Just bought from Wyndham, need to cancel, need info about resale points..

Hello. My boyfriend and I went to one of the timeshare presentations at wynhdam while we were on vacation. We bought the 254,000/bienally for $16,000. At the time I thought it was a great deal. I could travel to many, many, many places within the Wynhdam system and also could exchange points and go the many RCI places. But I came home and the first thing I did was research. While doing my research I found that I got SCREWED, lol. I found that I could buy these points MUCH cheaper, on ebay for instance.

So, I want to cancel (I am within the 7 day period so I'm going to call them today). But I have questions about how the resale points work. I know I can use them at whatever resort I buy the points at. But can I also travel to these many other places? Can I use the points to go to the RCI places?

Also, It seems that alot of money could be made by buying points, and renting out weeks, is this the case?

Thanks so much for anyone who can help me with these questions.

amanda1266 said:

So, I want to cancel (I am within the 7 day period so I'm going to call them today).

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Oops!

Be sure to follow the cancellation procedures exactly as detailed in the paperwork you were given. It's almost a certainty that those procedures require you to cancel in writing. The laws of many states require that you either personally deliver the cancellation notice or send it via certified mail with a return receipt requested. Here at TUG, we generally recommend the certified mail approach so that you have proof that you canceled within the allowable period.

Definitely cancel as suggested in the previous post. If you call, they will try to get you to keep what you have. Make sure you follow the directions in your information to the letter.
The next step is to read up on the info in the Wyndham forum in addition to the Wyndham Primer at www.wyndhamowners.org. This will give you an incredible amount of info.
In my opinion, "alot of money" cannot easily be made by renting out weeks with the Wyndham system. There are some experienced renters out who do make some income doing this, but many of them have VIP status (expensive large purchases direct from Wyndham) and make use of VIP points discounts for their rentals. There are probably others who do rentals to cover the maintenance fees and maybe a little on the side, but since the price you can get for rentals can be quite low and there are a lot of rentals for not much more than maintenance fees (see redweek.com), it would require a good bit of knowledge, time, and a customer base to do much with this. I'm not sure where you got your information about this, but if it came from a salesperson, you can be sure that he/she will stretch the truth or lie to get you to buy.

Congratulations on wising up BEFORE you lost 90% of the purchase price

amanda1266 said:

Hello. My boyfriend and I went to one of the timeshare presentations at wynhdam while we were on vacation. We bought the 254,000/bienally for $16,000. At the time I thought it was a great deal. I could travel to many, many, many places within the Wynhdam system and also could exchange points and go the many RCI places. But I came home and the first thing I did was research. While doing my research I found that I got SCREWED, lol. I found that I could buy these points MUCH cheaper, on ebay for instance.

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First, as Dave said, follow the rules EXACTLY as in your paperwork (it will have to be on paper & correctly mailed by the due date). DON"T WAIT!

amanda1266 said:

So, I want to cancel (I am within the 7 day period so I'm going to call them today). But I have questions about how the resale points work. I know I can use them at whatever resort I buy the points at. But can I also travel to these many other places? Can I use the points to go to the RCI places?

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Once you have wisely rescinded you can safely shop for resale Wyndham FSP Points at your leisure. There are plenty out there for under 90% of the cost you almost paid. Once you own them they work EXACTLY as retail points would. Same resorts, same RCI membership, same trade value, same fees (based on the home resort of course) but you saved thousands of $.

The only thing you give up (and you weren't getting it anyway at the 256,000 point level) is the nearly worthless VIP designation. Wyndham sales push that as it's the only thing they can say is different about reslae points but there is no way it's worth tens of thousands of dollars. Ignore VIP and concentrate on getting the amount of resale points you think you'll use, learn the FSP system and enjoy. We have for over 10 years and the system just keeps getting better.

amanda1266 said:

Also, It seems that alot of money could be made by buying points, and renting out weeks, is this the case?

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Not as easy as it sounds as finding the renters can be tough and rental points are also readily available from many sources. With enough effort you can do it but it isn't easy money.

