rniver
newbie
My wife and I just agreed to purchase a 100 year "right to use" contract for one registered studio week, two Grand Vacation studio weeks, and one "Vida" week per year at the Mayan Palace in Nuevo Vallarta. A golf package, "marketing plan", and 15 HSI breakaway weeks are included. The marketing plan consists of promotions to golfers that include weeks we can resell to the resort at a net profit of $800 per week.
We have 3 or 4 more days available to rescind the contract and need to hear from more experienced timeshare owners whether this is a great deal, a horrible deal, or somewhere in between.
The cost for this contract is $11,000 USD plus the trade in of 19 anytime weeks from the Moon Palace in Cancun to be used within the next 13 years, and 14 EOY weeks from the Sheraton Buganvilias in Puerto Vallarta (Total trade-in value of $18,100). The annual maintenance is $485 for each registered week used and for each Grand Vacation week used. Every five years we have to pay an additional "renovating" fee equal to two weeks' maintenance fee.
We can use the registered week and the two Grand Vacation weeks to stay at any Mayan Palace without an exchange fee; or exchange, resell/rent, or simply let the weeks expire. The Grand Vacation weeks are "subject to availability". Each of the weeks can supposedly be split into as many as three weeks via SFX as long as the total "trading power" of the three weeks doesn't exceed the trading power of the Mayan Palace week exchanged.
A "Vida" week is the right to book an additional week with SFX to stay anywhere except Vida properties at the rate of $200 for a studio, $400 for a 1-bedroom, or $600 for a 2 bedroom. No additional maintenance or exchange fee for the Vida week.
Can I believe the sales pitch? Does this sound like a desirable contract at this or any price? How much should this type of contract cost?
Please let us know what you think.
We have 3 or 4 more days available to rescind the contract and need to hear from more experienced timeshare owners whether this is a great deal, a horrible deal, or somewhere in between.
The cost for this contract is $11,000 USD plus the trade in of 19 anytime weeks from the Moon Palace in Cancun to be used within the next 13 years, and 14 EOY weeks from the Sheraton Buganvilias in Puerto Vallarta (Total trade-in value of $18,100). The annual maintenance is $485 for each registered week used and for each Grand Vacation week used. Every five years we have to pay an additional "renovating" fee equal to two weeks' maintenance fee.
We can use the registered week and the two Grand Vacation weeks to stay at any Mayan Palace without an exchange fee; or exchange, resell/rent, or simply let the weeks expire. The Grand Vacation weeks are "subject to availability". Each of the weeks can supposedly be split into as many as three weeks via SFX as long as the total "trading power" of the three weeks doesn't exceed the trading power of the Mayan Palace week exchanged.
A "Vida" week is the right to book an additional week with SFX to stay anywhere except Vida properties at the rate of $200 for a studio, $400 for a 1-bedroom, or $600 for a 2 bedroom. No additional maintenance or exchange fee for the Vida week.
Can I believe the sales pitch? Does this sound like a desirable contract at this or any price? How much should this type of contract cost?
Please let us know what you think.
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