Just how bad was I duped?

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

I'm a newbie and I bought from the developer while on vacation. Just wanted to get a sense from those with experience how bad I did. I was simply ignorant on TS issues. It didn't seem like a bad idea at the time. I usually make sound financial decisions and my credit score of 874 reflects that. Anyway, here is what I got into:

http://www.intervalworld.com/web/cs?...ResortCode=HEC

Its currently under construction but operational. So I have a studio for one week every other year for 40 years. My "bonus" was a premier week on the odd years which I don't have to pay MFs on unless I use it. My MFs on the even years are $458 and a double payment on the quinquinial years (every 10th year in this case) The cost was $13,590 of which 3510 was charged immediatly as a down payment. So this place is in Cabo San Lucas. I didn't really start looking into any of this until today. I would back out of it if I could. We bought it 8 business days ago and the cancellation period was 5 days so it looks like we're stuck. I'm still gonna see what I can do since it couldn't hurt to ask. So question 1: How bad was I raped? Question 2: Any way I can still back out that you know of?

In the end, if I have to stick with it, I'll try to make the best of it and not complain all the time. I can't even register in II yet since I only have my temporary membership card. Without logging in I can only browse the resorts. I don't know what my trading power is or anything. Any advice, consolation, information, etc will be greatly appreciated.

~Jesse

[bigfrank Administrator Find all posts View Profile Close bigfrank]

You can recind with in the first 5 days. How long ago did you buy?

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

I'm a newbie and I bought from the developer while on vacation. Just wanted to get a sense from those with experience how bad I did. I was simply ignorant on TS issues. It didn't seem like a bad idea at the time. I usually make sound financial decisions and my credit score of 874 reflects that. Anyway, here is what I got into:

http://www.intervalworld.com/web/cs?...ResortCode=HEC

Its currently under construction but operational. So I have a studio for one week every other year for 40 years. My "bonus" was a premier week on the odd years which I don't have to pay MFs on unless I use it. My MFs on the even years are $458 and a double payment on the quinquinial years (every 10th year in this case) The cost was $13,590 of which 3510 was charged immediatly as a down payment. So this place is in Cabo San Lucas. I didn't really start looking into any of this until today. I would back out of it if I could. We bought it 8 business days ago and the cancellation period was 5 days so it looks like we're stuck. I'm still gonna see what I can do since it couldn't hurt to ask. So question 1: How bad was I raped? Question 2: Any way I can still back out that you know of?

In the end, if I have to stick with it, I'll try to make the best of it and not complain all the time. I can't even register in II yet since I only have my temporary membership card. Without logging in I can only browse the resorts. I don't know what my trading power is or anything. Any advice, consolation, information, etc will be greatly appreciated.

~Jesse

Stick around here and learn how to enjoy it. Welcome to timeshare ownership/lease. Only you know how much you previously spent on vacations and how the purchase made sense to you. Could you have done better, not at a brand new resort, but there are lots of resorts in Cabo. Have fun, don't look back.

You can recind with in the first 5 days. How long ago did you buy?

Hey BF, did you read the post.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Hey BF, did you read the post.

Did not see where he said when it was purchased just saw that he was on Vacation.

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

What resort is this? Your link to II just took me to my log in page.

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

What resort is this? Your link to II just took me to my log in page.

http://www.intervalworld.com/web/cs?...ResortCode=HEC
go to the directory and put in HEC.

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

Looks like a nice resort, so since you are stuck with it- hang around and pick up some tips on how to use it. Yep, you paid way too much - but from the developer is not the way to buy.

[arlene22 Senior Member Find all posts View Profile Close arlene22]

Don't feel too bad. Many of us here (myself included) bought our first timeshares from the developer, unaware that we could buy the same thing much cheaper on the resale market. It's the lucky few who find this out before they buy! Hopefully you will enjoy your purchase for many years to come. And if you turn out to be a timeshare junkie like us, you will buy your next one resale and save a bundle.

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

Don't feel too bad. Many of us here (myself included) bought our first timeshares from the developer, unaware that we could buy the same thing much cheaper on the resale market. It's the lucky few who find this out before they buy! Hopefully you will enjoy your purchase for many years to come. And if you turn out to be a timeshare junkie like us, you will buy your next one resale and save a bundle.

Thanks for the consolation Arlene. Likewise to Tony and Spence. I look forward to learning how to work the system. And while my wife and I are both 29 yrs old and financially independent, we are still not looking forward to telling our parents! My mother-in-law will react this way: My mom will react this way: followed by Emoticons make story tellling easy! How do some of you folks find the time to use multiple TSs? I only have 16 days of vacation a year.

