[OLD - 2009] Wyndham Bans Ebay Sales/Purchases?

[timeos2]

Why ask if you know?

Well, I spoke to him yesterday, and I don't think he will rescind. He told me they "upped" the offer to a full year with no interest on the loan. Now, I don't know what kind of moral person sells a 10 year mortgage for a non-necessity to a 79 year old, but there you are. He realizes that there is a high probability (I'm sure we'd all set that at 100%) that he'll be ripped off, but he seems content with the deal if it goes through as he understands it.

You did all you could. Don't you love it when people ask questions, look for advice, want to know what to do then reject it all because they know better? Why do they ask? I assume it's to get their view confirmed and when it isn't they act like they'd been dissed. He'll regret this choice but try not to rub it in - just change the subject if it ever comes up.

 

[AwayWeGo]

Sometimes The Best We Can Do Is Leave Well Enough Alone.

Well, I spoke to him yesterday, and I don't think he will rescind. He told me they "upped" the offer to a full year with no interest on the loan. Now, I don't know what kind of moral person sells a 10 year mortgage for a non-necessity to a 79 year old, but there you are. He realizes that there is a high probability (I'm sure we'd all set that at 100%) that he'll be ripped off, but he seems content with the deal if it goes through as he understands it.

While a bunch of us timeshare fans were sitting around shmoozing in the lobby of Wyndham Bonnet Creek in Orlando FL 1 evening last January, I met a retired Iowa farmer who was pleased as punch that he had just concluded an Equity Consolidation deal with Wyndham taking his ownership up to 1,000,000 FairShare Plus timeshare points -- all bought at full freight.

I said nothing. No sense raining on the guy's parade.

So it goes.

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

 

[carlbarry]

You did all you could. Don't you love it when people ask questions, look for advice, want to know what to do then reject it all because they know better? Why do they ask? I assume it's to get their view confirmed and when it isn't they act like they'd been dissed. He'll regret this choice but try not to rub it in - just change the subject if it ever comes up.

LOL I'm a lawyer--it happens all day long.

 

[carlbarry]

While a bunch of us timeshare fans were sitting around shmoozing in the lobby of Wyndham Bonnet Creek in Orlando FL 1 evening last January, I met a retired Iowa farmer who was pleased as punch that he had just concluded an Equity Consolidation deal with Wyndham taking his ownership up to 1,000,000 FairShare Plus timeshare points -- all bought at full freight.

I said nothing. No sense raining on the guy's parade.

So it goes.

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

Slightly more than the 1 million + points fetched on ebay a couple of weeks ago, $8,555, I'd wager.

 

[PerryM]

From my experience that is not true. Wyndham certainly screwed around with the reserving of deeded weeks at one of the resorts I used to own. Wyndham took over the management of the resort 4 or 5 years ago. It is an all floating deeded weeks resort located on the Central California coast. I was an original owner from the day the resort opened over 20 years ago. All weeks were classified as "red" so you could reserve any week during the year.

Owners were allowed to reserve their week(s) 13 months in advance. I always reserved a prime summer week, typically July 4th. I never had any trouble getting what I wanted as long as I reserved at least 8 months in advance. The first year that Wyndham took over, I tried to reserve the July 4th week 12 months in advance and I couldn't get it. In fact I was lucky to get any prime summer week. The next year I called to reserve my week exactly the minute that I was allowed to 13 months in advance. Again there was no July 4th week available. I asked the reservations agent what was going on and why no weeks were available at the moment we were allowed to reserve. In fact I couldn't reserve any summer week. I kept calling back each week and after 4 weeks I was able to get a summer week. I asked again, why no weeks are available. The agent told me that only 2 weeks were released for reservations. Right then I knew that Wyndham was definitely playing games. All the units ( ~200 ) should be available each week when they become eligible to be reserved. Wyndham must have replaced the agents as they were very blunt and quite rude which was completely the opposite of the previous management company.
The net result is, I sold that timeshare later that year.

On the other hand, my other resort where I own, Gaslamp Plaza Suites, is also an all floating deeded weeks VRI resort in downtown San Diego. I have owned it since the day they opened several years ago. VRI has been great to work with. We can reserve any week we want up to 24 months in advance and we do NOT have to prepay the M/F. I have never had any trouble getting the July 4th week which I always use for exchanging. The agents are pleasant and helpful.

