Pricing question

[flmgrip]

Thank you for this forum, I have found it in time to quite likely rescind my just purchased timeshare.

Is this deal really really bad, really bad or just bad lol?

Wyndham ?silver level?, 200000 points, vip for 2 years, perks for 1 year free. rci for life, 300000 bonus points to be used within 2 years, some other "free" rci vacation for $300 redemption fee. Price after "discount" $29500 plus closing cost.

Thanks for your input and forum!

 

[Jayham78]

Check out ebay. They have 700.000 points for $399. AMD 840,000 points for $3,800. And 37 others for sale at this moment

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[Jayham78]

I would suggest to educate yourself more so that you know exactly what you are needing


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[cman]

There is no timeshare on this planet worth $29,500. It's not a bad deal, it's a terrible deal. Just do a simple financial analysis, calculate a modest 5% annual MF increase and look at how much the deal will cost you in 5-10 years. Also keep in mind that this is a timeshare. There is no resale value. Please check out the rental section of this board in addition to sites like redweek.com for the properties you're interested in. I think you'll find that renting will be a hell of a lot cheaper without the lifetime obligation. Not only is this a bad idea, it's financial suicide. You can get the exact experience by just renting. Don't do it.

I'd suggest you google "timeshare cost calculator". You'll find numerous sites that will help you in assessing your "total" cost. Just looking at the offer, your 5 year cost would be well over $50K and your 10 year cost would approach $100K. This is after we do the TVM calculation and account for opportunity cost.

After you've calculated your projected cost, check out the rentals for your desired locations.

 

[dgalati]

Thank you for this forum, I have found it in time to quite likely rescind my just purchased timeshare.

Is this deal really really bad, really bad or just bad lol?

Wyndham ?silver level?, 200000 points, vip for 2 years, perks for 1 year free. rci for life, 300000 bonus points to be used within 2 years, some other "free" rci vacation for $300 redemption fee. Price after "discount" $29500 plus closing cost.

Thanks for your input and forum!

Horrible deal. You can rent alot of vacations for about the cost of maintenance fees without figuring in the 29k sunk cost

 

[silentg]

Hope you recinded?

 

[flmgrip]

Hope you recinded?

yes, I am drafting the letter as we speak thru the help of this forum, so thank you very much for the information.

I consider myself savvy and I told myself that I won't sign up throughout the presentation. as we all know, the entire thing took twice as long as promised - it was hard work for 4 show tickets to "mindfreak" lol … what made me sign up despite my original plans, was that the maintenances fees were low at $115.- per month.

anyway, back at the hotel (and a very similar situation happened 15 years ago) I started crunching the numbers more and looking for reviews and googled things as is "wyndham a good timeshare" etc … tons of horrible reviews in regards to customer service, property availability and treatment of customers etc... the cost was part of my decision to reconsider, but just as much the availability of property. currently I can only plan 3-4 months out at best... so would I really get the property I want at my desired timeframe. and currently my vacation timeframes are not very flexible ontop of that.

I will use this forum and other resources to properly inform myself without "instant decision" sales pressure. I think a timeshare might be something for us once we get closer to retirement with more flexible dates and more free time (hopefully!) and it seems once i'm ready to move forward I can easily and cheaply pickup a resale at that point.

thanks again everyone for your input and helping to confirm my decision to recind!

 

[flmgrip]

quick follow up question. my option to cancel is to send a letter to a PO box OR a mailing address ...does it matter which one or mail it to both ?

thanks!

 

[vacationtime1]

quick follow up question. my option to cancel is to send a letter to a PO box OR a mailing address ...does it matter which one or mail it to both ?

thanks!

If the instructions say "or", then either is okay. Otherwise send to both. Use certified mail.

Make sure everyone who signed the purchase contract signs the rescission letter.