Help! Did I get a good deal?

[Tlarimer]

My wife and I recently purchased 126,000 points through Wyndham for a little under 20k. We were told this price point was a great deal but wanted to see how good. Any thoughts?

 

[Passepartout]

If you are within the rescission period, rescind. You can buy many more points for a fraction of the price on the resale market.

Jim

 

[dgalati]

$158 per 1000 points compared to Resale you can purchase 154,000 point deeds for under $1000. There are quite a few listed on the tug market place.

 

[jules54]

Hope you can still rescind. 126,000 points for 20,000.00. You really can't do much with 126,000 points as far as reserving the top resorts during the high season.

 

[BDMX2]

Yes, rescind if you're within the rescission period! Hopefully you're still within the time frame to do so. Then spend some time poking around TUG and you can get an ownership for pennies on the dollar. Thanks to all of the info on TUG, I have 497,000 points that I paid only closing costs and transfer fees for - under $500. If you are patient you can find the right contracts for your needs. Be sure to research the varying MFs at the different resorts and the Club Wyndham Access (CWA) portfolio along with what resort/resorts fit your needs for any advanced booking priority that you might need (i.e. peak times at popular destinations).

 

[Richelle]

Depends on what your needs are. Resale works for a lot of people. If you don’t care about VIP, there is no need to buy direct. You can buy resale and get the same booking benefits with the exception of Club Pass (WorldMark) locations. You need retail bought points for that. You can only book Club Pass 9 months or less from check in. WorldMark Owners can book as early as 13 months. For this reason, the majority of the WorldMark inventory at popular locations is gone, before Club Wyndham Owners even have access to it. If WorldMark is important to you, you’re better off buying a WorldMark contract on eBay. With resale, you don’t get Plus Partners or the ability to convert your points to Wyndham rewards. The conversion rate on both those programs is terrible, so no loss there. VIP is “perceived” value. Sales guys like to tout it as an investment, but the upfront costs are large. In a lot of cases, you can rent from a VIP cheaper then your maintenance fees without the commitment. Speaking of which, don’t forget the monthly maintenance fees. Both resale and retail pay the same monthly maintenance fees (resale only owners pay a slightly cheaper program fee). Those fees almost always go up every year. I don’t think CWA has ever stayed the same or gone down, but someone who owns CWA can correct me if I’m wrong.

You’re best bet in the short term is to rescind, research, and reevaluate. You may find timesharing in general is not right for you. They are best for either long term planners, and or flexible planners. If you book last minute, you will need to be very flexible if you’re booking prime season. You may even find Wyndham is not right for you, and you may find something else that works better for you. Rescind while you can. You only have a short time to do it. It depends on the state. Check your contract for the cancellation clause. Retail will always be there for you. As far as price, telesales is cheaper then that. If you want CWA, they can accommodate at a cheaper price. They even do cash rebates with bonus points.


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[Tlarimer]

If you are within the rescission period, rescind. You can buy many more points for a fraction of the price on the resale market.

Jim

I just spoke with a representative Nd was asking some questions. He told me that with resale points it does not have advanced reservation priority. Is this even a thing or is he justtaloing bs. Also, how do I look for the resale points? Can I still book through RCI and affiliate resorts with Wyndham? I'm still new to this game any help from the experts is greatly appreciated. Thanks

 

[ecwinch]

It is just bs. Points are points... same ARP, and you have the ability to use RCI.

The only material advantage to buying from the developer is the internal Club Pass exchange system (i.e. booking Worldmark resorts), but that benefit is not worth the huge premium you pay vs resale.

Resale points can be purchased on ebay from reputable resellers, and many members that are wanting to get rid of their ownership offer their points here on TUG - sometimes for free.

 

[Tlarimer]

Thanks for all the advice guys. You really saved my arse. We still have 7 days to recind so I will be doing that shortly.

 

[Karen G]

Thanks for all the advice guys. You really saved my arse. We still have 7 days to recind so I will be doing that shortly.

Great! So glad you found TUG in time to rescind. Just be sure to follow the rescission instructions exactly as indicated in all your paperwork. Have everyone who signed the purchase agreement sign the letter. Send it by certified mail so that you have a receipt from the post office showing that you mailed your rescission letter in time. Don't delay and don't talk to the sales team anymore.

Stick around TUG and learn all you can about timesharing. The deal you were offered will still be there if, after doing your research, you still think it's the best thing for you. But, if you let your right of rescission pass, you'll own what you bought whether it's the best you can do or not.

 

[ecwinch]

Thanks for all the advice guys. You really saved my arse. We still have 7 days to recind so I will be doing that shortly.

Don't delay, and here are some tips for rescinding your purchase.

https://www.tugbbs.com/forums/index...our-recent-wyndham-timeshare-purchase.291220/

 

[55plus]

Thanks for all the advice guys. You really saved my arse. We still have 7 days to recind so I will be doing that shortly.

Don't wait, rescind now and send the letter certified mail. Congratulations on saving tens of thousands of dollars.

 

[Grammarhero]

Rescind. You can get 126k annual points for $1,300, maybe even $1,500 in order to avoid Right of Forst Refusal.


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[Grammarhero]

I just spoke with a representative Nd was asking some questions. He told me that with resale points it does not have advanced reservation priority. Is this even a thing or is he justtaloing bs. Also, how do I look for the resale points? Can I still book through RCI and affiliate resorts with Wyndham? I'm still new to this game any help from the experts is greatly appreciated. Thanks

That is $20k worth of BS. Remember the Ts salesman or woman is not your friend. They get six percent commission or $1,200. They are friends with your money.


