Should I try selling my Club Wyndham timeshare now, or later?

[Aimee4487]

Hello,

I am new to this website/timeshare world. I purchased a Wyndham timeshare several months ago in March at the Bonnet Creek location in Orlando, Florida. I paid $23,000 for 166,000 points annually + one time 234,000 bonus points (which can be used until July 2019). I deeply regret this purchase and should have cancelled the transaction within 10 days of purchasing. But I did not know the extent of all the lies I was told by the sales rep until I did more research recently. I seriously can not believe the rep told us we would get about 4 weeks of vacation per year with 166,000 points.

I have never used any of the points, but have paid off the balance of the timeshare already. Should I try reselling the timeshare ASAP or should I try using it for a few years before reselling? What would minimize my financial loss? Should I utilize the Ovation by Wyndham exit program?

Advice would be greatly appreciated as this has brought on a lot of stress to me and my family.

thank you

 

[TUGBrian]

the problem you have is that you wont ever recoup what you have paid thusfar, so it is always in your best interest to learn how to best use the product you have purchased because the only value it will have to you now is in taking the vacations available to you via your membership.

not that you cant certainly cut your losses and give your ownership away (since you said you paid it off completely), but vs recovering any of the money paid, you would merely be ending your annual maintenance fee payments.

Since you dont appear to have to make the decision ASAP, we suggest reading up on the wyndham forum below and getting a feel for your options if you remain an owner and try to make the best of it.

Welcome to TUG, we wish you would have found us back in March

 

[vacationhopeful]

You have enough points for 1 or 2 weeks of yearly vacation stays based on either LOW or HIGH season stays or 1bdr or 2 bdr in unit size.

You will be giving away ALL the dollar value of this timeshare ... and while your spouse may be pissed now and every time you have to pay about $1200 yearly MFs .... if your vacation stays are decent (with advance planning by you), you all might like it.

So giving it ($23000 paid for item) away for free will end the blood letting ... while using it will cost you $1200 in MFs (with increases each year), give it a year or two to try it out. USE those bonus points ... you paid for them.

Planning in advance is the key in using Wyndham. Read that pretty picture book ... all the rules are in there. If your college kid cost you $23K for a year, you would totally EXPECT them to read and learn the book work.

Good luck ... enjoy a vacation or two. Hang around here and ask questions. We won't sell you more points and our advice is free.

 

[A.Win]

I started out in a similar situation 5 years ago. But I added 2 PIC weeks which helped me get more points at a lower cost. I suggest you look into this as well. And then I upgraded to become Platinum. For the past 5 years, I found it quite easy to rent the extra points with my discounts and upgrades. But with the new system in place, Platinum has definitely been watered down. So if I were in your shoes, I would NOT upgrade to VIP. I would follow Linda's advice and use the points. And once you understand the system, you can buy more points resale for free or very very little.

 

[Nomad34]

Having owned Wyndham for close to 20 years and have 402,000 points, I agree that using it and letting others enjoy it with you will be the best for you at this time. Enjoy it and learn from this website of ideas to get the most from being an owner. I just joined and wished I had earlier.

 

[Heron]

I started out in a similar situation 5 years ago. But I added 2 PIC weeks which helped me get more points at a lower cost. I suggest you look into this as well. And then I upgraded to become Platinum. For the past 5 years, I found it quite easy to rent the extra points with my discounts and upgrades. But with the new system in place, Platinum has definitely been watered down. So if I were in your shoes, I would NOT upgrade to VIP. I would follow Linda's advice and use the points. And once you understand the system, you can buy more points resale for free or very very little.

Does Wyndham let you add PIC weeks without another developer purchase? If not, I don't see how buying more from the developer doesn't make this worse.

 

[raygo123]

Does Wyndham let you add PIC weeks without another developer purchase? If not, I don't see how buying more from the developer doesn't make this worse.

Wyndham is in the business of selling timeshares so the answer is you have to buy more.

Sent from my RCT6873W42 using Tapatalk

 

[CO skier]

I deeply regret this purchase and should have cancelled the transaction within 10 days of purchasing.

Do not look back with regret; look forward with anticipation of some great vacations.

Take some time to learn how to get the most from your new timeshare. 166,000 points will get you a full week in a 1 bedroom deluxe unit at Bonnet Creek during Prime season or 2 full weeks in a 1 bedroom deluxe unit during the lowest demand Value season. If you can travel on short notice (within 45 days of arrival), you can use the RCI exchange to reserve up to four weeks in a studio or two weeks in 1 or 2 bedroom units during the lowest demand Quiet season. It will cost an exchange fee. There are some better deals for cash within 45 days, and you can save your points for other vacations.

400,000 points gives you temporary Silver VIP benefits. If your can find something to reserve within 60 days of arrival, you would get a 25% points discount.

Fill out the survey here,

http://tugbbs.com/forums/index.php?threads/what-to-buy-questions-for-newbies.208742/

but note that you have already purchased 166,000 Wyndham points, then post your answers in the Wyndham forum. It may help you learn how to get the most from your timeshare purchase. The main things will be when can you travel, and how far in advance can you plan for you vacations?

My first timeshare was a developer purchase. I wrote it off as tuition, and the vacations were OK. It was not until I spent some hours learning how to use my timeshares that my family started to experience the best vacations we could imagine. You have the same opportunity, and you have paid for it. Give timesharing a try, and you might get hooked on the vacations.

If you like timesharing so much that you want more points, buy resale for next to nothing and average down your total purchase price.

 

[tschwa2]

Unfortunately the resale value of $166,000 points in around $1500 or less. It isn't unusual for that amount of point to go for less than $500. Since you paid it off you should at least try using it before cutting all ties.

 

[md8287]

Agree with previous posts but add, do not go back to ovations as Wyndham will simply sell it to someone else and make profit again.

 

[chapjim]

Agree with previous posts but add, do not go back to ovations as Wyndham will simply sell it to someone else and make profit again.

Factually correct but irrelevant. A decision to sell (divest) should be based on what's best for the seller. That Wyndham will resell the contract is not a good reason for not using Ovation.

 

[bnoble]

Should I try reselling the timeshare ASAP or should I try using it for a few years before reselling?

The unfortunate fact is that if you sell, you are not going to get very much for it at all. Brian is correct when he says:

the only value it will have to you now is in taking the vacations available to you via your membership.

I own a similar amount (189K) and have had some really great vacations with my ownership. If you can stomach the idea that the money spent is just money gone, and can live with that, you may well find that you really enjoy using it.