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Took the last chance offer after presentation... couple questions.

indecisive311

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Went to a presentation yesterday at the Myrtle Beach Sheraton Broadway Plantation Villas. I didn't take the offer on ownership, but I did take the last chance offer. Now I'm second guessing myself, but I'm just considering it a prepaid vacation. Basically the offer was 60k Starpoints + 8 days/7 nights at the Sheraton Vistanas in Orlando, FL, or back at Myrtle Beach for $2,800. I pay that at 0% interest for 2 years, or until I feel like going on that trip within 2 years and pay the rest off. Also if I choose to join SVN, the $2,800 goes toward the down payment. If I don't that $ is just considered to be paying for the included trip.

So basically just wondering what you think... 1) keep the trip/points, or 2) cancel the agreement, pay a $99 penalty, and call it a lesson learned.

For the record I have somewhat talked myself out of joining SVN, the lifetime MF scares the crap out of me. Who knows where I'll be in a few years, plus we are expecting our second child next year so financially we won't have much flexible income.

Someone also approached me at the pool, saying not to purchase, and come to this site, where people are giving away properties for free just to not pay the MF anymore.

Thanks for the advice! :cool:
 

DeniseM

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They are correct - there are a number of nice Starwood properties that you can "adopt," for absolutely nothing. There is always a maintenance fee, but if you can get by with a one bedroom, it can be very reasonable.

Since you are not sure about the product you bought, you should see if you can cancel it. It will be available next week, next month, and next year, so if after doing your research you still want it, you can buy it again.

You need to read the fine print on the product you bought, and see if it can be cancelled - it's not a timeshare purchase so timeshare rescission laws don't apply. (If it's only $99 to cancel - go for it.)
 
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pchung6

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Highly recommend you take the $99 loss as lesson learn. You can buy/adopt/gifted many SVN for $0 or even get free usage anytime. You can also easily get 50k starpoints as bonus by opening starwood amex card.
 

vacationtime1

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The 60,000 StarPoints are worth about $1,500 if used wisely. Is a week at SBP (what week; what size unit?) worth $1,300?

Maybe yes; maybe no. But the most important benefit of cancelling is that you will not have to sit though another high pressure sales pitch.

I would cancel.

(btw--I recently sold a two bedroom SBP unit for $200 and gave away a one bedroom unit; if you decide you want to be an owner, you know you can do it for peanuts.)
 

DeniseM

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Same here - I recently gave away a 2 bdm. at Sheraton Vistana Resort for free, and paid for the transfer.
 

SMHarman

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If you have a plan for the trip and the points and can get proper value for the points then you are right. A prepaid vacation and points.

If you would prefer the $2800 in your bank to buy the hotel nights and vacation later suck up the $99 and cancel.

Sent from my LT26i using Tapatalk
 

indecisive311

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Wow great feedback, and quick! I should also mention that I do travel a lot. I'm SPG Platinum 75 (4x per dollar spent) and with the AMEX and accrue points pretty fast. I have lifetime Gold already. So when vacationing I almost always use points or points/cash if it's more bang for the buck.

I'll decide by tomorrow, but it looks like it's in my best interest to cancel.

You guys rock, and if you have any more feedback let me know.
 

DeniseM

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indecisive311

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The 60,000 StarPoints are worth about $1,500 if used wisely. Is a week at SBP (what week; what size unit?) worth $1,300?

The trip I'm currently on was 46k points for a premium 1 bedroom villa (4 nights points + 5th night free). I don't recall the dollar amount, but that's well below $1,300.

Thanks for the advice!
 

topdog

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I think the current sign up card bonus is 30 k points.
 

indecisive311

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I went back to the office Friday and canceled. I was just going to write a cancelation letter, per the T&C, but they wanted to talk me back into it first. The salesman tried to say that the points were the real value that I was getting for 5 cents, and that you could only buy points at 15 cents otherwise. The bonus was the 7 nights. I explained and showed that you could buy 20k points online for $700... 3.5 cents. I could buy points AND probably find a better deal on the trip off-peak for under $2800.

I wrote a letter there and they mailed it. Will follow up next week to make sure they received it.

