In need of advice please

[MomOf5kids]

My husband and I just purchased the 1500point package at MVC and they sold it to us for $17k and change. This came with the bonuses of Gold Elite Status, Unlimited Getaways, 40k bp, 3000 VCP, free bonvoy week (No Expiration), after 18 months 1500 points, so for 2024-2025 we have a total of 6000VCP
This was done 2 days ago at the Grande Vista in Orlando(which we enjoyed). Should we cancel? After finding(and joining TUG) i am thinking of rescinding.

My family loves to travel. We also have a class rv which we mostly take beach camping here in SoCal. But have yet to venture out farther than Arizona. So the idea of being able to travel farther is what we wanted that’s why we joined mvc. Plus we have four littles(2y,5y,7y,9y) and our son who is in the army, which makes traveling price wise a bit challenging.

Please, I’d like advice on if we should keep it or rescind? Thank you so much!

 

[kozykritter]

Probably best to look at what changes if you rescind and go the resale route. You would keep the Bonvoy Gold status and unlimited getaways (which you pay cash for when you book them regardless of how you purchased your points). Gone would be the Bonvoy and bonus Club Points incentives. Your cost resale for the same 1500 points would likely be around $10,500 after you pay the $3 per point enrollment fee and paid a base price for the points high enough to pass Marriott's right of first refusal (figure on $4 a point for this).

It sounds like you financed the purchase because of those 1500 points they give you after 18 months of making payments. If you do resale, you would have to come up with your own cash to make the purchase so that's a consideration.

You're such a large family that I'm sure you're going to want at least a two bedroom which is generally going to cost significantly more points for a week than the 1500 that you purchased. However once you are a points owner, you can rent points each year from other owners to add to your total and not have to buy more ownership.

Good luck with your decision! You'll see in your paperwork that you have 10 calendar days to rescind and if you do, just follow the instructions listed there as to where you send notice to a particular email address and mailing address and you'll want to do both.

 

[claraj]

I recommend rescinding and getting to know the system from the information here (which you will not easily get from Marriott) and then decide if you want to purchase directly from Marriott or resale. Your other option is to purchase a week via resale to trade in Interval International. If you purchase a 2BR lock-off, you can trade for 2 weeks for 1 maintenance fee. I own points and 2 weeks to trade and learned everything I know from this forum. You are already ahead of the game by asking questions here. Welcome to TUG!

 

[jme]

Relative only to the $17,000 you paid (the rest goes quickly and isn't significant over the long haul),
you could buy two or three, yes even THREE, very nice deeded resale weeks and really enjoy some quality vacations in all kinds of different
locations, whereas now you own 1500 points which get you virtually nothing. 1500 points is not even one top-notch week at a great resort.

Using the points charts, do several hypothetical trips using those 1500 points at locations you'd like to visit, and you'll see what I mean.
1500 points only gets you a few nights a year, and only a full week at a shoulder or off-season week somewhere,
but certainly not what you would want, or what you now "think" you're getting.
So check into what value the 1500 points actually is, and then you'll wish you could use that $17K much more wisely.
If you buy resale weeks, make sure at least one is a lock-off which can be split and turned into 2 weeks.
Everybody has it right....rescind and learn.

 

[Fasttr]

Here is the current year points chart. Don’t think about having 6000 points, as long term, you only have 1500 without spending more.

https://vacationpointexchange.com/pointschart/points_charts_2024.pdf

 

[jwalk03]

You should rescind!

1500 points won’t get you much. And they know that! So then you will come back again and they will sell you again!

You can buy resale for $7/pt all-in instead of $17/pt.

But before you worry about that just rescind what you purchased and then spend some time here learning the system. And learning if timesharing will work for the way you travel. The sales man told you tons of lies I’m sure!

 

[dioxide45]

I have no idea what a "free bonvoy week" even is. I have never heard of this as an incentive to purchase.

