My parents bought a Vidanta share, but the sales person said they would buy their old timeshare for 40k

[Bizzy]

Can someone confirm for me this isn't accurate? The salesperson did not buy it but gave them phantom credit for the potential sale of the timeshare. I believe my parents will be on the hook for the 40k once a certain period elapses. I highly doubt anyone is buying a Wyndham timeshare for 40k.

 

[Passepartout]

That is correct. Vidanta will theoretically list their TS for sale, but when the MF comes due, it's back on them and they will own both- except only Vidanta actually owns Vidanta.

 

[T-Dot-Traveller]

Hi @Bizzy
Welcome to TUG

It is smoke & mirrors to overcome the - " I don't need 2 timeshare objection.

Vida Sales quoted them $ 100K & gave them a $ 40K trade in credit
You could go tomorrow & negotiate the price down to $ 60K without a trade in.

 

[amycurl]

Can they still rescind the purchase? If so, they should do so IMMEDIATELY.

 

[Bizzy]

Thanks everyone. My parents are trying to cancel now. My mother said they have till tomorrow to cancel but they will contact their CC company as well.

 

[TheTimeTraveler]

Thanks everyone. My parents are trying to cancel now. My mother said they have till tomorrow to cancel but they will contact their CC company as well.

Send the rescission via USPS REGISTERED MAIL and be very sure it is Postmarked tomorrow otherwise she's out of luck.

Retain a copy of the rescission along with a copy of the USPS Receipt.

Smart move to rescind!











.

 

[T-Dot-Traveller]

Hi @Bizzy
If your parents are still on the resort they can rescind in person with Vidanta Member Services. [ DO NOT GO TO SALES ]
VMS requires an appt. & that may be what your mom was saying.

VMS also accepts emails to start a rescind .
[ I would follow up with a mailed copy & advise the credit card company.]
If your parents are doing this is person - let them know that VMS will offer them things to get them to keep the contract / but will proceed with the rescind after they politely say " no thank you " a couple of times. It is not necessary to give a reason .

********
note - if they want to give a reason
they could say that -
they decided to keep their Wyndham & have also learned that they could not exchange into Vidanta thru RCI / Wyndham - once they became Vidanta owners .

 

[RX8]

Can someone confirm for me this isn't accurate? The salesperson did not buy it but gave them phantom credit for the potential sale of the timeshare. I believe my parents will be on the hook for the 40k once a certain period elapses. I highly doubt anyone is buying a Wyndham timeshare for 40k.

Congrats for rescinding. Others have given great advice. I just came along to explain their little sales scheme.

Let’s assume this transaction was a car purchase. You wanted to buy a new Hyundai Sonata but you also have a Honda Accord car payment. The salesperson falsely states they will buy your Accord but instead, gives you a $40,000 credit for your 10 year old Accord. All they really did was charge you $70,000 for a $30,000 Sonata and then gave you a $40,000 “credit” to end up at the $30,000. You are now stuck with two car payments. If you said “I don’t want two car payments” they may have lied and said they will sell your Accord for you for $40,000. All they would have done is send you to Stan’s Used Car Lot where, as you could guess, it would never sell and you would still own two cars.

Disclaimer - I am in no way implying with this analogy that the timeshare you purchased is worth $30,000 on the resale market. In fact, the timeshare just might be worth less than a 1986 Yugo with 300,000 miles. Yet another great reason why you rescinded.

 

[easyrider]

Disclaimer - I am in no way implying with this analogy that the timeshare you purchased is worth $30,000 on the resale market. In fact, the timeshare just might be worth less than a 1986 Yugo with 300,000 miles. Yet another great reason why you rescinded.

That is a perfect analogy, imo.

Bill

 

[Bizzy]

They are sending the letter today. The resort told them it had to be notarized as well! Ridiculous in my opinion.

 

[enologist]

Hi @Bizzy
If your parents are still on the resort they can rescind in person with Vidanta Member Services. [ DO NOT GO TO SALES ]
VMS requires an appt. & that may be what your mom was saying.

VMS also accepts emails to start a rescind .
[ I would follow up with a mailed copy & advise the credit card company.]
If your parents are doing this is person - let them know that VMS will offer them things to get them to keep the contract / but will proceed with the rescind after they politely say " no thank you " a couple of times. It is not necessary to give a reason .

********
note - if they want to give a reason
they could say that -
they decided to keep their Wyndham & have also learned that they could not exchange into Vidanta thru RCI / Wyndham - once they became Vidanta owners .

Good luck getting an appointment with Member Services.
I tried when my wife and I were in NV, February 2024. I worked through my personal concierge and jumped through hoops only to be denied a in person appointment and directed to Customer Service because word was that MS no longer exists.
We're Empire Estates owners/members.

 

[shomitax]

Good luck getting an appointment with Member Services.
I tried when my wife and I were in NV, February 2024. I worked through my personal concierge and jumped through hoops only to be denied a in person appointment and directed to Customer Service because word was that MS no longer exists.
We're Empire Estates owners/members.

Hi, I noticed you said you were an Empire Estate owner/member. I am being offered an upsell from my exit program I bought which somehow kept me as a founding member even though I bought in 2021 and not 1974. Are you overall happy with the program and do you think it’s value for money?

 

[byeloe]

Hi, I noticed you said you were an Empire Estate owner/member. I am being offered an upsell from my exit program I bought which somehow kept me as a founding member even though I bought in 2021 and not 1974. Are you overall happy with the program and do you think it’s value for money? I have a separate thread going as they offered me something that seems unrealistic, offering me four weeks but leasing back two of them. It worries me when I hear you cannot talk to customer service or get an in person meeting!

Don't do it. It's just smoke and mirrors to get you on the hook for more $$.

 

[pedro47]

Ask that sales person to put it in writing and have it notarized .

 

[enologist]

Hi, I noticed you said you were an Empire Estate owner/member. I am being offered an upsell from my exit program I bought which somehow kept me as a founding member even though I bought in 2021 and not 1974. Are you overall happy with the program and do you think it’s value for money? I have a separate thread going as they offered me something that seems unrealistic, offering me four weeks but leasing back two of them. It worries me when I hear you cannot talk to customer service or get an in person meeting!

First a clarification, Member Services wouldn't meet with us. We were directed to a Customer Services phone number.
We wouldn't do a member update without a Member Services meeting.
My impression is that Sales will hard selling a product that doesn't exist and may never exist as portrayed through their words and paper renditions. We originally were sold on the Cirque du Soleil theme park partnership with Vidanta in Nuevo Vallarta. In hind sight, we should have run away!
A

 

[TUGBrian]

glad you found TUG in time to help your parents dodge this huge bullet!

 

[geist1223]

Years ago when we bought Vidanta in San Jose del Cabo with their smoke and mirrors we were still in San Jose del Cabo for several weeks. We had to have our recession Notorized under Mexican Law. Signed by both of us. We were helped by a friendly Manager where we were staying. Turned it in directly to the Vidanta Resort. Went there without my Wife and took no Credit Cards. Time is 5 Business Days. Saturday is a Business Day. Sunday is not.