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RCI Points Membership

forrestbrooke

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I'm a newbie to this forum too, so please excuse me. We just bought an RCI points membership. I'm not sure we want to keep it. I don't understand even half of what I've been reading here - so many acronyms! In any case, if we didn't want to keep it, how would we go about getting rid of it? We make monthly payments on it, and are committed to doing so for 10 years! Any suggestions would be most welcome!
 

JudyS

TUG Member
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Hi, Forrestbrooke.

We'll need some more information to help you. You said on another thread that you bought at Georgian Manor, is that right? Where is that -- the US or Canada?

How much was the purchase price? When you talk about "monthly payments," are those payments towards your original purchase price? How much are these payments? What was your down payment, and what is the interest rate?

You mentioned on another thread that you bought last summer. You are probably well past the rescission period (it's usually just a few days), and can not easily get out of this contract. You can ask the resort if you can "walk away," (they keep what you've spent so far, plus get the timeshare week back) but they will probably say no. Refusing to make payments can mean a substantial hit to your credit score (although that may be less of an issue in Canada than in the US.)

Unfortunately, if you owe money on the original purchase price of this timeshare, you will not be able to give it away to another owner. Even paid-in-full timeshares are often hard to give away right now, due to the poor economy in much of the world.

If you are able to make the payments, you will probably need to do so until the timeshare is paid off. Your original purchase price is probably wasted.

The good news is that you've now found TUG. People here can help you make the most of the timeshare that you own. Many members here overpaid for their first timeshare, if that's any consolation.
 

AwayWeGo

TUG Review Crew: Expert
TUG Member
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Location
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Resorts Owned
Grandview At Las Vegas

[triennial - points]
Giving Away RCI Points Timeshares.

In any case, if we didn't want to keep it, how would we go about getting rid of it?
Last year we gave away two -- 2 -- perfectly good recently acquired RCI Points timeshares that we no longer wanted to keep.

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