Just purchased a timeshare thinking of canceling

[Howie411 Junior Member Find all posts View Profile Close Howie411]

Purchased a Timeshare this weekend from Wyndham Vacation Resorts Inc, now I'm thinking of canceling I have 7 days.

Here are some reason I'm thinking of canceling.

After reading a lot of information online it seems a lot of people are unhappy with this whole point system not being able to get rooms when they want or getting the wrong things they signed up for.

Also they really misrepresented the free deals I was getting just for coming in to listen to the presentation. Free airline tix, ok but I gotta stay at one of their over priced places and its only good for like 14 places. Their Get Up And Go, has so many restrictions I lost count after the first 10. Makes it way to difficult to use these.

Anyways this is what I ended up with:


Purchase price 25k
Discount - $7200 oh and they threw is a free Saint Thomas Trip (which is also almost impossible to redeem because of restrictions)
Down Payment $1800
Amount Financed 16.5k
Total after payments 31k.

This is for 126,000 points a year

*edit* forgot to mention they also threw in an additional 126,000 points for the first year.

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

Rescind NOW

The Wyndham points system is a great one - but NOT at $25,000! You can by 126,000 Fairshare Plus Points (not enough by the way - you want at least 180,000/annual) for $2000 or less. Why would you pay $20 or $25,000 for the EXACT SAME THING?

You have been exposed to a great points based system, I'm not saying it isn't. But at $20,000 +, regardless of the "freebies" that aren't, is NOT a good system when 90% or more of your purchase price will evaporate on that seventh day when you no longer can rescind and now owe the whole $20,000+ plus annual fees (the same fees as the resale buyers pay but they saved $20,000+ to fund it for 25-30 years while you didn't). Rescind. Now. Then buy resale if you liked what you saw but DO NOT keep retail prices points unless you enjoy losing money.

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

Why would anybody buy ...

Why would anybody buy points RETAIL at $165/k when points are available on eBay for $10/k????...

Why would anybody buy ANY points with a typical annual maintenance fee of $5/K PLUS 'lost opportunity' cost (ie. points purchase rather than investing the funds) when points can be rented for $6/k???...

Joe Tragesser

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

It is a great point system. But rescind now, until you figure out the reale value, and wat you actually get, it does not worth to keep it.

Follow whatever says in your contract on how to resind, don't wait till last day.

Jya-Ning

[4ARedOctober Super Moderator Find all posts View Profile Close 4ARedOctober]

It's a good thing you are doing your research. Rescind now and save yourself tens of thousands of dollars. I recently purchased Wyndham all resale at one of their new resorts.

Follow your contract details telling you how to rescind and do it immediately. Then take your time and find out what is best for you and your family and research resales.

Good luck.

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

Wyndham has one of the better points systems going with a very large number of resorts for internal exchanges. It seems to me that most people who have trouble with or complain about points based reservations systems are those that don't take the time to really learn how to use them.

However, as noted above it is NOT a good idea to buy directly from Wyndham. You can buy points resale of E-bay for a fraction of the cost you've paid the developer. RESCIND NOW! Spend some time on these forums and learn about the system and how best to purchase on the resale market if you still think you're interested.

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

I am completing a Wyndham/FSP points purchase totally 329,000 points for under $4,000.

Rescind NOW and then start reading our Wyndham board to find out what and where to purchase.

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

Good for you for doing your homework before you lose all your money...go ahead and rescind, then learn, then purchase, at a much lower cost.
Welcome to this forum!
Connie

[charlie_m Member Find all posts View Profile Close charlie_m]

Why would anybody buy points RETAIL at $165/k when points are available on eBay for $10/k????...

Why would anybody buy ANY points with a typical annual maintenance fee of $5/K PLUS 'lost opportunity' cost (ie. points purchase rather than investing the funds) when points can be rented for $6/k???...

Joe Tragesser

Unfortunately because they went on a tour. The slugs (I am a former one with Worldmark albeit for a short time) show you how great timeshare owning is, put you in the ether and the TO takes down the pot...you. No disrespect but it happens. Rescind ASAP, follow the advice here and buy on the open market. Save thousands!!! Timeshare is great and beats hotels for around the same money or actually less so ENJOY!!

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

Why would anybody buy points RETAIL at $165/k when points are available on eBay for $10/k????...

Why would anybody buy ANY points with a typical annual maintenance fee of $5/K PLUS 'lost opportunity' cost (ie. points purchase rather than investing the funds) when points can be rented for $6/k???...

Joe Tragesser

Joe, how would anyone KNOW that the same ownership can be purchased for so much less and that u can also rent additional points for $6 per thousand unless the OP did an internet search and found US or another Timeshare sight????

OP did the right thing and should be getting a pat on the back from us after he rescinds...don't you agree?

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

I am completing a Wyndham/FSP points purchase totally 329,000 points for under $4,000.

Rescind NOW and then start reading our Wyndham board to find out what and where to purchase.

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

Hopefully I will live to see them all transfered to my name....

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

Hopefully I will live to see them all transfered to my name....

After you get them all, you'll want more!

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

After you get them all, you'll want more!

Hey, I am trying to be good - and thinking about another Marriott

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

Hey, I am trying to be good - and thinking about another Marriott

What? a Horizon Branson EOY platiunum 2BR lo?