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Need some advice

sammyg8013

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I purchased a timeshare in Las Vegas and rescinded within the required 5 days. It was a 2 bedroom at the Grandview with 4 extra weeks for $20000.

After I canceled, another salesperson contacted me and we have been renegotiating the terms. He has now dropped the price down to $16000.

I am very new to timesharing and I get the impression that this is a good deal but I really have no idea. If you could give me your opinions, it would be greatly appreciated.
 

grest

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Run, Sammy, Run! No, this is definitely not a good deal. Please rescind, come back to TUG to learn how to get the best bang for your buck. You will save thousands of dollars. Don't hesitate.
And welcome to TUG!
Connie
 

DeniseM

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I hate to tell you this, but it isn't a good deal at all. You can buy the EXACT same thing on the resale market for pennies on the dollar.

I highly suggest you rescind, take some time to do some research, and then buy resale for thousands less. In this economy, people are literally giving away timeshares, and you can pick one up in Las Vegas for next to nothing.

Just a quick look at one of the prominent online resale website shows 2 bdm. units at this resort starting at $4,400 - CLICK HERE

And I bet you can find one for even less on ebay.
 
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TUGBrian

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3 current ads for this resort in the marketplace all under 3000 dollars.

just some helpful info =)

ebay also shows completed listings for under 1000 dollars.
 
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sammyg8013

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I know I can get the timeshare for cheaper but I'm having trouble putting a value on the extra weeks.

How much would they be worth? Are those available through ebay/another internet site?
 

T_R_Oglodyte

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I know I can get the timeshare for cheaper but I'm having trouble putting a value on the extra weeks.

How much would they be worth? Are those available through ebay/another internet site?
Not a whole lot. At most they would be worth the annual fee, and that is on the high side, particularly if they are restrictions on when they can be used.

A more accurate value would be what such units are renting for on sites such as eBay.

The developer is willing to throw those into the deal precisely because they don't have much value.
 

Passepartout

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I agree wholeheartedly with Steve (above) and post #2. Don't buy, rescind if you already did, Tell any salesman who calls that you found x(number) of exactly what he's selling for 10-15% of his price. Hang out here for a while. Blow $15 on membership to see the reviews. You'll be like the rest of us with a portfolio of timeshares and not enough time to use them all. Example: I pay maintenance on 2, yet have 6 weeks booked over the next 15 months including 2 on the Mexican Rivera and 1 Maui and 1 week in Spain. And I still have points available for a couple-to a few- more.

Acquiring timeshares is easy. Using and getting rid of them is the hard part. Take your time.

Jim Ricks
 

UWSurfer

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"Extra" Weeks have little or no value...especially when you are paying up to 16 times what you can get this on the resale market.

You've received some really good advice here already. Rescind now, before the window closes and then spend some time here learning how to get what you want for much, much less.
 

DeniseM

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I know I can get the timeshare for cheaper but I'm having trouble putting a value on the extra weeks.

How much would they be worth? Are those available through ebay/another internet site?
Your current price is $16,000.

You can buy it on ebay for $1,000.

So do you think the 4 extra weeks are worth $15,000?

Probably not. - Rentals are very cheap in Las Vegas. I would value them at no more than $900 each and that's probably on the high side. So that means you would pay $15,000 more for 4 weeks worth $3,600. Don't do it...
 

T_R_Oglodyte

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You should also be aware that many of us belive that Las Vegas in general is not a good place to buy a timeshare because of the large supply of timeshares there - Las Vegas is a very easy location to exchange into using using timeshares that are far less expensive to buy and own than a Las Vegas timeshare.

If you are planning to use your timeshare for traveling and exchanging to different locations, there are many better options to consider for that purpose.
 

Patri

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The salesperson will string you along. Since you have already rescinded you should be ok, but if anything is in limbo, they will dally you until the recision period ends and then you are stuck. Don't be a sucker twice.
 
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