Thanks for the replies.. I feel much better about my decision to cancel. I have one further question. I would like to take one or two really good vacations a year and maybe a couple small weekend trips a year. Would it benefit me to own/use these points or would I be better off to just book hotel reservations like i've been doing? I'm a little confused about what would be cheaper/better

Purchasing resale...

I purchased my points from Tom Corneilius (a resale broker and the easiest purchase of all - he post some of his listings here on TUG), GMAC Timeshare resale, and www.holidaygroup.com I never felt comfortable with ebay, but lots of people have found good deals there.

Amanda -

Your most recent question is almost impossible for us to answer without knowing more.

Consider timeshares versus hotel rooms if you enjoy the luxury of the extra space that a timeshare will provide.

Buy a resale points or deeded timeshare versus renting for the security of knowing where you can vacation each year at a reasonable annual cost. Buying is a particularly good idea if your trips will be during peak vacation seasons when rentals might be sky-high.

If your travels will usually be during off seasons or shoulder seasons, you can usually rent timeshares (here, Redweek, ebay and numerous other sites) for less than or approximately what the annual maintenance fees would be, without having to fork over the cost to purchase one.

Stick with hotel rooms if you're comfortable with the limited space and lack of cooking facilities in hotel rooms, unless your research for the areas you want to visit show that timeshare ownership or rentals would be cheaper.

My advice:

* rescind (which you've already decided to do.)
* read up on how Wyndham works (and perhaps another system or two)
* rent a timeshare accomodation with at least one private bedroom and a full kitchen from someone---"try it on for size."

The third suggestion will give you a real sense for whether you might prefer a hotel-style vacation, or a timeshare-style vacation. In a hotel, you do not generally have separate bedrooms/living rooms, full kitchens, in-unit laundries, or large decks/patios/balconies. In a timeshare, you do not generally have daily maid service, full concierge services, or full-service restaurants within easy walking distance.

The water is further muddied by some of the extended-stay style properties (Residence Inn, etc.) that combine some of the better features of both. We came to timeshare by first renting such rooms, and finding we really enjoy the extra space and amenities.

I don't disagree with what was said but VIP does have it's benefits.
We have owned since February 07 and I would say at least 6 times have been able to take advantage of discounted points for VIP booked within 60 days and at least 4 times have taken advantage of free upgrades.

we are temporary VIP gold and permanent regular VIP.
It's really nice to book a 1 bedroom at 35% off points and then get a free upgrade to the 2 bedroom.

Not many do the real math. How much is 35% actually worth in $$ vs $10,000 cost?

NJCOBRA10tha said:

I don't disagree with what was said but VIP does have it's benefits.
We have owned since February 07 and I would say at least 6 times have been able to take advantage of discounted points for VIP booked within 60 days and at least 4 times have taken advantage of free upgrades.

we are temporary VIP gold and permanent regular VIP.
It's really nice to book a 1 bedroom at 35% off points and then get a free upgrade to the 2 bedroom.

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Nice? Yes. Worth $10,000+ over resale cost? No. $10,000 covers an awful lot of points and a few paid upgrades if needed. I'm afraid that if you do the math on the value of the discounts and upgrades vs the cost difference retail to resale you will find it may be decades - if ever - before you will break even. And you paid for it upfront (value of money is also against you) with zero guarantee that the benefits will stay as they are. We all know they have already been significantly devalued over the past few years. It simply doesn't make financial sense if you look at the numbers. But it is nice.

Valid points but I just don't think the VIP Benefits are virtually worthless as stated in previous posts.

Besides the VIP benefits, the way we purchased we received about 1.2 Million bonus points. Maybe that means I purchased in a very silly way, but those 1.3 Million bonus points have real value to us of at least $6,500 (figured as renting those points in the express window @ $5/1,000) Even with that and VIP Discounts and upgrades we still paid substantially more than if we bought a resale on Ebay, but I don't feel we had a massive ripoff like most posts would make you think?

