I met a guy and he said that he just bought 4,000,000 points

[bendadin]

I am at GSL (which is admittedly NOT my favorite sales location.)

While waiting for the pool to open, a man asked if I was an owner and if it was worth it. Just then an older gentleman says that he and wife just bought that day. He had just retired and was from New York so he knew how to negotiate and kept telling them that he needed a better offer.

So, at first he said that they offered him 126k for $17,000 rolling his Discovery ($3k) into it. He declined. He kept telling them to make a better offer. So, he then tells me that he bought 4 million points for $3600 and his maintenance fees are only $60/month.

I can't tell you how many times I told him to read his contract. He said that he did and he was very excited for his purchase. The funny thing is that I was offered 1 million PR for $167k. I declined as well.

 

[CPNY]

I am at GSL (which is admittedly NOT my favorite sales location.)

While waiting for the pool to open, a man asked if I was an owner and if it was worth it. Just then an older gentleman says that he and wife just bought that day. He had just retired and was from New York so he knew how to negotiate and kept telling them that he needed a better offer.

So, at first he said that they offered him 126k for $17,000 rolling his Discovery ($3k) into it. He declined. He kept telling them to make a better offer. So, he then tells me that he bought 4 million points for $3600 and his maintenance fees are only $60/month.

I can't tell you how many times I told him to read his contract. He said that he did and he was very excited for his purchase. The funny thing is that I was offered 1 million PR for $167k. I declined as well.

I’d love to see his contract. The 3600 was probably just closing costs lol.the scary part of your post is “older gentlemen” these slime balls take advantage of the elderly. I’d find him and ask to see his contract. Tell him you’re a lawyer and you want the same deal. Offer to go over his contract so you know what to negotiate yourself. UNLESS he’s just busting your chops and didn’t sign anything lol

 

[DaveNV]

I think he's quite mistaken about something. I hope you got his name and number so you can stay in touch with him. Or maybe you won't need it, because when he gets his bill you'll be able to hear him screaming - all the way from New York!

Dave

 

[RX8]

He will be on TUG in 60 days asking how he can get out of his purchase because he was lied to by the salesperson.

 

[CPNY]

I think he's quite mistaken about something. I hope you got his name and number so you can stay in touch with him. Or maybe you won't need it, because when he gets his bill you'll be able to hear him screaming - all the way from New York!

Dave

The fact that he’s from NY tells me he was just busting chops and didn’t buy anything. Sounds like a jokester

 

[HitchHiker71]

I am at GSL (which is admittedly NOT my favorite sales location.)

While waiting for the pool to open, a man asked if I was an owner and if it was worth it. Just then an older gentleman says that he and wife just bought that day. He had just retired and was from New York so he knew how to negotiate and kept telling them that he needed a better offer.

So, at first he said that they offered him 126k for $17,000 rolling his Discovery ($3k) into it. He declined. He kept telling them to make a better offer. So, he then tells me that he bought 4 million points for $3600 and his maintenance fees are only $60/month.

I can't tell you how many times I told him to read his contract. He said that he did and he was very excited for his purchase. The funny thing is that I was offered 1 million PR for $167k. I declined as well.

To build on what CPNY said, this sounds like the same hubris and fake math that the NY based banks and investment houses used that caused the Great Recession in the first place. It also sparks of Elder Abuse if it actually happened.

 

[RX8]

CPNY might be right. A few months back I was in a hot tub with a number of people at HGVC Seaworld. Some guy was telling all those that would listen that he attended a HGVC sales presentation. He complained that the roughly $1400 HGVC maintenance fees were too high. He claimed to own 400 DVC points and that his maintenance fees with DVC were only $800. Fact is, 400 points with DVC is going to be at least $2500 in MF. He was either ignorant of what he owned or liked to brag about something he knew nothing about. I wanted to call him out on it but decided not to embarrass him in front of everyone else.

 

[dgalati]

CPNY might be right. A few months back I was in a hot tub with a number of people at HGVC Seaworld. Some guy was telling all those that would listen that he attended a HGVC sales presentation. He complained that the roughly $1400 HGVC maintenance fees were too high. He claimed to own 400 DVC points and that his maintenance fees with DVC were only $800. Fact is, 400 points with DVC is going to be at least $2500 in MF. He was either ignorant of what he owned or liked to brag about something he knew nothing about. I wanted to call him out on it but decided not to embarrass him in front of everyone else.

You would be surprised that some owners can BS and lie right up there with the sales weasels.

 

[bendadin]

No I don't think so. I'm quite sure that this man really does believe that he bought 4 million points for $3600.

I think though that they sold him 40000 points. The math with the discovery adds up and $60/month MF could be possible with a stinky MF and minimum program fees. I think that he was confusing points and dollars .00 and adding the 2 zeros to his point purchase.

Unless of course he really did buy 4 million points and his loan payment is $3600 PER MONTH and his MF is $60 per month PER 100k. I sure hope that Wyndham doesn't finance hundreds of thousands of dollar . Do they?

 

[md8287]

I sure hope that Wyndham doesn't finance hundreds of thousands of dollar . Do they?

Im sure they would finance any amount as it counts as a sale

 

[Jimag]

No I don't think so. I'm quite sure that this man really does believe that he bought 4 million points for $3600.

I think though that they sold him 40000 points. The math with the discovery adds up and $60/month MF could be possible with a stinky MF and minimum program fees. I think that he was confusing points and dollars .00 and adding the 2 zeros to his point purchase.

