• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 26 years!

    Join tens of thousands of other owners just like you here to get any and all Timeshare questions answered!
  • TUG started 27 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
  • TUG has now saved timeshare owners more than $15,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $14 Million dollars
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! Join tens of thousands of other owners who get this every week! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

New timeshare

Rescind or not

  • yes

    Votes: 20 100.0%
  • No

    Votes: 0 0.0%

  • Total voters
    20

janemas

TUG Member
Joined
Mar 27, 2018
Messages
7
Reaction score
11
Points
3
Help please.

After signing the purchase agreement for $15149.00 payable in 120 mos for $250.47 with yearly main fee of $645 and annual memb fee of $123, i went online to check if this timeshare purchase we made today in the Las Vegas Desert Club was indeed a wise decision.

I’ve read thru some of the threads here and most of the answers were on the negative side and now I am beginning to agree that it was not a wise decision.

We got sold on the idea of owning a timeshare with Holiday Inn Club Vacations since we were told that you can accumulate your points and that they dont expire.

Should I rescind and cancel the contract?
Please help me decide. This amount is a big dent on our budget but pushed thru with the purchase to save on future long term family vacations.

Thank you.
Jane
 

slip

TUG Review Crew: Veteran
TUG Member
Joined
Mar 5, 2011
Messages
5,565
Reaction score
4,588
Points
399
Location
Honolulu, Hawaii
Resorts Owned
Pono Kai, 20 wks: Maui Schooner, 1.5 wks; WaveCrest Condo, Molokai, HI
Recind!! The bad decision was not buying resale. Not buying a timeshare. Timeshares can be great.
 

Passepartout

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
23,587
Reaction score
9,226
Points
799
Location
Twin Falls, Eye-Duh-Hoe
Rescind. Research. TUG is the perfect place to get all the honest answers. Then when (if) you decide it's right, there are tons of timeshares, with virtually all the meaningful benefits offered by the developer for just a fraction of the price you agreed to.

Do it tomorrow.

Jim
 

janemas

TUG Member
Joined
Mar 27, 2018
Messages
7
Reaction score
11
Points
3
Rescind. Research. TUG is the perfect place to get all the honest answers. Then when (if) you decide it's right, there are tons of timeshares, with virtually all the meaningful benefits offered by the developer for just a fraction of the price you agreed to.

Do it tomorrow.

Jim
Thank you!!
 

Passepartout

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
23,587
Reaction score
9,226
Points
799
Location
Twin Falls, Eye-Duh-Hoe
By the way, there is NO SUCH THING AS A NEW TIMESHARE! They are ALL used. One you buy resale is exactly the same as one a developer sells for tens of thousands of dollars. Someone slept in the bed, ate at the table, bathed in the shower the day before you move in, and somebody else will move in after you leave. Resale purchasers get the same thing, but for pennies instead of thousands of dollars.
 

janemas

TUG Member
Joined
Mar 27, 2018
Messages
7
Reaction score
11
Points
3
By the way, there is NO SUCH THING AS A NEW TIMESHARE! They are ALL used. One you buy resale is exactly the same as one a developer sells for tens of thousands of dollars. Someone slept in the bed, ate at the table, bathed in the shower the day before you move in, and somebody else will move in after you leave. Resale purchasers get the same thing, but for pennies instead of thousands of dollars.

Noted. Thanks much!!!!
 

DaveNV

TUG Review Crew: Expert
TUG Member
Joined
Jun 1, 2006
Messages
15,580
Reaction score
14,914
Points
898
Location
Mesquite, Nevada
Resorts Owned
WorldMark
Definitely rescind. You can buy the same thing for as little as ONE DOLLAR. See these eBay posts: https://www.ebay.com/sch/i.html?_from=R40&_trksid=p2380057.m570.l1313.TR0.TRC0.H0.Xtimeshare+Las+Vegas+Desert+Club.TRS0&_nkw=timeshare+Las+Vegas+Desert+Club&_sacat=0

Follow your rescission process to the letter as it's listed in your paperwork, and do it now. You have a limited time to rescind and get out of this ridiculous purchase. Then come back, do your research, and consider buying on the resale market.

Dave
 

fkclay

TUG Member
Joined
Apr 11, 2007
Messages
61
Reaction score
11
Points
218
Location
Chesapeake, V A
Awwww, rescind! I did the same thing years ago and had buyer's remorse on the drive home. I found this site and started reading. A year after that I purchased my first Marriott resale for $1,000, then added another for $1,000, then added Wyndham for $1. I love timesharing, but don't pay the developer prices!
 

vacationtime1

Tug Review Crew: Rookie
TUG Member
Joined
Sep 7, 2006
Messages
4,008
Reaction score
1,467
Points
399
Location
San Francisco
Resorts Owned
WKORV-OF (Maui)
WKV x3 (Scottsdale)
Rescind now -- while you still can.

If/when you purchase, pay cash; do not finance. If you cannot pay cash, you should probably defer the purchase until you can.
 