I also received my points within 1 week every time so we would have had opportunities lost that we would have had to pay cash for.

We received so many bonus points because of the way we bought.
Original purchase 85K/year received something like 220K bonus points
purchased Discovery package 310K points
converted discovery to 85K/year received 220K bonus points after 3 months
purchased Discovery package 310K points
converted discovery to 140K/year on tier 3 from Wyndham received 140K bonus

So that's 1,160,000 extra points over and above our annual allotment.

I do recommend that anyone thinking of buying direct from Wyndham first buy a Discovery package and then convert it. For a few hundred dollars spent you will get an extra 310,000 points.

I didn't realize that buying resale wouldn't affect your status to VIP and was thinking at some point I would buy another 190K annual to get to VIP Gold.


I have no complaints about what I purchased but do see the cheap resales on Ebay.

timeos2 said:

Nice? Yes. Worth $10,000+ over resale cost? No. $10,000 covers an awful lot of points and a few paid upgrades if needed. I'm afraid that if you do the math on the value of the discounts and upgrades vs the cost difference retail to resale you will find it may be decades - if ever - before you will break even. And you paid for it upfront (value of money is also against you) with zero guarantee that the benefits will stay as they are. We all know they have already been significantly devalued over the past few years. It simply doesn't make financial sense if you look at the numbers. But it is nice.

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VIP

It only possible if you buy from Wyndham at their overly inflated prices. For what you'll over pay, you can buy more vacations in the long run and still be ahead of the game.

Also, whatever the perks of VIP are today, they could change later, making it a risky deal over time.

As much as I once *thought* I wanted VIP, I'm glad we didn't go that route.

My personal advice is NO - do not worry about VIP and proceed as you've already discussed via resale.

NJCOBRA10tha said:

Valid points but I just don't think the VIP Benefits are virtually worthless as stated in previous posts.

Besides the VIP benefits, the way we purchased we received about 1.2 Million bonus points. Maybe that means I purchased in a very silly way, but those 1.3 Million bonus points have real value to us of at least $6,500 (figured as renting those points in the express window @ $5/1,000) Even with that and VIP Discounts and upgrades we still paid substantially more than if we bought a resale on Ebay, but I don't feel we had a massive ripoff like most posts would make you think?

I also received my points within 1 week every time so we would have had opportunities lost that we would have had to pay cash for.

We received so many bonus points because of the way we bought.
Original purchase 85K/year received something like 220K bonus points
purchased Discovery package 310K points
converted discovery to 85K/year received 220K bonus points after 3 months
purchased Discovery package 310K points
converted discovery to 140K/year on tier 3 from Wyndham received 140K bonus

So that's 1,160,000 extra points over and above our annual allotment.

I do recommend that anyone thinking of buying direct from Wyndham first buy a Discovery package and then convert it. For a few hundred dollars spent you will get an extra 310,000 points.

I didn't realize that buying resale wouldn't affect your status to VIP and was thinking at some point I would buy another 190K annual to get to VIP Gold.


I have no complaints about what I purchased but do see the cheap resales on Ebay.

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Sounds like a sales pitch to me. If you don't work for Wyndham, you should consider it. :rofl:

rickandcindy23 said:

Sounds like a sales pitch to me. If you don't work for Wyndham, you should consider it. :rofl:

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Yeah. Anyone who can make a case that $6100 in (potential) benefits is a deal when you pay (with the number of points they are discussing) over $30,000= to get it has been through the brain washing process.

silly question

I am a relative newbie myself (but luckily I bought my FF points on Ebay)...and please excuse me because my question is probably dumb:

Are all these bonus points that Wyndham gives (to entice people to buy retail) like a freebie that they can use whenever, or are there maintenance fees (or other fees) that must be paid on them?

massvacationer said:

I am a relative newbie myself (but luckily I bought my FF points on Ebay)...and please excuse me because my question is probably dumb:

Are all these bonus points that Wyndham gives (to entice people to buy retail) like a freebie that they can use whenever, or are there maintenance fees (or other fees) that must be paid on them?

