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New Marriot Vacation Club purchase

ericusta

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I'm new to timeshare and this week when i was in Florida staying at Marriott property i purchased 6500 points with Marriott Vacation club. After reading some forums and doing research i'm not sure if i made the right decision. i'm still under 10 day cancellation period which i am considering.

I see that many previous owners don;t like the new program.Just curious anyone new to this program had any issues when booking.

thanks
 

Steve

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Cancel While You Can

I would follow the instructions in your package and cancel at once. You can always buy in later if you really want the points program. On the other hand, if you don't cancel, you have lost nearly 100% of your purchase price as there is currently NO resale market for Marriott destination club points.

You can purchase a platinum Marriott week on eBay or even through a broker for $1000 or less. You can exchange into other Marriotts through II and get a feel for the Marriott system at MUCH lower cost than the points program you were sold. Plus, you'll have a deeded week.

I am a Marriott owner and have owned a number of Marriott weeks as well as other timeshares. My advice is to cancel at once.

Steve
 

billymach4

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Welcome to TUG!

So Glad you are researching your purchase. Please recind this immediately. I am guessing you paid about $40,000 to $50,000 for this purchase, and possibly had it financed by Marriott.

You are under no obligation to purchase these points at a pressure filled sales presentation.

If you like the Marriott Properties you can purchase resale for a mere fraction of what you just paid.

If you like the idea of timesharing you can also purchase another property and trade into other premium resort properties, including Marriott using one of the exchange systems.

Marriott is not the only game in town.

Where do you like to vacation. Alot of Tuggers will also advise you to buy at a location you would like to visit annually.

Please rescind. Join Tug. Read Tug. Absorb the advice and the experience of the experts here. Then in about 6 months to a year you can then make an informed purchase.

Another option that is quite popular is to rent from existing owners at timeshare resorts. You don't have to tie up a large sum of your money, and you are not obligated to pay the ongoing maint fee for years.

Also the points you purchased will be very hard for you to sell when you chose not to use in the future. You are obligated to keep paying the maint fees. Don't believe a word the sales staff told you at the sales desk. Marriott does not have a resale process, and Marriott will not buy your points back. You will be stuck with them for a long time, possibly forever.

If at the end of 6 months to a year you ultimately decide you want to purchase, after you do your research here on TUG first, then you can go back as an educated consumer an make an informed decision.
 
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pipet

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ouch on the maintenance fees

The maintenance fees on those points are higher than what weeks' owners pay. For instance, to stay at an ocean view in the Waiohai in summer, you need 5875 in points, which equates to a MF of 2408.75. My MF is 1625.27. I have a week that is definitely NOT one of the best values in the system, but even it makes points look pretty bad.

The points system may offer a lot of flexibility but at a very steep price. In many cases, you can do as well (or almost as well) renting from owner on your own. Check out the TUG marketplace/redweek.com/ebay to see what owners are trying to get in rent for their weeks, and remember with rent, you don't have the steep initial buy in price.

Many of us bought weeks from Marriott directly - and then found TUG - and realized how much we overpaid vs getting a resale week. The MFs makes old developer purchased weeks look like a bargain!

As a side note, there has been some discussion about Marriott selling a few weeks still from their resale dept (which would be way over an ebay price), and possibly these buyers might be eligible to buy into the points program with their week.
 

dioxide45

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Welcome to TUG!

So Glad you are researching your purchase. Please recind this immediately. I am guessing you paid about $40,000 to $50,000 for this purchase, and possibly had it financed by Marriott.
At the initial price per point of $9.22/point. I would put the number closer to $60,000. I would hazard to guess that the push at the sales presentation was Premier Owner status.
 

ericusta

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At the initial price per point of $9.22/point. I would put the number closer to $60,000. I would hazard to guess that the push at the sales presentation was Premier Owner status.
actually the sales guy didn't push me into premier, i was originally going to purchase 6000. I found out about the premier status from another guest i was talking to in the hotel.

the price i was given was 9.1 per point, along with bonus Marriot rewards points.
 

siesta

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actually the sales guy didn't push me into premier, i was originally going to purchase 6000. I found out about the premier status from another guest i was talking to in the hotel.

the price i was given was 9.1 per point, along with bonus Marriot rewards points.
rescind immediately, good luck.
 

pwrshift

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You found TUG...your lucky day. Rescind right now without delay.
 

dougp26364

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$59,150 is far to much to pay for what amounts to one week of vacation accomadations per year. Watch the resale market and buy a week at a resort you like for 10% to 20% of that figure.