 

[TheTimeTraveler]

My husband and I just purchased the 1500point package at MVC and they sold it to us for $17k and change. This came with the bonuses of Gold Elite Status, Unlimited Getaways, 40k bp, 3000 VCP, free bonvoy week (No Expiration), after 18 months 1500 points, so for 2024-2025 we have a total of 6000VCP
This was done 2 days ago at the Grande Vista in Orlando(which we enjoyed). Should we cancel? After finding(and joining TUG) i am thinking of rescinding.

My family loves to travel. We also have a class rv which we mostly take beach camping here in SoCal. But have yet to venture out farther than Arizona. So the idea of being able to travel farther is what we wanted that’s why we joined mvc. Plus we have four littles(2y,5y,7y,9y) and our son who is in the army, which makes traveling price wise a bit challenging.

Please, I’d like advice on if we should keep it or rescind? Thank you so much!

Definitely RESCIND. If you're questioning your purchase now then rescinding is the way to go. Remember, you only have "X" amount of days where you can legally weasel out of your purchase without any penalty.

Study up and do your homework to determine your next steps. Remember, you can always go back to Marriott and purchase again should you find you really want to.

My recommendation is to purchase resale. My preference is to buy a resale week as the annual carrying costs are far lower than owning points. Granted, you don't have the flexibility of points but you don't have their high maintenance costs either. With weeks you can use Interval International as your trading partner.

Welcome to TUG and best of luck!







.

 

[dioxide45]

It sounds like you financed the purchase because of those 1500 points they give you after 18 months of making payments. If you do resale, you would have to come up with your own cash to make the purchase so that's a consideration.

IMO, if you are having to finance the purchase, it simply isn't something they should be buying. The point incentive for this is just terrible. The amount of interest paid is far more than you can just go out and rent the same number of points for.

 

[claraj]

I completely agree with @dioxide45. It's my opinion that timeshares aren't something that should be financed.

 

[jp10558]

And while everyone else here is making cases about what to do Re MVC / Marriott and financing timeshares - I'm going to strongly suggest you look into other systems. IDK what your yearly MF was on what they sold you, but you can get enough points in other systems for a nice 2BR in most locations for a week for less than the $10,500 up front. HGVC would run about $6k, Wyndham would run ~$2k and sometimes you can pick up good stuff for free in the forum on TUG. I just got a 2BR Fox Run that's likely to be a good trader in II for free.

So I would have to REALLY REALLY want MVC vs any other system to put in $10,500 resale for one good week up front.

 

[GTLINZ]

Rescind while you can (run, Forest, run!). That is almost always true for any developer purchase.

 

[MomOf5kids]

I have no idea what a "free bonvoy week" even is. I have never heard of this as an incentive to purchase.

They said we get a free week stay “anywhere”

 

[MomOf5kids]

IMO, if you are having to finance the purchase, it simply isn't something they should be buying. The point incentive for this is just terrible. The amount of interest paid is far more than you can just go out and rent the same number of points for.

We did refinance but we planned on paying it off after getting the 18 months 1500 bonus points.

 

[MomOf5kids]

Holy moly the information and feedback here is AMAZING. I am for sure of one thing, I’m not regretting joining TUGs. Well, now I’ve gotta sit down with husband and rescind today. Does anyone have info with how I can go about this though? Thank you all again.

 

[jwalk03]

Holy moly the information and feedback here is AMAZING. I am for sure of one thing, I’m not regretting joining TUGs. Well, now I’ve gotta sit down with husband and rescind today. Does anyone have info with how I can go about this though? Thank you all again.

There are instructions in your contract on how to rescind.

Basically you just need to send a simple letter to the address specified. Can be as simple as:

We wish to rescind contract #XXX purchased on MM/DD/YY.

Signed,
Everyone that signed the contract.


Send it certified mail so you have proof of postmark prior to the deadline. No need to pay for overnight service or anything like that as it doesn't matter when they receive it. Only that you mailed it prior to the deadline. It may take 30-60 days but you will get a refund to the original form of payment and the contract will be cancelled.

