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Trying to decide if need to rescind

Jstowell555

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Please don’t just commmet rescind without some reason why.

Ok we are new to timeshares. We have friends that own them with different companies and we have looked at them multiple times and we are numbers people. We travel a lot and do tend to end up spending a lot on vacations it seems in the last couple years. We have two younger children. We bought into a time share yesterday and excited but of course joined a bunch of groups and reading mixed reviews and now not sure if it was the best approach or not. I thought I was familiar with them to an extent but have now found so many more boards and realized I was not. We have time to rescind so I would like honest opinions. It does seem there is benefits from buying through the company so I would like to hear both sides. We are flexible on dates and we like to go to different places and go to where timeshares are. We liked that we could exchange for RCI.

We got a total of 154,000 points with 246,000 bonus points which puts us VIP Until 12/20. Through Wyndham club. We have unlimited last calls. Our maintance fee is $86/month and we got it for $23,000. We were able to do this with half 0% interest for 15months and the remainder 14% and plan on paying the other half off pretty quick so it doesn’t cost much more than what we pay. In the last two years we have gone to Disney twice. I do see listings on eBay for points for obviously way cheaper but not sure on the extras and perks.
 

ecwinch

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Rescind.

You simply need more time to make an informed decision. Rescinding gives you the time to do that outside the pressure cooker sales process. Exercise your right to take that time, it is the reason the law allows it. And the fact that you are questioning your decision means you need more time.

If you do the research and decide that Wyndham is the right choice, you still will be able to buy on the terms you got. They might even be better. But the #1 reason most people hate timeshares is that they feel ripped off when they learn how much they could have saved by buying resale.

Also research the Disney Vacation Club. It might be a better fit.

But rescind first, and then ask the questions.
 
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HitchHiker71

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Read this article on whether timesharing is a good match for you, and the second article in the series as well (link within):

https://www.kevinmd.com/blog/2018/06/a-physician-on-timeshares-who-are-they-right-for.html

I agree with Eric, rescind now, do all of your due diligence on your own time, and then use corporate telesales if you decide to repurchase developer points with Wyndham on your own terms. It may make sense to initially buy resale, and try out the system for a while first, before making a developer points purchase of any kind.
 

Pathways

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It does seem there is benefits from buying through the company so I would like to hear both sides.
I'm not aware of any benefits for a direct purchase of only 154k. What are they?

We got a total of 154,000 points with 246,000 bonus points which puts us VIP Until 12/20. Through Wyndham club. We have unlimited last calls. Our maintance fee is $86/month and we got it for $23,000.
You can get 154K for free and save $23,000

Please don’t just commmet rescind without some reason why.
I won't say rescind, but see above.
 

TUGBrian

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congrats, you just saved yourself $23,000 bucks
 

Richelle

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I'm not aware of any benefits for a direct purchase of only 154k. What are they?.
Club Pass, the ability to convert to Wyndham rewards, and Plus Partners (if you don’t already have a retail purchase) which gives you RCI nightly stays. Obviously direct purchase qualifies for VIP, but you need more then 154,000. However, a lot of people buy small packages, and work their way up to VIP, so this would be a benefit to them.




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Passepartout

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Other than the temporary VIP benefit, there is exactly ZERO difference between points acquired through resale for virtually no cost, and points bought from the developer for $23,000. Same units, same Last Call availability, same monthly nut. Oh, and you won't make the salesweasel happy if you rescind and buy resale. OTOH, you will make another owner happy relieving them of an unwanted timeshare.

If for no other reason, rescind, and learn more about timesharing. TUG is a great place to do that. The 'deal' (which yours isn't) will be available next week, next month, next year, if you choose to buy from the developer. Instead, buy resale for a teeny- tiny fraction of the cost. Honest!

Best Wishes! And Happy Holidays!

Jim
 

Pathways

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Club Pass, the ability to convert to Wyndham rewards, and Plus Partners (if you don’t already have a retail purchase) which gives you RCI nightly stays. Obviously direct purchase qualifies for VIP, but you need more then 154,000. However, a lot of people buy small packages, and work their way up to VIP, so this would be a benefit to them.
My bad. I should have put 'benefits' in quotations as I don't see those as a benefit for someone with 154k. VIP yes, but as noted a bunch more than 154k needed.
 