So much depends on the state and what does or does not appear on the deed. All I'm saying is that use of deeded weeks should be spelled out at the time of purchase and that usage is fixed in writing.

ANYTHING else the developer cooks up is theirs and the small print always says they can change it to fit their needs anytime they want.

So if Wyndham wants to limit resales of Points they have every right to do so - the folks participating agreed to that fact.

So I can believe Wyndham interfering with resales of their Points system - its their system.

 

[Bill4728]

Originally Posted by Carlberry
They (Wyndham) told him, "Let your friend buy all he wants. We are no longer honoring points purchased on ebay When he calls to use them, we will tell him we do not accept those points." !!!!!!!

I just realized what the statement was about : Wyndham isn't talking about a week at a Wyndham resort which generates points. They are talking about the rental/transfer of one owners points to another wyndham owner.

So Wyndham can not tell someone that if they buy their week from a current owner (via ebay or what ever) that they can't use the points from it. BUT wyndham can and does say that you can no longer transfer points from one owner to another owner (via buying points on ebay)

It just so slimy that the salesmen has twisted the policy to make it sound like you can't buy a Wyndham TS from the current owner, which of course is absolutely a lie!

 

[carlbarry]

I just realized what the statement was about : Wyndham isn't talking about a week at a Wyndham resort which generates points. They are talking about the rental/transfer of one owners points to another wyndham owner.

So Wyndham can not tell someone that if they buy their week from a current owner (via ebay or what ever) that they can't use the points from it. BUT wyndham can and does say that you can no longer transfer points from one owner to another owner (via buying points on ebay)

It just so slimy that the salesmen has twisted the policy to make it sound like you can't buy a Wyndham TS from the current owner, which of course is absolutely a lie!

Good point! When confronted with the lie, the salesweasel can say, "I was talking about points rentedfrom another member." But, of course, they are trying to give the impression that points purchased, i.e., deeded property/points, will no longer be honored.
The idea that you would rent points on ebay and then call to use them is silly, of course, because the transfer has to be done through Wyndham, with them showing up in your account. Obviously, Wyndham is no longer doing said transfers.

 

[John Cummings]

So much depends on the state and what does or does not appear on the deed. All I'm saying is that use of deeded weeks should be spelled out at the time of purchase and that usage is fixed in writing.

ANYTHING else the developer cooks up is theirs and the small print always says they can change it to fit their needs anytime they want.

So if Wyndham wants to limit resales of Points they have every right to do so - the folks participating agreed to that fact.

So I can believe Wyndham interfering with resales of their Points system - its their system.

Wyndham was not the developer. They took over the management. Glen Ivy was the developer and the deed does spell out everything. This has nothing to with points or anything else other than when they took over, all of sudden there weren't weeks available to be reserved.

 

[stognietti]

I was a VLO for wyndham for a few years. They cannot block you from using the points purchased from a third party. What they will try to do is to keep you from getting the extra stuff they tout as being so valuable, bonus weeks etc which is all huey anyway

 

[sandkastle4966]

there is little chance of him getting to Aruba.....high demand, little deposited. Wyndham deposits dont pull much aruba....trust me I know, that is why I now own 3 weeks in Aruba !!!

Rescind, rescind rescind. that fabulous deal will be available in 3 months after he has thought about it and researched his options.

 

[glen4cindy]

I was a VLO for wyndham for a few years. They cannot block you from using the points purchased from a third party. What they will try to do is to keep you from getting the extra stuff they tout as being so valuable, bonus weeks etc which is all huey anyway

What is VLO? I aso saw other abbreviations that I don't understand. Since I am a newbie, where can I get a list of commonly used abbreviations?

Thanks.

 

[Goofyhobbie]

glen4Cindy asked:What is VLO? I aso saw other abbreviations that I don't understand. Since I am a newbie, where can I get a list of commonly used abbreviations?

The poster when using VLO may have been referring to a title such Vacation Loan Officer at Wyndham.

Regarding your question about abbreviations or acronymns there is indeed a list in the TUG advice section. A direct link is provided here:

http://www.tug2.net/timeshare_advice/timeshare_glossary.htm

 

[mtribe]

I would say, right there in the sales meeting room. Plesantly, but loud enough to the heard "are you telling me that if I buy this today and then decide it is not good for me I can not sell it? I thought you just said it was a deeded week and I can give it to my kids, or sell it or what ever? Will you please put in writing that I can not use points purchased on ebay! I would like to send that in to the BOD for clarification. He will quickly change his tune.

