Did I mess up?

[Cus310]

Hi everyone,

This is a world I never expected to be a part of. Maybe this will work out; maybe it won’t. I feel like I did when I first bought a car: that I don’t understand all the moving parts and feel very insecure.

But I’m really hoping I can get some clarity as I’m still within the 10-day rescission period for our recent purchase. Please help me understand.

We were sold into the Abound program via Vistana—and promised the entire Marriott network. We have 37K StarOptions annual, 72K Bonus StarOptions, and a single 7night/8day international Interval week (2bd) as incentive for capex of $13,100. Current maintenance is $1,080/year.

We were promised:
1. That 37K annual StarOptions would get us “worst case” a 5night/6day 2-bedroom villa.

2. Use of Interval’s getaway or “cheap week” program as a member of the Vistana network that gives better availability. This was shown to us live and was really hyped up in value.

3. Travel agent service to handle everything with the booking of StarOption points.

4. Combination of my Amex Platinum-provided Bonvoy gold status with now ownership-provided Bonvoy Gold status to equal Platinum Bonvoy status.

My concerns are:
A. I have no idea what actual availability or value of these points is—and how that corresponds to what I paid for them.

B. If the Interval Platinum rates and availability is legit

C. If selling the points back to Marriott is easy


Basically, the pitch was:

“Even if you don’t like it, you’ll get your capex value back just by using the bonus and international Interval week (2bd). And then you can sell the points back to Marriott and, at worst, come out even.”

My wife wanted us to do it under these conditions—and I just am really having a hard time understanding the value of what we bought and if the promises are legit. Please help. Thanks so much.

 

[jp10558]

TUG is going to suggest rescinding till you know what you're doing. Resale is almost always way cheaper to purchase. I'd suggest rescind, spend time on this forum figuring out what you actually want, if anything. I'm pretty sure you can always go back and buy from the salesperson.

 

[dioxide45]

But I’m really hoping I can get some clarity as I’m still within the 10-day rescission period for our recent purchase. Please help me understand.

Why not cancel anyway? It gives you unlimited time to do your research instead of just 10 days.

 

[VacationForever]

You were lied to.
1) 37K annual StarOptions won't get you a studio for a week in peak season. You may get a week in a studio in some of the resorts in low season. Forget about 5 days/6 days in a 2BR with 37K Star Options.

2) II's usage in buying getaway weeks is the same for all brand ownership. Another lie.

3) There is a website for booking, but you can always call but their hours are limited.

4) Pure lie. There is no combining Bonvoy gold with a gold to give you Platinum.

You are right about your concerns.
A) 37K StarOptions is way too little to do anything with it.

B) II Platinum membership is what anyone with II can pay to upgrade to Platinum membership, $500 to $600 add on fees for 5 years. You do not get free platinum II membership with Abound/Vistana. You only get a basic/standard membership account which is included in the club dues that you pay for each year.

C) Marriott does not buy points back from anyone. It is a lie.

Now, go and rescind your purchase. Do your research and buy resale.

 

[Fido Chuckwagon]

But I’m really hoping I can get some clarity as I’m still within the 10-day rescission period for our recent purchase. Please help me understand.

You should rescind immediately. If you really want to own abound points you can get them significantly cheaper (at a price that will still clear ROFR) on eBay.

 

[travel maniac]

My concerns are:
A. I have no idea what actual availability or value of these points is—and how that corresponds to what I paid for them.

B. If the Interval Platinum rates and availability is legit

C. If selling the points back to Marriott is easy


I just am really having a hard time understanding the value of what we bought and if the promises are legit.

Rescind NOW. Listen to your OWN concerns and the detailed and unbiased advise upthread. Follow the directions to rescind properly.

Good luck!

 

[SteveinHNL]

I think the consensus is yes, you messed up. The great news is you found TUG and have time to rescind. Don't let your rescission time pass by, or you will REALLY feel like you messed up. Owning timeshare can be super great if you buy at a fair (resale) price, and it can be a huge anchor or drain on your money if you buy from the developer. The other key to owning timeshare is you must be sure the annual/forever expense is truly with your play-around money, meets your budget super comfortably, and that the kind of travel timeshare facilitates fits your lifestyle. What you want is for you to work your TS to your benefit, not have your TS work you.

 

[Cus310]

Thanks to everyone for your comments and suggestions—and for being kind to a newbie.

As I’m sure you can imagine, the promises were high and pressure from the wife was also high (because of the promises of course). I’ve always stayed far away from these products because I know they are a bad deal, but it’s become more difficult to articulate exactly how (without industry knowledge like myself), given how distorted the offerings have come since just buying a classic week.

The salesperson of course made various claims as to the urgency of the deal. I also found it strange that I could not get any solid answer on what I could actually get with the options. The main selling point actually became the II getaways.

I’ve learned a lot more reading today, but there’s still a lot to figure out. Luckily I learned enough to be able to prove to my wife that we can get the same & better for much less. She seems to have lost some faith in humanity given how nice and genuine the saleswoman was (and herself being an owner).

I’m sending out the rescission letter tomorrow. We actually haven’t signed the closing docs because the “system was down” and they are supposed to be sending a notary to our house later in the week. We just signed the contract to purchase itself. The contract to purchase was with Sheraton Flex Vacations LLC, which at no point was really articulated. We were led to believe we were buying into Abound.

