Is this true or another lie

[Mjasp]

My friends went to a Wyndham timeshare presentation and they currently own 950k points they own access not a deed.
The rep showed them the real estate timeshare guidelines book and that maintenance fees were going to go up 20% every year.
He told them if they buy a deed it would only go up 5%.
They have no loans and it's paid off and are ready to walk away from it because of the possible 20% raise.
Is this real or just a sales scare tactic
Thank you for your help.

 

[WorldT]

Lol.
If the only owned deeds, the same rep.would show them a book that supposedly says deeded MF will rise by 20% each year while CWA will only rise by 5%.
In other words, the lie will be tailored to fit the circumstances.
RUN!

 

[Free2Roam]

I vote "lie"

 

[dioxide45]

Lie. It doesn't matter what you own; CWA or CWS. They will always say the other one is better for some reason or another.

There is no need to walk away if they don't have a loan. They should contact Wyndham about Certified Exit.

 

[chapjim]

My friends went to a Wyndham timeshare presentation and they currently own 950k points they own access not a deed.
The rep showed them the real estate timeshare guidelines book and that maintenance fees were going to go up 20% every year.
He told them if they buy a deed it would only go up 5%.
They have no loans and it's paid off and are ready to walk away from it because of the possible 20% raise.
Is this real or just a sales scare tactic
Thank you for your help.

It is a blatantly dishonest sales tactic. Access is an aggregation of other resorts. If Access maintenance fees go up by 20%, the maintenance fees at resorts that are part of Access would have to go up by an average of 20%.

Don't abandon the ship because of this.

 

[Floridaman76]

There's some truth to what they say, but the cost to "convert" to a deed will be more than what it is worth to them to do.

They will usually do a "credit swap" giving them credit of what they paid for their points towards the purchase of MORE points, in the process "converting" them to a deed, but they will likely make them buy like 150,000+ points in the process, which is tens of thousands of dollars.

So it usually doesn't make financial sense... it's a known sales tactic, and a scare tactic. ROI is years or decades down the road

Also, depending on what they are selling them, it may or may not even have an ROI.

Basically "the juice isn't worth the squeeze"

 

[rickandcindy23]

CWA is expensive in MF's, but they don't go up nearly that much every year. You can look at the stickies for historical data on increases. Salespeople are liars.

 

[pedro47]

To the OP, was the timeshare lips moving?
Suggestion only please read dioxide45 post, for your answer.

 

[HitchHiker71]

Lie. It doesn't matter what you own; CWA or CWS. They will always say the other one is better for some reason or another.

There is no need to walk away if they don't have a loan. They should contact Wyndham about Certified Exit.

Yup - and if you're a hybrid account owner like me - VIPG with both resale and retail, and both CWA and CWS - they'll tell you how you need to consolidate into only one or the other. Bottom line, it's always FOMO based deceptive sales tactics based upon lies. No one can predict future MF rates, since the local HOAs establish those rates year by year based upon local resort expenses and upkeep, not Wyndham corporate. It's almost laughable whenever I hear that some sales weasel can somehow predict the future for something they have zero responsibility or involvement with.

 

[pgratton]

One of the lying salespersons at Clearwater Beach told me that my Access MF would go up 18-30%!!! He wanted me to switch to a deeded one at Bonnet Creek.....for 80K!!! Yeah right. They are well trained in the art of scare tactics, and thats all that is. Dont fall for it.

 

[Floridaman76]

One of the lying salespersons at Clearwater Beach told me that my Access MF would go up 18-30%!!! He wanted me to switch to a deeded one at Bonnet Creek.....for 80K!!! Yeah right. They are well trained in the art of scare tactics, and thats all that is. Dont fall for it.

And that's crazy because Bonnet Creek MF are almost as high as Access...

 

[BingoBangoBongo]

Sounds like a Chuck McDowell sales presentation

 

[dioxide45]

There's some truth to what they say, but the cost to "convert" to a deed will be more than what it is worth to them to do.

They will usually do a "credit swap" giving them credit of what they paid for their points towards the purchase of MORE points, in the process "converting" them to a deed, but they will likely make them buy like 150,000+ points in the process, which is tens of thousands of dollars.

So it usually doesn't make financial sense... it's a known sales tactic, and a scare tactic. ROI is years or decades down the road

Also, depending on what they are selling them, it may or may not even have an ROI.

Basically "the juice isn't worth the squeeze"

There's no truth the CWA going up 20% and CWS only going up 5%. None. The difference that could be stated is that some CWS deeds have lower maintenance fees per point than CWA.

 

[Floridaman76]

There's no truth the CWA going up 20% and CWS only going up 5%. None. The difference that could be stated is that some CWS deeds have lower maintenance fees per point than CWA.

Well definitely Access doesn't go up 20%, but I think if the idea is having a lower base MF, and it going up at a slower rate, that does mean a very long term ROI. all things equal.

But like I said, the juice isn't worth the squeeze.

The truth is, if they are paying ~$8.75 / 1000 now and it goes up 7%. in 20 years, yes, the OP would in fact be paying a lot more for their ownership vs the same number of points at a lower MF resort. There's no denying that. But if they are trying to sell the OP Bonnet Creek, then no, that's just a complete BS sales tactic LIE.

But after you crunch the numbers, if they were to get into a lower MF resort like National Harbor or Canterbury or Midtown 45, there would eventually be cost savings. But considering how much cash they would need to bring to the table to convert, the break even point is far in the future. And again, not likely worth it.

It's half truths at best. And to be clear i'm not advocating they do this...

 

[Floridaman76]

It's pretty brazen that they are trying to make this sale based on selling deeded at Bonnet Creek... that's unconscionable