The trust program is nice and it has great flexablity but, it's not worth what amounts to a $40,000 to $50,000 premium. Rescind now and think about it.

Think of it this way, what else could you buy for $59,000!? How many cruises/vacations could you rent for that amount of money? Don't forget the ongoing cost of MF's on this purchase and, if you financed, do you REALLY want that amount of money at 14.9% interest?

Get out of this deal now while you still can! :eek:
 

LAX Mom

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Rescind now while you can!!!

Then spend some time on TUG and educate yourself as to how the Marriott timeshares work. Figure out what works best for your family and start asking questions.

Do you want to travel to the same place every year?
Do you want to exchange to a new place every year?
Do you need to travel when the schools are out?
Can you plan your vacations 12+ months in advance?
Can you travel at the last minute?
Are you looking for beach vacations, Disney, ski vacations?
Do you need a 2 bedroom or would a 1 bedroom/studio work some of the time?

Good luck and welcome to TUG!
 

m61376

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You have lots of options to fulfill your vacation plans, and people here will be happy to educate you. But first things first. RESCIND NOW! Make sure you follow the instructions on your purchase documents, and send everything certified.

60K is A LOT of $$$ and you clearly don't have an understanding of the programs and your options. It is easy to buy the same thing next week or next month, but you will take a bath if you need to sell, so learn about timesharing and what will be best for you and your family BEFORE buying. Rescind now and take the time to learn about the systems and then buy what is best for you. You may find that you can achieve the exact same vacation dreams and save tens of thousands of dollars. Please listen to everyone's advice here -most of us love our ownerships, and will happily help you make an educated decision.

Do yourself a favor and rescind, and then post back here and tell us your vacation goals and we will help you learn about the Marriott weeks and points programs and make suggestions as to the best and most cost effective options for you.

Good luck and welcome to Tug, btw :hi: - we're really a friendly group here :) , and are just being a little pushy about rescinding because you only have a very small window of opportunity to do so.
 

SueDonJ

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ericusta, I agree with the others - rescind while you can and then ask as many questions as you want to help you figure out which (if any) Marriott products will suit your vacation wants/needs. Like m says, you can always choose later to buy DC Points again, but you have only this limited time to rescind what may not be the best option for you. Good luck, and I hope we see you around here whatever you decide. Welcome to TUG! :)
 

ericusta

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Thanks everyone. i will go ahead and cancel the contract and get back in here and educate myself on this timeshare thing.

Again, thank you all for your responses.


Eric
 

m61376

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Eric-
That's really the smartest thing you can do at this point. Again, follow the recission directions exactly, and if you are still there don't let the salesperson intimidate you; regardless of what you've been told, you can get the same offer in the near future if that's what you ultimately feel is in your best interests. However, even if you really want DC points and not week ownership, we can still recommend an alternative way to achieve that and still save very substantial amounts of money.

After you've sent off your recission, post back here and let us know the answers to LAXMom's questions above: where you want to go, when you want to travel, flexibility for planning and dates, unit size needed now and perhaps 5 years down the road (and will your family dynamics and travel needs likely change in 5 years or so), and where you live (general region, since sometimes drive to destinations are worth considering for costs).

Read the stickies at the top of this forum and feel free to ask lots and lots of questions. Don't buy anything until you feel comfortable you really know the system and you can make an educated decision about purchasing.

