New to timeshare- please advise if I should try to resell now versus later

Hello,

I am new to this website/timeshare world. I purchased a Wyndham timeshare several months ago in March at the Bonnet Creek location in Orlando, Florida. I paid $23,000 for 166,000 points annually + one time 234,000 bonus points (which can be used until July 2019). I deeply regret this purchase and should have cancelled the transaction within 10 days of purchasing. But I did not know the extent of all the lies I was told by the sales rep until I did more research recently. I seriously can not believe the rep told us we would get about 4 weeks of vacation per year with 166,000 points.

I have never used any of the points, but have paid off the balance of the timeshare already. Should I try reselling the timeshare ASAP or should I try using it for a few years before reselling? What would minimize my financial loss? Should I utilize the Ovation by Wyndham exit program?

Advice would be greatly appreciated as this has brought on a lot of stress to me and my family.

thank you

sallyp95 wrote:

I purchased a Wyndham timeshare several months ago in March at the Bonnet Creek location in Orlando, Florida. I paid $23,000 for 166,000 points annually + one time 234,000 bonus points (which can be used until July 2019). I deeply regret this purchase and should have cancelled the transaction within 10 days of purchasing. But I did not know the extent of all the lies I was told by the sales rep until I did more research recently. I seriously can not believe the rep told us we would get about 4 weeks of vacation per year with 166,000 points.

I have never used any of the points, but have paid off the balance of the timeshare already. Should I try reselling the timeshare ASAP or should I try using it for a few years before reselling? What would minimize my financial loss? Should I utilize the Ovation by Wyndham exit program?

Advice would be greatly appreciated as this has brought on a lot of stress to me and my family.

Please don't shoot the messenger, but 166,000 Wyndham points could have been acquired in the resale market for just a very few HUNDRED dollars, at most --- and that amount is really all you can realistically hope or expect to recover if / when you sell, whether now or later. Low cost Wyndham points packages can be found in the resale market virtually anytime (on eBay, TUG, etc.). Someone on TUG is offering a 155,000 Wyndham points package right now, today for FREE. I am also not sure that the "one time 234k bonus points" issued to you for use within two years are even transferable to someone else AT ALL. It's unfortunate that you did not learn or know any of this this BEFORE falling for all the deceitful sales weasel lies, exaggerations and assorted other misrepresentations.

There are few ways to mitigate your financial loss in view of the excessive amount of money that you paid. You can USE those points and extract some vacation value from them. You could also attempt to make some reservations and then rent out those reserved weeks to others, but there are no guarantees in attempting private rentals and if you are new to timeshares the whole rental exercise (making reservations, placing advertising, executing rental contracts, arranging payment details) could be quite daunting. Any choice involving retaining this points ownership necessarily also means having to pay annual maintenance fees, regardless of what you do with those points. I wish you luck, but the harsh reality is that this purchase was made at much too high a cost for you to ever be able to recover any more than just a very small fraction of the extremely high price that you paid.

In my opinion, it would be a real shame to prematurely give back to Wyndham (for free) what you purchased (for serious money) by applying to "Ovation" so soon. Surely, before using that last resort (no pun intended), at least utilize the points you've already purchased for some family vacation time. The 166k points is really not enough for a prime time 2BR week anywhere, but with the "bonus" 234k points there is surely 2 weeks of vacation in a 2BR unit (or a week in a 3BR unit with points likely left over) to be had within the Wyndham system at a good location in a desirable time period. At least get SOME use and value out of what you purchased before just giving up and heading for the exits.