Please help! Should I rescind?!

[AFELLER32]

We are on a vacation at Orange Lake in Orlando and went to a timeshare presentation and ended up purchasing 100000 points after a 4 hr sales pitch that was supposed to be a hour and a half. The points cost $19000 with maintenance fees of $880. We take a lot of vacations and it seemed like a good deal and would save us money over time. The biggest reason for purchasing was the unlimited last calls and cash vacations for 90% less then what they normally go for. All the salespeople we talked to said they had points through Hgi and take many vacations a year all over the world. I have no idea how timeshare points work really. Please help!

 

[vacationtime1]

This is easy: rescind. Orange Lake can be purchased on the secondary market for pennies on the dollar (yes, there is a secondary market, although they obviously don't want to talk about it at sales pitches).

Also, take some time and learn about how points/systems work before buying anything, anywhere. My personal recommendation is to rent a few times before you buy anything. Prices aren't going up no matter what they tell you.

 

[AwayWeGo]

Nothing that the timeshare companies sell at retail pricing is worth the money, & that goes for Orange Lake along with all the rest.

Buy timeshares resale. Save thousands of dollars on exactly the same thing as full-price, or the equivalent, or something even better.

Remember -- There Is No Such Thing As A New Timeshare.

No matter how much or how little the owner pays, by the time the new owner shows up & checks in, other people with already have been staying right there in the new owner's unit previously. That's used-used-used any way you shake it.

In a sane world, paying new prices for used items is a non-starter.

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

PS: Actually, I did know a guy who said he once stayed in a brand-new timeshare unit. He was the very 1st occupant of a new unit in a recently completed timeshare condo building. As it happened, he was not the owner of the unit or the week, but happened to be staying in the brand-new unit on RCI exchange. After he checked out, the unit was used-used-used for all subsequent occupants, owners or renters or exchangers mox nix.

 

[AFELLER32]

So

This is easy: rescind. Orange Lake can be purchased on the secondary market for pennies on the dollar (yes, there is a secondary market, although they obviously don't want to talk about it at sales pitches).

Also, take some time and learn about how points/systems work before buying anything, anywhere. My personal recommendation is to rent a few times before you buy anything. Prices aren't going up no matter what they tell you.
[/QUOTE
Thank you for your reply. At the presentation I was told prices were only going to go up after COVID is contained and was told I could not get last call and cash vacations through Rci if I left the meeting without buying. They said that I could only be offered last call one time only. I did not purchase to go to orange lake. I purchased for the chance to go on 4-5 last call vacations a year which is possible with everything they were showing me on the site they use. I was looking at the resale market and found 80000 rci points for $500 but do not understand if I can use those for last call vacations or if they are only good for maybe one vacation a year.

 

[R1964]

Rescind right now and look for a resale you will save $1000s. There's a fixed week Orange lake right now on Ebay for $5.50.

 

[Iggyearl]

You really didn't "purchase" a timeshare. You were "sold" a timeshare. Big difference. Realize that 50% of the cost of a retail timeshare is from the marketing, advertising, commissions, and gifts that the developers have to use to sell the product. Your "mistake" happens all the time. If you really want to own a timeshare, you should do so after studying the true details. REALIZE - timeshares are a perpetual product. And once the rescission period is up, you own it and it is worth 10 cents on the dollar. You came here because you doubted yourself. Rescind and stay - and learn about the product. If you want to buy, you can always get the same deal next week, next month, next year. Be a savvy consumer. You have 10 days from your purchase to rescind.

 

[vacationtime1]

Last Call is available to any RCI member; it was not a "today only" thing.

Please bear in mind that the prime properties that are available on Last Call during the Covid pandemic are unlikely to be available during normal times.

 

[emeryjre]

Rescind unless you are so wealthy the money you are spending on a developer purchase doesn't matter. By rescinding, you are trading time to educate yourself and save money vs the time you spend doing something else.

 

[Karen G]

I have no idea how timeshare points work really. Please help!

Because you don't really know what you bought and how it works, don't miss this one opportunity you have to rescind your purchase and educate yourself. Look closely at your purchase contract for information on how to rescind. Follow the instructions exactly. Compose a simple letter stating you're exercising your right to rescind, have everyone who signed the purchase contract sign the letter, send it to the address given in your contract, and send it immediately by certified mail. Keep a copy of your letter and the receipt from the post office showing that you sent it within the specified time. You have 10 calendar days in Florida from the date of purchase in which to rescind. Once this 10-day period passes, you lose that right to rescind and you're stuck with what you bought.

Rescind NOW and do some research. Stick around TUG and learn all you can about how timeshares work and the best way to buy and use them. Don't miss this one chance you have!

 

[CPNY]

We are on a vacation at Orange Lake in Orlando and went to a timeshare presentation and ended up purchasing 100000 points after a 4 hr sales pitch that was supposed to be a hour and a half. The points cost $19000 with maintenance fees of $880. We take a lot of vacations and it seemed like a good deal and would save us money over time. The biggest reason for purchasing was the unlimited last calls and cash vacations for 90% less then what they normally go for. All the salespeople we talked to said they had points through Hgi and take many vacations a year all over the world. I have no idea how timeshare points work really. Please help!