Basically, there are a few ways to go about obtaining new ownership:
- direct purchase- except for European properties, Aruba and St. Kitts, Marriott has switched over to a points system. Basically, you purchase the DC points (like you did) and can use them like currency to make reservations at various properties, subject to availability. For some high demand weeks, where the weeks were long ago sold put, that means that one of the week owners has to have traded in their week for points for the time to be available. So buying points doesn't guarantee you a Christmas or New Year's ski week, Caribbean or Hawaii week- they still have to be available to reserve.

On the positive side, point purchasers have access to reserve any resort and reserve the view, and you are not limited to check in days or length of stay. On the negative side, you are paying a lot upfront and in on-going MF's for this flexibility, you still have to hope that what you want is available, and point costs can go up over time (although the program is in its infancy so we don't know if this will be an issue down the road). This is the most costly way to get into the program, but is the easiest.

Besides initial outlay, you will be saddling yourself with a very high annual MF and, as of right now, Marriott does not have a way to transfer full usage rights if points are resold, which means that, should you need/want t sell them in the future, you will have a virtually worthless product but still be obligated to the annual MF's.

-Decide where you'd like to visit most often and buy a week there on the resale market. Use II to trade when you want to. Learn the ropes here and this will absolutely be the most cost effective way of getting into the program and enjoying timesharing. If you buy a week you have the right to reserve a week in your season in your purchased view every year; the week is subject to availability but you are always guaranteed a week in your season at your home resort, and you have a deed of ownership. Depending on where and when you want to travel/buy, in this economy resale weeks are selling for as low as a dollar and up into the thousands, but all are a fraction of their purchase price from the developer (or what Marriott was charging until it switched to selling only DC points).

The very strong positives here are much, much lower cost (both up front and generally in MF's) and guaranteed use of your home resort. As opposed to point ownership, you have to rely on II for a trade and you have to reserve for a week with specific check-in days. Only you can decide if the substantial cost savings is worth the more limited flexibility.

Resale weeks purchased after June of 2010 cannot now be enrolled in the DC program. We don't know if they will be allowed at some point in the future, but you can only base your decision on what is today.

-A possible third option which I'd really explore IF you ultimately decide you want points: Marriott is selling some resale weeks which they will allow to be enrolled in the DC program if the purchaser also buys 2500 DC points. The negative here is that the resale weeks from Marriott are in many cases double or more what you could buy them for in the general resale market, but it can be a great way to lower your overall per point cost and there are some weeks that are relative bargains point wise and MF wise (particularly ski weeks, so its especially attractive if you are a skier), and you also get to own a deeded week which has high rental value.

The only negative here is that you would have a mixture of trust and legacy points, but many people here feel that over time there will be little distinction and you would be saving a lot of $$.

This is a very simplistic summary or differing options which you certainly should make sure you fully understand before buying anything.

Good luck, and hope we can help you make a decision that will help you have years of wonderful vacation memories! Please don't let any of this discourage you from ultimately buying, but take the time to understand the system and make an informed purchase.
 
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Quadmaniac

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How do they do it ?

I am curious, how the sales reps are able to sell people on $60K time shares in these presentations ? I have timeshares that I mostly got for free as people did not want them anymore and have never gone to one, but I am trying to figure out how they are able to do it on a regular basis.

For me, if I was at a presentation, I would be thinking $60K/20 years (assuming that is how long it would be before getting the itch to switch) = $3K per yr plus $1900 maintenance on a 2br LO = $4900/yr= $700/day. If used less than 20 years, the price goes up.

Renting from Marriott directly seems to be $350-$450 per night, no commitment. Renting from the rental sites seem to be about $2500/week.

$60K @ 5% interest per yr is $3K if invested. If I invested it and used the return to rent the place, I am further ahead.

