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Can't get out: how can I make the best of it?

Mrras

TUG Member
Joined
Dec 9, 2018
Messages
9
Reaction score
9
Points
53
Resorts Owned
Massanutten
Hello TUGers,

Newbie here. We purchased a timeshare at Massanutten/RCI for $9999. We are out of the window to opt out. How to make the best value out of this.
1. Monthly payment of $161 for 10years (total pay $19000), should I aim I pay in advance to minimize the cost? or aim to sell.
2. Any hidden tricks to get out aside from selling?
3. How to best use the scheduled week and the extra week; is it better to upgrade to other RCI resorts?

Thanks in advance.
 

geist1223

TUG Member
Joined
May 20, 2015
Messages
5,974
Reaction score
5,728
Points
499
Location
Salem Oregon
Resorts Owned
Worldmark 97,000 Credits
DRI Cabo Azul 50,500
Royal Solaris San Jose del Cabo
You will not able to sell until the loan is paid off. Then might sell for a huge loss or give away for free. So pay off as soon as possible. Then learn the system and how to use it for the most benefit to you.
 

Passepartout

TUG Review Crew: Veteran
TUG Member
Joined
Feb 10, 2007
Messages
28,461
Reaction score
17,213
Points
1,299
Location
Twin Falls, Eye-Duh-Hoe
Hello TUGers,

Newbie here. We purchased a timeshare at Massanutten/RCI for $9999. We are out of the window to opt out. How to make the best value out of this.
1. Monthly payment of $161 for 10years (total pay $19000), should I aim I pay in advance to minimize the cost? or aim to sell.
2. Any hidden tricks to get out aside from selling?
3. How to best use the scheduled week and the extra week; is it better to upgrade to other RCI resorts?

Thanks in advance.
Welcome to TUG. You are in good company. Half of us did exactly what you did. Stick around TUG. Learn to USE your system. You will find that the true value of TS is in it's use, and the memories you will take with you. If you have bonus weeks, use those before they expire. If you want to reduce your cost, rent your deeded week while you use the bonus weeks- they can't be rented. If you plan to exchange your weeks, consider joining TUG ($15 yr) to have access to reviews of thousands of resorts, but know that exchanging co$t$. Both RCI fees, and membership.

Again, Welcome!

Jim
 

bnoble

TUG Member
Joined
Nov 14, 2006
Messages
11,627
Reaction score
5,364
Points
798
Location
The People's Republic of Ann Arbor
First, I would accelerate the payments and try to get the loan onto something with a lower interest rate.

Second, welcome to TUG! As mentioned, you are not alone. Most of us eventually learned how to get great vacations out of our timeshare purchases, and while we may regret the amount we spent, we don't regret the purchase.
 

WinniWoman

TUG Review Crew: Veteran
TUG Member
Joined
Jul 16, 2010
Messages
10,762
Reaction score
7,057
Points
749
Location
The Weirs, New Hampshire
Resorts Owned
Innseason Pollard Brook
I think if you can just pay it off and save on the interest, you should. Taking out a loan for a timeshare is just a bad idea.

Once you learn to use what you own, it will pay for itself in a lifetime of vacations. We bought one of our timeshares from the developer and paid a lot more than you did for 2 weeks back in 1999, and because we paid cash and we have used every single week over a long period of time, the timeshare more than paid for itself- maintenance fees considered and all.
 
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