Your sales person may try and call you to talk you out of rescinding. Just ignore the call if so. Nothing good will come from speaking to them again and giving them another chance to sell you.

 

[MomOf5kids]

There are instructions in your contract on how to rescind.

Basically you just need to send a simple letter to the address specified. Can be as simple as:

We wish to rescind contract #XXX purchased on MM/DD/YY.

Signed,
Everyone that signed the contract.


Send it certified mail so you have proof of postmark prior to the deadline. No need to pay for overnight service or anything like that as it doesn't matter when they receive it. Only that you mailed it prior to the deadline. It may take 30-60 days but you will get a refund to the original form of payment and the contract will be cancelled.

Thank you!

 

[claraj]

I have no idea what a "free bonvoy week" even is. I have never heard of this as an incentive to purchase.

Last November I was offered via email, "Additional Bonus week in a 2 Bedroom Villa at any Marriott Vacation Club with No Expiration Date." if I purchased 2,000 MVC points and it came with 5,000 bonus MVC points. I did not ask about the details of the additional bonus week since I was not interested in purchasing. I wonder if it was a similar bonus.

 

[dioxide45]

Holy moly the information and feedback here is AMAZING. I am for sure of one thing, I’m not regretting joining TUGs. Well, now I’ve gotta sit down with husband and rescind today. Does anyone have info with how I can go about this though? Thank you all again.

Look through your contract. Probably on a thumbdrive that they gave you. The contract may actually be missing important information like the email address or physical address of where to send the rescission. If so, this thread might help;

questions about rescission process

Good morning, I know that I have 10 days from sale to send the rescission letter, but I have several questions: We purchased one week ago today in Florida 1. what address do I send the letter to ? 2. My wife and I will both sign the letter. Does it need to be notarized? 3. Should I send...

tugbbs.com

If your contract is missing the important details as indicated in post #6 of that other thread, let us know. Trying to track the patterns of bad behavior of Marriott Vacations.

 

[MomOf5kids]

Look through your contract. Probably on a thumbdrive that they gave you. The contract may actually be missing important information like the email address or physical address of where to send the rescission. If so, this thread might help;

questions about rescission process

Good morning, I know that I have 10 days from sale to send the rescission letter, but I have several questions: We purchased one week ago today in Florida 1. what address do I send the letter to ? 2. My wife and I will both sign the letter. Does it need to be notarized? 3. Should I send...

tugbbs.com

If your contract is missing the important details as indicated in post #6 of that other thread, let us know. Trying to track the patterns of bad behavior of Marriott Vacations.

Thank you for this! Sending it via email AND certified mail.

 

[LeslieDet]

If your contract is missing the important details as indicated in post #6 of that other thread, let us know. Trying to track the patterns of bad behavior of Marriott Vacations.

"Bad behavior"? Really? How about crappy IT and failure of a sales office to proofread or insert the correct info? When the thumb drive has failed to correctly merge the info for the identification of where the rescission notice should be sent, that isn't "bad behavior", it is sloppiness or carelessness by the sales team and closer. If any buyer has the defective info on the thumb drive they were given, and that buyer wants to rescind but can't do it timely because the info was missing, the company isn't going to be able to enforce the time limit. The notice is statutorily required. Failure to provide the details required makes that notice legally defective.

 

[dioxide45]

"Bad behavior"? Really? How about crappy IT and failure of a sales office to proofread or insert the correct info? When the thumb drive has failed to correctly merge the info for the identification of where the rescission notice should be sent, that isn't "bad behavior", it is sloppiness or carelessness by the sales team and closer. If any buyer has the defective info on the thumb drive they were given, and that buyer wants to rescind but can't do it timely because the info was missing, the company isn't going to be able to enforce the time limit. The notice is statutorily required. Failure to provide the details required makes that notice legally defective.

