Need your opinions. good deal or not?

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

I just got back from vacation in Mexico and went to a timeshare presentation at Sunscape Tulum.

I kept saying no-no-no and the last offer was the following: (Nov. 15/09)

3 weeks per year for 25 years
$2400 USD
no maintenance fee's or annual fees of any type.

i bought it but wondering if i made a bad decision?

is this a good deal? bad deal? fair deal? can i do better than this in the resale market? where is the best places to find deals in the resale market?

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

Do you mean $2400/year? Or $2400 up front and then no maintenance fees? If there aren't maintenance fees there'll be a yearly fee of some other kind - membership fee or whatever, and that cost is pertinent.

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

$2400 up front no annual fees of any type. one time payment of $2400 only. it works out to like $33/week or something like that..


supposedly the only fee's are if I exchange it for another hotel through RCI or something. but, other than fee's i pay to exchange, no annual fee's of any type


any other opinions?

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

It is all-inclusive resorts. So your MF will be included in all-inclusive deal. Does it has any discount on the all-inclusive fee? Is that all-inclusive discount the same or higher than the internet deal you can find in the discount internet site?

Usually, when you need to exchange the week in that kind of club to RCI, you will need to pay the fee that covers the MF. Check your contract about that.

Jya-Ning

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

$2400 up front no annual fees of any type. one time payment of $2400 only. it works out to like $33/week or something like that..


supposedly the only fee's are if I exchange it for another hotel through RCI or something. but, other than fee's i pay to exchange, no annual fee's of any type


any other opinions?

There is no way that's what the fine print says. There must at least be all-inclusive rates required when you stay there, probably will escalate over time.

[davhu1 Senior Member Find all posts View Profile Close davhu1]

Probably the same deal my colleague bought two years ago even thought I warmed him not to. He has yet to find a good place to go. Basically you just paid $2,400 to get undesirable, off-season or last minute units where you can probably can get elsewhere for just RCI exchange fee. Lots of Mexican AI weeks available (You paid still have to pay for the high AI fee).

Can you still cancel? Try calling to to reserve a vacation and see what you get. Don't be surprised the response is NOT AVAILABLE.

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

Cancel, cancel, cancel.

Please do extra due-diligence and examine the fine print.

No annual maintenance feel = "special yearly assessments".

It's all in the wording and they will hang you (and any other unsuspecting soul) on it.

Rescind ASAP.

Best,
B.

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

I read the first line and it said "I just came home from Mexico". I knew what you were going to ask. Hopefully you can still rescind. It is not a good deal. My guess is the way this works is that you don't have any additional fees to pay until you decide to take a week of vacation. Then you have to pay the fees. If you want to take 3 weeks in 1 year, then you pay the fees times 3. And it will be WAY more than $33 - not including your all inclusive fee.

Not a good deal by any means. So I hope you can rescind. Follow the directions that should have come with your membership packet. Follow them closely and do what they tell you.

Luckily you didn't spend a huge amount of money, (everything is relative) but you can do MUCH better.

Sue

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

Call your credit card company or bank if check/wire transfer now to stop charges.

Please let us know.

B.

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

update:

the all inclusive fee is $40/day.

If i successfully rescind, where exactly can I find good sources for timeshares in the resale market? I'm new to this!

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

Don't think "if" you rescind. You can always get that deal. Rescind NOW and then think about where you might want to buy something. Even better, spend some time reading here or on tug2.net.

Just to get a feel for the pricing, take a look at ebay. Type in "timeshare" in the search box. Also go to redweek.com - prices there can be wishes and hopes, though. Same with ebay. Some people want to make their "investment" back but they won't be selling their timeshare at those prices. Take a look at the completed sales for actual prices on ebay.

Sue

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

[QUOTE=batvision;356495]update:

the all inclusive fee is $40/day.
QUOTE]

BTW, that all inclusive fee is per person. Also, I think there are additional fees for use of the week. I can't swear to that because I own a week that has maintenance fees to be paid for each year. But my sister owns a week at an all inclusive - I think 40 weeks in 25 years and I'm pretty sure she pays a fee when she selects a week for deposit in RCI and then she pays RCI an exchange fee. And she pays an membership fee to RCI too. So it's not as inexpensive as one might think.

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

Are we to assume that is per person ? And is that the same for all seasons ?

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

If i successfully rescind, where exactly can I find good sources for timeshares in the resale market? I'm new to this!

Chiming in on the "rescind, now" routine. If the deal isn't what you thought it was, then there may be more ugliness you haven't found yet, so best to get clear of it.

There are a lot of good sources for timeshares - here, TUG, even e-bay for some, although I don't recommend that route unless you know what you're doing. Research first - it's best to buy at a place you'd like to go, so check the old sales at e-bay and the like. It's a lot easier to find a deal if you know what you're looking for and what things usually cost and what hidden charges to be aware of. I'm cautious, but I'd say don't buy until you know what questions to ask, and hopefully know the answers through someone other than the seller.

You had the right idea, posting here - hopefully you can rescind and find the deal that's best for you, or if for some reason you can't rescind (the time period allowed varies), then at least you have a resource for making the best use of what you have.

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

Also chiming in on "get out while you can!" Timeshares can be purchased for nothing, literally, and they are difficult to get rid of. I just gave a 3 bedroom red week back to the resort because I didn't want to pay the maint. fees any more. I was lucky; they took it; most won't, and you find people on ebay literally trying to give them away.

Take the advice offered here: get out of it. Then do research and buy responsibly and get what you know you understand and can use. You may even pick up what you're looking for without paying anything but closing costs--but you'll know what you are doing. Right now, you really know nothing.