Equity Credit

[DJ0105]

Has anyone experienced getting "Equity Credit" for their timeshare when buying another timeshare?

 

[raygo123]

You must go to Mexico to get "such a deal" you cannot turn down! They will start a rack price, give you the credit for your timeshare, and still charge you more than what their timeshare is worth. I hen, you have to deal with an agent that's going to sell your old timeshare, and have an opportunity to buy it back

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[DJ0105]

Actually in Dominican Republic. But main properties in Mexico.

Wondering if anyone else has been taken by "Equity Credit" given for a timeshare you already own to buy a new timeshare.

 

[theo]

Actually in Dominican Republic. But main properties in Mexico.

Wondering if anyone else has been taken by "Equity Credit" given for a timeshare you already own to buy a new timeshare.

Maybe not many here on TUG, but certainly plenty of people not found in these TUG forums have fallen for this nonsense (and will continue to do so).

They are essentially giving you nothing. They merely apply a phony, inflated "value" for the "trade in" toward another grossly inflated purchase figure. It's all just a smoke and mirrors marketing game; no more, no less. You could actually buy the second product for the same (or less) money even if you enter the game with nothing to "equity trade in" at all. It's just another ploy / tactic exercised in the eternal quest for more gringo dollars.

Worse, sometimes these parasites fail to ever take your name off the original product after "trade in", leaving you on the hook for both "products".
Sometimes they will even try to "ransom" the (allegedly) "traded in" product back to you (for even more out of pocket gringo dollars, of course).
Sound good to you so far? I didn't think so. If it's not already too late, run (do not just walk) fast and far away from this (...ahem) "opportunity".

 

[TUGBrian]

yes, in every case we have ever seen...this is an absolutely terrible choice for the owner.

 

[raygo123]

Actually in Dominican Republic. But main properties in Mexico.

Wondering if anyone else has been taken by "Equity Credit" given for a timeshare you already own to buy a new timeshare.

Yes me! I bought one BDRM from Vida, for $12,000 plus my Wyndham resort. Then when the selling agent called he wanted to sell my Wyndham resort back for $5,000.
I settled for $400, and no paperwork or transfer occurred. Some on here say I should have just ignored the selling agent and kept my Wyndham resort. I didn't want any future problems so I paid the. Money.

It worked out well, I used it to PIC Wyndham and saved about $30,000 to get gold. And, no yearly MFs unless I use it. I wish I bought a two BDRM. (Buy one get one free, I would be platinum and saved $60,000 or more.

Long story short its a scam that worked for me.

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[icydog]

Yes me! I bought one BDRM from Vida, for $12,000 plus my Wyndham resort. Then when the selling agent called he wanted to sell my Wyndham resort back for $5,000.
I settled for $400, and no paperwork or transfer occurred. Some on here say I should have just ignored the selling agent and kept my Wyndham resort. I didn't want any future problems so I paid the. Money.

It worked out well, I used it to PIC Wyndham and saved about $30,000 to get gold. And, no yearly MFs unless I use it. I wish I bought a two BDRM. (Buy one get one free, I would be platinum and saved $60,000 or more.

Long story short its a scam that worked for me.

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Huh? Can you please explain for us non Wyndham owners? How did this turn out so well for you? What was your bottom line cash outlay for these two timeshares? Thanks

 

[raygo123]

Huh? Can you please explain for us non Wyndham owners? How did this turn out so well for you? What was your bottom line cash outlay for these two timeshares? Thanks

Total outlay was $12,000. Vida is a buy one get one free, and a 3rd for 10 years.

I don't have MFs unless I use the Vida resort. You get 105,000 point credit from Wyndham through the PIC program. So I only had to buy 490,000 points to become gold. If I had to buy an additional 210,000 points, it would have cost me over$30,000.

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[icydog]

Total outlay was $12,000. Vida is a buy one get one free, and a 3rd for 10 years.

I don't have MFs unless I use the Vida resort. You get 105,000 point credit from Wyndham through the PIC program. So I only had to buy 490,000 points to become gold. If I had to buy an additional 210,000 points, it would have cost me over$30,000.

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I don't want to sound dense but what are you saying? You had to buy 490,000 Wyndham points from Wyndham to become gold? What did that cost? And what does the 210K points have to do with this sale?

 

[raygo123]

I don't want to sound dense but what are you saying? You had to buy 490,000 Wyndham points from Wyndham to become gold? What did that cost? And what does the 210K points have to do with this sale?

490000+210000=700,000 which is what one needs to be gold.

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[vacationhopeful]

He is talking about the Wyndham PIC program ... a nonWyndham resort week used to become a higher VIP level .. you can each year OPT for the Wyndham points verses using your NON-Wyndham week or do whatever YOU want with the nonWyndham RCI week .. like deposit into RCI.

BUT if you dump this PIC week or NOT pay its MFs or sell it, your Wyndham option to PIC is cancelled and you LOSE the VIP status you obtained in the Wyndham system.