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Should I rescind? (New owner with post contract hangover)

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I don't like making big decisions without doing a lot of research. Was pressured and tired during a 2 hour "open house" at Glacier Canyon Lodge in the Wisconsin Dells on my vacation. Seemed like a good deal at the time but after reading a lot of responses on the better business bureau and reddit I feel sick to my stomach. I have 4 more business days to rescind my contract per Wisconsin law. Your help is appreciated.

Contract (CLUB WYNDHAM® Access):
  • RCI
  • Perks by CLUB WYNDHAM®
  • PlusPartners®

126K Points for $19879
Received 174K bonus points and 2 years of VIP.

Maintenance fee is $876.76 ($725.76 + $151 program fee)

I don't do a lot of vacationing out of state. Maybe 1 week per year. Wanted something small with the possibility of upgrading for me and my future wife if needed.

Doing the math now it seems like if I were to use it every year from now through the next 40 years (I'm in my early 30s)
126k points per year for $19879 + maintenance fees for 40 years (assuming they don't go up)
$35070.40 (total maintenance fees) = $54949.40. This would be $1300 per year. Am I missing something or did I get screwed? Thanks for your input.

P.S. Received a Amazon Kindle Fire 7 with contract docs on it. If rescinding have others had to send it back? Have seen mixed responses of people who sent it back and others who have been told to keep it.
 

Passepartout

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Rescind. You can buy resale for pennies on the dollar the developer charges. There are not enough points in what you bought for a top-shelf resort stay annually. In your letter put 'promotional materials to be returned under separate cover' Mail the letter USPS Certified w/returned receipt. You can buy that tablet for under $50. Is it really worth it to you to spend $20,000? Return it.

Welcome to TUG. If after studying this, it still looks like a good deal to you (it isn't), you can always buy retail, but I doubt you will see value in that.

Jim
 

Arimaas

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I don't like making big decisions without doing a lot of research. Was pressured and tired during a 2 hour "open house" at Glacier Canyon Lodge in the Wisconsin Dells on my vacation. Seemed like a good deal at the time but after reading a lot of responses on the better business bureau and reddit I feel sick to my stomach. I have 4 more business days to rescind my contract per Wisconsin law. Your help is appreciated.

Contract (CLUB WYNDHAM® Access):
  • RCI
  • Perks by CLUB WYNDHAM®
  • PlusPartners®

126K Points for $19879
Received 174K bonus points and 2 years of VIP.

Maintenance fee is $876.76 ($725.76 + $151 program fee)

I don't do a lot of vacationing out of state. Maybe 1 week per year. Wanted something small with the possibility of upgrading for me and my future wife if needed.

Doing the math now it seems like if I were to use it every year from now through the next 40 years (I'm in my early 30s)
126k points per year for $19879 + maintenance fees for 40 years (assuming they don't go up)
$35070.40 (total maintenance fees) = $54949.40. This would be $1300 per year. Am I missing something or did I get screwed? Thanks for your input.

P.S. Received a Amazon Kindle Fire 7 with contract docs on it. If rescinding have others had to send it back? Have seen mixed responses of people who sent it back and others who have been told to keep it.
I just got a 154k resale unit on eBay for $625 including costs (mind you it didn't have any 2018 points) if that's any indication. It's a converted Fairfield Glade contract. I don't know much about the Wyndham system yet, but I do know that you can find what you got sold for a heck of a lot less on eBay and heee on TUG.
 

Mosescan

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RESCIND!
 

rickandcindy23

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Absolutely rescind. Don't let another day go by without mailing your rescind letter. Send the letter however you need to get the receipt signed, and be sure to have the proof sent to your address, so you don't have any issues with Wyndham saying they did not get the rescind letter.
 

Railman83

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I just got a 154k resale unit on eBay for $625 including costs (mind you it didn't have any 2018 points) if that's any indication. It's a converted Fairfield Glade contract. I don't know much about the Wyndham system yet, but I do know that you can find what you got sold for a heck of a lot less on eBay and heee on TUG.
So you got the 154k after all; congrats! Was wondering who got that. I just picked up a 375k from a private party for $1000 plus closing.

Rudo there is a 182 converted week for $800 plus closing on TUG marketplace. Converted week so far lower fees than Glacier. So less cost, more points, lower fees, and no loan. $80 per month or $950 per year.

Rescind.
 

bnoble

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Rescind. Then, do your research and decide if timeshare in general, and Wyndham specifically, is right for you.

I'm a very happy Wyndham owner, but I also bought on the secondary market for much less. True, I don't have all the bells and whistles, but I think this is a really good value for me. It might be for you as well. Heck, you might even decide that you want all the bells and whistles, and are willing to pay for them, in which case you can call the Glacier Canyon sales desk, tell them you are ready to buy the offer they originally made to you, and I'd bet they'd write it up again happily.
 

jwalk03

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Rescind. You can buy the same thing in the resale market for thousands less than you paid.
 
