an additional $11,200 in the coarse of 1 Yr, almost to the day. I guess I messed up my math big time earlier. That would be an increase by 1/2 not double, but still pretty hefty. They also gave us additional bonus points this time as well. When in discussions of all this I thought we where going to roll it all up in one contract and go on. That isn't exactly how it went. As I said earlier a big reason for jumping into another 200,000 points was to be grandfathered into the new categories they are coming out with. I forget which one it is, but it would be considered silver now, with the 25% discount. They moved away from the gemstone and metal names and came up with 5 other names.
Anyway, I am flying somewhat blind to what the avg market price for this is. I think I need to do a lot more research and look at my options are.
Thank You very much for your reply and information

Please rescind first, so you're not in a rush. There will always be salespeople looking to give you a better deal. Follow the directions in the contract. It's pretty painless actually. Then ignore any calls from unknown numbers. Salespeople have been known to call and try to talk people out of rescinding.

 

[r4rab]

We (wife & I) recently paid about $137/1000 through telesales for a CWA foreclosure contract of 300K points. Gave us permanent VIP Gold (which we wanted to get to, me especially) and temporary Platinum with the bonus points.

I understand sales is putting contracts of $253/1000 in front of people (We had them put in front of us at Governors Green in Williamsburg). This is also the number Wyndham is valuing points at in their NYS filing for CWA in their Amendment 29 to the New York Timeshare Offering Plan for the ClubWyndham Access Vacation Ownership Plan dated June 7, 2019. That said, I'm sure they're selling them at lesser prices on site as well.

Note that if your recent purchase was within 1 year of your initial purchase you should have been guaranteed the same price as your original purchase. I've been told this by multiple salespeople at multiple sites and I remember seeing it in writing in our first contract (and I think in at least one of our subsequent ones).

 

[55plus]

We just spent a few days at Ocean Walk in Daytona. We went to the owner meeting (1st mistake). We where informed of the new point levels that would be coming out and we were sold on buying more points to be grandfathered in at what would be considered silver now but after the changes would require 500,000 points for same benefits.
Now that we are home and I have more time to study the fine print. I have some major concerns.Mainly price of points went way up from our original purchase. We 1st bought into access last yr. with 200,000 points. We doubled and the price almost doubled as well. I wont go into all the gory details of why or how I seemed not to notice this at the time, but it did.
We are still within our resend period. I was just wondering what the average price is being paid for 200,000 points? we will be paying in excess of $15 per thousand. As I said earlier this end up be much more than 1 yr ago.
Thanks in advance for any help or advice, we have 3 more days in our 7 to send a letter.

Rescind! Rescind! Rescind! Rescind before it's to late....

 

[HitchHiker71]

I guess I need to figure out what all the different options are. I did make a typo. We entered into Wyndham last Oct. and purchased 200,000 points for aprox $22,600. They also gave us bonus points to achieve silver status for 2 yrs. We have enjoyed it and very much enjoy the resorts and different locations we can go to. We entered in under Club Wyndham Access. We really haven't looked into or have had any options explained to us.
That being said, while at Ocean Walk we purchased another 200,000 points but we will be paying $33,800 for this allocation of points. So an additional $11,200 in the coarse of 1 Yr, almost to the day. I guess I messed up my math big time earlier. That would be an increase by 1/2 not double, but still pretty hefty. They also gave us additional bonus points this time as well. When in discussions of all this I thought we where going to roll it all up in one contract and go on. That isn't exactly how it went. As I said earlier a big reason for jumping into another 200,000 points was to be grandfathered into the new categories they are coming out with. I forget which one it is, but it would be considered silver now, with the 25% discount. They moved away from the gemstone and metal names and came up with 5 other names.
Anyway, I am flying somewhat blind to what the avg market price for this is. I think I need to do a lot more research and look at my options are.
Thank You very much for your reply and information

If you paid $33,800 for an additional 200k CWA points, that's $169/1000 exactly. That seems a bit high for CWA, which is usually around $150/1000 via telesales, but they will get whatever they can since they start at $253/1000 points which is the MSRP from a negotiation standpoint. Either way, rescind now, and then we can help you to determine the best path forward. The Privileges program hasn't even been officially announced yet, so anything sales tells you is conjecture at this point. Privileges is scheduled for actual implementation in late 2020 best we know, and from what I'm being told, some type of advance announcement will occur to give current owners the ability to make purchase decisions well in advance of the effective date later in 2020.

 

[wynBob]

We just spent a few days at Ocean Walk in Daytona. We went to the owner meeting (1st mistake). We where informed of the new point levels that would be coming out and we were sold on buying more points to be grandfathered in at what would be considered silver now but after the changes would require 500,000 points for same benefits.
Now that we are home and I have more time to study the fine print. I have some major concerns.Mainly price of points went way up from our original purchase. We 1st bought into access last yr. with 200,000 points. We doubled and the price almost doubled as well. I wont go into all the gory details of why or how I seemed not to notice this at the time, but it did.
We are still within our resend period. I was just wondering what the average price is being paid for 200,000 points? we will be paying in excess of $15 per thousand. As I said earlier this end up be much more than 1 yr ago.
Thanks in advance for any help or advice, we have 3 more days in our 7 to send a letter.

Are you sure your original purchase wasn’t an EOY ( every other year)? 22K seems a bit cheap for 200K annual points. The price they quoted for your recent purchase of 200K points sounds more current, though you didn’t indicate whether you did a trade or purchased a second contract. In-House teams typically prefer trades because they can pack the price and charge more per thousand. It’s not as transparent as a second purchase/contract.

The main question I have is do you need the additional points? Or rather, do you want them enough to spend over thirty thousand more, plus doubling your maintenance fee. VIP perks are nice, but upgrades (when available) and a nominal point discount within a certain booking window will never add up to your extra outlay. VIP check in is worthless since Wyndham has as many or more VIP owners as they do regular owners. At some resorts the VIP check in line is longer.

If you have questions or doubts you should rescind. As others have noted you can always upgrade later through telesales, or via resale (sans the VIP status).

 

[kaljor]

As always on questions like this there is only one correct answer. Rescind now, and come back and ask your questions here and you will find the very best way to get what you want. It may take a while because essentially you're doing research, but that's how you avoid being "taken to the cleaners".

Others have said it before me, many times. Any deal you were offered will still be available to you if you want it later. You were smart to post here while you can still cancel. You'll end up with exactly what you want at a better price, and no matter what, you will fully understand all your options.

 

[siftertn101]

Thank You all very much for the replies and advice. I have my rescission letter in hand and headed to the post office to send Certified next day. Will do more research and be more prepared in the future.
sincerely, siftertn101