Rescinded Wyndham contract

[BroLife93]

My husband and I attended a sales presentation in Clearwater Beach on Friday. Since I had dragged my husband there, I fully expected him to say no, so I didn’t do my due diligence ahead of time to see if it would be a good deal. By the time we accepted and left, I already had the feeling we had made the wrong decision.

Rescission letter is written, but before I send out tomorrow, I’d just like someone to confirm that I made a wise decision. We were sold 126,000 points at the soon-to-be constructed downtown Atlanta vacation resort for $20,500. The sales manager “threw in” an additional 174,000 bonus points (to be used within two years) and VIP membership for one year. Maintenance fees were $73.48/month.

After seeing the resale market on this site and others such as eBay, we decided to rescind immediately, and do additional research before jumping into even the resale market. I’d hate to be out all that money and it just didn’t work for us.

 

[scootr5]

Your points have pretty much lost $20,000 in value once the recision period has passed. Buying developer makes sense for a (very) few people. 126,000 points will get you a week in a1 bedroom at many resorts. If you need a larger room you need more points. I like Wyndham a lot, very flexible with lots of resorts, but resale is the way to go.

 

[steve_solo]

IMO - rescind immediately. Those maintenance fees are just about $7/thousand points which is above average.
The perks are nice but not worth $20K
Even if you have a long term goal of becoming a permanent VIP, that is not the property to buy at those fees.
Pick up a free resale deed at a decent MF - some are less than $5/thousand - and see if you like it.

 

[rickandcindy23]

Glad you are going to rescind. Wyndham points are pretty worth zero $ on the resale market.

 

[simpsontruckdriver]

IF you really like Wyndham properties, like others said, buy a resale with enough points for you to stay a week at a favorite area per year. If you think you'll only do it every other year, buy an EOY resale, very cheap. Then, buy more points as needed. And DO NOT go to any sales presentations, you'll learn more here than from a sales-minded Wyndham (or other timeshare system) person.

TS

 

[55plus]

Eventually you realize timeshare sales weasels lie. They will tell you anything they need to to make a sale, but nothing they promise you will end up in the contract they want you to sign.

 

[jwalk03]

Rescind now, and then do research to make an informed decision and if you decide Wyndham is a good fit for you- BUY RESALE!

 

[55plus]

Saving $20K will allow you to invest in precious metals, such as Smith & Wesson, Colt, Browning, Henry, Ruger, etc.

 

[rickandcindy23]

Saving $20K will allow you to invest in precious metals, such as Smith & Wesson, Colt, Browning, Henry, Ruger, etc.

Is this to scare off the next salesperson?

For $2,000, you could have bought the Wyndham Shearwater with 400K points that was on ebay. I was even tempted and already own two. The fees are very low for that one, too, and it's Kauai, and it's ocean view from every unit. Love that one.

 

[rickandcindy23]

That listing sold for $2,147.00 That was a bargain. Love that resort, my favorite next to Hono Koa on Maui.

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