Thanks for the support... the users on the forum are awesome! I'll keep an eye on the for sale section. ;)
 

Ty1on

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I went back to the office Friday and canceled. I was just going to write a cancelation letter, per the T&C, but they wanted to talk me back into it first. The salesman tried to say that the points were the real value that I was getting for 5 cents, and that you could only buy points at 15 cents otherwise. The bonus was the 7 nights. I explained and showed that you could buy 20k points online for $700... 3.5 cents. I could buy points AND probably find a better deal on the trip off-peak for under $2800.

I wrote a letter there and they mailed it. Will follow up next week to make sure they received it.

Thanks for the support... the users on the forum are awesome! I'll keep an eye on the for sale section. ;)

You let them mail the rescission for you? You are a very trusting person.
 

okwiater

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You let them mail the rescission for you? You are a very trusting person.

While I have never heard of SVO failing to honor someone's rescission, even when delivered "not quite" in accordance with the written instructions, I would nevertheless be prepared at the very least to mail an additional letter on the last day of the rescission period if they haven't acknowledged receipt by then. I would also send it certified.
 

Ken555

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I went back to the office Friday and canceled. I was just going to write a cancelation letter, per the T&C, but they wanted to talk me back into it first. The salesman tried to say that the points were the real value that I was getting for 5 cents, and that you could only buy points at 15 cents otherwise. The bonus was the 7 nights. I explained and showed that you could buy 20k points online for $700... 3.5 cents. I could buy points AND probably find a better deal on the trip off-peak for under $2800.



I wrote a letter there and they mailed it. Will follow up next week to make sure they received it.



Thanks for the support... the users on the forum are awesome! I'll keep an eye on the for sale section. ;)


As you discovered first hand, you simply cannot believe anything the sales staff says. It's unethical and immoral for them to tell you the points are otherwise only available for 15 cents each while you correctly informed them of the facts. I'm still amazed some TUG members believe there are some good salespeople at timeshares...I just don't believe it's possible for an ethical salesperson to not lie in their job and earn a livable wage. They may not do so for every sales opportunity, but I just can't image the possibility for someone being honest in their sales job all the time.

I haven't been to a sales presentation in years and have no intention of doing another in future. There would need to be a very compelling reason to get me to chat politely with sales for 60-90 minutes.

Enjoy your trip! Come back next week and read up on all the options available to you which are much more affordable.


Sent from my iPad
 

cubigbird

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SPG points are frequently valued around 2 cents a point. Sometimes more, sometimes less. I would never even pay 3 cents per starpoint. Purchasing online for 3.5 cents is not a good deal. 15 cents a point to buy would simply be highway robbery. I have, however, REDEEMED at 15 cents a point :hysterical: If you have developer options, and pay for the points using the SPG Amex, including the extra points you get from the AMEX you can get the cost down to approx 1.75 per point. The best way to go to get starpoints truly is to get the SPG Amex as you get points for the things you will buy anyways and bonus points for staying at the hotels.

There is great discussion about this on thepointsguy.com and flyertalk.com
 
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vacationhopeful

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You let them mail the rescission for you? You are a very trusting person.

PLUS 1 for mailing YOUR own letter ....

Mail YOUR own letter and be sure it is CERTIFIED MAIL RETURN RECEIPT.

For a lousy $6 dollars and change .. you are going to let the person send off YOUR paper work which eliminates a BIG PAYCHECK to that person?

Did you ever give a $50 bill to a kid and REALLY expect ALL the change back from a carton of milk? Do you ask a person to just ADD their tip onto you credit card slip AFTER you signed it? Tell your 16 year old daughter -"buy anything you want with my credit card at the mall - it has a $20,000 credit line"?
 

DavidnRobin

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As you discovered first hand, you simply cannot believe anything the sales staff says. It's unethical and immoral for them to tell you the points are otherwise only available for 15 cents each while you correctly informed them of the facts. I'm still amazed some TUG members believe there are some good salespeople at timeshares...I just don't believe it's possible for an ethical salesperson to not lie in their job and earn a livable wage. They may not do so for every sales opportunity, but I just can't image the possibility for someone being honest in their sales job all the time.

I haven't been to a sales presentation in years and have no intention of doing another in future. There would need to be a very compelling reason to get me to chat politely with sales for 60-90 minutes.

