Is Wyndham's VIP worth it?

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

Having had a 154K resale-purchased, mortgage-free, converted fixed week contract for over a decade we've never considered VIP something that would benefit us. We now have the opportunity to acquire a second 154K converted fixed week contract, purchased through Wyndham staff.

We went into the meeting "knowing" that we were NOT going to spend money purchasing. Yes, we've been considering getting an additional week as our current one is a bit limiting since the change in exchange value through RCI, but we hadn't been pursuing it.

What we are being offered that is causing us to pause and actually consider this...

We would come out with 308K points, grandfathered into VIP forever, with the purchase cost fixed to match our current monthly MF expense. The "sounds too good to be true" part is that by being VIP we would save enough money in various fees and discounts to be able to offset (i.e. cover) the maintenance fees. It's the "got to have money to make money" philosophy. By being VIP we would supposedly reap enough benefit from VIP perks to be able to cover the doubled maintenance fees, especially when we include the benefits afforded by the Wyndham Rewards program. Theoretically our current monthly payment will not change, but just be redirected to pay the new mortgage(?) on the newly purchased contract.

So here's the conundrum. I know we can get this same/comparable week resale on our own for a tiny fraction of their purchase price. Doing so however will still double our maintenance fee (2 weeks = double fees) and even though we'd own 308K points we would not get any of the benefits that Wyndham reserves for its preferred (i.e. original) owners. Do VIP owners really enjoy such delicious benefits???

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

RUN AWAY from this offer! There is no way you will reap enough benefits from VIP to cover the extra maintenance fees! We are VIP Gold and don't get that much in benefits to cover the extra costs that we have spent buying from the developer. We defenitley regret our purchase. The salesman use a lot of FUZZY math to make it look good on paper. DON"T DO IT! It would take years to make up the purchase price (if ever).

PS.... Welcome to TS4Ms!

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

NO!!! VIP is one of the worst sales gimmick's - ie ripoffs - going! Even if the price you have to pay to get it was worth it (and it is NOT - it would take you two lifetimes to breakeven on cost vs value gained) the benefits, which are minimal, are not guaranteed, not transferable and thus have no value once you pay big for them.

The cost of Wyndham points resale make them a great deal while VIP is a total waste of money that exists solely to make the [S]sucker[/S] buyer feel "oh so special" and Wyndham / sales weasels plenty of undeserved cash. RUN AWAY!

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

The only time I would recomend an owner obtain a developer purchase for VIP, is once a resale buyer has accumulated approximately 900,000 annual points. At that time, it could make financial sense to purchase a small developer allotment with the intent of consolidating all the resale points into a single deed (or two) with the home resort that has the lowest maintenance fees. In that instance, the lower annual cost and the financial benefit of the platinum VIP level offsets the acquisition cost. Within just a few years, you'd be on the plus side financially.

However- the lower VIP levels don't provide enough value in my opinion..

You can see the current VIP benefits and levels at this link..

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

The deal is incorrect on many levels. I thought the change in VIP levels took place in October of last year. If that is the case 308k will not get you VIP and even if it did it is the lowest level and I think the benefits are really minimal at that level. Next they use a lot of double talk but there is no way they will sell you something so that now you have double the points and at least close to double the MF's (it may be slightly less depending on the MF's of where you buy) plus payments of a mortgage of how much- $20-30,000? and have no additional out of pocket unless you currently spend $500,000 or so a month on a credit card and then pay it off monthly and would be willing to switch that spending onto a Wyndham credit card.

Rescind if you signed up and don't sign if you haven't. You will not get what you think they promised you.

[Bourne Member Find all posts View Profile Close Bourne]

For personal usgae(not rentals), the only time VIP status provides quantifiable benefit is if you take numerous short vacations every year. That way, the housekeeping credits/guest certs for family cease to be an issue from a cost standpoint. In addition, there is the benefit of reduced points.

Does it save money. Yes. How much depends upon your personal usage. Map out a ballpark usage pattern and see if the additional costs are higher than the cost of being a VIP. If yes, it makes sense, else it does not.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Great plan . . . . load up with as much timeshare as you can. It can't help but go up in value. People will be beating a path to your door when you wanna get rid of it.

[ace2000 Senior Member Find all posts View Profile Close ace2000]

Pssssst... over here... wanna buy a timeshare?

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

<Big Sigh> I thought so. Too good to be true is so often too good to be true. I can't believe the number of times I've told people, "NEVER buy at a sales meeting" just to fall for the same old pitch. (Cue Freddie Mercury: "You got egg on your face...big disgrace...We will, we will TAKE you!!")

Ok...time to rescind. Now to figure out how to do that. Thanks folks. I was hoping you'd tell me something I didn't already know, but alas, I think I did already know that this conversation should never have gotten past the "here's what we propose..." line.

[rikkis_playpen Diamond Club Contributor Find all posts View Profile Close rikkis_playpen]

I thought the change in VIP levels took place in October of last year.

You are correct.. Silver VIP now starts at 400,000 and Gold VIP at 700,000. If the owner purchased from the developer before Nov 1, 2012- they are grandfathered at the old levels.

I hope this isn't a new weasel sales tactic. I s/w another new buyer near the end of last year who thought he was a silver VIP but he had only purchased 154,000 points. When he looked at his status online it did show the Silver level- but that was due to a one time bonus of 154,000 points that was given to him at the time of purchase. He won't get that same status next year..

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

You can easily get a gold account on the resale market for about 25k. Purchasing 154k points from Wyndham would cost you about 180-220 p/k points making the cost appx. 27k at a minimum...Getting Gold status instead of Silver for 2k less than a direct purchase from Wyndham (keep in mind that with a Gold Status deed you are also getting a minimum of 500k points) makes much more sense.

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

Before I get inundated with "you can't get status on the resale market!" responses I must say, yes you can. It has been done and can be done. Just like any other rule or regulation there is always a loop-hole, you just have to be smarter than the person making the rules.

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

Before I get inundated with "you can't get status on the resale market!" responses I must say, yes you can. It has been done and can be done. Just like any other rule or regulation there is always a loop-hole, you just have to be smarter than the person making the rules.

Well yes you can but as we say around here "loose lips sink ships" so you may want to keep this secret to yourself.

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

The bonus points are good for two years, after that the status will be reduced to the next level down...in the case of silver, the next level down is no status...wah wah wah. I have, by the way, still, very recently see folks get "grandfathered in" at gold with only getting to 500k points purchased directly through the developer.

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

Well, I will make sure to keep that secret near and dear!