New to MVC

[Jwoodie6]

Hello, we are new members of Marriott vacation club.
It was very difficult to reserve anything, and we feel like it’s not worth the money we are spending , especially with the exchange rate from USD to CAD is so bad. Between the monthly payments and the maintenance fees it’s just a very big expense for us.
When we signed we were under the impression it would be easier and more accessible to book our vacation. On the contrary, it was confusing and very hard to navigate the website .

Any advice on how to offload this timeshare? We have points

Thanks

 

[jwalk03]

When did you purchase? If its been longer than 10 days you are past your recession period your options are limited to
- Paying off the loan and then selling for a huge loss Points can be sold for $3.50-$4/pt on the resale market
- Defaulting on the loan and having Marriott take it back- it will be sent to collections and could have credit implications (though if you are in Canada I doubt very much there will be any credit implications.)
- Learning to use what you purchased. Marriott has a good program with many good resorts. But to be successful you have to plan ahead.

 

[dioxide45]

Hello, we are new members of Marriott vacation club.
It was very difficult to reserve anything, and we feel like it’s not worth the money we are spending , especially with the exchange rate from USD to CAD is so bad. Between the monthly payments and the maintenance fees it’s just a very big expense for us.
When we signed we were under the impression it would be easier and more accessible to book our vacation. On the contrary, it was confusing and very hard to navigate the website .

Any advice on how to offload this timeshare? We have points

Thanks

With a loan on the points, you aren't going to be able to sell it or ofload it without defaulting. Unless of course you only own about 1/4 of what you originally paid for it. If you owe more than that, then you are stuck with no way out except default. You could try renting out the points, but I doubt you would get enough to cover your annual fees and loan payment.

Other questions, when are you trying to reserve? Are you booking right at the 12 month mark ahead of checkin. Unfortunately timeshare is not an ideal product for people that plan less than a year out. 10 months would be about the minimum. The more flexible you are on travel dates (travel in off season), the more successful you can be with making reservations.

 

[BJRSanDiego]

Most of the 2023 inventory has already been placed and is no longer available to book except for cancellations. I'd suggest that for your first year of use that you grab something that might work for you but which might not be your first choice. Also, consider that most points owners probably reserve 12 months in advance. So, you should also be focusing on 2024 and get that reserved at the 12 (or 13 if applicable) month point.