Just bought points but what should i do.

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

We had a total of 189,000 points through wyndham yearly. We bought these points cheap from a friend. We went to a presentation and ended up buying 127,000 more points to take us to VIP status and switched our home resort to Bonnet Creek. After doing much reading on here I am afraid that we may have made a mistake. Would it be better for me to just look around and find points at a resale site? How many could i get via resale for the 17K i just spent? We bought just bought these Thursday March 27. If i do cancel, how long do I have and what all do I need to do in order to cancel. As an aside what is the difference between my Wyndham points and RCI. One more question, we signed up for the Wyndahm credit card to help offset mainainance fees. Would i still be able to keep that and use it to do so. Sorry for so many questions, but I am new to this and I thought i was doing the right thing for me and my family because we travel quite a bit. thanks in advance for any response.

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

On the resale market, $17,000 would buy you between 850K and 1.7M points.

Yes, you read that right.

Your paperwork will tell you how long you have to cancel, and how to do it. Follow the instructions to the letter. Then, come back and research the differences between resale and developer purchases, so that you know the pros and cons of each. Then, and only then, should you even consider buying more points from anyone.

Many people will suggest that a retail purchase never makes sense given the resale price.

[Bill4728 Super Moderator Find all posts View Profile Close Bill4728]

On the resale market, $17,000 would buy you between 850K and 1.7M points.

Yes, you read that right.

Yes that is right!! It's hard to believe that for $17K you got 127,000 pts but if you had bought resale you'd get 10-15 times more.

Your paperwork will tell you how long you have to cancel, and how to do it. Follow the instructions to the letter. Then, come back and research the differences between resale and developer purchases, so that you know the pros and cons of each. Then, and only then, should you even consider buying more points from anyone.

Many people will suggest that a retail purchase never makes sense given the resale price.

Sometime the developer will threw in something which has great value but $17K is a lot of money and what you get for that money isn't worth $17,000.

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

IMHO, in your deal, if you think VIP three word worth 10K (not benefit, just the title), then you can try to do some detail calculation to see if the deal make sense or not. Some people can afford and willing to pay that much. Not sure Wyndham VIP means that or not.

I will follow the contract's instruction and rescind the contract.

Most of TS developer will return you back to the prior status as soon as they receive the letter. Some may question your steps if you did not follow the instruction. Few may ask you to return this and that depends on if you have any signed documents or papaer work say you should return these thing or pay extra (usually it is no). But eventually they will give you back what you give them.

Jya-Ning

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

Buy from Wyndham Retail = Bad Deal

Unless you feel being tagged as VIP (which surely has some derogatory meaning for "sucker" in the back rooms of Wyndham sales) and getting points worth 90%+ less than what you paid is a good deal then you should rescind and buy resale either for far less money or spend the same and get far more points.

Not a good deal in my view.

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

We had a total of 189,000 points through Wyndham yearly. We bought these points cheap from a friend. We went to a presentation and ended up buying 127,000 more points to take us to VIP status and switched our home resort to Bonnet Creek. After doing much reading on here I am afraid that we may have made a mistake. Would it be better for me to just look around and find points at a resale site? How many could i get via resale for the 17K i just spent? We bought just bought these Thursday March 27. If i do cancel, how long do I have and what all do I need to do in order to cancel. As an aside what is the difference between my Wyndham points and RCI. One more question, we signed up for the Wyndham credit card to help offset maintenance fees. Would i still be able to keep that and use it to do so. Sorry for so many questions, but I am new to this and I thought i was doing the right thing for me and my family because we travel quite a bit. thanks in advance for any response.

Welcome to TS4Ms

I hope you followed the advice here and rescinded your contract.
Wyndham is a GREAT program but it is even better when u buy resale.
Let us know how u made out.

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

I am a newbie to this site, but have learned a lot from reading and researching timeshares. I can tell you taht 127,000 points is not a good deal at $17K. I have learned that the hard way as well. I boutght 168,000 points on what seemed to be a good deal, until I found out they were ever even year. I did however get an additional 215,000 bonus points that were good for 3 years. I kind of got the short end of that stick. My problem now, is trying to sale mine. I am stuck with them pretty much, lol. Especially with the way the resale value is.

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

Welcome to TS4Ms!!!

Hi,
My name is Ken. My wife and I own timeshare with Wyndham at Bonnet Creek in Orlando. I am basically on here to get information. We have owned it for about two years now and are looking at sellig it. We simply don't use it enough. So here I am! Just wanting to look around and find out more on values, the process, how to, etc...

I am a newbie to this site, but have learned a lot from reading and researching timeshares. I can tell you taht 127,000 points is not a good deal at $17K. I have learned that the hard way as well. I boutght 168,000 points on what seemed to be a good deal, until I found out they were ever even year. I did however get an additional 215,000 bonus points that were good for 3 years. I kind of got the short end of that stick. My problem now, is trying to sale mine. I am stuck with them pretty much, lol. Especially with the way the resale value is.

Not sure why this thread has been resurrected but the values depicted above are even less in today crash market. Not sure why you can't use 168K every other year, 84K per year doesn't go very far. If you stick around here long enough, you'll probably learn how to use them and want more, certainly don't sell right now.