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Help!!! Did I make the wrong decision?

mb1987

newbie
Joined
Oct 2, 2020
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My wife and I love to travel (cruises, weekend trips etc.) but we have also taken 3-4 vacation package trips for (pay ex amount of money, take a tour, get money back etc.). We have never bought anything and always said that we wouldn't purchase, just thought of it as a cheap way to travel. However....here we are at Myrtle Beach currently and we just purchased through Holiday Inn Vacation Club. The guy we had was the best we've ever had and it was the first time we have half-way even thought about purchasing. As soon as he noticed we were thinking about it he got his boss and before I knew it my wife and I were signing paper work because they "made it fit what we could afford"..ugh!! We were excited at first because they made everything sound great. They even showed us how to use RCI and how to pay money to use the last chance options that pop up for full week stays. However, I thought the points shown in the booklet were for a full stay and not per night, and they didn't correct my thinking during the presentation either when I told my wife this. The package we got was a little over $11,000 for 50,000 points and then they gave us a free 50,000 bonus points. We paid 328 down and have until December to pay the rest of the downpayment (We could've paid it today, but felt better not paying at once since they offered.....again, "making it fit what we could afford", especially since we're on vacation). I haven't felt right since signing and have been reading on timeshares now for at least the past two hours. I'm thinking about doing the rescission letter (need directions on doing so). Should I do the letter or should I keep the timeshare? My wife is sound asleep but I'm up worried thinking we made the wrong decisions. What they made sound soooo good, I'm now worried because I've noticed that 50,000 points won't even get me that much vacation time, even traveling during the week and off season. And then throw in the maintenance fee of 400 some a year, and the other 136 fee a year for "agents" and it causes some uneasiness. The monthly charge isn't a burden at all but looking at the total picture and what we end up paying total, I'm just don't feel 100% comfortable yet. Again, we just signed on Oct. I'm seeking advice, comments, concerns, any kind of help at this point. We're new to this and so I want to get out while I can or know that I made a good decision. Thanks in advance!!
 

R1964

TUG Member
Joined
Oct 6, 2017
Messages
290
Reaction score
107
Points
153
Resorts Owned
Royal Holiday Club
Rescind. Write and letter rescinding check your contract as to where to send the letter make copies of it send certified mail return receipt. I would stay away from the sales office because they will try and talk you out of it. You could let them (the sales office) know you are rescinding and give them a copy and get them to sign your copy that they accepted it but still mail the letter to the address on the contract. Do some research and buy a resale for pennies on the dollar. In SC you have 5 days to rescind from the date you signed the contract so act quickly.
 

TheTimeTraveler

TUG Member
Joined
Jan 23, 2008
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Florida
RESCIND IMMEDIATELY while you still have the legal opportunity.

Do your homework on Timeshares. Keep in mind that the same deal will always be available should you decide to buy there again, but I'm confident that you will not want to do that after you've found that resales can be purchased for just pennies on the dollar.

You worked hard for that $11,000. Get it back now while you still can!


.
 

Passepartout

TUG Review Crew: Veteran
TUG Member
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Twin Falls, Eye-Duh-Hoe
I'll add to the chorus: RESCIND! Do it today. Keep is simple, just a signed letter from both of you saying you wish to cancel this purchase at this time. No reason need be given. DO NOT return to the sales center, mail it Certified to the address in your contract along with a COPY of the signature page.

Then hang around TUG, learn about TS. You'll find any number of ownerships for free, and EVERY RCI or II membership comes with those Last Call weeks for small cash.

Jim
 

Iggyearl

TUG Member
Joined
Dec 26, 2014
Messages
808
Reaction score
990
Points
203
Location
Ballston Lake, NY
Absolutely rescind. If you really want to own a timeshare, Tug people are the ones to teach you. And maybe HICV is not the system that is best suited to you. You met a great salesman and you bought what he wanted to sell you. Many, many timeshare contracts are sold as "entry" packages. You buy what seems like a good deal. The price is right. But, the actual amount of points is not enough to enjoy the system. You then complain - and SURPRISE - you need to buy more points. Step back. Rescind. Then study, and buy what you know will work for you.
 