Jstowell555

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Club Pass, the ability to convert to Wyndham rewards, and Plus Partners (if you don’t already have a retail purchase) which gives you RCI nightly stays. Obviously direct purchase qualifies for VIP, but you need more then 154,000. However, a lot of people buy small packages, and work their way up to VIP, so this would be a benefit to them.




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And bc of the bonus points given we would be VIP until dec 2020, at least that is what we are being told.
 

Jstowell555

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Other than the temporary VIP benefit, there is exactly ZERO difference between points acquired through resale for virtually no cost, and points bought from the developer for $23,000. Same units, same Last Call availability, same monthly nut. Oh, and you won't make the salesweasel happy if you rescind and buy resale. OTOH, you will make another owner happy relieving them of an unwanted timeshare.

If for no other reason, rescind, and learn more about timesharing. TUG is a great place to do that. The 'deal' (which yours isn't) will be available next week, next month, next year, if you choose to buy from the developer. Instead, buy resale for a teeny- tiny fraction of the cost. Honest!

Best Wishes! And Happy Holidays!

Jim
Thank you
 

rickandcindy23

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Club Pass, the ability to convert to Wyndham rewards, and Plus Partners (if you don’t already have a retail purchase) which gives you RCI nightly stays. Obviously direct purchase qualifies for VIP, but you need more then 154,000. However, a lot of people buy small packages, and work their way up to VIP, so this would be a benefit to them.




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NO, this is not a benefit to them. There is no benefit to buying 154K points. 154K Wyndham points, even in the Wyndham system, are not worth much resale. That is the reason to rescind.

What you bought literally can be had for free via resale. Basically, you lose 100% of your purchase price, if you decide you want out. It's even going to be tough to give it away.

I think you should look into a package of points with low MF's that you can get free or nearly free.

You would be wise to tell us where you want to travel, so we can help you decide what to buy.

We love timeshare, and that is why most of us are here on TUG. We don't buy retail. I bought resale weeks and didn't know Wyndham was going to take over the resort, when I bought my weeks. Wyndham gave us a great deal for Platinum, which is why we did it. We paid less than you did for 154K points because our resale weeks were converted. I think it was around $17K to get about 1.3 million points. That is a deal they do not do anymore, not that I know of.

What you have is a small points package that you cannot resale for $1.00. It's true. Whatever benefits you get for RCI nightly stays (which are not great, by the way) are not worth $23K.

If I was starting over today, I would buy either WorldMark (you can buy a lot of WorldMark points for $23K), or I would buy a couple of good weeks as traders with Interval International, probably a lower-priced platinum Marriott (like maybe Palm Desert, CA) or a Sheraton Desert Oasis platinum week. I am not fond of RCI. I deal with RCI a little bit, but it's II that gives me the trades that I really can get excited about.
 

Karen G

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Do yourself a big favor and rescind now while you still have the opportunity. Once the rescission period passes, you won't ever have this opportunity again. All the reasons given above are valid. Take your time to educate yourself on how timeshares work best and slow down.

Plus, timeshares are luxury items and shouldn't be financed. The glow you feel now after the big sales experience and all the salesman made you believe will quickly fade once those monthly payments kick in. After you have learned a lot more about timesharing, check out all the timeshares for resale or, in some cases, for free. You might even try renting a timeshare week and see how you like it before to committing yourself to annual maintenance fees that will certainly go up and other restrictions to your usage that often pop up.

You've come to the right place to learn everything you need to know about timeshares.
 

steve_solo

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And bc of the bonus points given we would be VIP until dec 2020, at least that is what we are being told.
With the points purchased plus bonus, I am thinking you will be Silver for the next two years.
Silver is better than no VIP, but not that great.
25% discount for reservations within 60 days and upgrades for reservations within 30 days.
Those will not work out for many times of the year because of demand.
Also, Silver does not have unlimited free transactions so you will pay for each reservation.
I own both resale and developer so I am not totally biased - but I chime in with Rescind so you can study further and take your time.
 

Jstowell555

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NO, this is not a benefit to them. There is no benefit to buying 154K points. 154K Wyndham points, even in the Wyndham system, are not worth much resale. That is the reason to rescind.

What you bought literally can be had for free via resale. Basically, you lose 100% of your purchase price, if you decide you want out. It's even going to be tough to give it away.

I think you should look into a package of points with low MF's that you can get free or nearly free.

You would be wise to tell us where you want to travel, so we can help you decide what to buy.