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

Thanks for the consolation Arlene. Likewise to Tony and Spence. I look forward to learning how to work the system. And while my wife and I are both 29 yrs old and financially independent, we are still not looking forward to telling our parents! My mother-in-law will react this way: My mom will react this way: followed by Emoticons make story tellling easy! How do some of you folks find the time to use multiple TSs? I only have 16 days of vacation a year.

Instead of telling your mothers, learn how to use the TS and start enjoying great vacations. At some point, they will ask how do you do this and then you can tell them your method to this madness.

Really, you can learn how best to use this new purchase here on TS4MS. With this purchase, you will not have to worry about vacationing more than 16 days a year. At this point, what you have purchased will hopefully meet your needs at this time.

ETA

If you learn nothing more from this website, you will have the most success in exchanging TS if you learn to plan at least a year in advance. The best approach is to have fun doing the planning. It does become addictive.

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

Thanks for the consolation Arlene. Likewise to Tony and Spence. I look forward to learning how to work the system. And while my wife and I are both 29 yrs old and financially independent, we are still not looking forward to telling our parents! My mother-in-law will react this way: My mom will react this way: followed by Emoticons make story tellling easy! How do some of you folks find the time to use multiple TSs? I only have 16 days of vacation a year.

Don't tell your parents! HA HA Just kidding. No really. If you can't use it you can always try to rent it to a family member or friend or try using one of the timeshare websites to rent it. You can post it on this website, TUG, redweek.com to name a few. I would just try to relax at this point and enjoy what you have and not beat yourself up over it. Do your best to use it, and if not, rent it. 16 Days of vacation is allot compared to some folks (me included). It only takes 5 days of vacation to use that week!
K

[morgancita Member Find all posts View Profile Close morgancita]

We fell for the same scam!

How funny (and somewhat reassuring) to read your post just as my fiance and I are in the process of realizing how badly we think we were scammed, at the same resort as you!!! Sounds like you bought at Casa Dorada/Medano Beach?
We got junior suite every other year, but were made to believe that our price ($10K) also included this "amazing" VIP membership every year. Turns out the VIP thing, while costing $100/year also requires us to pay the maintenance fee at whatever resort we want to go to, so we save very little.
Our one hope now is that our resort is attractive to people who have good places to exchange, so we can make the most of it!
We're also considering selling...Any advice from anyone there??

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

Morgancita,

Actually our resort is Hacienda Encantada. It's between Medano Beach and Cabo San Lucas. Is your resort older? A junior suite for 10k vs. our studio for 13.5k. Ouch. You can look up our resort in II by typing HEC in the directory. Amazing view at our place. The room we were shown was gorgeous. Then you walk out onto this amazing balcony. That balcony and view had to be the selling point for many people. Many times I've seen places that don't live up to their pictures. In this case it's just the opposite. The pictures don't do the place justice.

I did this so I could go parasailing for free and ended up spending 13,500 dollars! At least the sunset cruise was a good time.

[morgancita Member Find all posts View Profile Close morgancita]

We did the sunset cruise, too, part of our incentive package. Loved it! We also got a rental car for 2 days. And we came home with the timeshare!

I don't think we're going to use it this year. Instead we're looking at exchanging it through I.I. to go somewhere new for the honeymoon. Looking into St. Maarten/St. Martin island...

Your attitude sounds positive, hope you enjoy the years of vacations to come!

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

Thanks for the consolation Arlene. Likewise to Tony and Spence. I look forward to learning how to work the system. And while my wife and I are both 29 yrs old and financially independent, we are still not looking forward to telling our parents! My mother-in-law will react this way: My mom will react this way: followed by Emoticons make story tellling easy! How do some of you folks find the time to use multiple TSs? I only have 16 days of vacation a year.

No reason to tell your parents anything about it. Take your luxurious vacations and let them puzzle over how you're doing it. Your money, your business.

Is that 16 days of vacation or is that sick + vacation + personal time?

I get a bank of 30 days Paid Time Off to include holidays, sick, personal, vacation. Assuming I don't get sick much and don't care to take off 4th of July or Labor Day, mine can stretch pretty far. Not far enuf to roll any over yet as I use it.

Plan well and leave yourself a cushion.

Plus, it doesn't always have to be used. It can be rented, or banked for future use, and maybe even to get a second unit for friends or family the same week you'll be there, etc. The possibilities are many.