If you want to throw 19K down the drain, keep what you have. If you want to save the 19K, learn how timeshares work, learn which club is best for you, how many points or weeks you’ll need, then stick around here and learn from the experts. In short, RESCIND RESCIND RESCIND ASAP. Be sure to do it the correct way. Follow the instructions Carefully and make sure whoever signed the contract signs the rescission letter. Send it to the address on the contract and send it certified mail with RRR USPS! Welcome to TUG and tell us where and when you like to travel so we can help get you in the right ownership

 

[TUGBrian]

congrats on finding TUG in time to save $19 grand!

 

[elaine]

make sure to follow rescission steps perfectly. whether you hand deliver a letter or not, follow up tomorrow with a certified letter with receipt form USPS not fed ex or UPS. Some salespeople have "lost" letters and sometimes the address is not the sale office for rescission. also mail back (or turn in to office) any marketing materials/DVDs/etc.

 

[AFELLER32]

Thank you everyone for your helpful information. I plan on rescinding. I am very interested in purchasing points for future vacations, but after checking secondary market I found that they are way cheaper there. Is this the best spot to learn about timeshare points? I would like to travel to Europe and Hawaii in my lifetime but would never spend as much money as the cost for one vacation. Is a point based timeshare the best way to do this? I appreciate all of you so much!!!

 

[TheTimeTraveler]

When rescinding, just be sure that any buyer who signed the original purchase documents also signs the rescission paperwork.

ONLY use USPS Certified Mail when sending your rescission letter, and be sure to use an accurate address to rescind. Get a postmark on it and RETAIN the mailing receipt to prove (if necessary) that you acted within the legally allowed time.

Allow as long as 45 days for any refund. They don't have to acknowledge receipt of your paperwork BUT they do have to act on it.

Welcome to TUG and congrats on your smart move to rescind!



.

 

[CPNY]

Thank you everyone for your helpful information. I plan on rescinding. I am very interested in purchasing points for future vacations, but after checking secondary market I found that they are way cheaper there. Is this the best spot to learn about timeshare points? I would like to travel to Europe and Hawaii in my lifetime but would never spend as much money as the cost for one vacation. Is a point based timeshare the best way to do this? I appreciate all of you so much!!!

Want Hawaii? Buy a vistana or Marriott. Look for a mandatory resort somewhere with low maint fees. If you were willing to drop 19K on orange lake...... spend that on Westin kierland villas in Arizona and use the star options (points) to book Westin kaanapali.

Not much in terms of timeshares in Europe. You’re much better off just booking vacation rentals. I’ve had amazing a success with vacation rentals in Europe. Great flats in wonderful cities extremely inexpensive.

 

[AFELLER32]

I also do not want to be held to one resort...I like to travel different places every time I vacation. That’s why I have cruised pretty much every vacation I have been on. You get to go to so many places but only get to spend hours there. There are many places I have been that I would like to spend a week at. Belize, Aruba, Panama Canal, Cabo. Is buying timeshare points not the best way to do this?

 

[CPNY]

I also do not want to be held to one resort...I like to travel different places every time I vacation. That’s why I have cruised pretty much every vacation I have been on. You get to go to so many places but only get to spend hours there. There are many places I have been that I would like to spend a week at. Belize, Aruba, Panama Canal, Cabo. Is buying timeshare points not the best way to do this?

Maybe you should hang around here and rent units. It may be better for you.

 

[R1964]

I also do not want to be held to one resort...I like to travel different places every time I vacation. That’s why I have cruised pretty much every vacation I have been on. You get to go to so many places but only get to spend hours there. There are many places I have been that I would like to spend a week at. Belize, Aruba, Panama Canal, Cabo. Is buying timeshare points not the best way to do this?

It depends on the system you buy into and how many points you own. You need to do alot of research first and ask questions. I've been timesharing for over 30 years and have used my points all over the Carribbean, Mexico, USA and Europe. Just remember buy resale.

 

[AFELLER32]

It depends on the system you buy into and how many points you own. You need to do alot of research first and ask questions. I've been timesharing for over 30 years and have used my points all over the Carribbean, Mexico, USA and Europe. Just remember buy resale.

So where did you get your points from?

 

[R1964]

So where did you get your points from?

Sent you a private message.

 

[CPNY]

So where did you get your points from?

eBay, here the tug marketplace, timesharenation, SMTN, eBay, redweek, Google resales, my resort network. A ton of places

 

[LannyPC]

I echo CPNY's advice above. Try renting first to see if timesharing is for you. Besides, with Orange Lake and many other resorts in Central FL, you can often rent for less than the MFs.

And the next time you do go to a resort and you are offered a gift to attend a presentation, just remember what happened to you at this presentation.

 

[Gypsy65]

When looking for secondary make sure that the unit is actually points if that is what you want
Not all secondary units are pints. They may be listed as such but in fact are full weeks which is a different story

Learn what you want and ask ??? Before jumping on a $5 emac sale thinking it’s 200,000 points but in all actuality is a full deeded week that can’t be split

 

[rrsafety]

There are many places I have been that I would like to spend a week at. Belize, Aruba, Panama Canal, Cabo. Is buying timeshare points not the best way to do this?

You could look at Hotels.com for resort options at all those places.

 

[abched]

Thanks for all the tips