Karen G

Moderator
Joined
Aug 17, 2004
Messages
9,386
Reaction score
1,834
Points
749
Location
Henderson, NV
Resorts Owned
Once owned these: FirstFairway@Walden X 2; Lawai Beach; ManhattanClub; PuebloBonitoRose; 4 South Africa--now timeshare-free
Don't delay in sending your rescission letter because in Nevada there are only five calendar days from the date you signed in order to legally rescind your purchase. Send your letter by certified mail so that you have proof that you mailed it in time. Be sure everyone who signed the purchase contract signs the rescission letter. If you paid anything by credit card, notify your card provider that you have rescinded and dispute any charges made to the card for this purchase. Don't cancel the card until all charges have been reversed.

Welcome to TUG. You are among the fortunate people who found us in time!
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
18,685
Reaction score
3,709
Points
749
Location
Florida
congrats on finding TUG in time to save $15 grand!
 

silentg

TUG Review Crew: Expert
TUG Member
Joined
Jul 17, 2005
Messages
5,054
Reaction score
2,350
Points
499
Location
Central Florida
Resorts Owned
HICV Orange Lake, Fitzpatrick's Castle Holiday Homes, The Pines At Aspen East
We belong to HIVC. I agree with others recind now! Check ads on eBay, Sumday, TUG Marketplace. We bought at Orange Lake in Kissimmee. All of our timeshares are resales. Welcome to TUG!
Good Luck!
Silentg
 

HudsHut

TUG Review Crew
TUG Member
Joined
Jun 6, 2005
Messages
2,616
Reaction score
445
Points
318
Resorts Owned
WorldMark
Hi Jane:
Welcome to TUG.
Yes, absolutely rescind.

While I do not know anything about Holiday Inn Vacations Club, I am certain of one fact. Points always expire. You may be able to combine, you may be able to extend, but an expiration date will occur.
Think about it. You have x number of points. Those point enable you to reserve a certain number of nights at a resort. The resort cannot "hold" those nights for you forever. At some point, your time to reserve is up.
This is also a point that some members don't initially understand: in a points system (or a floating week system), for the best selection, you should reserve your vacation week as early as it is allowed. If you can reserve at 12 months, you pick your dates exactly 12 months out (assuming there is no fee to cancel, and that you can reasonably predict that you can travel during those dates.) You are competing for a reservation with every other owner. The longer you wait, the fewer dates will be available. And yes, if you are late, it is entirely possible that the resort will be sold out for the dates you select.
 

GT75

TUG Review Crew: Veteran
Moderator
Joined
May 30, 2016
Messages
2,274
Reaction score
1,056
Points
473
Location
Gig City in Tennessee
Resorts Owned
HGVC-x7
+Rescind. It looks like you have already completed that. Now, relax and take your time to research to see if a TS (resale of course) will fit your needs.
 

janemas

TUG Member
Joined
Mar 27, 2018
Messages
7
Reaction score
11
Points
3
Good morning,

Thank you for your advice.
I already received a credit back for the $1500 down we put upon signing.

I am now browsing over ts resale prices and so happy to note that they are more affordable.

Again, many thanks to the TUG family!!


Jane
 

LannyPC

TUG Member
Joined
Jul 5, 2010
Messages
3,385
Reaction score
945
Points
348
Location
British Columbia
I am now browsing over ts resale prices and so happy to note that they are more affordable.
That's great that your rescission went through. While browsing resale prices is a good idea, I would recommend taking the step first of determining if owning a TS is right for you. There are many factors to consider including which system to buy into. There is the option of renting from an owner so you can "try before you buy".
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
54,440
Reaction score
4,714
Points
1,499
Don't rush into another purchase -

FIRST: do this survey - https://www.tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/

Then, do your research on TUG.

I recommend that you wait at least 6 mos, (while doing your research) before you buy again - I guarantee that what you will buy in 6 months, will be different than what you would buy today, because you will be making an informed purchase.

If you are eager to try out timesharing sooner, do some timeshare rentals - all of these are $100 per night or less:

https://www.tugbbs.com/forums/index.php?forums/timeshare-rentals-offered.45/
 

vacationtime1

Tug Review Crew: Rookie
TUG Member
Joined
Sep 7, 2006
Messages
4,008
Reaction score
1,467
Points
399
Location
San Francisco
Resorts Owned
WKORV-OF (Maui)
WKV x3 (Scottsdale)
Don't rush into another purchase -

FIRST: do this survey - https://www.tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/

Then, do your research on TUG.

I recommend that you wait at least 6 mos, (while doing your research) before you buy again - I guarantee that what you will buy in 6 months, will be different than what you would buy today, because you will be making an informed purchase.

If you are eager to try out timesharing sooner, do some timeshare rentals - all of these are $100 per night or less:

https://www.tugbbs.com/forums/index.php?forums/timeshare-rentals-offered.45/
+1

I agree with DeniseM's recommendation to rent before buying. But I would not necessarily limit myself to $100/night.

Renting permits you to determine what you like as to room size, views, and amenities without commitment. If you do that a couple of times, you will be in a better position to buy what works for you.
 
Top