Buyer'sremorse

[SDW Junior Member Find all posts View Profile Close SDW]

i was reading your response to sean from tai. you stated that if a person is beyond the cooling off period but within a month of buying the timeshare, there may be a little hope.
i bought with diamond resorts international on may 10
i want out of the contract. of, course, they will not cancel the contract. i have contacted bbb,ag(hawaii,ga,lv), and rico.
questions

1. is dri known for cancelling contracts within a month?
2. who else should i contact?
3. i bought 3500points for $9000. is that a good deal?
4. why do you enjoy timeshares?

[timeos2 Senior Member Find all posts View Profile Close timeos2]

3000 points in the Diamond system is virtually worthless . It won't get you a week anywhere except maybe a studio/1 bedroom at the lowest value periods, it cannot be resold (no market and no value) so $9000 is basically money gone for almost no return value.

I would try to contact everyone you can find at Diamond and ask to get out even if it isn't for 100% reimbursement. You have bought something with little or no use value I'm afraid. Good luck.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

i was reading your response to sean from tai. you stated that if a person is beyond the cooling off period but within a month of buying the timeshare, there may be a little hope.
i bought with diamond resorts international on may 10
i want out of the contract. of, course, they will not cancel the contract. i have contacted bbb,ag(hawaii,ga,lv), and rico.
questions

1. is dri known for cancelling contracts within a month?
2. who else should i contact?
3. i bought 3500points for $9000. is that a good deal?
4. why do you enjoy timeshares?

You are pretty much screwed. Diamond is one of the least owner friendly timeshare companies out there.

Your only chance is if you can prove that you did not receive a notice of your statutory rescission period. But, even if they did not provide it to you, it's difficult to prove since it will most definitely be in the file they keep for you.

I would just learn to use your points and add some cheap ones to make your ownership more usable.

If you took a loan, it may be worth ruining your credit for 7 years to default on it. See your personal financial advisor for a recommendation.

[dougp26364 Senior Member Find all posts View Profile Close dougp26364]

First, you're pretty much stuck. Second, there is no way I'd take the advice of ruining your credit over $9,000. Finally, while 3,000 points isn't very many points, you can combine them with next year and be able to use 6,000 points every other year or, save one years points into the next year and borrow the follwing years points to have 9,000 points for use at one time, making it essentially an every three year usage. 9,000 points will get you reasonalbe use at most DRI timeshares, either in a one bedroom or two bedroom unit.

If you're feeling remorseful about the purchase, it could be worse. I believe that, if a lot of the members were honest, you'd find many bought direct from the developer on their first purchase and, paid a lot more. In 1998 we bought our first timeshare from DRI for $18,900, which was a two bedroom fixed week at Polo Towers. We not only survived without ruining our credit but we learned how to manage our timeshare week, take great vacations and, now we own 6 every year timeshares and one every-other-year usage timeshare. It's been our prefered method to vacation since that first purchase back in '98.

Your best bet now is to maximize your usage by learning how to use it. As mentioned earlier, the resale market is pretty grim. That can be good or bad depending on your point of view. It's bad if you want to sell your ownership interest, it's great if you want to add more points on the cheap. Think less than $500 for an additional 3,000 points or, less than $1,000 for another 6,000 points. If you shop and pay attention, you might even find someone desperate enough to get out of their contract that they give you there points if you just pay the closing costs.

Sure you can look at this as doom and gloom but, what was it that sold you on buying the points in the first place? At this point, it's either eat the $9,000 loss or learn how to use what you purchased. Most of us on these forums have not only learned to use our purchases but, we've learned to maximize that purchase and have increased ownership utilizing the resale market.

[Tfish Member Find all posts View Profile Close Tfish]

Great reply for OP. Explains very well what options they have.