Unless of course he really did buy 4 million points and his loan payment is $3600 PER MONTH and his MF is $60 per month PER THOUSAND. I sure hope that Wyndham doesn't finance hundreds of thousands of dollar . Do they?

My bet would be that the purchases is from Queens and a teller of tale tales like someone else we all know. I don't think even the most unscrupulous Wyndham salesperson would sell a relatively small contract for whatever amount and let the purchasers believe they were buying a 4,000,000 point contract with ridiculously low MF.

 

[pedro47]

What is the highest record of points purchased recorded from Wyndham by an owner?

 

[Braindead]

What is the highest record of points purchased recorded from Wyndham by an owner?

6,395,000 is the biggest single contract I’ve seen, don’t know if it was purchased all at one time or if they kept trading into a bigger contract

 

[paxsarah]

I tried to do some math and drop some zeros and it became too much. Another possible misunderstanding could have been instead of 4 million, 1.4 million, since that's the new level they're proposing to add. But still, there are just far to many ways this guy could have misunderstood what he purchased and/or what he was being charged - or if he was trying to misrepresent the "deal" he got, just the fact that he doesn't understand the system enough to know what fake numbers would be beyond implausible to anyone with a shred of knowledge.

 

[Grammarhero]

@bendadin what kind of law do you practice? FWIW, I actually like Wyndham resale contracts. Wyndham is really strict about proper execution and notarization.

 

[Grammarhero]

I call BS. Owners lie. I learned that when I saw the estoppels of TS I was buying.

 

[CPNY]

View attachment 13626

6,395,000 is the biggest single contract I’ve seen, don’t know if it was purchased all at one time or if they kept trading into a bigger contract

I don’t trust SMTN Sales prices. They are completely inflated. Although, I bought a SVV for 700 that was listed for 25K lol

 

[CO skier]

So, at first he said that they offered him 126k for $17,000 rolling his Discovery ($3k) into it. He declined. He kept telling them to make a better offer. So, he then tells me that he bought 4 million points for $3600 and his maintenance fees are only $60/month.

Simple. There are timeshare seller liers, and there are timeshare "buyer" liers.

 

[Braindead]

I don’t trust SMTN Sales prices. They are completely inflated. Although, I bought a SVV for 700 that was listed for 25K lol

Yes, a lot of the asking prices are crazy high. But like you did you just have to offer what you’re willing pay.
I looked at the two Wyndham preferred resellers & you’ll see some craze high prices along with reasonable priced ones also.

Some owners refuse to believe what their TS is worth as a resale.
You also have owners that still owe close that crazy high asking price.
You’ll also see those crazy high asking prices on eBay or here on TUG every so often

 

[dgalati]

I don’t trust SMTN Sales prices. They are completely inflated. Although, I bought a SVV for 700 that was listed for 25K lol

Sumday has a asking price that can ussually be negotiated down to $50-100 all in. Purchase price includes closing and resort transfer fees. I have bought many Grand Desert deeds, a few Bonnet Creek and National harbor deeds from them. Never had a problem.

 

[dgalati]

Yes, a lot of the asking prices are crazy high. But like you did you just have to offer what you’re willing pay.
I looked at the two Wyndham preferred resellers & you’ll see some craze high prices along with reasonable priced ones also.

Some owners refuse to believe what their TS is worth as a resale.
You also have owners that still owe close that crazy high asking price.
You’ll also see those crazy high asking prices on eBay or here on TUG every so often

Resale values fluctuate depending on the time of year. Best time to buy is from Halloween to Christmas. Best time to sell spring break to mid summer.

 

[Braindead]

Resale values fluctuate depending on the time of year. Best time to buy is from Halloween to Christmas. Best time to sell spring break to mid summer.

I don’t have a clue what your post has to do with mine

Owners ask crazy high prices year round, those crazy high asking prices have nothing to do with the time of year

 

[55plus]

Resale values fluctuate depending on the time of year. Best time to buy is from Halloween to Christmas. Best time to sell spring break to mid summer.

I agree with your timeline based on my observation and experience. I bought a 500,000 point Old Town Alexandria contract for $.05 per 1000 ($250) on Christmas Eve several years ago. There were 3 bidders including me. The other two must have been busy Christmas Eve so it was an easy snip. Seller paid closing; I paid deed transfer.

 

[dgalati]

I don’t have a clue what your post has to do with mine

Owners ask crazy high prices year round, those crazy high asking prices have nothing to do with the time of year

I agree with your timeline based on my observation and experience. I bought a 500,000 point Old Town Alexandria contract for $.05 per 1000 ($250) on Christmas Eve several years ago. There were 3 bidders including me. The other two must have been busy Christmas Eve so it was an easy snip. Seller paid closing; I paid deed transfer.

It was posted for others and not for your eyes only. Try not to be so narrow minded. Some found it relevant and others may not be so informed, others also may find it usefull.

 

[Braindead]

Resale values fluctuate depending on the time of year. Best time to buy is from Halloween to Christmas. Best time to sell spring break to mid summer.

I agree with your timeline based on my observation and experience. I bought a 500,000 point Old Town Alexandria contract for $.05 per 1000 ($250) on Christmas Eve several years ago. There were 3 bidders including me. The other two must have been busy Christmas Eve so it was an easy snip. Seller paid closing; I paid deed transfer.

How can resale values fluctuate depending on the time of year if they’re free ?
I thought they’re given away everyday of the year so how does the fluctuation occur, I don’t count free year around a fluctuation ?

Why worry about resale values fluctuating when it’s cheaper to rent from a VIP ?