Enjoy your trip! Come back next week and read up on all the options available to you which are much more affordable.


Sent from my iPad

Passed on WKORV Update - didn't even pickup gift.

However, perhaps WPORV? Quieter here, and going to rain - may just start with specifics on HI Flex, etc. In 2011, I passed on the update, and requested a Sales discussion w/o spouse - about a specific purchase. It was interesting...

I still have my notes on this 'deal'
 
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Ken555

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Passed on WKORV Update - didn't even pickup gift.

However, perhaps WPORV? Quieter here, and going to rain - may just start with specifics. Last time (2013) I passed on the update, and requested a Sales discussion w/o spouse - about a specific purchase. It was interesting...

I still have my notes on this 'deal'


Yeah, but you *like* those presentation meetings, even if they're full of half truths. ;-)


Sent from my iPad
 

indecisive311

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Passed on WKORV Update - didn't even pickup gift.

However, perhaps WPORV? Quieter here, and going to rain - may just start with specifics on HI Flex, etc. In 2011, I passed on the update, and requested a Sales discussion w/o spouse - about a specific purchase. It was interesting...

I still have my notes on this 'deal'

Can you elaborate on your acronyms for a newbie please?
 

DavidnRobin

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While I have never heard of SVO failing to honor someone's rescission, even when delivered "not quite" in accordance with the written instructions, I would nevertheless be prepared at the very least to mail an additional letter on the last day of the rescission period if they haven't acknowledged receipt by then. I would also send it certified.

I rescinded WKORVN OF (74K) without sending recission letter - SVO has lots of fish and is an upstanding Corp (even w/ standard TS Sales misinfo) - they do not need to stir the pond.

I am not saying not to send official letter, just not be overly concerned that they are going to try and pull a fast one on you. Oh yeah... IMO

Btw - not to go all jarta on this, but I do not believe they said 15 cents per SP...
 
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indecisive311

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I am not saying not to send official letter, just not be overly concerned that they are going to try and pull a fast one on you. Oh yeah... IMO

Btw - not to go all jarta on this, but I do not believe they said 15 cents per SP...

He did say 15 cents, and also that you could only do it once per year. He was correct on the second part, so I guess the perk is the ability to purchase more than 20k/year (which is Starwood's limit).

Trust me, I plan on following up around the 6-7 day mark to make sure they got the letter. If not, I'll be sending the certified letter.
 

YYJMSP

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15c?

Makes no sense at all. No idea what combination comes out 15c for a SPG point...

You can buy directly from SPG for 3.5c (or ~2.8c when they're on sale every year), limit of 20K per year per account.

The "buy 100K per year certificates" when you buy from the developer (2 expiring per year for the 3 years after you buy, so a total of 6 which you could do all at once I think) come out in the ~2c range.

An Explorer package probably comes out to around 4c (if you don't return) to as low as ~2.5c if you exercise the package (actually, they're really free if you take the purchase price and count is as fully applied to the developer purchase, so your points really only cost the $99 admin fee, where else can you get 170K points for $100, assuming you were going to buy a developer unit anyways)

You can convert your SVO ownership for around 2c - 4c depending on what you own and the cost of MFs (ignoring the up-front capital cost of buying the units)

The SPG AMEX comes out 100c (or 50c for SPG purchases for American-based cards?) and no limit...

Staying at SPG properties, as Platinum members, by the time you add up the various bonuses and pay with your SPG AMEX, you could end up getting points for ~8c
 
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LisaRex

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If being contractually obligated to pay MFs year after year scares you to death, then my advice (after you rescind) is to rent from an owner. TUG has Classifieds that you can view for free when you join. Redweek is another popular site with tons of rentals, though it costs something like $15 a year to join. Still, a drop in the bucket compared to what you'd pay if you bought a timeshare and very little risk.

If rent vacation properties from a stranger gives you a twitchy eye, there are ways to mitigate the risk of dealing with strangers. For instance, when I rent from TUG, Redweek or VRBO/HomeAway, I always choose an owner who will allow me to pay with a credit card and/or PayPal (which I pay using my credit card). Credit cards offer strong consumer protection that you can exercise should you come across a fraudster.
 
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