Grammarhero

Official TUGBBS Rescission Master
TUG Lifetime Member
Joined
Jun 9, 2019
Messages
3,086
Reaction score
2,486
Points
399
Location
Washington, DC Area
Resorts Owned
Wyndham Grand Desert 77k, VV Williamsburg 4L/4 & 2/2
Former: Wyndham 276k, HGVC South Bend 1/1
My wife and I love to travel (cruises, weekend trips etc.) but we have also taken 3-4 vacation package trips for (pay ex amount of money, take a tour, get money back etc.). We have never bought anything and always said that we wouldn't purchase, just thought of it as a cheap way to travel. However....here we are at Myrtle Beach currently and we just purchased through Holiday Inn Vacation Club. The guy we had was the best we've ever had and it was the first time we have half-way even thought about purchasing. As soon as he noticed we were thinking about it he got his boss and before I knew it my wife and I were signing paper work because they "made it fit what we could afford"..ugh!! We were excited at first because they made everything sound great. They even showed us how to use RCI and how to pay money to use the last chance options that pop up for full week stays. However, I thought the points shown in the booklet were for a full stay and not per night, and they didn't correct my thinking during the presentation either when I told my wife this. The package we got was a little over $11,000 for 50,000 points and then they gave us a free 50,000 bonus points. We paid 328 down and have until December to pay the rest of the downpayment (We could've paid it today, but felt better not paying at once since they offered.....again, "making it fit what we could afford", especially since we're on vacation). I haven't felt right since signing and have been reading on timeshares now for at least the past two hours. I'm thinking about doing the rescission letter (need directions on doing so). Should I do the letter or should I keep the timeshare? My wife is sound asleep but I'm up worried thinking we made the wrong decisions. What they made sound soooo good, I'm now worried because I've noticed that 50,000 points won't even get me that much vacation time, even traveling during the week and off season. And then throw in the maintenance fee of 400 some a year, and the other 136 fee a year for "agents" and it causes some uneasiness. The monthly charge isn't a burden at all but looking at the total picture and what we end up paying total, I'm just don't feel 100% comfortable yet. Again, we just signed on Oct. I'm seeking advice, comments, concerns, any kind of help at this point. We're new to this and so I want to get out while I can or know that I made a good decision. Thanks in advance!!
Rescind as you can buy for $1. Look for the exact address in your paperwork. I have only the exact address for holiday inn TS purchased in SC.
 

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rickandcindy23

TUG Review Crew: Elite
TUG Member
Joined
Jun 6, 2005
Messages
31,901
Reaction score
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Points
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Location
The Centennial State
Resorts Owned
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge,Shadow Ridge,Grand Chateau;Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms; WKORV-OF (2),Westin Desert Willow.
I am sure this salesperson was nice. But you need to rescind. The actual value of a timeshare, especially the Holiday Inn system, is much less than what you pay for developer prices.

I don't know the Holiday Inn system at all, but I know there are better systems. I don't love RCI, that is one thing that would be a turnoff for me. I would rather buy something that trades in II. We own in a lot of systems and know more than most. I know enough to be dangerous, as my husband reminds me all of the time. ;)
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,508
Reaction score
4,392
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
My wife and I love to travel (cruises, weekend trips etc.) but we have also taken 3-4 vacation package trips for (pay ex amount of money, take a tour, get money back etc.). We have never bought anything and always said that we wouldn't purchase, just thought of it as a cheap way to travel. However....here we are at Myrtle Beach currently and we just purchased through Holiday Inn Vacation Club. The guy we had was the best we've ever had and it was the first time we have half-way even thought about purchasing. As soon as he noticed we were thinking about it he got his boss and before I knew it my wife and I were signing paper work because they "made it fit what we could afford"..ugh!! We were excited at first because they made everything sound great. They even showed us how to use RCI and how to pay money to use the last chance options that pop up for full week stays. However, I thought the points shown in the booklet were for a full stay and not per night, and they didn't correct my thinking during the presentation either when I told my wife this. The package we got was a little over $11,000 for 50,000 points and then they gave us a free 50,000 bonus points. We paid 328 down and have until December to pay the rest of the downpayment (We could've paid it today, but felt better not paying at once since they offered.....again, "making it fit what we could afford", especially since we're on vacation). I haven't felt right since signing and have been reading on timeshares now for at least the past two hours. I'm thinking about doing the rescission letter (need directions on doing so). Should I do the letter or should I keep the timeshare? My wife is sound asleep but I'm up worried thinking we made the wrong decisions. What they made sound soooo good, I'm now worried because I've noticed that 50,000 points won't even get me that much vacation time, even traveling during the week and off season. And then throw in the maintenance fee of 400 some a year, and the other 136 fee a year for "agents" and it causes some uneasiness. The monthly charge isn't a burden at all but looking at the total picture and what we end up paying total, I'm just don't feel 100% comfortable yet. Again, we just signed on Oct. I'm seeking advice, comments, concerns, any kind of help at this point. We're new to this and so I want to get out while I can or know that I made a good decision. Thanks in advance!!
Rescind and rescind the correct way. Do not go to the sales office. Whoever signed the contract has to sign the rescission letter. So if both you and your wife signed then both you and your wife must sign the rescission letter. Also you must send it certified mail and have it post marked by the date specified on the contract. Make sure you send it to the correct address as well. DO NOT contact the sales office and if you see them, smile, wave and tell them how excited you are you purchased.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,508
Reaction score
4,392
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
My wife and I love to travel (cruises, weekend trips etc.) but we have also taken 3-4 vacation package trips for (pay ex amount of money, take a tour, get money back etc.). We have never bought anything and always said that we wouldn't purchase, just thought of it as a cheap way to travel. However....here we are at Myrtle Beach currently and we just purchased through Holiday Inn Vacation Club. The guy we had was the best we've ever had and it was the first time we have half-way even thought about purchasing. As soon as he noticed we were thinking about it he got his boss and before I knew it my wife and I were signing paper work because they "made it fit what we could afford"..ugh!! We were excited at first because they made everything sound great. They even showed us how to use RCI and how to pay money to use the last chance options that pop up for full week stays. However, I thought the points shown in the booklet were for a full stay and not per night, and they didn't correct my thinking during the presentation either when I told my wife this. The package we got was a little over $11,000 for 50,000 points and then they gave us a free 50,000 bonus points. We paid 328 down and have until December to pay the rest of the downpayment (We could've paid it today, but felt better not paying at once since they offered.....again, "making it fit what we could afford", especially since we're on vacation). I haven't felt right since signing and have been reading on timeshares now for at least the past two hours. I'm thinking about doing the rescission letter (need directions on doing so). Should I do the letter or should I keep the timeshare? My wife is sound asleep but I'm up worried thinking we made the wrong decisions. What they made sound soooo good, I'm now worried because I've noticed that 50,000 points won't even get me that much vacation time, even traveling during the week and off season. And then throw in the maintenance fee of 400 some a year, and the other 136 fee a year for "agents" and it causes some uneasiness. The monthly charge isn't a burden at all but looking at the total picture and what we end up paying total, I'm just don't feel 100% comfortable yet. Again, we just signed on Oct. I'm seeking advice, comments, concerns, any kind of help at this point. We're new to this and so I want to get out while I can or know that I made a good decision. Thanks in advance!!
Did you send the letter yet??
 