We love timeshare, and that is why most of us are here on TUG. We don't buy retail. I bought resale weeks and didn't know Wyndham was going to take over the resort, when I bought my weeks. Wyndham gave us a great deal for Platinum, which is why we did it. We paid less than you did for 154K points because our resale weeks were converted. I think it was around $17K to get about 1.3 million points. That is a deal they do not do anymore, not that I know of.

What you have is a small points package that you cannot resale for $1.00. It's true. Whatever benefits you get for RCI nightly stays (which are not great, by the way) are not worth $23K.

If I was starting over today, I would buy either WorldMark (you can buy a lot of WorldMark points for $23K), or I would buy a couple of good weeks as traders with Interval International, probably a lower-priced platinum Marriott (like maybe Palm Desert, CA) or a Sheraton Desert Oasis platinum week. I am not fond of RCI. I deal with RCI a little bit, but it's II that gives me the trades that I really can get excited about.
Thank you so much!! Looks like we will be rescinding. So now to find the steps on that and then will be looking for advice on purchasing. I think it is something we want to do but finding the best option. We love to travel and have kids. We live Disney, cruises but like to just go places. We are open to seeing new places.
 

Karen G

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Looks like we will be rescinding. So now to find the steps on that
Look through all your paperwork. There should be info on where to send your rescission letter. The main thing to do is to send it by certified mail so that you have a receipt from the post office showing that you mailed it within your rescission time limit. Be sure everyone who signed the purchase contract signs the rescission letter. It doesn't have to be complicated--just a simple statement that you are exercising your legal right to rescind the purchase. You might even include a copy of the first page of your contract showing when it was made, what you bought, etc.

Another thing: Don't contact your salesman or anyone in the sales dept. They won't want you to cancel and they will do their best to convince you not to.
 

Richelle

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Please don’t just commmet rescind without some reason why.

Ok we are new to timeshares. We have friends that own them with different companies and we have looked at them multiple times and we are numbers people. We travel a lot and do tend to end up spending a lot on vacations it seems in the last couple years. We have two younger children. We bought into a time share yesterday and excited but of course joined a bunch of groups and reading mixed reviews and now not sure if it was the best approach or not. I thought I was familiar with them to an extent but have now found so many more boards and realized I was not. We have time to rescind so I would like honest opinions. It does seem there is benefits from buying through the company so I would like to hear both sides. We are flexible on dates and we like to go to different places and go to where timeshares are. We liked that we could exchange for RCI.

We got a total of 154,000 points with 246,000 bonus points which puts us VIP Until 12/20. Through Wyndham club. We have unlimited last calls. Our maintance fee is $86/month and we got it for $23,000. We were able to do this with half 0% interest for 15months and the remainder 14% and plan on paying the other half off pretty quick so it doesn’t cost much more than what we pay. In the last two years we have gone to Disney twice. I do see listings on eBay for points for obviously way cheaper but not sure on the extras and perks.
Rescind for a couple reasons (some already mentioned, but I’ll echo)

First, buying from the resorts is always the most expensive way to get points. It’s like buying souvenirs inside Disney when both your Disney Euphoria and prices are the at their highest. You could get that same package (including bonus points and temp VIP) for about $20,000 from corporate telesales. Sometimes they even have cash rebates. You can get the same package on eBay for free, and you might not even have to pay closing costs and transfer fees.

Second, what you did, was the equivalent of walking into a random car dealership and buying a car on the spot with no research or price comparison. That is crazy to me, and I believe to you too. We research the next car we are going to buy, but a lot of people don’t research timeshares, even though they cost roughly the same. If you rescind now, you can take your time researching your options. There are a lot of other timeshare systems out there, or you could just rent from another owner. I’m partial to Wyndham because there are more options inside the system then others have. If you stay inside the Club Wyndham system, the only time you have to pay a fee to book, is if you run out of reservation transaction credits or housekeeping credits. Speaking of which, did you research the fees? I like Wyndham because their fees are lower compared to most systems. They don’t charge you to cancel but you’ll want to do that 15 days or more out so you don’t forfeit your points.

