RCI Exchange - Newbie

[Krishna383]

Hi - I just signed up for a timeshare. The agent who sold it mentioned that it would cost me $819 to exchange an rent a week in RCI. However when I look at the terms in the documentation, it is not clear on this. I am still in cancellation window and this is one of the key reason for my purchase. Would be great if you can help me evaluate this.

Attached are the RCI terms I signed. Few questions:
1. It says only 2 years of membership fees is included. What are typical RCI membership fees per year?
2. I was given 280 exchangeable nights (40 weeks). Can I pay the membership fee and deposit management fee only the years I would use?
3. What does 11 exchange units mean? Would it really get me 7 days in a 5 or 4 star resort? (Is it good or decent or bad)
4. If I understood, I have 3 fees to pay if I exchange 7 days - Annual membership fee (?), deposit management fee ($250), exchange fee ($259). Are there any other fees I am missing.
5. Any tips on managing these fees effectively

 

[Luanne]

Do you have a Weeks membership or a Points membership? The fee you were quoted of $819 sounds really high to me. I am a Weeks member so those are the fees I am familiar with. A subscription fee is $109/year (but if you buy multiple years that goes down). The exchange fee is $259. I don't know what a "deposit management fee" is.

 

[sue1947]

I am still in cancellation window and this is one of the key reason for my purchase. Would be great if you can help me evaluate this.

Rescind the purchase while you can. The window is short and may not allow time for you to do all your due diligence. Whatever timeshare you signed up for, they will be happy (ecstatic) to give you the same deal later if you so choose.
Looking deeper at the doc, this isn't RCI. It is a Mexican(?) 'travel' company using RCI's name to gain credibility. Get out now if you can.
trip advisor review

 

[Krishna383]

Thanks. Its weeks.

What do you think is 1 week with 11 Exchange power units worth? (Just a ball oark or valuation or recent reedemptions)

 

[Luanne]

If your unit is only getting 11 TPUs (Trading Power Units) that is pretty bad. 11 TPUs won't get you much of anything. And as to how much it's worth? Personally I would say it's worth nothing.

One of the timeshare units I own usually gets around 27 TPUs and the other one gets around 36.

 

[Passepartout]

Thanks. Its weeks.

What do you think is 1 week with 11 Exchange power units worth? (Just a ball oark or valuation or recent reedemptions)

RCI Trading Power is a number from single digits to about 60 (Like Disney penthouses in peak season) 11 is not too good. For comparison, RCI gets 7 or so for a mud season 1 bedroom on what's called 'Last Call' which are simply leftovers that no one wants.

Do yourself a favor and rescind. NO MEXICAN hotel timeshare is worth what you've paid. Like Sue, above here thinks, they are just pandering on the RCI name to gain credibility.

Jim

 

[HudsHut]

This Lifestyle Experience is a bad idea. Rescind immediately.
You don't know what you bought. That is the enough reason to rescind.

Rescind.
Then come back and let us help you determine whether timeshare will meet your vacation needs.

 

[Janann]

@Krishna383 Please read the reviews of Arrivia Inc --

Arrivia Inc | Reviews | Better Business Bureau® Profile

View customer reviews of Arrivia Inc. Leave a review and share your experience with the BBB and Arrivia Inc.

www.bbb.org

 

[Janann]

Yikes, I just saw @Krishna383's other post. The price of this package was $11,000!

Mexico Destination Club - Hotel Xcaret

We attended a presentation and ended up purchasing. Here are the details: Cost: $11,000 +$749 closing fee Validity : 20 years (10 years plus free renewal for another 10 years). Annual fee: $140 (No main fee just membership fee). Type: Pearl Benefits: - Member rates for Xcaret hotels for us and...

tugbbs.com

 

[VanX]

Cancel quick and keep reading here to learn more.
Those fees are just nuts and over $600 more than what I’ve seen of recent options.

There can be fees to deposit into RCI to be able to exchange.

RCI has exchange fees once you want to book a resort and increase annually - they are currently about 1/2 of what you’ve been quoted.

Some older timeshares can deposit weeks or points into RCI for free from their resort and many pay to be able to deposit - all RCI members pay the RCI exchange rate when booking and it’s a published annual amount that’s about 1/2 what you were quoted. There is also an annual RCI membership fee of around $200.

 

[Krishna383]

Just emailed to cancel. Unfortunately leaving Mexico right now. Will read more details on how to send written cancelation and mail tomorrow. I am on day 3 / business day 1 and they have 5 business days. Hopefully rescind will be smooth.

Thanks all for your help.

 

[Luanne]

Usually to rescind you have to send a letter within a certain amount of time. An email won't do it. Be sure to read the instructions and send the letter as soon as you can. It's good to send it registered, or with some kind of delivery notification.

 

[HudsHut]

Don't count on the email. Send a certified , return receipt letter from home when you get back.

 

[Krishna383]

Thanks!
I am in US (Seattle WA) now. Any idea what is a best way to send a certified mail to Mexico along with return receipt letter?

 

[Janann]

Thanks!
I am in US (Seattle WA) now. Any idea what is a best way to send a certified mail to Mexico along with return receipt letter?

Go to the post office and ask.

 

[HudsHut]

Since you are in Seattle, you should research WorldMark, once you have rescinded this purchase.

 

[gggllm]

rescind rescind rescind