I'm Ill - Need Help!

I feel horrible. I bought a TS a year ago - no way to rescind. I bought it in Cancun where TS are a dime a dozen. I am paying for it with a note from a bank - stupid, stupid, stupid. They gave me a bunch of extra weeks w/o MF but I am afraid there's a devil in that detail as well. How do I make lemonade out of this? Do I have any chance at all that someone will want to exchange, especially since there are so many units available in Cancun? Selling it? Fat chance. Renting it out? Maybe.............. Can anyone give me some words of encouragement or sound advise, please!!!!

dusty

Unfortunately, you have an accurate view of the situation you are in. About your only option is to deposit with an exchange company, and trade it for other resorts, as long as you have modest expectations.

There is more supply than demand in Mexico, so it doesn't have much rental potential, and you owe more on it than it's worth. To tell you the truth, it probably has no resale value at all.

Do you belong to an exchange co. like RCI, or II? You don't have to be the one finding someone to exchange with. True, Mexican TS don't have great trade power, but they have some. There are independent exchanges. Look in the 'Exchanging' forum. They don't have the depth of choices that the big ones do, but of they have what you like they are cheaper.

Sorry you got sucked into buying before you found TUG, but many members here did, too. You're in good company. You obviously saw some value in the ownership. That hasn't changed. Learn to use what you bought by hanging out here.

The bad news is that what you bought cost you far more than it is worth. So you have nothing to lose by using it.

Welcome to TUG.

Jim

dtyukody said:

Selling it? Fat chance. Renting it out? Can anyone give me some...sound advise, please!!!!

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Some other advice for people in your situation is to watch out for the scammers. Owners of TSs in Mexico are prime targets for these resale/rental scams.

If you haven't already, you'll probably be receiving unsolicited phone calls claiming they can sell or rent your TS for mega-bucks. They just require an upfront fee and then do nothing for you. That's where the scam is.

As others have told you, your TS is probably worth about zero dollars. No one is drooling at the prospect of paying you tens of thousands of dollars for this product.

dtyukody said:

How do I make lemonade out of this? Do I have any chance at all that someone will want to exchange, especially since there are so many units available in Cancun?

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If you reserve a high demand week, you'll be able to exchange it for something else. Find out if your resort is affiliated with RCI or II and then join whichever one it belongs to. You'll have to pay to join and pay to exchange, but you'll have a whole world of selection for yourself at that point.

Your bonus weeks that don't have MFs will probably have a reservation fee when you use them. You may end up never using them.

You won't be able to sell until it is paid off. And, depending on what you own, the sales price may end up being zero.