Third, you might be able to just go with straight resale. With resale, you don’t get VIP, Club Pass, the ability to convert your points to Wyndham rewards, or Plus Partners. A lot of people here only have resale and are perfectly happy with it. You may not need those extra benefits. I generally recommend people either rent for awhile, or buy a resale contract on eBay when they are first starting out. Pick a contract like CWA or Bonnet Creek. Those will be cheap (not usually free though) and easy to dump if you decide timesharing is not right for you. You can find someone to take it off your hands, or turn it into Ovations. You don’t want to do this with retail, unless you have no other choice, because you’d be throwing away $23k.

Fourth, you really need to decide if timesharing is right for you. It’s not for everyone. It works best for people who can plan 13 months or more out when availability is the best. That’s not to say it won’t work for people who travel last minute, but you will have to be much more flexible in where you go. Also, the maintenance fees increase every year. Normally it’s 1% to 5% a year, although some are more and some go down. If you get caught in a financial bind, they can be tough to unload quickly. Having a popular contract will help, but it can sometimes take 3-6 months to get rid of. That does not help you if you got laid off or unable to work because of illness.

Fifth, the reasons you bought in, might not be real. The sales people like to embellish, stretch the truth, or outright lie. Someone said the #1 reason people are angry about their purchase is because they feel like they got ripped off. They feel that way because they were feed a lot of misinformation and bought based off that misinformation. When they got the real information, they realized there is not as much perceived value (and monetary value) as they thought there was. They may feel if they had the real truth, they either would not have purchased, or would not have paid as high of a price. Also, their anger is not just towards the sales person. They are angry at themselves for not doing their due diligence, to make sure what the sales person told them was the actually truth, instead of blindly trusting them.

Finally, the fact that you are here, asking that question, should tell you something. Your gut is telling you something is not right. Trust your gut. You can always go back and buy from telesales at a cheaper price if you want those retail benefits, or buy resale. Just do your research to make sure timesharing and Wyndham is right for you. Disney is another nice system, but the resale value is not as cheap as Wyndham or other systems because Disney exercises right of first refusal. If someone bought a Disney contract for $1,000, Disney could choose to refuse the transfer, but they would have to pay the seller the $1,000 and take it back. The original buyer would get their money back, but they would have no timeshare. The last one I saw on eBay went for about $14,000 and I think it was for 150 points, but I might be wrong on the # of points. There is no way of knowing if Disney exercised their right if first refusal on that one. Disney has fewer internal options, but they do have an exchange program like Wyndham does.

I am a gold VIP, and don’t regret it. When I first bought 10 years ago, I mostly knew what I was walking into because my parents had a timeshare. I knew about the increasing maintenance fees. I knew that you had to plan ahead. I also knew the cancel rebook tactic the sales guy was trying to tell me was a “benefit” was actually a loophole that Wyndham would eventually close, and they did, nine years later. I was in my 20’s and could smell his Bs a mile away. Maybe my BS meter is more finely tuned then others. I hope this gives you enough reasons to consider. Just make sure, if you have not already, to check your contract to confirm you’re still in the rescission period, and how much time you have left.


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jwalk03

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I'll add to the chorus! Rescind and save yourself $23,000 that will be completely gone once your recession period is over.

My wife and I love to travel and also have 2 young children- so staying in a timeshare is one million times better than staying in a crappy hotel. It just makes the vacations so much better for us and our children to have separate rooms, and a full kitchen, and laundry. We have stayed at multiple Wyndham resorts over the last 3 years and loved their product, but I would NEVER buy from the developer. As a matter of fact I have had great success getting very reasonably priced rentals from TUG and from Redweek without having the liability of becoming an owner (and paying MFs) at all. This gives us great flexibility so we can vacation on our terms without a large upfront purchase or annual MFs. Also allows us to stay in other systems when they work better for a particular trip.

I would recommend renting first (and trying multiple systems to see which fits you best.) We have stayed at Wyndham, Marriott, Holiday Inn Club, Bluegreen, Westgate, and even an independent timeshare in the last 3 years. Try it out for a while, and maybe in a few years there will be a system you like the best, and can find a great RESALE purchase that works for you and your family.

BUT make sure your rescind this purchase while there is still time, before you worry about future vacation planning. You only have one chance to rescind and save yourself $23,000- that will pay for lots of fabulous vacations for your family instead of lining Wyndham sales weasels pockets!!
 

