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Retail or Resale?

readg1

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I need some advice. I purchased a Wyndham timeshare this weekend direct from the resort in San Antonio Texas. I got 115,000 points for $17,000. That seemed pricy but it was a lot less than their first 2 offers. When I got home yesterday, I seen that I can get resale Wyndham points for very little. I put an E-bay bid on a 154,000 point condo in Las Vegas for $97. I can still cancel my purchase in San Antonio since I am still within the 5 day "cooling-off" period. Should I cancel it and purchase the Las Vegas condo. I don't really care where my home condo is located. I want to travel around. The maintenance fees in Vegas are about the same as the fees in San Antonio. Any advice?
 

timeos2

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I need some advice. I purchased a Wyndham timeshare this weekend direct from the resort in San Antonio Texas. I got 115,000 points for $17,000. That seemed pricy but it was a lot less than their first 2 offers. When I got home yesterday, I seen that I can get resale Wyndham points for very little. I put an E-bay bid on a 154,000 point condo in Las Vegas for $97. I can still cancel my purchase in San Antonio since I am still within the 5 day "cooling-off" period. Should I cancel it and purchase the Las Vegas condo. I don't really care where my home condo is located. I want to travel around. The maintenance fees in Vegas are about the same as the fees in San Antonio. Any advice?
RESCIND TODAY! Take advantage of the tremendous value resale offers over the horrendously overpriced retail you got. It is your only chance - do it now! Then go ahead with the resale if you liked the Wyndham system as that can be/is a great value purchased at resale. Congratulations for finding this site & figuring out you would be paying too much from Wyndham.
 

brigian

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I bought 182000 points for $1. Imagine the nice car you can buy with the money you saved.
 

ronparise

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I did the same thing....we bought a 168000 eoy contract at Bonnet Creek. My wife was the first to break under the relentless pressure of the sales person, but she was also the first to learn the word rescind. We did and since then purchase 385000 points for a buck and free closing

Rescind!
 

AwayWeGo

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[triennial - points]
Rescinda-Sinda-Sinda.

Any advice?
Get out of it while you can.

Nothing that the timeshare companies sell at full freight is worth the money -- nowhere close -- & that goes for Wyndham points right along with all the rest.

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

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

joestein

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You should get out now. Even if you eventually decide you want to buy direct from Wyndham, you can always do that in the future. But at least this way you have time to consider your actions.

Good Luck!

Joe
 

readg1

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Out of The Contract - I Hope

I'm sending Wyndham my cancellation letter today. I am following the instructions on the contract and sending the letter registered mail with a return receipt. Hopefully it is as easy as that and I'm out. Meanwhile, I purchased the 154,000 Las Vegas points on E-bay for $95. The total with the closing costs and the maintenance fees was $1021. That's a long way from the $17,000 I almost spent. I'm so glad I found this site. I have a lot to learn about timesharing.
 

am1

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Looks like you were quick to act again. Hopefully the Las Vegas contract works out. It may begood to learn some more about Wyndham before buying any more no matter how good the deal is. A lot of what the salesperson told you may not be correct.
 

timeos2

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I'm sending Wyndham my cancellation letter today. I am following the instructions on the contract and sending the letter registered mail with a return receipt. Hopefully it is as easy as that and I'm out. Meanwhile, I purchased the 154,000 Las Vegas points on E-bay for $95. The total with the closing costs and the maintenance fees was $1021. That's a long way from the $17,000 I almost spent. I'm so glad I found this site. I have a lot to learn about timesharing.
Good moves so far. Now sit back & find out how to best utilize those new resale points (the arts of banking, pooling, trading, renting and borrowing to maximize value) before buying anymore. You did well in realizing the basic value of Wyndham points - maybe one of the best values in all of timeshare at resale prices - and that you had been bamboozled into an unwise purchase at the sales festival. Now you need to reap the benefits of resale and learn exactly how the Wyndham system & it's interaction, recently revamped and not for the better, with RCI works. It takes some time so don't rush anymore just figure out what you have, what you'll need and then look at any more purchases you feel are necessary. We've found that owning about 70-80% of what we use in Wyndham points each year was the sweet spot balancing fees vs returns. More and more renting plays a big role in squeezing out maximum return so watch for deals there too. Enjoy your new vacation options.
 

GTStone

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When is it a value

I would concur with one caveat ! If you are buying with the intent of trading points so you can go anywhere, then go as cheap as you can, BUT be sure the offer is legit and has not hidden attachments ( ie. past due fees with liens, etc. )

I do disagree with the "nothing is worth the retail price" because sometimes its the only way you get what you really want. A lot of people here recommend that your primary goal should be to buy at a location where you want to go every year. In some cases you will find available properties discounted, but other times, they just are not available. If you spot a place and you can see that as your vacation destination for many years to come, and you check the resales and find none available, then its quite possible you will have to pay the full price. You just need to decide which is more important, the money or the destination.

I find it rather amusing that people here are all to quick to criticise anyone who bought at "full price". Without those sales, those destinations would not be available in the first place, so no one would have received a "deal".

If I were in the market, and I saw the right resale, I would go for it. But I also bought at "full price" ( which was way under most prices I see here for an ocean resort ) and I use it every year with absolutely no regrets. The location and use week were exactly what I wanted !
 

brekkon

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Excellent Job..... If I had known what you did in my window I could have rescinded and saved 11000 on my Bonnet Creek purchase. Fortunatly I did use this knowledge to get my Kingsgate 126k purchase for $300 after closing and with 4 months of prepaid MF's that made my cost even less.

If you do not care where you own look for low MF locations to add to your points allotment. Avoid newer locations since these places typically show low MF's to entice new buyers to get in there.


AND MOST IMPORTANTLY go get a TUG membership. A small $15 membership fee is totally worth the added extras you get.
 

timeos2

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If I were in the market, and I saw the right resale, I would go for it. But I also bought at "full price" ( which was way under most prices I see here for an ocean resort ) and I use it every year with absolutely no regrets. The location and use week were exactly what I wanted !
That exact same location is available via resale at some point. What you pay all the extra expense for in retail is getting it NOW vs waiting for the same resale offer to be available (usually for pennies on the retail price).

IF you can afford the extra cost, you don't care that 90% + pof what you pay retail is gone 10 days after you buy and it is exactly what you wan NOW then a case can be made for retail purchase. There is no resort/view/unit that make it worth a premium of 90%+ to us but it is to some.

Thank heavens as those are the very people who give us the great deals at resale on their dime (actually tens of thousands of dollars) when we by it resale down the line. For that we do have to thank retail buyers. They save us a lot.
 

johnmcguir

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It looks like you formerly owned DVC. What did you think of Disney's timeshares? My wife wants to be in the "Club" but I think we are better off useing our RCI points (V V at Parkway, 92,500 pts) and RCI week (Grandview at Las Vegas, TP of 21)to trade into Disney. We just got a trade into DVC/Vero beach in Sept for our weeks trading power of 12. Those were left over from another weeks trade.
 
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