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[Grammarhero]

Thanks for all the advice guys. You really saved my arse. We still have 7 days to recind so I will be doing that shortly.

Rescind ASAP, preferably tomorrow morning.


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[Grammarhero]

Thanks for all the advice guys. You really saved my arse. We still have 7 days to recind so I will be doing that shortly.

No one is blaming you for buying your first TS retail. Half of tuggers did for their first TS. In fact, 16 days ago before joining TUG, I bought a $4.5k TS. I rescinded the next day based on TUG advice. The same day I rescinded, I got offered the exact same TS for $1.

Think whether TS is right for you. TS is good for people who make TS a hobby, or plan vacations well or In great detail. But if you don’t plan vacations in detail, TS probably is not good for you. You compete against all TS owners for best resorts, dates, and rooms.

Best of luck.


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[Panina]

Hi, welcome to TUG, so glad you found us in time to rescind. Hope you stick around.

 

[dgalati]

Depends on what your needs are. Resale works for a lot of people. If you don’t care about VIP, there is no need to buy direct. You can buy resale and get the same booking benefits with the exception of Club Pass (WorldMark) locations. You need retail bought points for that. You can only book Club Pass 9 months or less from check in. WorldMark Owners can book as early as 13 months. For this reason, the majority of the WorldMark inventory at popular locations is gone, before Club Wyndham Owners even have access to it. If WorldMark is important to you, you’re better off buying a WorldMark contract on eBay. With resale, you don’t get Plus Partners or the ability to convert your points to Wyndham rewards. The conversion rate on both those programs is terrible, so no loss there. VIP is “perceived” value. Sales guys like to tout it as an investment, but the upfront costs are large. In a lot of cases, you can rent from a VIP cheaper then your maintenance fees without the commitment. Speaking of which, don’t forget the monthly maintenance fees. Both resale and retail pay the same monthly maintenance fees (resale only owners pay a slightly cheaper program fee). Those fees almost always go up every year. I don’t think CWA has ever stayed the same or gone down, but someone who owns CWA can correct me if I’m wrong.

You’re best bet in the short term is to rescind, research, and reevaluate. You may find timesharing in general is not right for you. They are best for either long term planners, and or flexible planners. If you book last minute, you will need to be very flexible if you’re booking prime season. You may even find Wyndham is not right for you, and you may find something else that works better for you. Rescind while you can. You only have a short time to do it. It depends on the state. Check your contract for the cancellation clause. Retail will always be there for you. As far as price, telesales is cheaper then that. If you want CWA, they can accommodate at a cheaper price. They even do cash rebates with bonus points.


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I like the part about renting from a VIP cheaper then paying maintenance fees. Lol

 

[dgalati]

It is just bs. Points are points... same ARP, and you have the ability to use RCI.

The only material advantage to buying from the developer is the internal Club Pass exchange system (i.e. booking Worldmark resorts), but that benefit is not worth the huge premium you pay vs resale.

Resale points can be purchased on ebay from reputable resellers, and many members that are wanting to get rid of their ownership offer their points here on TUG - sometimes for free.

Yes free. Some will even pay closing just not to give it back to Wyndham

 

[ecwinch]

I like the part about renting from a VIP cheaper then paying maintenance fees. Lol

As I frequently tell my kids..... comedy is all about repetition..


but then again.... even a good joke can get old after a while.... hint, hint

 

[HitchHiker71]

My wife and I recently purchased 126,000 points through Wyndham for a little under 20k. We were told this price point was a great deal but wanted to see how good. Any thoughts?

In which state did you purchase and on what exact date? Just FYI the rescission period is based upon the state in which you actually purchased and varies widely from 3-15 days. Just want to ensure you are aware of the rescission limits. It should be clearly spelled out on the contract you actually signed but not everyone has an easy time finding their contract given it is often delivered electronically on a tablet. We are all here to help you in any way that we can!


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[CruiseGuy]

Rescind. You can get 126k annual points for $1,300, maybe even $1,500 in order to avoid Right of Forst Refusal.


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I agree rescind. But you should be able to find resale contracts for much less than this. I would look at between half cent to one cent per point, including closing costs. (The highest I've ever paid was $1000 for 154k, and that was at a highly desired resort where ARP is needed and reservations during Prime season are typically gone within a couple hours of the reservation window opening. My most recent contract was free or $1 which they didn't bother collecting.) To the best of my knowledge, Wyndham doesn't exercise right of first refusal, and I don't believe that right exists in most contracts. Other timeshare companies do use ROFR though.

 

[silentg]

Hope you recind?

 

[Grammarhero]

I agree rescind. But you should be able to find resale contracts for much less than this. I would look at between half cent to one cent per point, including closing costs. (The highest I've ever paid was $1000 for 154k, and that was at a highly desired resort where ARP is needed and reservations during Prime season are typically gone within a couple hours of the reservation window opening. My most recent contract was free or $1 which they didn't bother collecting.) To the best of my knowledge, Wyndham doesn't exercise right of first refusal, and I don't believe that right exists in most contracts. Other timeshare companies do use ROFR though.

Thanks for letting me know that Wyndham doesn’t have ROFR. I’ve been confusing Wyndham with BG. I’ve been thinking about a Wyndham Canterbury, but I have to wait a couple of years to see whether it’s right. Kid and all.


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[Richelle]

Rescind. You can get 126k annual points for $1,300, maybe even $1,500 in order to avoid Right of Forst Refusal.


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I’ve never heard of Wyndham doing ROFR except in the case of Presidential reserve. Many here have gotten plenty of time shares for significantly cheaper then that. Even desirable ones.


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