Jstowell555

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Rescind for a couple reasons (some already mentioned, but I’ll echo)

First, buying from the resorts is always the most expensive way to get points. It’s like buying souvenirs inside Disney when both your Disney Euphoria and prices are the at their highest. You could get that same package (including bonus points and temp VIP) for about $20,000 from corporate telesales. Sometimes they even have cash rebates. You can get the same package on eBay for free, and you might not even have to pay closing costs and transfer fees.

Second, what you did, was the equivalent of walking into a random car dealership and buying a car on the spot with no research or price comparison. That is crazy to me, and I believe to you too. We research the next car we are going to buy, but a lot of people don’t research timeshares, even though they cost roughly the same. If you rescind now, you can take your time researching your options. There are a lot of other timeshare systems out there, or you could just rent from another owner. I’m partial to Wyndham because there are more options inside the system then others have. If you stay inside the Club Wyndham system, the only time you have to pay a fee to book, is if you run out of reservation transaction credits or housekeeping credits. Speaking of which, did you research the fees? I like Wyndham because their fees are lower compared to most systems. They don’t charge you to cancel but you’ll want to do that 15 days or more out so you don’t forfeit your points.

Third, you might be able to just go with straight resale. With resale, you don’t get VIP, Club Pass, the ability to convert your points to Wyndham rewards, or Plus Partners. A lot of people here only have resale and are perfectly happy with it. You may not need those extra benefits. I generally recommend people either rent for awhile, or buy a resale contract on eBay when they are first starting out. Pick a contract like CWA or Bonnet Creek. Those will be cheap (not usually free though) and easy to dump if you decide timesharing is not right for you. You can find someone to take it off your hands, or turn it into Ovations. You don’t want to do this with retail, unless you have no other choice, because you’d be throwing away $23k.

Fourth, you really need to decide if timesharing is right for you. It’s not for everyone. It works best for people who can plan 13 months or more out when availability is the best. That’s not to say it won’t work for people who travel last minute, but you will have to be much more flexible in where you go. Also, the maintenance fees increase every year. Normally it’s 1% to 5% a year, although some are more and some go down. If you get caught in a financial bind, they can be tough to unload quickly. Having a popular contract will help, but it can sometimes take 3-6 months to get rid of. That does not help you if you got laid off or unable to work because of illness.

Fifth, the reasons you bought in, might not be real. The sales people like to embellish, stretch the truth, or outright lie. Someone said the #1 reason people are angry about their purchase is because they feel like they got ripped off. They feel that way because they were feed a lot of misinformation and bought based off that misinformation. When they got the real information, they realized there is not as much perceived value (and monetary value) as they thought there was. They may feel if they had the real truth, they either would not have purchased, or would not have paid as high of a price. Also, their anger is not just towards the sales person. They are angry at themselves for not doing their due diligence, to make sure what the sales person told them was the actually truth, instead of blindly trusting them.

Finally, the fact that you are here, asking that question, should tell you something. Your gut is telling you something is not right. Trust your gut. You can always go back and buy from telesales at a cheaper price if you want those retail benefits, or buy resale. Just do your research to make sure timesharing and Wyndham is right for you. Disney is another nice system, but the resale value is not as cheap as Wyndham or other systems because Disney exercises right of first refusal. If someone bought a Disney contract for $1,000, Disney could choose to refuse the transfer, but they would have to pay the seller the $1,000 and take it back. The original buyer would get their money back, but they would have no timeshare. The last one I saw on eBay went for about $14,000 and I think it was for 150 points, but I might be wrong on the # of points. There is no way of knowing if Disney exercised their right if first refusal on that one. Disney has fewer internal options, but they do have an exchange program like Wyndham does.

I am a gold VIP, and don’t regret it. When I first bought 10 years ago, I mostly knew what I was walking into because my parents had a timeshare. I knew about the increasing maintenance fees. I knew that you had to plan ahead. I also knew the cancel rebook tactic the sales guy was trying to tell me was a “benefit” was actually a loophole that Wyndham would eventually close, and they did, nine years later. I was in my 20’s and could smell his Bs a mile away. Maybe my BS meter is more finely tuned then others. I hope this gives you enough reasons to consider. Just make sure, if you have not already, to check your contract to confirm you’re still in the rescission period, and how much time you have left.


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Thank you! And we just did it yesterday. And I asked the sales guy how many days we had and it was 5. Which I do think caught him off guard for me to even be asking. But I own a business and have to sign a lot of contracts so I know there is always a period to get out of any contract.
 