dayooper

TUG Review Crew
TUG Member
Joined
Apr 14, 2018
Messages
3,945
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Location
The Land of Ice and Snow
Resorts Owned
HGVC: The Flamingo, The Boulevard
Rescind and buy resale Send that letter before it’s too late.
 

mb1987

newbie
Joined
Oct 2, 2020
Messages
2
Reaction score
12
Points
3
Hey everyone, my wife and I got home Sunday and we mailed the letter yesterday morning so that it was postmarked within the 5 day period and sent it certified. After reading forums here and searching the web, what they made seem like was a really good offer wasn't at all.

THANKS SO MUCH for your advice.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,508
Reaction score
4,392
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Hey everyone, my wife and I got home Sunday and we mailed the letter yesterday morning so that it was postmarked within the 5 day period and sent it certified. After reading forums here and searching the web, what they made seem like was a really good offer wasn't at all.

THANKS SO MUCH for your advice.
No problem. It is customary to send us a check for half the amount Saved. Let me know when you’re ready to send the check and I’ll send My mailing address. No need to send the check certified, priority mail is A-OK lol.
 

CPNY

TUG Member
Joined
Jun 18, 2019
Messages
7,508
Reaction score
4,392
Points
349
Resorts Owned
Harborside Resort at Atlantis
SVV - Key West/Bella
WKV
Regal Vista at Massanutten
Hey everyone, my wife and I got home Sunday and we mailed the letter yesterday morning so that it was postmarked within the 5 day period and sent it certified. After reading forums here and searching the web, what they made seem like was a really good offer wasn't at all.

THANKS SO MUCH for your advice.
If you want Myrtle beach look for another system. You can get into ownership very inexpensively. Marriott and Sheraton would be great interval traders, or buy a points program ownership
 

silentg

TUG Review Crew: Expert
TUG Member
Joined
Jul 17, 2005
Messages
6,185
Reaction score
3,260
Points
649
Location
Central Florida
Resorts Owned
Fitzpatrick's Castle Holiday Homes,
Enchanted Isle.
We own HIVC in Orange Lake we have stayed at the HIVC in Myrtle Beach. It’s very nice but not worth 11,000
You can buy a resale there for much less and have more points. HIVC gave everyone 50,000 points this year but we had to use them by December 31,2020 couldn’t use them in RCI or IHG. So we used them at Orange Lake.
Good Luck, I hope you find a timeshare that is better priced. I agree with other TUG members, look on Marketplace, try renting, see if you like it before you buy.
 

bogey21

TUG Member
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Fort Worth, Texas
Rescind and rescind the correct way. Do not go to the sales office. Whoever signed the contract has to sign the rescission letter. So if both you and your wife signed then both you and your wife must sign the rescission letter. Also you must send it certified mail and have it post marked by the date specified on the contract. Make sure you send it to the correct address as well. DO NOT contact the sales office and if you see them, smile, wave and tell them how excited you are you purchased.

Follow this exactly. (1) both must sign; (2) send Certified in timely manner; and (3) send it to the correct address. Don't improvise; Don't deviate from above. Do exactly this and you will be fine...

George
 
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