New or Resale

[Rustupb]

My wife and I went through the sales presentation knowing we were not going to buy and we got sucked in. We don't regret it yet, but are still inside our window of rescinding and were wondering whether we should rescind and buy used. Our cost is $20K for Bonnet Creek in Orlando for 154K points with taxes and maintenance totaling $700 per year. I saw someone bought 126K points for $2,000 on E-bay. Should we rescind and buy re-sale? We have until Thursday 2/28 to rescind. Any advice is appreciated. Thanks.

 

[timeos2]

Never pay too much Rescind

My wife and I went through the sales presentation knowing we were not going to buy and we got sucked in. We don't regret it yet, but are still inside our window of rescinding and were wondering whether we should rescind and buy used. Our cost is $20K for Bonnet Creek in Orlando for 154K points with taxes and maintenance being $700 per year. I saw someone bought 123K points for $2,000 on E-bay. Should we rescind and buy re-sale? We have until Thursday 2/28 to rescind. Any advice is appreciated. Thanks.

Don't even hesitate unless you enjoy spending $10,000+ more than you have to. Rescind NOW. Shop around (it will take about 5 minutes to find multiple resale offers) for 154K points for $3000 or less.

Think buying retail is worth $17,000? Trust me its not. Rescind. You won't regret it. You most likely will regret paying $17,000 too much. Rescind.

 

[rickandcindy23]

My wife and I went through the sales presentation knowing we were not going to buy and we got sucked in. We don't regret it yet, but are still inside our window of rescinding and were wondering whether we should rescind and buy used. Our cost is $20K for Bonnet Creek in Orlando for 154K points with taxes and maintenance totaling $700 per year. I saw someone bought 126K points for $2,000 on E-bay. Should we rescind and buy re-sale? We have until Thursday 2/28 to rescind. Any advice is appreciated. Thanks.

Absolutely, you should RESCIND before your time is up.

You get no more benefits as a buyer of a new timeshare than a resale buyer gets. The system is flawed, for sure! If Fairfield/ Wyndham cared about their customers, they would give Gold benefits for any developer sale of $10K or more, but they don't.

We just bought 675,000 points from RMPI Realty on eBay for $7,500+$750 in closing costs, and our maintenance fees are 3.58 per 1,000 points, at very stable resorts. This company has a really great track record with owners on this board and the Wyndham owners board. www.wyndhamowners.org This site has a great bunch of people that are always offering helpful advice.

Bonnet Creek maintenance fees are going to go up, up, up because Florida is just an expensive place to own timeshare.

We traded into Bonnet Creek and loved the place. It is a huge WOW! But it isn't worth the price you paid because we can stay there anytime we want as owners, and they are building more, so inventory isn't going to be a problem at ten months out, unless you want the Presidential Suites, which are hard to get.

 

[AwayWeGo]

No Such Thing As "New" Timeshare. Choice Is Resale Or Overpriced. (No Brainer, Eh?)

New or Resale

There is no such thing as a new timeshare.

Click here for details.

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[Rustupb]

John Chase and Cindy,
Thanks. We will work on the paper work to rescind and overnight the papers. We will then go to work on buying points. Is Marriott a better way to go? How does Wyndham compare?

 

[falmouth3]

No doubt about it - rescind. Be glad you found TUG. You won't regret it!

Sue

 

[falmouth3]

John Chase and Cindy,
Thanks. We will work on the paper work to rescind and overnight the papers. We will then go to work on buying points. Is Marriott a better way to go? How does Wyndham compare?

Marriott is top notch, but even resale it's pretty expensive. Spend some time reading these boards. Look around at sale prices - look at eBay, Look at some of the other resale websites. Take your time, because there will always be something out there for sale that you can buy. Just become an educated consumer! If you think you can say no, go to some more sales presentations to see what's out there - just be sure you can say no.

Glad you decided to rescind!

Sue

 

[applegirl]

You are not ready to buy a timeshare yet. Spend a couple of months here on TUG reading the forums and then reading some more.

Buy RESALE!!!!!!!!!!!!! Rescind now.

 

[Whichway]

Just to add agreement to everyone here saying to rescind.

After spending some time researching here and other places on the internet, my wife and I bought 154,000 yearly points off of Ebay back in December. This is our first time-share purchase.

Our total costs for the sale was $2,171.00 which includes 6 months of maintenance fees on a property that only has $583.20 in yearly maintenance fees (including taxes). This was with only about a week playing around with Ebay, I'm sure if I had spent more time on Ebay, I'd had been able to find even a better deal.

My wife and I were a bit concerned about possible fraud, but I pointed out to her that even if this was a total rip-off, we could be ripped-off about 9-10 times and still break-even with buying retail!!! However, the process has actually gone really smooth and we already have the deed recorded. Right now we are waiting for Wyndham to get their act together, which as I understand can take a bit of time.

So please rescind. Spend some time researching and then play around with Ebay. I'm sure in a year when you are sitting on a resort beach sipping a margarita with an extra $20,000 in your pocket you will be very happy with your decision to rescind

Dave

 

[jercal10]

I agree rescind. I have a bunch of points, most of which I've gotten on e-bay.

I did buy from FF to get PIC pts for another week I had, also recinded once after considering carefully. I was very glad I did. Florida has the law for that very reason. I have had more d- ridiculous promises from FF sales people.

They may have forgotten to mention the separate tax bill that you will get annually if you buy a Fla week( $100+).

My last purchase on e bay took a long time--2 separate brokers didn't have clear deeds to what they tried to sell.

 

[lprstn]

Rescind. I say Wyndam is a better product resale, because its cheaper and you get to stay at more places within system than you do with Marriott. My best friend owns both, but travels with me 6 times a year on her cheaper Wyndam, and when I want to hob nob with the spend thrifts of TS I give her some points or one of my desired weeks for her week in Aruba. If that doesn't get me into the Marriott, I sign up to do one of their tours and get a cheap rate at one of their prime locations. Even resale their price is too high for my blood. I bought my resale from Holiday Group, and Tom Cornelius (you can find some of his sales on Tug classified sections - he has every Wyndam location you could want), and referred my friend to GMAC timeshare resales.

 

[johnmfaeth]

Rescind.

It is important that you follow the recindment instructions which were included with your sales package. Make sure that you send it the way they require (I.E. certified mail).

Now take your time...and then buy resale.

 

[timeos2]

Points NOT weeks

John Chase and Cindy,
Thanks. We will work on the paper work to rescind and overnight the papers. We will then go to work on buying points. Is Marriott a better way to go? How does Wyndham compare?

Wyndham is a true points system - over 100 resorts available with easy points reservations no third party exchange company or weeks involved. Marriott is a single resort based purchase that requires II to make a trade, using fixed weeks (no "change" on an unequal trade). Much more limiting and far more expensive.

Wyndham at resale for Fairshare Points is one of the great bargains for a flexible system in timesharing. You made a good choice with Wyndham but at the wrong purchase price (retail). Read about the various systems (don't buy weeks ) then buy resale. I'd still buy Wyndham FSP.

 

[Bill4728]

Rescind.

It is important that you follow the recindment instructions which were included with your sales package. Make sure that you send it the way they require (I.E. certified mail).

Now take your time...and then buy resale.

Please note that overnighting your rescinding paperwork may not be valid. Most companies require US mail. Follow the instructions in your paperwork.