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Non-Buyers Remorse

Cathy Rosen

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I currently have a vacation club membership which is different from a timeshare. I purchased it for $5,000.00 while in Vegas back in 2013. I can rent up to two 2BR Westgate resorts per year for $500.00 each. I have no maintenance fees, only membership fees that are not mandatory if I don't plan on traveling that year. The membership fees are 199.00 per year or 300.00 for 2 years. I have the use of Interval without the exchanges, so I can use their getaways. I also have the use of Westgate Cruise and Travel that also has getaways. I have really enjoyed my membership and I feel I've gotten my money's worth.

I just came back from a trip to Vegas again where I stayed at the Flamingo Bay. I attended a timeshare presentation and purchased a partial Elite membership to the casino, and then I sent a cancellation letter when I returned home. Now I'm regretting not going through with it.

So, I'd like opinions on the deal they gave me, because I'm tempted to call them and tell them I want it after all.

The $5000.00 I dropped on my vacation club is considered equity so it goes towards the purchase price of a new timeshare. My additional out of pocket expense is just under 7,000.00, with a deposit of $100.00. My plan was to pay around 2,000 to 3,000 when the payments are due so that I could pay off the rest without finance charges. That way my monthly payments would be 112.00/ month for 3 years.

Under the partial Elite membership, I get 4 nights and 5 days for a 1 bedroom at the Westgate Casino every other year at no cost other than the $400.00 maintenance fee I pay every other year. If I go to another Westgate property, I can get a 2BR for 1 week at $159.00. If I do an exchange through Interval, I get a 1 BR Elite for $189.00. I was told I can borrow against future years if I want to go both years. There are no restrictions as to when I can book my vacation. I am totally dazzled by the suite they showed me. Its gorgeous!

I agonized the first time when I bought the vacation club. I vacillated back and forth for 3 days before deciding to go through with it. I haven't regretted it. Now I'm agonizing again. Its horrible having to make this decision when given no time. My kids are against it, as they were the first time. But they like going on the vacays with me. They don't want to hear any of the details or try to understand how it works. They know one thing and one thing only. Timeshares are bad! They don't want to be saddled with the HOA fees if I pass it on to them. I think I could give it to my cousin's daughter when I'm too old to travel, or maybe even my granddaughter if she wants it. I'm divorced, so its entirely my decision and I want to do a lot of traveling before I get too old (I'm 60).

Thoughts?
 
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taterhed

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I know absolutely NOTHING about this program.

That being said, I have very valuable and sage advice: STOP. DO NOTHING.

There is NO vacation club or timeshare deal that won't be offered again, won't be available next week or can't be had in another form for the same or less money. (with a few minor caveats).

Wait until you are calm, have all the facts and can make an informed decision. I'm sure that many Tuggers will come to your aide and provide sage advice about the offer. In the meantime, don't do something you might regret.

Congrats on having the foresight and courage to discuss this before making the commitment.

good luck.
 

WalnutBaron

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I agree. Remember that the sales weasels who sell timeshares and vacation clubs are trained to make you feel as if there is an urgency, a shortage of supply, a pending price increase, and/or valuable benefits that will expire at the end of the month--anything to get you to buy now.

Check your contract. There will be a rescission clause that tells you how many days from date of purchase you have to pull out. Read it carefully and follow every instruction to the letter, and make copies of your letter. Then send the rescission letter certified mail, return receipt requested.

Once that's done, spend some time on this board and read as much as you can on the stickies here at TUG. Get yourself educated first, and then step into the market as a much more informed buyer.
 

SmithOp

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If you like the current vacation club, and it works for you I see no reason to change. You can walk away from a VC by stop paying, it sounds like your family is not interested in receiving it.

How well did you read all the terms in the new contract? Sales people are notorious for glossing over any onerous terms. Fees can and will go up, perks can be removed. I own Hilton and we recently lost access to Club Intrawest resorts.

I took ownership of a Sheraton for a couple years to become an Interval member. I got rid of it but retain access to getaways by paying just the annual member fees. Pay as you go has advantages over ownership for me, I can stop any time. My family doesn't understand timesharing either, nobody to pass it on to.


Sent from my iPad using Tapatalk
 

CalGalTraveler

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I have never interacted with Westgate but from many Tugger comments I would be very wary of any timeshare purchase from them. Do a search on Tug for Westgate. Also look around for resale values for what you are buying. People might be giving them away.

Educate yourself on timeshares using TUG and if you still want to buy, don't buy from the developer. Buy resale because a developer deal is never better.
 

Passepartout

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Why not just keep what you have? Wastegate will NEVER STOP trying to upsell you for the 'next great thing'. Stick around TUG. Learn about other systems than Wastegate, then you'll be a more informed consumer.

P.S. if you DO consider buying a TS, Resale is the ONLY way to go.

Jim
 

Cathy Rosen

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The reason I am considering buying directly from Westgate is because of the $5,000.00 equity that I already paid for with my vacation club which brings the timeshare cost down to just below $8,000. Its an Elite membership which gives me a trade value of other Elite properties through Interval. I just talked to Interval on the phone and found that besides the low $189.00 exchange fee for a 1 BR Elite rental, I could get an additional room for only $79.00. In fact as many rooms as I want at 79.00 each, although I'm thinking that's got to be subject to availability.
 

