Options for backing out of Non-DVC Timeshare?

[mustinjourney]

Hi all,

Just got a call from my uncle and he was asking if I knew how he could get out of an Orlando Westgate timeshare he purchased while vacationing in Vegas. He said they kept him there for over 6 hours and he signed up just to get out of there (obviously, not the smartest decision to make). He is well past his 10 day rescission time period -- so that is out.

He bought a contract for $5300 up front, plus $400 a year in maintenance fees -- and it was financed (at 18%). Total monthly payments are over $100 a month for the next 10 years. I'm assuming the monthly payments will increase each year as well.

He said he contacted a company and they said they'd take care of it for about $4000. Problem is, he can't afford to pay them up front -- so their solution is to put him on a payment plan of around $400 a month. Given his financial situation, I don't think this option makes much sense.

Does anyone know what are his best options? Can he rent out his vacation points and recoup some of his money?

I'm seeing that westgate appears to have an option to allow owners to sell it back to westgate (https://www.westgateresorts.com/legacy/how-to-sell-a-westgate-timeshare/). Is anyone familiar with this option?

I'm assuming he could sell it at a loss on the secondary market somehow -- but he does not have the money to pay the difference, so I'm not sure how that would be viable either.

Any other options?

Thanks!

 

[Cyberc1978]

I would suggest you visit the tug website, they are about all types of timeshares not just Disney.
www.tugbbs.com

 

[mustinjourney]

I would suggest you visit the tug website, they are about all types of timeshares not just Disney.
www.tugbbs.com

thanks!

 

[chalee94]

1. Don't make contractual commitments unless you are prepared to keep them.

Too late for that, so...

2. He can keep the timeshare and use it. Pay the maintenance fees and learn from the TUGgers how to use or trade it.

3. He can sell it. Maybe get $1 on ebay. Maybe not. (And that is only an option if it is completely paid off.)

4. See if Westgate will accept a deedback. I believe that it would have to be completely paid off and may require upfront payments for maintenance fees (maybe a year or 2? Not sure. TUG would have details.)

5. Tell Westgate that they can take it back or not, but no further payments will be made on the mortgage or maintenance fees. There will likely be consequences - they will typically report you to the credit rating agencies and debt collectors will start calling.

6. Do not ever, EVER pay a third party up front to get rid of the timeshare. They typically take your money and run. And you wind up on a list of suckers that other scammers can use...

 

[CarolynFH]

Unfortunately @chalee94 is right on all points. If there’s a mortgage, he won’t be able to sell it, nor will Westgate take it back. The worst thing he could do would be to pay an exit company. None of them can do anything he can’t do for himself.

I concur with reading on the TUG forums to help him learn to use the TS to his best advantage. I know nothing about renting a Westgate resort, but I’m confident there are folks active on TUG who do.

 

[Chuck S]

"6. Do not ever, EVER pay a third party up front to get rid of the timeshare. They typically take your money and run. And you wind up on a list of suckers that other scammers can use... "

^^That should be number 1.^^

Can your Uncle either use it for trades within RCI or II to places he may like to go? Can he maybe rent it out so that at least the $400 maintenance fees are covered?

 

[amuse-bouche]

He said they kept him there for over 6 hours and he signed up just to get out of there

What? Is this really a thing. It sounds like a kidnapping!

 

[CarolynFH]

What? Is this really a thing. It sounds like a kidnapping!

Yes, it’s real. Westgate is the worst. People oftentimes have to be firm to the point of being rude to get out without buying. Read on TUG - horror stories as well as creative and humorous ways to escape or, better yet, evade attending the session in the first place.

 

[bumbershoot]

What? Is this really a thing. It sounds like a kidnapping!

My mom and stepdad were once kept nearly that long while buying a car. When they said they were hungry and needed to get dinner the sales guy ordered them a pizza. I have NO idea why they stayed. (And bought two cars*) Then again, stepdad also owned RCI which he almost never used...



* this was their intent when they got there. I don’t know what the issue was. But I wouldn’t have rewarded that dealership with my money...

 

[JasonDDN]

I was in the same situation with Westgate Vegas as they talked to my wife into it. But that’s another story for another day. Anyways to answer your question...we said the hell with it and stopped paying for it. Granted we won’t get any money that was spent up to the point we decided to stop paying for it. We stopped in the middle of last year. It doesn’t affect your credit because like Disney, they don’t report to the credit agencies and they don’t run your credit when you initially purchase unlike Disney. Eventually, they will buy back the contract usually about 12-18 months after you stop paying for it. Just block their calls. IMO...They are a very shady company because the left hand doesn’t know what the right hand is doing and they blame each side for everything but they have a lot of happy members. I am not one of them and tired of Westgate calling every 2 weeks trying to sell me something. Don’t bother trying to sell as it is worthless. People have tried to sell for $1 and no one wanted it. I know more about Westgate than I ever care to. YMMV

 

[Maistre Gracey]

You can always leave. They cannot hold you hostage. The glitch is you may have to pay for your room if you got that as a freebie for attending the presentation. If not, you may sacrifice whatever gift they promised you. Just always say no. Don’t seem interested or they will keep sending you to more high pressure salesman. As soon as they say anything just continue to say “WE ARE NOT BUYING... Period”.
You fulfill your obligation, and get out of there sooner with your free nights.
Thank the Lord I never fell for that one.

 

[Cyberc1978]

You can always leave. They cannot hold you hostage. The glitch is you may have to pay for your room if you got that as a freebie for attending the presentation. If not, you may sacrifice whatever gift they promised you. Just always say no. Don’t seem interested or they will keep sending you to more high pressure salesman. As soon as they say anything just continue to say “WE ARE NOT BUYING... Period”.
You fulfill your obligation, and get out of there sooner with your free nights.
Thank the Lord I never fell for that one.

A good way of doing it is if they said it would be 1 hour then you bring a clock and put it on the table and set the time. If the clock can do a count down that’s even better.

when the time is out, you stand and say good bye.

 

[jbh275]

Please update this thread in a few months to let us know how things are going.

 

[mustinjourney]

Wow. Thanks for all the comments and suggestions. For some reason I never got updates that there were comments.
As far as I know, nothing has happened yet. I will try to update as appropriate.
Thanks again everyone!

 

[CarolynFH]

Wow. Thanks for all the comments and suggestions. For some reason I never got updates that there were comments.
As far as I know, nothing has happened yet. I will try to update as appropriate.
Thanks again everyone!

Best wishes for your uncle. I hope he didn’t sign up with the “exit company” and that he’s able to figure something out.

 

[DVC Doctor]

send Westgate a letter of offering the "Deed in lieu of foreclosure"