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Lessening the sting of purchase

meanjean

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We are new to the group and found the website while trying to decide if we should walk away from this whole thing. We are paid in full and all maintenance is up to date.
We purchased Waikiki Beach Walk points from Wyndham. We now realize that this was a big mistake based on how much we paid. We do vacation and use the points but we are not VIP or any other special (231,000 points). Would it make sense to buy more points on secondary market cheaply so that we can lessen the blow? and have more points to use for our travels? If we buy points in Orlando... are they the same points as the 231,000 that we already have? So... we have our original purchase price for those points and then add another 200,000 or so at a cheap maintenance fee resort? I am not sure if this makes sense... but we realize what a financially bad decision this was. Yikes! Thank you for any advice/guidance from the group. Sorry for so lengthy.
 

TUGBrian

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welcome to TUG, and congrats on doing your research while you still have options!

in any case, the fact you clearly dont quite know what you bought and are having doubts means you should rescind 100% of the time until you do have the answers to those questions.

at that time you can make a decision to buy the same retail package (trust me, they will still sell it to you)....or save a fortune and buy resale from an existing owner.
 

ronparise

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We are new to the group and found the website while trying to decide if we should walk away from this whole thing. We are paid in full and all maintenance is up to date.
We purchased Waikiki Beach Walk points from Wyndham. We now realize that this was a big mistake based on how much we paid. We do vacation and use the points but we are not VIP or any other special (231,000 points). Would it make sense to buy more points on secondary market cheaply so that we can lessen the blow? and have more points to use for our travels? If we buy points in Orlando... are they the same points as the 231,000 that we already have? So... we have our original purchase price for those points and then add another 200,000 or so at a cheap maintenance fee resort? I am not sure if this makes sense... but we realize what a financially bad decision this was. Yikes! Thank you for any advice/guidance from the group. Sorry for so lengthy.

If you like the wynham system and you want to use it more and you can afford the maintenance fees, than by all means buy more.

Points you buy on the secondary market will work with the points you bought from the developer. Advanced reservation priority is something you should understand as its the exception to what I just said

But understand if you double your points you will double your maintenance fees. Maintenance fees vary from resort to resort but for the most part they are all in a fairly narrow range

But to the title of your thread Lessening the sting of purchase Yes buying on the secondary market will lessen the sting of a developer purchase... When I was a stock broker we called it averaging down
Your cost is probably in the neighborhood of $200 per 1000 points If you bought 200000 points on the secondary market at $10 / 1000 your average cost just dropped by half. It doesnt mean you didnt spent too much the first time out, but a new purchase may lessen the sting

Just be sure this is something you want... because your annual fees will double and those fees are forever
 

MuranoJo

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Just to clarify, how long ago did you make your purchase? For some reason, I sense this may be a purchase you made some time ago (i.e., your point that you do vacation and use the points). If it's been a while, it may be well beyond time to rescind, so your options are making the best of what you have (Ron's reply has some good advice), or trying to sell or give away your points.
 

LannyPC

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For some reason, I sense this may be a purchase you made some time ago (i.e., your point that you do vacation and use the points).

...along with the fact that the OP stated " We are paid in full and all maintenance is up to date." Not many purchasers pay in full before the rescission period is up.

Maybe the OP can enlighten us.
 

TUGBrian

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ah indeed, I read it as if they had just recently bought and were debating on rescinding!
 

theo

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Alternatives...

OP mentioned "trying to decide if we should walk away from this whole thing".

If that is ultimately the chosen route, is Wyndham's "Ovation" program door still open and maybe an option for the OP to consider? If so, OP could bail out cleanly, lawfully and with little or no cost or effort, dealing only and directly with Wyndham and just taking the associated financial lumps and moving on --- unless OP is sufficiently enjoying the usage despite the now-sunk developer-direct purchase cost. I mention the Ovation option only because of the OP's "walk away" reference.

If not enjoying the usage or the associated annual cost, it might make more sense to bail out cleanly than to buy a bigger shovel just to dig a bigger hole, no? :shrug:
 
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chapjim

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If you like the wynham system and you want to use it more and you can afford the maintenance fees, than by all means buy more.

Points you buy on the secondary market will work with the points you bought from the developer. Advanced reservation priority is something you should understand as its the exception to what I just said

But understand if you double your points you will double your maintenance fees. Maintenance fees vary from resort to resort but for the most part they are all in a fairly narrow range

But to the title of your thread Lessening the sting of purchase Yes buying on the secondary market will lessen the sting of a developer purchase... When I was a stock broker we called it averaging down
Your cost is probably in the neighborhood of $200 per 1000 points If you bought 200000 points on the secondary market at $10 / 1000 your average cost just dropped by half. It doesnt mean you didnt spent too much the first time out, but a new purchase may lessen the sting

Just be sure this is something you want... because your annual fees will double and those fees are forever

"Averaging down" often turns out to be "chasing bad money with bad money."
 

ronparise

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"Averaging down" often turns out to be "chasing bad money with bad money."


The question here is... does the op need more points to satisfy their needs. If yes than buying them on the secondary market mekes sense, if not... dont buy at all with good, or bad money
 

VacationForever

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OP mentioned "trying to decide if we should walk away from this whole thing".

If that is ultimately the chosen route, is Wyndham's "Ovation" program door still open and maybe an option for the OP to consider? If so, OP could bail out cleanly, lawfully and with little or no cost or effort, dealing only and directly with Wyndham and just taking the associated financial lumps and moving on --- unless OP is sufficiently enjoying the usage despite the now-sunk developer-direct purchase cost. I mention the Ovation option only because of the OP's "walk away" reference.

If not enjoying the usage or the associated annual cost, it might make more sense to bail out cleanly than to buy a bigger shovel just to dig a bigger hole, no? :shrug:

Ovation is very much alive. They also just launched an additional option called Tribute where tranfers to family mrmbers are free.
 
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meanjean

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Purchasing more Wyndham Points

We are fairly new Wyndham owners and wish we had known about this group before we made our big mistake... but... too late now. We purchased the Wyndham Waikiki Beach Club. We do vacation and use our points but find that there are not enough to get what we need. Does it make sense to buy points from anywhere with low maintenance fees and use them in addition to our original points? Or just bail out now and not look back... we are very sorry for doing this and want to minimize the sting if possible. Not sure if I am saying this right... but we DEFINITELY paid too much money!!! W.C. Fields was right!
 

ronparise

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We are fairly new Wyndham owners and wish we had known about this group before we made our big mistake... but... too late now. We purchased the Wyndham Waikiki Beach Club. We do vacation and use our points but find that there are not enough to get what we need. Does it make sense to buy points from anywhere with low maintenance fees and use them in addition to our original points? Or just bail out now and not look back... we are very sorry for doing this and want to minimize the sting if possible. Not sure if I am saying this right... but we DEFINITELY paid too much money!!! W.C. Fields was right!

so you asked this same question in another thread Im not going to give you a different answer here.

Try andset the initial purchase price aside>> That money is gone never to be seen again> If you enjoy the use of what you have and if owning more would give you even more enjoyment, and if you can afford the ongoing mf..... buy more

On the other hand if you cant stop thinking about WC Fields, and every vacation is just a reminder of what a sucker you were. Get out.

Either way you need to know you are not alone,, and you are in good company here. Lots of us started with a developer purchase and proved WC Fields right
 
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