• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $21,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!

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

Joined
Feb 28, 2018
Messages
2
Reaction score
2
Points
3
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

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
28,461
Reaction score
17,213
Points
1,299
Location
Twin Falls, Eye-Duh-Hoe
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

TUG Member
Joined
May 30, 2017
Messages
477
Reaction score
204
Points
154
Location
New York
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

TUG Member
Joined
Jan 3, 2018
Messages
362
Reaction score
136
Points
103
Location
Canada
Resorts Owned
HGVC - Vegas Blvd, Craigendarroch lodges x 2
RESCIND!
 

rickandcindy23

TUG Review Crew: Elite
TUG Member
Joined
Jun 6, 2005
Messages
31,892
Reaction score
8,997
Points
1,049
Location
The Centennial State
Resorts Owned
Wyndham Founder; Disney OKW & SSR; Marriott's Willow Ridge,Shadow Ridge,Grand Chateau;Val Chatelle; Hono Koa OF (3); SBR(LOTS), SDO a few; Grand Palms; WKORV-OF (2),Westin Desert Willow.
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

TUG Member
Joined
Sep 13, 2015
Messages
569
Reaction score
262
Points
173
Location
Fairfax va
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.
 

Sugarcubesea

TUG Review Crew
TUG Member
Joined
Mar 9, 2014
Messages
4,029
Reaction score
2,939
Points
449
Location
Novi, Michigan
Resorts Owned
QH, HBC, VBHC, & Pinestead Reef
Rescind and follow the instructions to the letter....
 

bnoble

TUG Member
Joined
Nov 14, 2006
Messages
11,627
Reaction score
5,364
Points
798
Location
The People's Republic of Ann Arbor
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

TUG Review Crew: Expert
TUG Member
Joined
May 3, 2016
Messages
3,486
Reaction score
2,584
Points
348
Location
Ohio
Rescind. You can buy the same thing in the resale market for thousands less than you paid.
 

rpeacock

Guest
Joined
Mar 1, 2018
Messages
175
Reaction score
140
Points
103
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
 

rpeacock

Guest
Joined
Mar 1, 2018
Messages
175
Reaction score
140
Points
103
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

TUG Member
Joined
May 30, 2017
Messages
477
Reaction score
204
Points
154
Location
New York
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.
 
Joined
Feb 28, 2018
Messages
2
Reaction score
2
Points
3
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

TUG Review Crew: Expert
TUG Member
Joined
May 3, 2016
Messages
3,486
Reaction score
2,584
Points
348
Location
Ohio
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

TUG Member
Joined
Sep 13, 2015
Messages
569
Reaction score
262
Points
173
Location
Fairfax va
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

TUG Member
Joined
May 23, 2016
Messages
2,504
Reaction score
1,243
Points
298
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

Administrator
Joined
Mar 24, 2006
Messages
22,091
Reaction score
7,673
Points
1,099
Location
Florida
congrats on rescinding in time to save nearly 20,000 bucks! thats a heckuva present!
 

bendadin

TUG Member
Joined
Mar 26, 2016
Messages
1,932
Reaction score
620
Points
223
Location
Virginia
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

TUG Member
Joined
Sep 28, 2011
Messages
4,536
Reaction score
1,901
Points
399
Location
Virginia
Resorts Owned
Westin WKORV OFD
Marriott's Grande Vista
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.
 
Top