Need advice quick! We purchased a Wyndham CWA points plan from the developer. Did we make a mistake?

[MelRod]

We just purchased 400k Wyndham CWA points from the developer for $58k. Seems like a lot, but I've heard of others purchasing for more money, so not sure. The MFs are $219/mth. We also received 600k bonus points to be used in the next 2 years and a certificate for 2 RCI weeks.

1. Did we make a mistake in purchasing this?

2. If a person does decide to purchase CWA points, is it ever a good idea to purchase them from the developer, rather than in the resale market? And if so, why?

I'm still within the cancellation period and seriously considering rescinding, and need some advice quickly! Thank you!

 

[Fredflintstone]

One word

YUP

Rescind today!

Buy resale at 90 percent less


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[HitchHiker71]

We just purchased 400k Wyndham CWA points from the developer for $58k. Seems like a lot, but I've heard of others purchasing for more money, so not sure. The MFs are $219/mth. We also received 600k bonus points to be used in the next 2 years and a certificate for 2 RCI weeks.

1. Did we make a mistake in purchasing this?

2. If a person does decide to purchase CWA points, is it ever a good idea to purchase them from the developer, rather than in the resale market? And if so, why?

I'm still within the cancellation period and seriously considering rescinding, and need some advice quickly! Thank you!

If you are experiencing any level of buyers remorse, then listen to your gut and rescind. You only have a precious few days to rescind, you have the rest of your life to buy back in with the developer and probably at a better price than you paid now.

http://wyndhamexperts.org/index.php/2019/10/10/i-did-the-wrong-thing-what-do-i-do-now/


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[HitchHiker71]

1. Did we make a mistake in purchasing this?

Probably.

2. If a person does decide to purchase CWA points, is it ever a good idea to purchase them from the developer, rather than in the resale market? And if so, why?

Only under certain very specific circumstances for VIP benefits. But seldom does it make sense to do so as your first purchase, especially if you aren’t an expert on Wyndham timeshares already. If you aren’t an expert, rescind.




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[rickandcindy23]

Definitely rescind. Do not regret this, and you most definitely will, if you do not rescind. Follow the directions exactly, and ask the post office to make sure you get a receipt that shows they signed for your rescind notice.

You could buy some good timeshares for much less that you will pay much less to own.

 

[Passepartout]

Post office is closed today. Research tonight. Rescind by USPS Certified TOMORROW! Save THOU$AND$!!!

Jim

 

[moonstone]

. Did we make a mistake in purchasing this?

You only made a mistake if the spending of $58K wont affect you at all financially. You can buy resale for a small fraction of that price with most (if not all) the same perks. Rescind now while you are in the legal rescinding period and can get a full refund. Read everything you can on Wyndham (as well as the other systems) and then make a more informed decision. You did not get a 'special' price and if you decide you really want that package the sales folk will be more than happy to sell it to you at their over-inflated price.
Welcome to TUG, it may have just saved you $58K!!

~Diane

 

[MelRod]

Thank you! I'm writing my rescission letter now! I can't thank you all enough for the advice!

 

[Richelle]

Thank you! I'm writing my rescission letter now! I can't thank you all enough for the advice!

Good call. There is a ton more research to be done before deciding if timesharing is right for you. If you determine timesharing is right for you, then decide if Wyndham is right for you. If you live in the Pacific Northwest, WorldMark might be a better option. If you’re a die hard Disney fan, Disney Vacation Club (DVC) might be a better option. If you decide timesharing and Wyndham are right for you, you have to decide if VIP is worth it to you. Personally, I think VIP Silver is more expensive then it’s worth. VIP Gold and Platinum are better, but they can cost significantly more. I’m VIP Gold and love it. I also have resale points. Once you decide if VIP is worth it to you or not, then you need to decide if you want CWA to get 13 month booking priority at 68+ resorts, or you want lower maintenance fees and don’t need to book 13 months out. Finally, you need to determine how many points you really need. The more points you have, the higher your maintenance fees go, so you don’t want to buy to many. You can review the directory to find the points charts to the places you want to go. Club Pass locations can only be booked with retail bought points. Margaritaville has its own booking restrictions.


http://www.nxtbook.com/nxtbooks/wyndham/plus_membersdirectory1819/



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[dagger1]

You might also want to consider Westin, Hilton, Marriott and Hyatt timeshares. These are fabulous resorts, much more so than the vast majority of Wyndham/Worldmark “resorts”. But we love our Wyndham points (all resale purchased on eBay) for the many destinations they offer.

 

[Grammarhero]

We just purchased 400k Wyndham CWA points from the developer for $58k. Seems like a lot, but I've heard of others purchasing for more money, so not sure. The MFs are $219/mth. We also received 600k bonus points to be used in the next 2 years and a certificate for 2 RCI weeks.

1. Did we make a mistake in purchasing this?

2. If a person does decide to purchase CWA points, is it ever a good idea to purchase them from the developer, rather than in the resale market? And if so, why?

I'm still within the cancellation period and seriously considering rescinding, and need some advice quickly! Thank you!

Rescind. I bought 438k Wyndham pts for five ($5) dollars total.
You can get for free or $1 from TSN. https://www.timesharenation.com/resort/Wyndham-Points They are out right now but if you check back daily, you can get free Wyndham TS.

 

[MelRod]

Do these resale points allow you to trade through RCI for things like cruises, flights, etc. also?

 

[Richelle]

Do these resale points allow you to trade through RCI for things like cruises, flights, etc. also?

RCI yes. Not 100% sure on cruises. Flights no if you don’t have Plus Partners. You need at least one purchase direct from Wyndham for Plus Partners. Same with car rentals. However, the conversion rate is poor. The maintenance fees on the points you pay are double or more then what the actual cash cost of the flight. The only thing good about Plus partners is nightly stays. That allows you to book single nights for a cheaper fee at a Nightly stays participating resort. It’s a fair amount of resorts that participate, but only a small fraction of RCI resorts that are available. For the ones that don’t participate, or those without Plus partners, you have to book full weeks. You don’t have to stay the full week though.


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[dandjane1]

Fourteen and a half cents per point is a lot better price than the Wyndham "rack rate", but definitely RESCIND.
About the only reason to not do so is if you want or need "Event Weeks", where you will need the 13-month Advance Reservation Priority (ARP).
BTW, CWA MFs have caught up to, and exceeded the UDI MFs in many cases, so the original selling point of cheaper "blended" MFs has been lost.

 

[dgalati]

RCI yes. Not 100% sure on cruises. Flights no if you don’t have Plus Partners. You need at least one purchase direct from Wyndham for Plus Partners. Same with car rentals. However, the conversion rate is poor. The maintenance fees on the points you pay are double or more then what the actual cash cost of the flight. The only thing good about Plus partners is nightly stays. That allows you to book single nights for a cheaper fee at a Nightly stays participating resort. It’s a fair amount of resorts that participate, but only a small fraction of RCI resorts that are available. For the ones that don’t participate, or those without Plus partners, you have to book full weeks. You don’t have to stay the full week though.


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Rescind now and learn the system before you buy at developer prices. RE: RCI stays. I have seen 3 night stays being offered lately. Same booking fee of $239 for the weekly or 3 night stay. As Richelle stated the use of points for car rentals and plane tickets is a horrible use of points if you look at the conversion rate.