Wyndham/Oceanside -- should we rescind?

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

We purchased Wyndham at Oceanside two days ago. I told the salesman I was going to do some heavy-duty internet research to make sure I wasn't making a mistake. I found this forum today and figured there would be people who could give me the straight story.

We purchased 105,000 points for $16,000. We get 195,000 bonus points as of Aug 1, 2008. Maintenance fees are about $33 p/month. We made an 1,800 downpayment via credit card. We have 7 days to back out. Should we?

Buying resell makes me kind of nervous, but I did see several interesting ones on Ebay today, including Sevierville, TN, currently at about $700 w/210,000 points.

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Save yourself a lifetime of ever increasing fees by pulling out while you have time ! There are other ways to vacation.

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

Rescind Rescind Rescind Rescind

You have no reason to be nervous buying resale, and as you already saw, ff/wh points sell for less than a penny each, so if you want to keep your purchase, it is now worth about $1000. Now I can think of lots of things to spend that extra $15K on, like years of great vacations.

Oh and in case my title wasn't clear enough RESCIND NOW, ASAP, PRONTO, ANDELE,

fwiw, Greg

[lawren2 Malibu Beach Barbie & A Super Moderator Find all posts View Profile Close lawren2]

to TS4Ms

Yes rescind NOW. Follow the contract for exact ways to rescind and make sure to send your recission return receipt. Do your research and ask your questions. We have several people with expertise to help guide you to what works best for your needs.

6 months from now that developer deal will still be on the table if you still want it.

L

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

We purchased Wyndham at Oceanside two days ago. I told the salesman I was going to do some heavy-duty internet research to make sure I wasn't making a mistake. I found this forum today and figured there would be people who could give me the straight story.

We purchased 105,000 points for $16,000. We get 195,000 bonus points as of Aug 1, 2008. Maintenance fees are about $33 p/month. We made an 1,800 downpayment via credit card. We have 7 days to back out. Should we?

Buying resell makes me kind of nervous, but I did see several interesting ones on Ebay today, including Sevierville, TN, currently at about $700 w/210,000 points.

Save yourself a lifetime of ever increasing fees by pulling out while you have time ! There are other ways to vacation.

Don't pay attention to Bing, his advice is worthless. The short answer to should we rescind? is YES. Not for his reasons, but because you can buy essentially the same thing on the internet, used, for $1000 all-in.

[1950bing Senior Member Find all posts View Profile Close 1950bing]

Worthless ? I think not.
I am here for the consumer. I am not a memeber of the good ole boy club.
My input is based on actual timeshare ownwership and I have been invited to post my viewpoint here. Sorry you don't understand.

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

$.15 or $.02? Which seems like a better deal?

We purchased Wyndham at Oceanside two days ago. I told the salesman I was going to do some heavy-duty internet research to make sure I wasn't making a mistake. I found this forum today and figured there would be people who could give me the straight story.

We purchased 105,000 points for $16,000. We get 195,000 bonus points as of Aug 1, 2008. Maintenance fees are about $33 p/month. We made an 1,800 downpayment via credit card. We have 7 days to back out. Should we?

Buying resell makes me kind of nervous, but I did see several interesting ones on Ebay today, including Sevierville, TN, currently at about $700 w/210,000 points.

Rescind. Then buy resale the EXACT SAME points at $.02 or less per point. Don't let the sales weasels poison your common sense that resale is just a better deal. If you wait you'll own points that you just paid $.152 each that will, on day 8, sell for $.02 each. You make the call.

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

Last call reservations?

Wow. That was quick. And a unanimous response. Thanks for the info. I also wanted to add that my wife was most impressed by the "Last Call" (or maybe it's known by another name) reservation system in which you can get 5-star rooms for as little ast $28/night or $200/week within 60 days of your preferred dates.

Both Shell and Wyndam presented a version of this program. I'm just wondering if this comes standard with any resell and/or if anyone has any experience using it.

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

Wow. That was quick. And a unanimous response. Thanks for the info. I also wanted to add that my wife was most impressed by the "Last Call" (or maybe it's known by another name) reservation system in which you can get 5-star rooms for as little ast $28/night or $200/week within 60 days of your preferred dates.

Both Shell and Wyndam presented a version of this program. I'm just wondering if this comes standard with any resell and/or if anyone has any experience using it.

There are many last call type programs out there, be it with the developer's system or the larger exchange organizations. Can you travel off season or get great airfare deals like an airline employee for last minute prime cancellations/deposits? If so, these programs are for you. PM or email Bing, I'm sure he can tell you all about them.