I say it is bad behavior because they haven't taken any action to fix it. We have seen several reports of this already. Sure, it is bad IT, or human error. Do they know about it? Maybe, maybe not. But they aren't doing what they are legally required to do. I would suspect it would require getting an attorney involved to push back on the defective notice if you tried to rescind outside the window because of the issue. They wouldn't just fold on that one all that easily.

It could also be that the information was in the contract on the tablet when the purchaser signed it. Does that fulfill the delivery requirement? I'm not sure.

 

[LeslieDet]

I say it is bad behavior because they haven't taken any action to fix it. We have seen several reports of this already. Sure, it is bad IT, or human error. Do they know about it? Maybe, maybe not. But they aren't doing what they are legally required to do. I would suspect it would require getting an attorney involved to push back on the defective notice if you tried to rescind outside the window because of the issue. They wouldn't just fold on that one all that easily.

It could also be that the information was in the contract on the tablet when the purchaser signed it. Does that fulfill the delivery requirement? I'm not sure.

If anyone is having that issue, they need to report it to MVC. If no one reports the flaws/failure to merge accurately, then how is the company going to fix it? Location of the sales offices where it is happening would be a great start. This is a large publicly traded company. MVW isn't trying to purposefully hide the rescission language to keep a buyer from rescinding. I'm guessing it is user error (the user being the most likely lowly paid staffer in the sales office who is in charge of inserting the details into the contract and then uploading that to the thumb drive).

And, I disagree with you that it would require the prospective buyer hiring counsel. What would be required is the prospective buyer who intends to rescind documenting the timeframe that they attempted to submit the rescission info, and found gobblygook instead of the correct address. Document the time/date. Take a screenshot. Call the sales director of the location where the buyer signed the documents and received the defective thumb drive.

 

[dioxide45]

If anyone is having that issue, they need to report it to MVC. If no one reports the flaws/failure to merge accurately, then how is the company going to fix it?

In the end, it is up to the developer to make sure the contract is correct, accurate and includes the information they are obligated to deliver. If they get it wrong, they dropped the ball. I doubt it is intentional, but it shouldn't be up to customers to report the issue. They should be discovering these things through their internal testing and quality checks. I would think a certain percentage of closed contracts go through a QC check to make sure they are following the letter of the law. If they aren't, then they are also doing something wrong.

 

[LeslieDet]

In the end, it is up to the developer to make sure the contract is correct, accurate and includes the information they are obligated to deliver. If they get it wrong, they dropped the ball. I doubt it is intentional, but it shouldn't be up to customers to report the issue. They should be discovering these things through their internal testing and quality checks. I would think a certain percentage of closed contracts go through a QC check to make sure they are following the letter of the law. If they aren't, then they are also doing something wrong.

I actually had a conversation with someone at the advocate's office about this topic a couple of months ago, and was advised that IT had not been able to replicate the problem. They tested the process and could not replicate the errors being reported. The company would need details as to the sales offices where the errors are happening. The company absolutely understands that it is required to deliver accurate info. If there are problems, the company needs to be advised in order to fix it, if in their testing it all appears to be accurate. Human error happens. Whether it is a training issue or an uploading error or whatever, I simply do not know. I am just saying it is silly to characterize these instances as being "bad behavior". When I had corporate clients, legal always wanted to fix errors in customer interactions. But if they don't know there is a problem, they can't fix it.

I will add that I've found various typos on the owner website over the years, and have reported them to the advocate's office and they have thanked me for the info, and corrected the typo. I'd rather see accurate info than errors, that is why I report them. For example, there was a place that still referred to the BonVoy exchange of 40:1 (for Trust Points) at the original rate of 25:1. When the date changed on the MVC side for owners to turn Trust Points into BonVoy points, there were various places that still used the 9 months from end of use year wording instead of the updated deadline. Yes, it was sloppy on the company's part, but I'd rather see accurate info for all owners, than believe that the company is engaging in "bad behavior". Typos happen. Proofreading takes a human being, not everything can be automated.