I appreciate everyone reading. If anyone has any additional comments or insights based on my experience above, I’d really appreciate it.

 

[claraj]

@Cus310 I've been able to take advantage of Getaways but they were not for peak travel times (Orlando in October and May and Vail in early December) but all worked out great. The really good deals are usually last minute and disappear quickly. In other words, difficult to take advantage of. They are a great way to supplement ownership of you have the flexibility, but yes I agree that the sales team over sells the Getaways.

 

[elaine]

I’m sending out the rescission letter tomorrow.

Make sure everyone who signed the purchase contract signs recission letter. Also send by certified mail, return receipt. You MUST have proof of mailing within recission period for your records in case there is any issue as to date of mailing. It's VERY important. Be careful to send to address in your documents for cancellation--it's not always the office you were at. I agree with others, take the time to fully research and understand what you are buying 1st (and can likely get for much less via resale market). Good luck!

 

[Tia]

Your lucky to have found this site before it was too late!

Yes sales persons seem genuine, but they are making $$$ off the sale so will tell people anything to get a sale is what I've learned . We had a friend years ago get out of being a real estate person as he said he was tired of lying to people....

..... Luckily I learned enough to be able to prove to my wife that we can get the same & better for much less. She seems to have lost some faith in humanity given how nice and genuine the saleswoman was (and herself being an owner).

I’m sending out the rescission letter tomorrow. We actually haven’t signed the closing docs because the “system was down” and they are supposed to be sending a notary to our house later in the week. We just signed the contract to purchase itself. The contract to purchase was with Sheraton Flex Vacations LLC, which at no point was really articulated. We were led to believe we .....''

 

[Passepartout]

I’ve learned a lot more reading today, but there’s still a lot to figure out. Luckily I learned enough to be able to prove to my wife that we can get the same & better for much less. She seems to have lost some faith in humanity given how nice and genuine the saleswoman was (and herself being an owner).

I’m sending out the rescission letter tomorrow.

Don't bet the farm on the nice saleswoman being an owner. They'll tell you that, but when pressed, it just isn't so.

Stick around TUG. You'll learn a whole lot- like 'Timeshares 101'. The graduate level courses come after you own some low MF week and parlay it into an ocean view condo in Hawaii!

Jim

 

[Cus310]

Don't bet the farm on the nice saleswoman being an owner. They'll tell you that, but when pressed, it just isn't so.

Stick around TUG. You'll learn a whole lot- like 'Timeshares 101'. The graduate level courses come after you own some low MF week and parlay it into an ocean view condo in Hawaii!

Jim

Thank you. My wife is a lot more trusting, and I had to show her a lot to get her to see what actually happened. Luckily she started doing her own research and found out more, so I don't have to deal with it again. What's worse is that I learned we would have bought into what is likely the worst system (Sheraton Flex), when it was sold to us as Abound.

I'm interested in learning more. While I always assumed there was no case where it made any sense to own one, the existence of this forum shows that it can make sense in the right circumstances.

 

[claraj]

While I always assumed there was no case where it made any sense to own one, the existence of this forum shows that it can make sense in the right circumstances.

I also never thought I would own one, but it made sense once my niece and nephew started to get bigger and we needed at minimum, 2 hotel rooms. While I admit I didn't understand everything going in and found Tug too late... I've made it work and am quite happy. Timeshares are not suitable for everyone or family, but can be great if it fits your needs!

 

[TUGBrian]

Congrats on finding TUG in time to rescind and save a fortune!

you will have a much happier start to owning a timeshare now that you have the time and resources to research it and buy exactly what you want on the resale market and use that money you just saved to enjoy YEARS of even better vacations.

 

[grgs]

We were promised:
1. That 37K annual StarOptions would get us “worst case” a 5night/6day 2-bedroom villa.

I agree with what everyone else has said: rescind now and then research to see if a resale option might make sense for you.

Having said that, it is technically possible to reserve a 5 night stay in a 2 bedroom unit in low season. Here's the chart for Westin Kierland:

If you booked Sunday-Thursday nights in the low season (green line) in a 2 bedroom unit, it would be less than 37,000 points. Now whether you want to go to the desert in summer is a different conversation.

 

[VacationForever]

I agree with what everyone else has said: rescind now and then research to see if a resale option might make sense for you.

Having said that, it is technically possible to reserve a 5 night stay in a 2 bedroom unit in low season. Here's the chart for Westin Kierland:

View attachment 94451

If you booked Sunday-Thursday nights in the low season (green line) in a 2 bedroom unit, it would be less than 37,000 points. Now whether you want to go to the desert in summer is a different conversation.

Ah... that would be the "best case" a 5-night stay in a 2BR unit in low season, instead of "worst case" as touted by sales.

 

[zentraveler]

@Cus310 I've been able to take advantage of Getaways but they were not for peak travel times (Orlando in October and May and Vail in early December) but all worked out great. The really good deals are usually last minute and disappear quickly. In other words, difficult to take advantage of. They are a great way to supplement ownership of you have the flexibility, but yes I agree that the sales team over sells the Getaways.

Cus310, don't waste any time thinking about the Getaways or things that are theoretically possible; get out of this commitment while you can and you can take your time figuring the main, important pieces of owning a timeshare, and the smaller details after that. People on TUG are happy to help.

The TS sales people are making their living telling you whatever they need to tell you (she probably figured out what mattered to your wife) so that you will over-pay by tens of thousands of dollars.