HELP! Should I buy additional points to go VIP?

[Fitzriley]

I am at Wyndham Kingsgate now. Spent this morning at an owner education meeting, Really a meeting to sell us more points. We own 164,500 converted points, my unit is Bentley Brook, Week 2. so that is my 10 month window. They sold us 154,000 addl Kingsgate points, which brings me over 300,000 and gives me VIP status. We are interested in traveling to Williamsburg every summer and can't get it now for our points. So I think the idea of getting more points is a good one.

The onetime price is $22,000, after an 8800 discount. Throw in an extra 154,000 points for 2 1/2 years which makes us VIP Gold for 2 1/2 years. I can get my week in Wmsburg every summer, and have enough leftover points with VIP to rent a high week somewhere else and let Wyndham rent it for me. I keep 60% of the rental and can cover my maintenance fees with this.

That is the offer. I think I can rescind in 3 days. We are leaving tomorrow to head home, so I need some advice. They actually got us approved on a 0% credit card for the full amount, so no money out yet. I need to sign on the dotted line tomorrow at 8AM. Yes, they let me leave without signing the contract....I had kids at the video room with my sister for hours.

So I need advice quick, is this a good deal, or am I getting suckered? Can I get VIP through resale on Ebay?

Thanks much, sorry this is so long. Please reply to Fitzriley@gmail.com or post here. I am heading out for dinner and will check back in an hour or so for all the words of wisdon I know are coming....


Joan

 

[timeos2]

Absolutely rescind - today

I am at Wyndham Kingsgate now. Spent this morning at an owner education meeting, Really a meeting to sell us more points. We own 164,500 converted points, my unit is Bentley Brook, Week 2. so that is my 10 month window. They sold us 154,000 addl Kingsgate points, which brings me over 300,000 and gives me VIP status. We are interested in traveling to Williamsburg every summer and can't get it now for our points. So I think the idea of getting more points is a good one.

The onetime price is $22,000, after an 8800 discount. Throw in an extra 154,000 points for 2 1/2 years which makes us VIP Gold for 2 1/2 years. I can get my week in Wmsburg every summer, and have enough leftover points with VIP to rent a high week somewhere else and let Wyndham rent it for me. I keep 60% of the rental and can cover my maintenance fees with this.

That is the offer. I think I can rescind in 3 days. We are leaving tomorrow to head home, so I need some advice. They actually got us approved on a 0% credit card for the full amount, so no money out yet. I need to sign on the dotted line tomorrow at 8AM. Yes, they let me leave without signing the contract....I had kids at the video room with my sister for hours.

So I need advice quick, is this a good deal, or am I getting suckered? Can I get VIP through resale on Ebay?

Thanks much, sorry this is so long. Please reply to Fitzriley@gmail.com or post here. I am heading out for dinner and will check back in an hour or so for all the words of wisdon I know are coming....


Joan

VIP isn't worth $1000 much less $22,000! For $22,000 you can buy 2,200,000 resale points and live at Wyndham resorts.

Rescind - now. Buy 150,000 - 200,000 resale points for $2000-$3000 and use them to stay anywhere you want in the FSP system. You DO NOT need VIP to get 99% of resorts/use times in FSP. You are wasting $20,000 if you stay with this "deal" IMO.

 

[vacationhopeful]

If you want ARP at Kingsgate, BUY RESALE Kingsgate for pennies on the point. 154,000 UDI deeded at Kingsgate, with 13 month advanced reservation priority, would cost $1,540 or LESS plus closing costs of less than $500.

Want Bonnet Creek ARP, buy resale Bonnet Creek points. Just a little more expensive at maybe $2,000.

VIP gets you ONE ARP at 11 month point - buy 3 deeds at 3 different resorts for the point value you need to reserve, you get 3 ARP.

The Biggie VIP is the FREE Upgrade in unit size - at 60 day before checkin for Platuim VIP, 45 day for GOLD VIP and 30 day for VIP. There is not any reservation availability ==> there is certainity no FREE upgrade units either. Same is true of the discount at the 60 day mark - Xmas/NY in Orlando was booked 10-12 months before;Thanksgiving at Williamsburg also booked 10+ months out. Summer is always full at the 10 month out - not the 60 day discount window.

And as for booking those great units and renting them out for enough dollars to pay your maintenance fees .... DID THEY PUT THAT in writing, w/o escape clauses. Here on TUGS the line is "Was the timeshare salesman's lips moving?". It is also called "Weasel Speak". I got the same line over the years - buy what you want to use personally.

So RESCIND. NOW. I don't get no commission check on giving you this advice.

 

[moonlightgraham]

I'm kinda amazed we still get these questions on TUG from people who've been members for awhile. A smooth-talking salesperson can confuse and obfuscate what should be a very easy decision.

 

[Kozman]

No VIP for Resale

And, if you decide to sell your contract, it will only be worth ebay prices since resale points cannot be used for VIP purposes. So, your 'investment' will be devalued before the ink is dry!

 

[Fitzriley]

I did not complete the contract and told them I was advised by my accountant not to enter into this. They seemed ok and did not bother me again.


Thanks for the advice.