New owner, did I screw up?

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

My wife and I just got back from Vegas. We saw 3 timeshare presentations. The street greeters are brutal! On the plus side we got all the "gifts" we negotiated.
We saw Grandview, Planet Hollywood and Jockey Club.
Jockey Club was the only one that started the negotiations at their lowest price point.
So we bought.
We paid $8700. We are getting 15000 RCI points EOY. MF is $300 a year.
Also got a bonus week every year.
Also got some freebies but until I use them I have no idea of the value of a hawaii trip or a cruise.

I liked the fact that if we book 30 days or less we can get a week for 4950 points.

So like I said in my title, did I screw up?

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

You did pay too much, but many of us did when we first got started.

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

Oh dear,
15000 RCI points is a very small package, especially EOY, so you will have a hard time finding something to use them with. The mf's are OK but the cost is very high, you can find 75,000 EY RCI points on ebay for $1. Is it too late to rescind? You can spend some time researching timesharing before spending so much money on a questionable purchase.

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

Anything over $1,000 for a Timeshare is to much these days, except in a few cases. You can buy them on E.bay for $1 plus closing costs.
As for your choice, I may stand corrected but the jockey club I believe is the older of the 3 you went to see. I own at the Grandview and really like it, but will always regret paying full price at the time, but I knew no different back then.
Hope you enjoy it, we certainly have no regrets in owning the timeshares we have. I just wish I'd done some research before buying them, I could have saved quite a bit of money. I'll rephrase that I could have saved myself a lot of money.

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

The best way to tell if you got a good deal is if you are sure that you are going to use it and if it is less expensive than paying cash for the room, year after year. Other people will always have an opinion, but yours is the only one that matters when it comes to your own vacations.

[Pstreet1 Senior Member Find all posts View Profile Close Pstreet1]

It's true that you use few points if you book 30 days or less from arrival--but they have to have the space for you to book. At popular times, there's zero chance they will.

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

I rescinded

I actually had to send a telegraph. I signed this on 6/29 and the contract said I had 5 calendar days to cancel following the date of execution. Just my luck that day 4 is a Sunday and day 5 is a holiday.
My options were telegraph, in person or certified mail. Well i'm not in Vegas and the post office is closed.

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

Wow, only 5 days.
Nevada sure does stick it to the TS newbies.
In Florida you have 10 days.
You did the right thing rescinding.

RCI Points is a great system but not at the price for such little points.
Do your homework and buy something resale. I think you won't regret it if you buy it resale. I love my RCI points. I get alot of mileage out of a small points package but 15K EOY is way too small. You can get a decent 25K triennial unit at Vacation Village at Parkway on ebay pretty reasonable. I don't think they go for only $1 but less than $1000 is possible. Definitely beats paying 8K for 1/3 the points.

Stick around here and you'll learn all you ever wanted about timeshares and how to use them.

[falmouth3 Senior Member Find all posts View Profile Close falmouth3]

Well, good for you to do your research on how to rescind. I'm glad you found a way to do it in time.

Stick around here and ask a lot of questions and you'll find some good timesharing options.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

The 4950 point week at 30 days is not RCI point terminology, it is what a Geo Holiday week costs at 30 days. this is what they are selling at Jockey Club now.
Glad u were able to rescind.

My wife and I just got back from Vegas. We saw 3 timeshare presentations. The street greeters are brutal! On the plus side we got all the "gifts" we negotiated.
We saw Grandview, Planet Hollywood and Jockey Club.
Jockey Club was the only one that started the negotiations at their lowest price point.
So we bought.
We paid $8700. We are getting 15000 RCI points EOY. MF is $300 a year.
Also got a bonus week every year.
Also got some freebies but until I use them I have no idea of the value of a hawaii trip or a cruise.

I liked the fact that if we book 30 days or less we can get a week for 4950 points.

So like I said in my title, did I screw up?

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

You did well to rescind. Now find a nice resale package if you want to be an owner or look around for all the great deals out there by renting.

Congratulations - you dodged a bullet. NEVER by timeshare retail.