Cathy Rosen

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I have never interacted with Westgate but from many Tugger comments I would be very wary of any timeshare purchase from them. Do a search on Tug for Westgate. Also look around for resale values for what you are buying. People might be giving them away.

Educate yourself on timeshares using TUG and if you still want to buy, don't buy from the developer. Buy resale because a developer deal is never better.
So far, I haven't been able to find anything comparable. This is a brand new location and they no longer sell 1 BR suites. I got it because someone upgraded to a 2BR, so this became available.
 

Cathy Rosen

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Check your contract. There will be a rescission clause that tells you how many days from date of purchase you have to pull out. Read it carefully and follow every instruction to the letter, and make copies of your letter. Then send the rescission letter certified mail, return receipt requested.
I actually already sent in my rescission letter. I spoke with the owners department at Westgate and found they have received it but it has not been processed yet. If I want to change my mind, I can fax in a reactivation letter. Thats what I'm struggling with today. I like my vacation club, but I'm thinking this upgrade may be worth the money. I'm trying to guess how many vacations I would take to get my money's worth. Right now I pay 200.00 a year to use Westgate at $500.00 per week. For about 8,000.00 more, I still pay 200 a year in HOA fees, but I can exchange through Interval every other year for 189.00 per week and go anywhere in the world, or use my home location for no additional charge. I also get to exchange with other Elite properties through Interval. Thats attractive to me. The question is will I get my money's worth? I looked at the Interval website for the price of a suite in San francisco at 2,500.00 for a week. If I did not do an exchange and paid for that, the just under 8,000.00 would pay for about 3 of those kinds of vacations.
 

Cathy Rosen

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I know absolutely NOTHING about this program.

That being said, I have very valuable and sage advice: STOP. DO NOTHING.

There is NO vacation club or timeshare deal that won't be offered again, won't be available next week or can't be had in another form for the same or less money. (with a few minor caveats).

Wait until you are calm, have all the facts and can make an informed decision. I'm sure that many Tuggers will come to your aide and provide sage advice about the offer. In the meantime, don't do something you might regret.

Congrats on having the foresight and courage to discuss this before making the commitment.

good luck.
Thank you. The problem is that this isn't the first time I've been through this. I bought a timeshare once before from WG and then got out of it. But then I kind of regretted it. I've actually been wrestling with this for a long time. I think its because I really want one. I want to do a lot of traveling before I get too old and I'm thinking that a timeshare can actually save money.

I sweated bullets the first time when I dropped 5,000 on my vacation club. But I ended up very happy with it. I just don't know.
 

dominidude

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Thank you. The problem is that this isn't the first time I've been through this. I bought a timeshare once before from WG and then got out of it. But then I kind of regretted it. I've actually been wrestling with this for a long time. I think its because I really want one. I want to do a lot of traveling before I get too old and I'm thinking that a timeshare can actually save money.

I sweated bullets the first time when I dropped 5,000 on my vacation club. But I ended up very happy with it. I just don't know.
Are you aware that with 112.00/ month for 3 years you could easily get 10 to 18 weeks of vacation time, with no further commitment if you do not want to?
Just buy a RCI timeshare on ebay with low maintenance fees, 300 or less per year, preferably in Vegas, since you seem to enjoy going there. That should cost you less $100.
Then join RCI, around $100 per year, and use their "last call" rental program for weekly timeshare rentals costing between $200 and 300.
If you rent at an average of $250 per week, you should be able to squeeze 16 weeks out of the $4000 you would pay, fewer weeks if you pay more, more weeks if you pay less.
So, my advice is: drop your vacation club, and do not consider Westgate. There are way cheaper alternatives out there that get you the same thing.
 

PigsDad

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Look at it this way -- you are contemplating paying $8000 for 4 nights in a 1BR every other year. All that other stuff -- exchanging / last call type weeks are what any timeshare owner gets if they have and RCI or II account. For WAY less than $8000 (perhaps even free), you could get a 1BR (or larger) every year timeshare from somewhere else and still have similar perks through the exchange company.

The other reason to drop this "deal" is the reputation of Westgate -- do a few searches here and you will see how horrible that company treats its customers.

Personally, I would run from your deal, but it is up to you.

Kurt
 

CalGalTraveler

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Vegas has many units for sale or rent on Tug Marketplace or Redweek.com. Grandview and Tahiti are very nice resorts in Vegas and you can sometimes purchase them for free. You can trade these units on RCI.

Lastly, there is a woman on the Hilton Grand Vacations and this thread who may be renting out her Elara 1 bedroom soon. Read her thread about buyers remorse. Elara is a beautiful resort right on the strip. You may want to follow up with her to see if she will rent her unit to you.
 

tschwa2

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Technically I don't think those westgate partial weeks can exchange through II. They may have something in the contract that specifies for developer purchases they will deposit a full week. If you have to sell, the new resale buyer will have a $399 internal exchange fee and no access to exchange weeks through II. Since you don't have a full week to exchange through II, you would be relying on Westgate to deposit a full week into your II account to exchange and they can probably choose any week they want, so a low demand one bedroom in Las Vagas even in an elite resort is not going to have fabulous trading power- so that anywhere in the world scenario might not be happening especially if you are at all restricted to travel during high demand times.
 