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

I also wanted to add that my wife was most impressed by the "Last Call" (or maybe it's known by another name) reservation system in which you can get 5-star rooms for as little ast $28/night or $200/week within 60 days of your preferred dates.

Both Shell and Wyndam presented a version of this program. I'm just wondering if this comes standard with any resell and/or if anyone has any experience using it.

1. resell you will get Last call
2. the only two stuff you will not get is to use Wyndham's point to reserve RCI's resort in a few night. However, RCI does allow you to rent a few night. The 2nd is your resell point will not count toward any VIP. 105K does not give you VIP anyway. In fact, it will not get you to HI 1 week using FF internal exchange system. So you are paying developer for 2 year worth of VIP. Personally, I don't think VIP worth that much.
3. I think you should also look at what bing says, and think what kind of risk you are taking when purchase from developer. The TS resell price as you find out from eBay are not even close to what you pay. So if you start with a few resell points, get yourselve understand the product and if you like it, and want to go VIP, you can buy retail, otherwise, great, you can sell it with much less loss.

Jya-Ning

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

Last Call is RCI's last-minute travel program, and anyone who is a member of RCI can use it. (RCI is a big exchange company.) If you can travel off-season, you can get some nice deals through Last Call. There's almost nothing there during June, July, and August, and nothing for holiday weeks, but the rest of the year you'll see some good resorts.

To join RCI, you pay a membership fee. Technically you need to own a timeshare, but it can be any timeshare obtained in any way. (And if you SAY you own a timeshare...well, they don't demand proof, as far as I know.)

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Wow. That was quick. And a unanimous response. Thanks for the info. I also wanted to add that my wife was most impressed by the "Last Call" (or maybe it's known by another name) reservation system in which you can get 5-star rooms for as little ast $28/night or $200/week within 60 days of your preferred dates.

Both Shell and Wyndam presented a version of this program. I'm just wondering if this comes standard with any resell and/or if anyone has any experience using it.

Make sure you rescind in time and follow the instructions 100%. Most likely you will have to do it by USPS. I would send it by certified mail with a return receipt so you know that the resort received it.

We used to use RCI "Last Call" for the Puerto Vallarta area but lately haven't found any resorts where we used to like to go. All what is left now are resorts with mandatory A-I fees or there are resorts in areas where there are plenty exchanges too. It is a big disappointment. JMHO.

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

why are they selling?

Now, the obvious question -- why are all these people selling for such low prices? How can they even afford to pay 15k and then sell for 1500? Have these sellers generally paid off the timeshares already?

I'm asking this on behalf of my wife because she's in a state of disbellief that the retail markup could be so high. I'm sort of wondering the same thing. Our Wyndham salesperson started off by telling us we'd be getting a discounted rate because we were being asked to purchase that day.

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

There are many reasons people sell. The problem is all of the buyers are in the retail market (from developer) and all of the sellers are in the resale market. The mark up on times shares is higher than most (all) other products. They generally are sold for twice what there are worth. The low resale price is not only caused by the excess mark up, but by the lack of an efficient market for resales. Buying resale assures you that you can get your money back (or make a profit) when it is your time to sell .

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

Now, the obvious question -- why are all these people selling for such low prices? How can they even afford to pay 15k and then sell for 1500? Have these sellers generally paid off the timeshares already?

I'm asking this on behalf of my wife because she's in a state of disbellief that the retail markup could be so high. I'm sort of wondering the same thing. Our Wyndham salesperson started off by telling us we'd be getting a discounted rate because we were being asked to purchase that day.

Most often these owners are people who no longer use their timeshares and want out from the annual maintenance. Yes, they are most often paid off, but you can verify that through due diligence prior to completing the purchase. There are many closing companies that handle the transfer for the parties.

Unfortunately, no Wyndham salesman can offer you the same discount that you will find in the resale market. While Wyndham/Fairfield is the largest timeshare company, their product has one of the highest rates of depreciation in the timeshare industry. You can regularly purchase Wyndham points for less than 10% of the developer price.

Many people are happy with the Wyndham timeshare product. I do not own any Wyndham points, but if you are interested in pursuing resales, you should learn as much as you can about the system first. There are a few benefits not available to resale purchasers, such as their VIP benefits, but most people will tell you that they are not worth purchasing points from the developer.

There is a Yahoo group for Fairfield (Wyndham) owners that I now understand is being closed to new members, and they are trying to move people to a new bulletin board. Hopefully, someone will add a post with those links.