Did I make a HUGE mistake

[wgriff4129]

Hello all,
My husband and I just visited Big Cedar Premier Wilderness Resort in Branson and were given a presentation about Timeshares. We spoke with them for over two hours and then decided to buy a timeshare. However, after googling numerous reviews about Bluegreen Timeshares, hidden fees on trips, and couples ending up with bad credit we are both scared . . . we made a huge mistake in buying.
We heard great things, of coarse, about the benefits from numerous guests that timeshares were great, especially if you know how to use them and great for the memories you will make with your family.
I would love some feedback from all of you timeshare holders in the pros and cons of owning a timeshare and maybe some advice when and how to use them!
Is it worth it to own these, Please help!

 

[presley]

I don't own bluegreen, but the owners who participate in these types of forums normally like their TS a lot. That being said, look at your contract and follow the directions to cancel your purchase. You can buy resale for a lot less.

here are some current auctions: http://www.ebay.com/sch/i.html?_trksid=p5197.m570.l2632.R2&_nkw=bluegreen&_sacat=15897&_from=R40

 

[DeniseM]

You can buy the same thing on the resale market for pennies on the dollar.

RESCIND NOW, do your homework, and make your decision without any pressure, and on your own terms.

Here is some info. about rescinding - I wrote it for another company, but all the basics apply: http://www.tugbbs.com/forums/showthread.php?t=74493

Get to work on it tonight, and mail it tomorrow - after the deadline, it will be too late!

 

[Passepartout]

Many here like and enjoy their time shares. Just NEVER buy retail. Rescind while you can. Study the options. If it's a good deal, it'll be there in 2 weeks, 2 months, a year. If not you'll save thousand$.

We say, buy where you'll use, buy resale. Be happy. TSs are easy to buy, very hard to sell.

Jim

 

[siesta]

Follow denise's advice to a T, hopefully you are still within the rescission period. You can buy timeshares for pennies on the dollar! Check ebay, you will see timeshares that sold for 10's of thousands going for a few grand, a few hundred, sometimes even $1 !!! Rescind immediately!

 

[wgriff4129]

Thank you ALL SO much! We purchased yesterday and I have my notebook and paper writing my letter ASAP!! Thank you, thank you, THANK YOU!!

 

[Egret1986]

Way to go! Glad you did some research right after the purchase!

You just dodged that bullet. Timeshares can be great! After you get your recsission taken care of, come back and learn about timeshares and determine what will work for you.

 

[LannyPC]

Hello all,
I would love some feedback from all of you timeshare holders in the pros and cons of owning a timeshare and maybe some advice when and how to use them!
Is it worth it to own these, Please help!

Another suggestion to newbies is to consider just renting or, IOW, "try before you buy." Sometimes you can find a rental at a resort you like from an owner for less than what the owner pays in MFs.

Renting has at least a couple other advantages. If you decide that timesharing is no longer your cup of tea, you have the easiest exit strategy available. If you could read the numerous posts on these boards from newbies wondering how to economically get rid of their TS, you'd really understand this point.

Also, if you want to "exchange", just look for a rental at the resort where you want to vacation. Chances are better that you'll find a rental for where and when you want to go than getting an exchange through an exchange company for that same time and place. You'll also save on membership and exchange fees.

Finally, if you want to take a different sort of vacation one year (ie., camping trip, cruise, visit family and friend, etc.), then feel free to do so. you won't have the hassle of trying to rent out your unit in an effort (and usually a futile one at that) to recover your MFs,not to mention the expense and hassle of actually finding a renter.

But, that's just my two cents' worth.

 

[Htoo0]

Totally agree with LannyPC. Not great for those of us who already own but I believe it's very good advice for anyone considering buying a t/s.

 

[theo]

It may have been a mistake, but it's "reversible errror"...

Hello all,
My husband and I just visited Big Cedar Premier Wilderness Resort in Branson...<snip>...and then decided to buy a timeshare. <snip>
....Is it worth it to own these, Please help!

Under applicable Missouri law, you have exactly 5 days to rescind your purchase contract.
Beyond that date, you will own it. Clear and specific instructions on cancellation should have been provided to you, in writing, right along with your contract. These instructions should be followed to the letter.
Don't bother with phone calls or emails; neither has any legal meaning or impact on contract cancellation.

With all due respect, I think that you need to read and learn a whole lot more more before you buy into a timeshare obligation. The good news is that you have found exactly the right place to educate yourself.

Later, if you decide to buy, purchase only in the resale market, at a mere fraction of whatever price you may have hastily agreed to pay via the hungry developer sales weasels on commission at the resort.

Good luck.