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Hi, New to TUG and also new to Timesharing! *Advice needed*

Macc

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Good Morning!

So glad I discovered this forum! I purchased into the Wyndham vacation club program last night, and I have 7 days to decide to cancel so I'm trying to figure out if this is the right thing to invest in or not...

I bought in low, 64k points for 12k, put down 3 and paying 144 monthly. Maintenance fee is 39 bucks. They said my points will give me between 8 and 11 nights in mainly studios but also a one bedroom depending on season. Looking in the book I don't see many studio options! Also, should I buy more points before my 1st year is up (prize freeze at $188/1000pts)?

I was thinking of using the RCI benefit for most stays out the country and last minute deals, and the 64k points for stays in the US. I have one daughter that is 15, and I'm not married.

I have cold feet after skimming through some of the threads so I wanna make sure I know what I'm doing before I'm forced to stay wth it...Is this something I should keep? Are there better alternatives? Should I just continue to vacation as I go?

All feedback is greatly appreciated
 

bizaro86

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Welcome! You should almost certainly rescind that purchase. The same thing can be purchased resale at a fraction of the cost (likely for much less than your $3k downpayment).

Then, stick around with us and learn how it all works. You might still decide to buy a timeshare, but you'll pay way less and get something that's a good fit for you, not just whatever they wer selling that day.
 

Macc

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Bizaro thanks so much! Getting my money back today!!!
 

theo

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I will let you know how it goes
If you follow the rescission (cancellation) instructions precisely, in writing, under signature and in a timely fashion, there is really only one way your cancellation can "go" --- by law. State law provides you with the right to rescind (cancel) -- it is not an option or a choice or some sort of act of kindness or benevolence bestowed by the developer. It's the law.

Btw, despite your stated intent, you will not get your money back "today". In point of fact, it could lawfully take up to 45 days before you actually have your purchase deposit refund firmly in hand.

P.S. Fyi, just for price comparison, within just the past few days there was a 126k Wyndham points ownership (nearly twice the points of the purchase you are rescinding) being offered for free (aside from mandatory $299 Wyndham transfer fee) in the Bargain Deals forum of this site, with maintenance fees supposedly under $700 per year. It was not my offering; I'm merely providing a current point of "value" comparison.
 
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Passepartout

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There is an active resale market where you can get several times the points for a fraction of the buy-in cost. The MF of course is the same, and goes up with the number of points. Other than certainly high end perks, there is no advantage to buying from Wyndham.

Rescind now. Follow the instructions in your contract.

Jim
 

Macc

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Theo and Passepartout

I just read my cancellation rules, must notify in writing and send off in 7 days, I'm drafting my cancellation and gonna mail it priority mail express so that I know it gets to them in time and if I don't see a refund within the time they said (30 days) I will call my credit card company to dispute the charge and have it credited.
 

theo

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Theo and Passepartout

I just read my cancellation rules, must notify in writing and send off in 7 days, I'm drafting my cancellation and gonna mail it priority mail express so that I know it gets to them in time and if I don't see a refund within the time they said (30 days) I will call my credit card company to dispute the charge and have it credited.
I suggest using certified mail, since that avenue will provide you with a date stamped proof of postmark, issued at the USPS counter.

To repeat, it can lawfully take up to 45 days for refund, even if they state a goal of 30 days. Truth to tell, it could take only 2-3 weeks.
 

Macc

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Ok certified mail will do! So glad I don't have to go back through the same sales people
 

theo

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Ok certified mail will do! So glad I don't have to go back through the same sales people
You surely don't need or want any further contact with the sales weasels, but the fact is that they have no authority to rescind the contract anyhow; rescission processing occurs at the corporate (not the resort) level.

You're avoiding making an unnecessarily expensive mistake. Well done.

P.S. Postmark date is what matters --- not the date of later delivery.
 
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rickandcindy23

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You absolutely have to rescind. You have no premium benefits (supposedly benefits you get only from the developer) at all with those points, and you can buy a much larger package of points (also no benefits) for far less money on the resale market.

Welcome to TUG. I wish everyone could find us after signing on the dotted line, but most don't look into it, and some do their research way too late to rescind. You are wise!
 

DeniseM

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After Wyndham receives your letter, you may be contacted by the sales department. Their one and only goal will be to talk you out of rescinding, to save their commission. They are not interested in "helping" you rescind - no matter what they say.

It is not in your best interest to talk to them - the best course of action is to let their calls go to voice mail, and listen to them later.

Keep in mind that the sales department does not handle rescissions, so no matter what they say, their calls have NO IMPACT on your right to rescind. Your right to rescind is established by state law - nothing sales says or does can change that.

Your best course of action is not to have any further contact with them, and patiently wait for the refund.

Good luck!
 

WinniWoman

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Phew! You dodged the bullet!
 

TUGBrian

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not every day someone can find a website that literally saves them 12,000 bucks!

congrats! and welcome!
 

Cheryl20772

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The main reason to rescind is because you didn't make an informed purchase. Once you complete getting this money back, you have plenty of time to study how Wyndham works, how many points you need, what the difference is between resale and retail points, whether you want CWA or CWP or maybe Worldmark. The main benefit of retail points is VIP, which is not contractual, so subject to changes. Resale points work for vacations at resorts the same as retail. Learn what the differences are. It's all in the Member Directory.

After you learn what you want, you shop for it whether retail or resale. You don't get your arm twisted and don't leave the contract signing with a sick feeling in your stomach. Or maybe you will decide owning isn't for you, or that joining a management group like Wynpointvip would work best. You have many options :clap:

Welcome to TUG!
 

skimeup

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Good choice to rescind and another thought

When you look at the catalog of resorts that are supposedly available to obtain when you deposit your points, you may think you could actually obtain a reservation at one of those resorts at a time you would like. Wrong on both counts. You might get to - say - Paris or New York sometime. But likely not at the time you want to go. And you will pay an extra $300 or so for that privilege. I don't know the exact prices, because I'm no longer a member but say $100 to join RCI and another $200 to trade into something you want - if it ever comes up.

If you decide to buy into a timeshare (definitely on the resale market) then buy it somewhere you want to go!
 

linpat

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Recission is good esp since 63K points will get you very little in Wyndham. Look at the TUG marketplace and ebay to get a good idea of how many points you can get for a lot less than $12,000. I've owned with Wyndham for 20 years - and wish TUG had been around then.
 

Macc

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Thank you so much for the outpour of information! I really appreciate it! So I cent the letter via certified mail and now I'm just waiting for my refund.

I attached my American Express card for the monthly payments so once my downpayment is refunded and the cancellation goes through if they don't give me back my payment I will have amex credit it back and block them. Just dont want a negative report on my credit while waiting for them to cancel
 

Macc

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Update!!!

Contract has been rescinded and all monies refunded!!!!!
 

WinniWoman

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Excellent!:clap:
 

TUGBrian

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outstanding...congrats!
 

Macc

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I'm so grateful for this group...THANK YOU! :whoopie:
 
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