Richelle

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Bay Club of Sandestin
Williamsburg Plantation
NO, this is not a benefit to them. There is no benefit to buying 154K points.
What you are staying is your opinion. A lot of people share your opinion, but it’s an opinion and not fact. I didn’t say spending $23,000 is a benefit to them. I said it was a benefit to people who are working their way up to VIP. It’s a benefit to those people, because it gets them closer to their end goal. Whether or not VIP is worth it, is up to the person paying for it. It’s perceived value. Everyone places a different value on things. It’s not for me to say whether it should be a benefit to them or not, because it’s not my money.

What is a “benefit” is also up to the person paying for it. I didn’t buy into Wyndham for the “benefit” of Club Pass. However, some people want that, as an added option. I usually tell people who want that, that they could buy a resale WorldMark contract cheaper (and having better booking privileges with no exchange fee), but some people want both, but don’t want to manage two separate timeshares. So they are paying for the “benefit” of only having to deal with one, and having access to both. Again, not worth it to me, but might be worth it to someone else. It’s not right or wrong. Its just preference.


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Richelle

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Bay Club of Sandestin
Williamsburg Plantation
Thank you! And we just did it yesterday. And I asked the sales guy how many days we had and it was 5. Which I do think caught him off guard for me to even be asking. But I own a business and have to sign a lot of contracts so I know there is always a period to get out of any contract.
If it really was 5 days, I’m surprised he told you the truth. I even see in some of the Facebook groups, sales people telling them they have 15 days to rescind, when they has much less then that. I’ve heard some people say their sales person lied to their face about it. I’m glad you ended up here. Whatever you decide, is your choice. Assuming it doesn’t risk your financial security, whatever you decide, will be the right choice, for you. Don’t let anyone tell you retail is a bad choice, or that resale is a bad choice. It’s YOUR choice. Only you can say what’s a benefit you you, and what’s right for you.


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Panina

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Rescind for a couple reasons (some already mentioned, but I’ll echo)

First, buying from the resorts is always the most expensive way to get points. It’s like buying souvenirs inside Disney when both your Disney Euphoria and prices are the at their highest. You could get that same package (including bonus points and temp VIP) for about $20,000 from corporate telesales. Sometimes they even have cash rebates. You can get the same package on eBay for free, and you might not even have to pay closing costs and transfer fees.

Second, what you did, was the equivalent of walking into a random car dealership and buying a car on the spot with no research or price comparison. That is crazy to me, and I believe to you too. We research the next car we are going to buy, but a lot of people don’t research timeshares, even though they cost roughly the same. If you rescind now, you can take your time researching your options. There are a lot of other timeshare systems out there, or you could just rent from another owner. I’m partial to Wyndham because there are more options inside the system then others have. If you stay inside the Club Wyndham system, the only time you have to pay a fee to book, is if you run out of reservation transaction credits or housekeeping credits. Speaking of which, did you research the fees? I like Wyndham because their fees are lower compared to most systems. They don’t charge you to cancel but you’ll want to do that 15 days or more out so you don’t forfeit your points.

Third, you might be able to just go with straight resale. With resale, you don’t get VIP, Club Pass, the ability to convert your points to Wyndham rewards, or Plus Partners. A lot of people here only have resale and are perfectly happy with it. You may not need those extra benefits. I generally recommend people either rent for awhile, or buy a resale contract on eBay when they are first starting out. Pick a contract like CWA or Bonnet Creek. Those will be cheap (not usually free though) and easy to dump if you decide timesharing is not right for you. You can find someone to take it off your hands, or turn it into Ovations. You don’t want to do this with retail, unless you have no other choice, because you’d be throwing away $23k.

Fourth, you really need to decide if timesharing is right for you. It’s not for everyone. It works best for people who can plan 13 months or more out when availability is the best. That’s not to say it won’t work for people who travel last minute, but you will have to be much more flexible in where you go. Also, the maintenance fees increase every year. Normally it’s 1% to 5% a year, although some are more and some go down. If you get caught in a financial bind, they can be tough to unload quickly. Having a popular contract will help, but it can sometimes take 3-6 months to get rid of. That does not help you if you got laid off or unable to work because of illness.