 

[carlbarry]

Good idea! I'm going to Bonnet Creek for my birthday in September, and if they make me a good enough offer, I'll attend the "owner's update." I intend to tell them I wouldn't buy from them, as I can buy more points, as I did the 49,000 I own now, on ebay. It will be fun to hear their response.

 

[theo]

P.T. Barnum was right...

....he seems content with the deal if it goes through as he understands it.

Then by all means allow him him to choose to voluntarily step on his own "appendage"...

There is a sucker born every minute; P.T. Barnum had it right.

 

[carlbarry]

Yes, I spoke to him yesterday. He again said Wyndham gave him a deal he couldn't refuse: 150,000 points for only $36. I asked him what the actual cost was. Again, he answered $36, added to his financing. I then managed to get out of him that it was actually $36 per month plus $7 MF per month for 10 years. I then said that for $400 he could have bought the same thing on ebay. His answer was that he doesn't care, it only costs him $36 (!), and it will be his sister's kid's problem anyway (i.e., when they inherit it and have to keep paying).

 

[ecwinch]

Yes, I spoke to him yesterday. He again said Wyndham gave him a deal he couldn't refuse: 150,000 points for only $36. I asked him what the actual cost was. Again, he answered $36, added to his financing. I then managed to get out of him that it was actually $36 per month plus $7 MF per month for 10 years. I then said that for $400 he could have bought the same thing on ebay. His answer was that he doesn't care, it only costs him $36 (!), and it will be his sister's kid's problem anyway (i.e., when they inherit it and have to keep paying).

Something in the math does not add up - in particular the m/f. That is $84 m/f per year for 150k.

They can sell the pts for whatever they want, but they cannot discount the m/f. Unless it is $70 per month. Then we are more in the ballpark.

 

[carlbarry]

I would imagine that the MF would be low for the new Washington, D.C. Wyndham, but still not that low. Unless it's a temporary figure that will go up after the new facility opens.

 

[Talent312]

There is a sucker born every minute; P.T. Barnum had it right.

Point of Clarification:
Barnum never used that phrase. It was said by a competitor, David Hannum, in reference to the crowds who continued to pay to see Barnum's copy of the "Cardiff Giant," even after it (and Hannum's original) were proven to be fakes. -- See: www.historybuff.com/library/refbarnum.html

 

[Jya-Ning]

Yes, I spoke to him yesterday. He again said Wyndham gave him a deal he couldn't refuse: 150,000 points for only $36. I asked him what the actual cost was. Again, he answered $36, added to his financing. I then managed to get out of him that it was actually $36 per month plus $7 MF per month for 10 years. I then said that for $400 he could have bought the same thing on ebay. His answer was that he doesn't care, it only costs him $36 (!), and it will be his sister's kid's problem anyway (i.e., when they inherit it and have to keep paying).

Sounds like he know what he is doing, since even at 36 per month, he pays like 4,000 total. That is the cheapest 150k I heard from developer purchase. I will let hime goes unless you want the same deal from his salesman.

Jya-Ning

 

[carlbarry]

Yes, I didn't look at it that way. Normally, they'd want $25,000! All the more reason to suspect there is something wrong with his understanding of the deal.

 

[carl2591]

a fool and his money are soon parted.. in a year or two this will all come back to him like a ton of bricks.. only then will he understand all you tried to tell him about resale and to resend the deal..

guess some have to learn the HARD way.. and he will learn..


my guess is the $36 is MF monthly not the payment.. man this is going to hurt..

 

[carlbarry]

Well, even $36 per month MF for 300,000 points is suspiciously low.

 

[Carol C]

Well, even $36 per month MF for 300,000 points is suspiciously low.

I want that deal! Even for 154K pts at the new Wyn in DC that would be a good deal at $36/mo. But I even doubt that figure, I'm betting it's far fewer pts for $36/mo. He really needs to re-read the contract, but of course by now it would be too late to rescind.

P.S. Somebody from TUG needs to go to a Wyn presentation to get the skinny on the actual range of prices they're asking for the new Wyn in DC. I would sure love to know!

 

[carlbarry]

He had 150,000 points at Atlantic City. He went to the "owner's update" to get $50 in free chips while in Atlantic City. He stayed THREE DAYS at the sales pitch (!!!!) until they finally gave him this wonderful deal of transferring to D.C. and getting an additional 150,000 all for only $36 more per month on his financing.