Looking to give back timeshare / Vistana/Marriott

[Talyn23]

I am brand new to this all but am desperate on some advice/help please.

We got coaxed into purchasing a Vistana timeshare exactly a year ago and were BS’d the entire process. I tried to cancel in the 10 day window but they waved an upgrade and free week in my face to get us to stay. Keep in mind we weren’t even told about the 10 day window in the sales presentation, or closing. Day 12 I called to cancel and we were out of our recession. We have not even used the timeshare the whole year. We do not want it or want to pay for it any longer realizing it was a mistake on our end with so many limits to where we can travel and when.
My question is how can we get rid of this? They have a deed-back but can we use that if we’ve only been paying on it for a year? We obv still owe. I haven’t missed any payments, maintenance dues are UTD. Just really looking for a way out that won’t trash my credit. Any advice is much appreciated. Thank you.

 

[CalGalTraveler]

Welcome to TUG. Do you have a mortgage on this unit? If so you need to pay it off before you sell or return it. Otherwise you can walk but that will have a high likelihood of trashing your credit.

What exact unit do you own? Resort, season Room type?

Can you rent it out until it is paid off to cover the annual maint fees and mortgage?

 

[dioxide45]

Do you not travel? Certainly you saw some value in it, enough to sign on the dotted line. At this point it is either default and let them foreclose (credit ramifications included) or learn how to use it and maximize your ownership to take vacations.

 

[Talyn23]

It is not paid off unfortunately. We’ve only had it one year. We do travel but just not this way. It’s a Vistana ownership. Sheraton flex, Vistana, etc.
I don’t want to trash our credit so I guess we are stuck with it. I have no idea how to rent it out. Honestly don’t know much about using it either to be honest. Just 350/mo plus $1400 maintenance isn’t what we’re wanting anymore. I know before anyone comes for me “we signed up and are stuck based off our decision” we know! The guy was a great sales guy.

 

[Talyn23]

Welcome to TUG. Do you have a mortgage on this unit? If so you need to pay it off before you sell or return it. Otherwise you can walk but that will have a high likelihood of trashing your credit.

What exact unit do you own? Resort, season Room type?

Can you rent it out until it is paid off to cover the annual maint fees and mortgage?

How do you rent it out? I have no idea how all of it even works tbh.

 

[trexmdr]

You keep referring to it. Exactly what is “it” that you own. Perhaps I missed it and I’ll reread your posts.
Believe me, and I’m talking from experience, the people in this group will give you the best advice and help you through. You may have to make some hard decisions but you have options and you’ll find them here.

 

[LeslieDet]

It is not paid off unfortunately. We’ve only had it one year. We do travel but just not this way. It’s a Vistana ownership. Sheraton flex, Vistana, etc.
I don’t want to trash our credit so I guess we are stuck with it. I have no idea how to rent it out. Honestly don’t know much about using it either to be honest. Just 350/mo plus $1400 maintenance isn’t what we’re wanting anymore. I know before anyone comes for me “we signed up and are stuck based off our decision” we know! The guy was a great sales guy.

You need to learn how to use your Sheraton Flex -- go to the Dashboard and use the educational resources. If you fail to pay the loan, that is no different than failing to pay a mortgage on your home, and it will impact your credit. If you fail to pay the maintenance fees, then the ownership will not be able to be used, but it still needs to be paid for. At a minimum, you can get something out of it by using it to take vacations. But it is up to you to figure out how to use it by using the resources available to you.

 

[Talyn23]

You keep referring to it. Exactly what is “it” that you own. Perhaps I missed it and I’ll reread your posts.
Believe me, and I’m talking from experience, the people in this group will give you the best advice and help you through. You may have to make some hard decisions but you have options and you’ll find them here.

I appreciate that. I mean ownership when I say it. We purchased points that regenerate every year. 56,300 to be exact. To use on Vistana with Sheraton flex etc

 

[CalGalTraveler]

Search TUG for "How to rent your timeshare." You will need to follow @LeslieDet advice on "How to use your timeshare" to book a good Sheraton rental week when the booking window opens. Think Sheraton Steamboat ski week, or Sheraton Desert Oasis for MLB baseball spring training or other event weeks you can book with flex to earn highest rent to pay off your unit faster.

Good luck

 

[Talyn23]

Search TUG for "How to rent your timeshare." You will need to follow @LeslieDet advice on "How to use your timeshare" to book a good Sheraton rental week when the booking window opens. Think Sheraton Steamboat ski week, or Sheraton Desert Oasis for MLB baseball spring training or other event weeks you can book with flex to earn highest rent to pay off your unit faster.

Good luck

Thank you very much

 

[HudsHut]

@Talyn23

Welcome to TUG.

There is another thread similar to yours in that the person who posted is new to Sheraton Flex. There were several informative posts there that will help you get started.

MVC/Sheraton: Completely Lost Newbie

I purchased Marriott/Sheraton Vacation Club last April (I listed both brands because it all seems to be tied together somehow). I can't figure out how any of it works. I have Flex Points (which I think are StarOptions) and Club Points. Some of them are listed as bonus, some are banked. I am...

tugbbs.com

You need to search for a reservation. See what is available. Where might you want to go. Or select a high-demand date and start learning how to rent.