Fifth, the reasons you bought in, might not be real. The sales people like to embellish, stretch the truth, or outright lie. Someone said the #1 reason people are angry about their purchase is because they feel like they got ripped off. They feel that way because they were feed a lot of misinformation and bought based off that misinformation. When they got the real information, they realized there is not as much perceived value (and monetary value) as they thought there was. They may feel if they had the real truth, they either would not have purchased, or would not have paid as high of a price. Also, their anger is not just towards the sales person. They are angry at themselves for not doing their due diligence, to make sure what the sales person told them was the actually truth, instead of blindly trusting them.

Finally, the fact that you are here, asking that question, should tell you something. Your gut is telling you something is not right. Trust your gut. You can always go back and buy from telesales at a cheaper price if you want those retail benefits, or buy resale. Just do your research to make sure timesharing and Wyndham is right for you. Disney is another nice system, but the resale value is not as cheap as Wyndham or other systems because Disney exercises right of first refusal. If someone bought a Disney contract for $1,000, Disney could choose to refuse the transfer, but they would have to pay the seller the $1,000 and take it back. The original buyer would get their money back, but they would have no timeshare. The last one I saw on eBay went for about $14,000 and I think it was for 150 points, but I might be wrong on the # of points. There is no way of knowing if Disney exercised their right if first refusal on that one. Disney has fewer internal options, but they do have an exchange program like Wyndham does.

I am a gold VIP, and don’t regret it. When I first bought 10 years ago, I mostly knew what I was walking into because my parents had a timeshare. I knew about the increasing maintenance fees. I knew that you had to plan ahead. I also knew the cancel rebook tactic the sales guy was trying to tell me was a “benefit” was actually a loophole that Wyndham would eventually close, and they did, nine years later. I was in my 20’s and could smell his Bs a mile away. Maybe my BS meter is more finely tuned then others. I hope this gives you enough reasons to consider. Just make sure, if you have not already, to check your contract to confirm you’re still in the rescission period, and how much time you have left.


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The best complete answer I have read. We should copy, paste and change the specifics for others when they ask the question.
 

bnoble

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we are numbers people. ... It does seem there is benefits from buying through the company so I would like to hear both sides.
If you are numbers people, run the numbers. When I've done this, the only way to get a developer purchase to pay off is if you get the best possible VIP discount on every stay, every time---and even then, the time horizon for break-even is awfully far into the future. A lot can change between now and that day.

RCI is available to you either way. I am a resale-only buyer, and I am typing this from a 1BR unit at Bluegreen's Mountain Run at Boyne. I paid about $225 for the entire week using a deep sale RCI had in late September/early October. I am an easy walk from the main lodge, and got a little skiing in this afternoon.
 

Xcalibur

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NO, this is not a benefit to them. There is no benefit to buying 154K points. 154K Wyndham points, even in the Wyndham system, are not worth much resale. That is the reason to rescind.

What you bought literally can be had for free via resale. Basically, you lose 100% of your purchase price, if you decide you want out. It's even going to be tough to give it away.

I think you should look into a package of points with low MF's that you can get free or nearly free.

You would be wise to tell us where you want to travel, so we can help you decide what to buy.

We love timeshare, and that is why most of us are here on TUG. We don't buy retail. I bought resale weeks and didn't know Wyndham was going to take over the resort, when I bought my weeks. Wyndham gave us a great deal for Platinum, which is why we did it. We paid less than you did for 154K points because our resale weeks were converted. I think it was around $17K to get about 1.3 million points. That is a deal they do not do anymore, not that I know of.

What you have is a small points package that you cannot resale for $1.00. It's true. Whatever benefits you get for RCI nightly stays (which are not great, by the way) are not worth $23K.

If I was starting over today, I would buy either WorldMark (you can buy a lot of WorldMark points for $23K), or I would buy a couple of good weeks as traders with Interval International, probably a lower-priced platinum Marriott (like maybe Palm Desert, CA) or a Sheraton Desert Oasis platinum week. I am not fond of RCI. I deal with RCI a little bit, but it's II that gives me the trades that I really can get excited about.
Hi,

how were you able to get both RCI and II memberships? I thought that wasn't possible... I've been looking to do that for awhile as it's nice to have more trading options...

thanks!
 

paxsarah

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Hi,

how were you able to get both RCI and II memberships? I thought that wasn't possible... I've been looking to do that for awhile as it's nice to have more trading options...

thanks!
rickandcindy23 own many non-Wyndham properties and I'm sure one (or more) of them trades in II. It's impossible to trade in both RCI and II with a Wyndham points account.
 
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