New Capital Vacation Owner

[ZTugBoat]

So I never thought I'd be one to own a TS. But I got a call from Monster, they set me up with a room at a questionable hotel for a few days in Myrtle Beach. No real incentive aside from the stay itself. Did the presentation kinda straight forward in my opinion. The sales guy I was paired with was a hoot, we got a long great, and I genuinely think he's a blast (I'd hang out with him just because). So I obviously bought something and became an "owner". Just wanted to see if this was a decent deal or not.

75,000 points
100,000 bonus points (one time)
Loyalty Level Preferred
$1,375 DP
$10,600 to either finance or just pay, I can pay it if I want to
$540 Yearly MF
Received a free cruise, flight for 2 anywhere in the US, a couple 3-4 day stays at places

I feel like I just got so into it I failed to really think about it all. I do have some intentions to travel and I'm able to just go due to my work but I tend to not really travel due to cost. I'm not 100% sure if this is even cost effective in the long run with those fees. They threw the term VIP around, said that this was a barebones or employee level deal, etc. All things I should have scrutinized. Any advice is welcome and yes I am leaning towards canceling but I really do want to keep an open mind about it if there are real positives to be had here.

 

[iftravel]

Rescind while you can! You paid for the hoot and blast, not the timeshare which is worth zero.

 

[jrb916]

Rescind...if you really want Capital Vacation Points, you can buy for $1 on eBay. Most auctions get 0 bids & are relisted.

You can get the “free” cruise & other items just by going to their presentation, you don’t have to buy.

 

[ZTugBoat]

I thought that might be the case. Just curious when one rescinds, they get their deposit back I'd imagine. What happens to the other bonus "gifts" as long as they have not been used they just be come dead as well?

And if even possible what is an objective example of a "decent deal" with a Timeshare?

 

[TheTimeTraveler]

I thought that might be the case. Just curious when one rescinds, they get their deposit back I'd imagine. What happens to the other bonus "gifts" as long as they have not been used they just be come dead as well?

And if even possible what is an objective example of a "decent deal" with a Timeshare?

Isn't a "gift" a gift ?

I think the gifts are free regardless of whether you keep it or rescind it. Believe me, rescind it while you can. What you paid thousands for can likely be purchased for as little as one dollar on eBay.

Find your "decent deal" on a resale timeshare once you've rescinded. There are plenty of resales for little or nothing out there.










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[ZTugBoat]

Isn't a "gift" a gift ?

I think the gifts are free regardless of whether you keep it or rescind it. Believe me, rescind it while you can. What you paid thousands for can likely be purchased for as little as one dollar on eBay.

Find your "decent deal" on a resale timeshare once you've rescinded. There are plenty of resales for little or nothing out there.










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I would think you're right that a gift is in fact a gift, especially since its not listed in the contract anywhere its just separate documentation they provided. But I can also see them being petty and saying "sorry that was based on the premise you were an owner".

 

[TheTimeTraveler]

I would think you're right that a gift is in fact a gift, especially since its not listed in the contract anywhere its just separate documentation they provided. But I can also see them being petty and saying "sorry that was based on the premise you were an owner".

Don't you want to legally DUMP that seriously overpriced Timeshare?

It's your one and only chance to get out of it and be made whole again.

Take the advice here on TUG. Rescind, do your homework and then think about resale.

If you do nothing you'll end up kicking yourself for all the years that you have to pay that loan off. Then you'll realize it's worth nothing after all those payments.

Best of luck!











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[Passepartout]

Rescission means to set affairs back to what they were before a contract was signed. If the gifts you received were to attend the presentation, they're yours. If they were buyers 'premiums for purchasing, they should be returned. Intangible stuff like bonuses and 'free vacations' shouldn't be eligible to redeem.

Now. there are hundreds (maybe thousands) of timeshares for free or nearly so. You can buy into one- we recommend buying where you want to vacation rather than needing to 'trade' or exchange to go where who WANT to vacation.

First, write that rescission letter saying simply that you don't want to go through with this purchase, you will be released from it, you'll get your whole deposit back and no hard feelings. If it turns out that their deal is what you truly want, the sales dude will be happy to sell to you again and probably buy you a beer.

Stick around TUG and find out what timeshare is all about for whole lot less than the deal you were offered.

Best!

Jim

 

[TUGBrian]

congrats on finding TUG in time to save yourself from a 10k mistake.

 

[theo]

OP: Please follow the good advice already provided by others above and rescind immediately. Rescission periods are determined by individual state law and I believe that the rescission time period for SC is only 5 days.

If you are determined to purchase a timeshare, do so only in the resale market and only after doing considerably more homework. IMO, it would be a huge mistake to get yourself involved in any way with Capital Vacations and / or its’ very limited “internal points” program — even if provided for free (never mind paying $10k and eternal annual fees for a “product” worth virtually nothing).

You have only a very limited amount of time to reverse a decision that you would almost certainly regret for a very long time. I hope that you will take full and prompt advantage of this rescission opportunity while it still exists.