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Excellent question. The answer is NO you don't have to pay MFs on the bonus points they give you.

No I don't work for Wyndham and No I wasn't brainwashed.

I am in no way shape or form saying I got a good deal compared to a resale just stating that the deal I got is not as bad as it first appears when you factor in VIP discounts,bonus points, free guest confirmations (for now -temp gold), no housekeeping fees.... Sure I paid alot more than a resale on ebay no argument here, but I did get to enjoy a ton of trips immediately.

I did learn from this site and would strongly consider an ebay resale for future purchases but am definitely glad I am VIP.

I believe we have booked over 93 days of vacation since our initial purchase 2/2007. We gave a lot away to friends but have been going on a lot of trips too.

timeos2 said:

Yeah. Anyone who can make a case that $6100 in (potential) benefits is a deal when you pay (with the number of points they are discussing) over $30,000= to get it has been through the brain washing process.

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NJCOBRA10tha said:

Valid points but I just don't think the VIP Benefits are virtually worthless as stated in previous posts.

Besides the VIP benefits, the way we purchased we received about 1.2 Million bonus points. Maybe that means I purchased in a very silly way, but those 1.3 Million bonus points have real value to us of at least $6,500 (figured as renting those points in the express window @ $5/1,000) Even with that and VIP Discounts and upgrades we still paid substantially more than if we bought a resale on Ebay, but I don't feel we had a massive ripoff like most posts would make you think?

I also received my points within 1 week every time so we would have had opportunities lost that we would have had to pay cash for.

We received so many bonus points because of the way we bought.
Original purchase 85K/year received something like 220K bonus points
purchased Discovery package 310K points
converted discovery to 85K/year received 220K bonus points after 3 months
purchased Discovery package 310K points
converted discovery to 140K/year on tier 3 from Wyndham received 140K bonus

So that's 1,160,000 extra points over and above our annual allotment.

I do recommend that anyone thinking of buying direct from Wyndham first buy a Discovery package and then convert it. For a few hundred dollars spent you will get an extra 310,000 points.

I didn't realize that buying resale wouldn't affect your status to VIP and was thinking at some point I would buy another 190K annual to get to VIP Gold.


I have no complaints about what I purchased but do see the cheap resales on Ebay.

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You paid for the Discovery packages of points. They don't just GIVE you points, I don't believe. If they gave you a lot of points, I am surprised because we weren't offered any bonus points for free. I think you are saying you bought 3 points packages. Is that true?

By the way, I agree that VIP benefits can be worth every penny.

I think she is saying this.

When you purchase a Discovery Package for 300,000 pts,
-your price is set at what was negotiated,
-you don't pay MFs on the 300,00 pts
-Wyndam deducts the cost of your discovery package from the set price negotiated at the first meeting.

Lots of my friends got into TSing this way. Also, lets not beat people up on what they decided was best for them. Hey, most of us here got caught up and purchased from the developer, but lets not hit ourselves over the head or others for past choices, lets learn from them.

I "upgraded" my formerly purchased weeks to get VIP, did it cost a lot? yeah, do I regret it...Not really...although truthfully if it was a do over ..... I would not have "upgraded", but I did and I am happy with what I have.

lprstn said:

I think she is saying this.

When you purchase a Discovery Package for 300,000 pts,
-your price is set at what was negotiated,
-you don't pay MFs on the 300,00 pts
-Wyndam deducts the cost of your discovery package from the set price negotiated at the first meeting.

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Every Discovery Package I've ever been offered did require that I pay the MF's on the points.

To my way of thinking, the Discovery gig is just a way for them to rent out their unbought points and to collect MF's on them. Too often, I hear of people who never even use them.

Discovery Package = another way for Wyndham to rip you off! Thankfully, the pain only lasts a year

I want to be a VIP. How many tens of thousands do you want?

Timeshare Von said:

Discovery Package = another way for Wyndham to rip you off! Thankfully, the pain only lasts a year

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Yes but at least during that time you are suffering with Very Impressive Pain.