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Rudy, I would rescind your agreement.
1. Your maintenance fees will increase 2-4% each year.
2. Your maintenance fees are very high.
3. Having been a Wyndham owner (deeded and club access) for many years: I would wait, if you buy at all, until Wyndham gets there less than 1 year old software, for making reservations, figured out.
4. If you are only going to take 1 to 2 weeks of vacation a year you would be better off renting from existing owners.

Hope this helps,
p.s. I would keep the tablet until they ask for it back.


Sent from my SM-G955U using Tapatalk
 
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Rudy, I would rescind your agreement.
1. Your maintenance fees will increase 2-4% each year.
2. Your maintenance fees are very high.
3. Having been a Wyndham owner (deeded and club access) for many years: I would wait, if you buy at all, until Wyndham gets there less than 1 year old software, for making reservations, figured out.
4. If you are only going to take 1 to 2 weeks of vacation a year you would be better off renting from existing owners.

Hope this helps,



Sent from my SM-G955U using Tapatalk


Sent from my SM-G955U using Tapatalk
 

Arimaas

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So you got the 154k after all; congrats! Was wondering who got that. I just picked up a 375k from a private party for $1000 plus closing.

Rudo there is a 182 converted week for $800 plus closing on TUG marketplace. Converted week so far lower fees than Glacier. So less cost, more points, lower fees, and no loan. $80 per month or $950 per year.

Rescind.
Yeah. That was me. I got too antsy watching the recent prices on eBay shoot up, and these MFs were pretty reasonable ($74/mo). I figured $625 with costs, is basicllay free just paying for closing.
 
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Thank you all for your help. Rescind letter is drafted and will be taken to the post office today.

I will start doing my research but hopefully you could answer a couple newbie questions?
1) In the examples of the 154k and 182k resale examples, am I just buying someones points for a year or taking over their contracts including maintenance costs for annual points that would then go to me?
2) What is a converted week (i.e. Converted Points Ownership) compared to what I am currently under contract for?
 

jwalk03

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Thank you all for your help. Rescind letter is drafted and will be taken to the post office today.

I will start doing my research but hopefully you could answer a couple newbie questions?
1) In the examples of the 154k and 182k resale examples, am I just buying someones points for a year or taking over their contracts including maintenance costs for annual points that would then go to me?
2) What is a converted week (i.e. Converted Points Ownership) compared to what I am currently under contract for?
If you buy a resale you are taking over the points and associated maintenance fees in perpetuity- same as if you bought from the developer, but instead of paying the developer $20K, you are buying from an existing owner for <1k
 

Railman83

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Some free ones right now on bargain deal TUG. I think one is an old post with 10 separate contracts that has been picked mostly clean but a couple might be in play, the other is a 233k biennial star island.

If you watch about one a month or so, a bit less frequently now, somebody is giving one away. In the marketplace you see some low cost, but not generally fee contracts.
 

Braindead

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I wouldn’t recommend getting a high MF contract especially at your age even if it’s free.
As an example if you buy a 200k point contract with MF of $5.00 instead of $6.00 per thousand points it saves you $200.00 a year in maintenance fees.
Most here recommend buying contracts at 77k intervals. Buy a 308k contract because minimum program fees are based on 230k points.
 

TUGBrian

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congrats on rescinding in time to save nearly 20,000 bucks! thats a heckuva present!
 

bendadin

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You get 1 reservation transaction (RT) for each 77K points so keep that in mind when you make your purchase. I got 400K CWA for free last year so the deals can be found if you keep your eyes open.
 

taterhed

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Worldmark x2
SVV Bella 81k
Thank you all for your help. Rescind letter is drafted and will be taken to the post office today.

I will start doing my research but hopefully you could answer a couple newbie questions?
1) In the examples of the 154k and 182k resale examples, am I just buying someones points for a year or taking over their contracts including maintenance costs for annual points that would then go to me?
2) What is a converted week (i.e. Converted Points Ownership) compared to what I am currently under contract for?

Congrats. You made a very good decision.

Now, sit back, relax and take your time to learn and get suggestions and advice about what is right for your vacation needs. It's very important that you understand the details, the ins and outs and restrictions that might apply..

You must make sure that you 'buy once' and 'buy right' to fit your vacation wants and goals.

Welcome to TUG: consider becoming a member, it's the best $15 you'll ever spend. Seems like it just saved you $20k !!!!

BTW: You might make sure that your user name is not your full and actual name--just as a security measure. Suggest changing your user name to something less identifying if that's your name! Cheers.
 
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