Cathy Rosen

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Are you aware that with 112.00/ month for 3 years you could easily get 10 to 18 weeks of vacation time, with no further commitment if you do not want to?
Just buy a RCI timeshare on ebay with low maintenance fees, 300 or less per year, preferably in Vegas, since you seem to enjoy going there. That should cost you less $100.
Then join RCI, around $100 per year, and use their "last call" rental program for weekly timeshare rentals costing between $200 and 300.
If you rent at an average of $250 per week, you should be able to squeeze 16 weeks out of the $4000 you would pay, fewer weeks if you pay more, more weeks if you pay less.
So, my advice is: drop your vacation club, and do not consider Westgate. There are way cheaper alternatives out there that get you the same thing.
The thing that bothers me about buying from a resale is that so many people have trouble getting out of timeshares when they no longer want to pay HOA. If you buy a resale, aren't you ending up in the same boat? I believe (and I'd have to make sure) that if your timeshare is paid in full, Westgate will take it back if you no longer want to own it.

Can you get the elite grade timeshares? I was told that you can only get an elite if you exchange an elite.
 

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if you can justify the added cost of paying full retail as a value to you, that is a perfectly acceptable reason to buy retail from the developer!

that said, i think if you did a true apples to apples comparison you could find far better value for the amount you are looking to spend just about anywhere other than buying a full retail price westgate ownership.
 

TUGBrian

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The thing that bothers me about buying from a resale is that so many people have trouble getting out of timeshares when they no longer want to pay HOA. If you buy a resale, aren't you ending up in the same boat? I believe (and I'd have to make sure) that if your timeshare is paid in full, Westgate will take it back if you no longer want to own it.
unfortunately this is absolutely false...and your WG timeshare is worth exactly the same on the resale market as every other one being sold just like it.

while WG does "take back" some intervals, in nearly all reported successful circumstances the fee they charge to do this is staggering....and they certainly arent going to give you what you paid for it.


fact is when it comes to selling on the resale market, there is RARELY any difference at all between the folks who originally paid full retail, and those who also bought on the resale market.
 

TUGBrian

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I do believe there is a good bit of misinformation or confusion involved in that decision.
 

Cathy Rosen

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unfortunately this is absolutely false...and your WG timeshare is worth exactly the same on the resale market as every other one being sold just like it.

while WG does "take back" some intervals, in nearly all reported successful circumstances the fee they charge to do this is staggering....and they certainly arent going to give you what you paid for it.
Couldn't it be added into the contract?


is when it comes to selling on the resale market, there is RARELY any difference at all between the folks who originally paid full and those who also bought on the resale market.
So then when you buy resale, you still end up stuck with HOA fees that you might not be able to get rid of if you can't sell it? Is that correct?
 

Cathy Rosen

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Vegas has many units for sale or rent on Tug Marketplace or Redweek.com. Grandview and Tahiti are very nice resorts in Vegas and you can sometimes purchase them for free. You can trade these units on RCI.

Lastly, there is a woman on the Hilton Grand Vacations and this thread who may be renting out her Elara 1 bedroom soon. Read her thread about buyers remorse. Elara is a beautiful resort right on the strip. You may want to follow up with her to see if she will rent her unit to you.
Thanks. Once I join Tug, I will look for it.
 

TUGBrian

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Couldn't it be added into the contract?
i suppose anything could be added to the contract, however i doubt there is any contract out there with the stipulation in it that WG will unilaterally buy it back at the time of your choosing in the future.

you can easily see the resale value of westgate timeshares, there are plenty of them for sale on tug/ebay/etc...why would westgate ever pay you what you originally paid for your property when they could simply just buy up any number of completely free wg ownerships that litter the resale market?


So then when you buy resale, you still end up stuck with HOA fees that you might not be able to get rid of if you can't sell it? Is that correct?
buying retail or resale does not impact the fact that you are obligated to pay your annual maintenance fees as an owner.
 

Cathy Rosen

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i suppose anything could be added to the contract, however i doubt there is any contract out there with the stipulation in it that WG will unilaterally buy it back at the time of your choosing in the future.
You can agree to anything you want in a contract. Before you sign it is the time to negotiate.

can easily see the resale value of westgate timeshares, there are plenty of them for sale on tug/ebay/etc...why would westgate ever pay you what you originally paid for your property when they could simply just buy up any number of completely free wg ownerships that litter the resale market?
I just joined Tug and I took a quick glance at the WG properties for sale. I haven't found any with maintenance fees as low as 200.00 per year.

retail or resale does not impact the fact that you are obligated to pay your annual maintenance fees as an owner.
I understand that. My point is that when you buy a resale, you could end up stuck if you can't sell it. If you buy from the timeshare, you could negotiate something in the contract that they take it back if paid in full.
 
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