Come back to ask questions. We can help you understand your ownership and make the best of it.

---
TUGgers - I am not familiar with Sheraton Flex

Does @Talyn23 need to be aware of banking deadlines (like June 30, 2024?)

 

[GerryWA]

It is not paid off unfortunately. We’ve only had it one year. We do travel but just not this way. It’s a Vistana ownership. Sheraton flex, Vistana, etc.
I don’t want to trash our credit so I guess we are stuck with it. I have no idea how to rent it out. Honestly don’t know much about using it either to be honest. Just 350/mo plus $1400 maintenance isn’t what we’re wanting anymore. I know before anyone comes for me “we signed up and are stuck based off our decision” we know! The guy was a great sales guy.

It easy to rent on Redweek. Look at redweek.com

 

[rickandcindy23]

This was an expensive lesson for you. I am sure you regret your choice, but to get out of it requires some action on your part. I am so sorry you are going through this.

 

[Talyn23]

This was an expensive lesson for you. I am sure you regret your choice, but to get out of it requires some action on your part. I am so sorry you are going through this.

You’re absolutely right, it really was. So is there ways to get out? Or you mean rent to pay it off quicker etc? Any of those exit programs legit?

 

[Talyn23]

@Talyn23

Welcome to TUG.

There is another thread similar to yours in that the person who posted is new to Sheraton Flex. There were several informative posts there that will help you get started.

MVC/Sheraton: Completely Lost Newbie

I purchased Marriott/Sheraton Vacation Club last April (I listed both brands because it all seems to be tied together somehow). I can't figure out how any of it works. I have Flex Points (which I think are StarOptions) and Club Points. Some of them are listed as bonus, some are banked. I am...

tugbbs.com

You need to search for a reservation. See what is available. Where might you want to go. Or select a high-demand date and start learning how to rent.

Come back to ask questions. We can help you understand your ownership and make the best of it.

---
TUGgers - I am not familiar with Sheraton Flex

Does @Talyn23 need to be aware of banking deadlines (like June 30, 2024?)

Wow thank you so much. Everyone is so helpful here. I did bank my points already only because I called to make a payment (bec when they switched over it kicked my auto pay off) the lady told me about banking thank GOD or I would have lost out.

 

[claraj]

Unfortunately, I don't think there's anyway to sell or give away the TS without first paying off the loan.

 

[VacationForever]

Any of those exit programs legit?

ZERO.

 

[Passepartout]

You’re absolutely right, it really was. So is there ways to get out? Or you mean rent to pay it off quicker etc? Any of those exit programs legit?

We have never heard of one that was legit. All are designed to get more of your money. Yes, they WILL 'get you out', but at the cost of your credit.

You are in good company. We took a poll some time ago, and found that just about 50% of TUGgers bought their first TS just like you did. From the developer, and waited too long to rescind.

Their decision- and it should be yours, too, is that they saw value to them at the presentation, and bought. Nothing has changed, except they-and you- no longer have the free exit option.

So my advice to you is to buckle down. Pay off the high interest note on what you bought. Work some extra shifts, or take a second job for a while. Then learn how to use what you bought. Rent it, or use it to take the vacations you envisioned at that presentation.

Stick around TUG. We are timeshare USERS. Telling folks the truth about not rescinding when the opportunity is theirs is just part of it.

We know something of what we say.

Jim

 

[rickandcindy23]

Do you have kids? Timeshares are great for families.

We bought our first two timeshares direct and regretted each time, but we learned to use them. That was 42 years ago.

You can buy what you bought basically free via the resale market, and that fact should intrigue you because you can get 2-3X more points for basically free and have something you could use or rent to help pay for that mistake. Not that I think you should buy something resale now, but later on, after you learn the system, resales will be plentiful.

 

[Talyn23]

We have never heard of one that was legit. All are designed to get more of your money. Yes, they WILL 'get you out', but at the cost of your credit.

You are in good company. We took a poll some time ago, and found that just about 50% of TUGgers bought their first TS just like you did. From the developer, and waited too long to rescind.

Their decision- and it should be yours, too, is that they saw value to them at the presentation, and bought. Nothing has changed, except they-and you- no longer have the free exit option.

So my advice to you is to buckle down. Pay off the high interest note on what you bought. Work some extra shifts, or take a second job for a while. Then learn how to use what you bought. Rent it, or use it to take the vacations you envisioned at that presentation.

Stick around TUG. We are timeshare USERS. Telling folks the truth about not rescinding when the opportunity is theirs is just part of it.

We know something of what we say.

Jim

Thank you. Appreciate everyone and their advice.

 

[alwysonvac]

.....We have not even used the timeshare the whole year. We do not want it or want to pay for it any longer realizing it was a mistake on our end with so many limits to where we can travel and when.

But why did you buy? Where did you want to go and when?

 

[Talyn23]

But why did you buy? Where did you want to go and when?