So I am curious, what is it that these silver tongued devils say to people to get them to buy and then upgrade to points after being soaked the first time ? I am not just specifically referring to Marriott as it happened in my home timeshare that my friends also own. In general, what are they doing in these presentations to convince people ? Maybe I need to go to one to find out ??? It sounds like they are one HELL of a salesman/woman! :eek:
 

FlyerBobcat

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......
So I am curious, what is it that these silver tongued devils say to people to get them to buy and then upgrade to points after being soaked the first time ? I am not just specifically referring to Marriott as it happened in my home timeshare that my friends also own. In general, what are they doing in these presentations to convince people ? Maybe I need to go to one to find out ??? It sounds like they are one HELL of a salesman/woman! :eek:
I know for a fact that a friend of mine got highly "influenced" by the cocktails -- that I believe were provided for free (not 100% sure on the free part).
But then again it was not $60k...
 

meemo23

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So, I too go sucked in to purchase points on 5 Dec 2012 and woke up regretting it the next morning. I read this post and immediately (while still on the premises) wrote a recission letter and posted it via USPS guaranteed delivery. I see that delivery was accepted on 7 Dec 2012 but have yet to hear back from Marriott. I can't seem to find a phone number to actually speak to anyone. When I check our vacation club account (we own a legacy week in Vegas), I see the points are there. When I checked with my credit card provider, they said they cannot put a "stop payment" unless we have a letter showing they have received our cancellation request. What now?? HELP!
 

m61376

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So, I too go sucked in to purchase points on 5 Dec 2012 and woke up regretting it the next morning. I read this post and immediately (while still on the premises) wrote a recission letter and posted it via USPS guaranteed delivery. I see that delivery was accepted on 7 Dec 2012 but have yet to hear back from Marriott. I can't seem to find a phone number to actually speak to anyone. When I check our vacation club account (we own a legacy week in Vegas), I see the points are there. When I checked with my credit card provider, they said they cannot put a "stop payment" unless we have a letter showing they have received our cancellation request. What now?? HELP!
Glad you stumbled across this thread while you still had time to rescind. I would start by calling owner services and ask to speak to a supervisor to get to the right party.

If you had a great time at the place you were at you can always look for a resale week there.
Welcome to Tug!!
 

melroseman

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Actually, I think it is illegal for a developer/seller to provide free cocktails as part of a timeshare presentation. Now, in Mexico, well, that's a whole different story. The cocktails flow freely...
 

Saintsfanfl

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Actually, I think it is illegal for a developer/seller to provide free cocktails as part of a timeshare presentation. Now, in Mexico, well, that's a whole different story. The cocktails flow freely...
I doubt it is a crime to offer a legal beverage during a sales presentation but I believe in just about every state a contract is not enforceable if it was agreed upon while either party was intoxicated.
 

dougp26364

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I was looking at the original date of this thread. Not quite a year old and the originator had paid $9.10/point. They tried to sell us a 2,500 point package at $11.40/point and told us what a great deal it was because the price had been much lower and was going to go a lot higher. Buy now before the price goes up again. As if that would make the purchase any more valuable.

So that 6,500 point package they were selling for $59,150 would now be developer priced at $74,100. The salesman was telling me they fealt they were under charging and the price should be around $25/point. :eek:
 

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Glad you stumbled across this thread while you still had time to rescind. I would start by calling owner services and ask to speak to a supervisor to get to the right party.

If you had a great time at the place you were at you can always look for a resale week there.
Welcome to Tug!!
Thanks, will give that a try and let you know how I make out.
 

pwrshift

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Buying a TS is so easy...drinks or not...selling is very difficult even if you buy a resale week. If you want to buy, go to eBay for the best deal and only buy where you will go at least 3 out of 4 years...and one to where you can drive to vacation. An annual trip to Hawaii with a family of 4 is very expensive.

Brian
 

chunkygal

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I wish that I had found TUG before I bought from Marriott or Disney, but things being what they are, I make the best of it. While I understand the value of buying the "weeks" product used, I wonder if what happened with Disney's product will happen with Marriott as time goes on and there is more experience and sales with the "points" system. What I am talking about specifically is that at some point there will be resale of "points" at a discount, which will probably offer the most flexibility.

Although I don't remember, the resales of the points may have been more common 3 to 4 years after the beginning of the program.
 
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