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Worldmark / Untruthful timeshare salesman

1 Redmond, WA, United States Review updated:

My main reason for writing this is to warn others to research sales practices of timeshares and to make sure your legal documentation is reviewed by legal councel before signing.

After numerous calls, I went to seminar at Worldmark by Wynham (Trendwest) in Fresno CA. Not going into detail, at my presentation I was verbally lied to almost to the point of negligents. There big scam is getting someone to sign a contract without being afforded legal review of the contract. To get the so called premium package they offered you must sign that same day. There is no way anyone who is not a lawyer can read and understand the "lengthy" contract and there was no way I could get a lawyer on such short notice, which was quite convenient for them especially on a Saturday

They said not to worry because of the short time to review so many documents, they would explain every detail. Needles to say they forgot to metion the legal info that you could say is written for a lawyer to read and not your average consumer.

The big thing they leave out is that there is no way to ever sell back your memebership!!!?. I asked them where in the contract it said this and the only response I got was there is a 7 day cancellation period. But thats a given in many contracts. I asked if there was a liquidation or penalty clause or something in case of a default. I was just told over the phone that there is no way they would ever take back my membership, the contract was ironclad (they really couldn't give me an answer). If you could never give it back why would you need a contract. I do not know how they can enforce this since there is no tangible (or deeded) property involved, "It's just a membership". If I financed a house or a car and did not make my payments they would take my car or house an all money paid. If there timeshare membership was so good, why do they have to stoop to this level in order to sell a membership.

One reason I could think of and this is my fault for not researching the number of lawsuites Trendwest has against them for similar consumer fraud practices.

Another reason that became well aparent was the resale value. When I got their premium membership (Worldmark by Wyndham) with 6000 points it cost me $11, 400. Needles to say when I started doing a little more online research the "RESALE VALUE" of my Worldmark membership was between $3800 - $4200. This is the main reason they do not tell you they won't take there membership back. It as though they throw it out on the market and pad their pockets on the loses involved. Oh did I say that after there 13%+ interest rate they offer for their convenient financing you will be paying over $18000 over 10 years for the resale value of a $4000 membership.

I also wanted others to know that being in the military and seeing several other military and retired military members with a steady income in the same timeshare trap, to become aware of these untruthful timeshare salesman. They may be targeting fellow service members as well as many others.

Va
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Comments

  • Tr
      18th of Jun, 2009
    0 Votes

    I agree with you that the sales tactics of WorldMark/Trendwest are piss poor. My husband and I bought Trendwest just before 9/11, after a car accident rendered me incapable of the more rugged style of vacationing my husband favors (I was never much of a camper anyway...). However, after 9/11, when both my husband and I lost our jobs, we tried to sell the timeshare, only to find out that we were totally stuck with a bogus sale, with something that is worth 1/3 of what we ultimately paid for it. We ended up paying for it for the entire 8 years, and have spent WAY MORE MONEY than we would have liked to. On top of that, Wyndham has taken over Worldmark/Trendwest and vastly inflated the cost of points, in addition to building or buying a host of resorts that my husband and I will now never get to visit. We are happy with the quality of the resorts, and while there is a bit of a crowd when it comes to getting reservations, as long as we plan in advance, we usually get something nice. The people at the resorts couldn't be nicer. So all in all, I'd say that I am not unhappy. My big question, which I wish someone would find out for me, as I don't have time to research, is that the sales reps who we annoy by agreeing to sit through their presentations even though they know we ain't buying anything else (we get gift cards or something useful for the pain of sitting and listening to the presentation) keep saying that we won't be able to use the other points if we buy on the aftermarket. This seems like a lie to me. And while I haven't spent any time trying to research the actual prices for the aftermarket points, it seems it would make a great deal of sense to do things that way - you still need a realtor to do the deal, though, so you will lose money one way or the other. Anyone do their due diligence and willing to share???

  • Ne
      13th of Jan, 2010
    0 Votes

    Thank you for being so so so honest.
    I too was caught up in what I feel is a crooked scam and realized that you can never recover your own money when trying to get rid of this albatros. I have lost several more thousands of dollars in paying the maintenance fees cost that goes on forever and keeps going up each year.
    Do not ever buy what I feel is a crooked scam.

  • Ne
      13th of Jan, 2010
    0 Votes

    my sentiments exactly.

  • Wm
      15th of Aug, 2010
    0 Votes

    Ask your questions here... http://www.wmowners.com/
    Dont trust a word the salespeople have to say.

  • K3
      5th of Oct, 2012
    0 Votes
    Worldmark - Scam
    Worldmark
    Queensland
    Australia

    When I signed up over 10 years ago, I was not aware that I could lose my membership if we didn't get keep up with our levy payments. I have also been told that it was all inflation proof. But they did not tell me that the value of the points would not decrease in their buying power so to speak. As a result - more points are required for holidays since we joined up. So if that's not inflation then what is? It is a scam - you don't own anything - you can never become a board member. Cut you losses and run. We blew $10, 000

  • Po
      25th of Nov, 2012
    0 Votes

    I bought a new car for over $27, 000 and now just 4 years later it is worth less than $7, 000. Almost the same as your timeshare except you still have something as good as the day you bought. My point is enjoy and stop whinning...

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