Well we travel often. Usually use my Marriott points for hotels or airbnb. When we went to this sales meeting it was only bec they offered to upgrade our room. But we bought bec he made it sound like we could travel more than we already do but dir less $. That is not the case at all. We pay 340/mo plus annual dues (1200) so 440/mo and get 56,300 points. That is nothing. That’s basically 1 decent trip a year of a few mediocre ones. Sales rep made it seem like this would have us traveling the same or more but for a fraction of the costs - it is not the case.

 

[echino]

Have a good look at the StarOptions chart:

https://vistana-web-static.s3.amazonaws.com/vistana-web/assets/pdf/charts/staroptions_value_chart.pdf

This will give you an idea how far your points go. It's cheaper to book mid-week or during a lower season. Some good value there.

 

[alwysonvac]

Well we travel often. Usually use my Marriott points for hotels or airbnb. When we went to this sales meeting it was only bec they offered to upgrade our room. But we bought bec he made it sound like we could travel more than we already do but dir less $. That is not the case at all. We pay 340/mo plus annual dues (1200) so 440/mo and get 56,300 points. That is nothing. That’s basically 1 decent trip a year of a few mediocre ones. Sales rep made it seem like this would have us traveling the same or more but for a fraction of the costs - it is not the case.

Sorry to say, timeshare sales folks are known to stretch the truth in order to make a sale.
The sales folks will sell a small amount of points then each time owners stay at any of their resorts, they try to get the owner to spend more $$$ for various reasons (need more points, elite status, new resort, new program, etc) via an owner updates (aka sales presentations).

Those that find us in time save a lot by buying resale vs those who buy from the developer. An old TUG poll revealed that approximately 50% of TUG members/guests purchased from the developer. If you do decide to keep your purchase, just don't buy any more from the developer.

JMHO...I suggest that you take the time to learn what you have and take advantage of some of the travel opportunities before throwing in the towel.
Similar to learning the tips and tricks with Marriott hotel points, you need to learn the tips and tricks with timesharing. If you have flexibility, you might be able to find some deals during non-peak times.

Keep in mind, you have access to the following:

(1) Sheraton resorts via Home Options.

See this link for TUG FAQs for Sheraton Flex (link)​

Post #11 above provide a link to recent discussion with good information (see below)​

(2) Vistana resorts via StarOptions (see the point chart in post #23 above).

From what I've read on TUG regarding Sheraton Flex, 1 HomeOption = 1 StarOption​

For examples gives you access to Bahamas, St John, Maui and Kauai​

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(3) Marriott resorts via Abound Club Points

From what I've read on TUG regarding Sheraton Flex, 32 HomeOption = 1 Abound Club Point​

Based on that you have ~1769 Club Points​

​

Read Vistana's FAQs (link) on Marriott Abound Club Points,​

Last minute discounted stays are available via Destination Escapes. See link for some examples (link)​

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​

Here's a link to the 2025 Club Point Chart (link).​

Here's an example from the Club Point Chart. High demand travel dates and larger unit sizes will cost more Club Points compared to lower demand resort and smaller unit sizes.​

​

(4) Other timeshare resort via exchange or cash rental through an exchange company called Interval International (II)

II membership is included with your ownership. With II, you have Vistana/Marriott priority exchange preference for Vistana and Marriott bookings. However not every resort, every week and and every unit size will be available. For example, right now there's lots of Maui exchange availability online, if your flexibility to take advantage of the dates currently available.​

​

Also cash rental are available throughout the year. Off seasons weeks are normally cheaper at most destinations (of course based on availability).​

If you decide to stick around, then join TUG for $15 and gain access to II online sightings.​

 

[daviator]

I am brand new to this all but am desperate on some advice/help please.

We got coaxed into purchasing a Vistana timeshare exactly a year ago and were BS’d the entire process. I tried to cancel in the 10 day window but they waved an upgrade and free week in my face to get us to stay. Keep in mind we weren’t even told about the 10 day window in the sales presentation, or closing. Day 12 I called to cancel and we were out of our recession. We have not even used the timeshare the whole year. We do not want it or want to pay for it any longer realizing it was a mistake on our end with so many limits to where we can travel and when.
My question is how can we get rid of this? They have a deed-back but can we use that if we’ve only been paying on it for a year? We obv still owe. I haven’t missed any payments, maintenance dues are UTD. Just really looking for a way out that won’t trash my credit. Any advice is much appreciated. Thank you.

Just a side comment... I doubt if any timeshare presentation anywhere, ever, has included any discussion of the cancellation or rescission. Well, maybe if someone specifically asks about it they will acknowledge that there is a rescission process, but they are not every going to bring it up voluntarily. They aren't required to and it isn't in their interest to do so.

This is why it is so important that people read what they are signing. I'm quite satisfied with my ownerships, but each time I bought I made them sit there for the time it took me to read through the entire contract, which includes an acknowledgment of the right of rescission. If you don't read the contract, you are just throwing caution to the wind and essentially saying that you're perfectly fine with whatever "gotchas" they may have snuck in there. Yes, it's not necessarily easy reading, but it's important.

Sorry for the PSA, it doesn't help you for this instance but hopefully in the future you'll read before signing.