When we went to the Worldmark sales office at Wolf Creek to find out more about vacation ownership, I won't lie, we were interested in buying. However, we had never really looked into it before and had no idea what the cost of a membership was.
When our salesmen revealed the price, we were visibly and verbally shocked. We had previously mentioned our interest in buying and noticing our shock at the price, our salesmen began giving us suggestions on how to offset the cost by having our membership pay for itself.
He suggested we do something he had done to pay for his membership. He goes on to say, I couldn't afford to go on vacation while I was paying off my membership credits, so I let my family and friends use my credits along with Bonus time, to book there vacations. He goes on to give several examples of hotel prices in places like Las Vegas, Hawaii and other pricy destinations. Explaining that It's easy to make money having other people use your credits. They paid me and I used the money to pay for my membership credits, so they were basically free, and now that my membership is paid off he explains I let family and friends use Bonus Time and charge them double my cost, a few times a year, and pay my dues that way. Even at double the cost they are still getting a great deal.
When we asked What if we can't find anyone who wants to use our credits or bonus time? Our salesman was again very helpful and explained that we own our membership and we could sell anytime. Then he proceeded to show us a chart explaining that as the company grows the price of credits goes up, leading us to believe that our credits would appreciate in value.
As you can imagine, at this point, with all our questions answered, we felt quite at ease and we began the purchase process.
We purchased in the summer and immediately began spreading the word to friends and family that we could get them a discount on accommodations for there next vacation. We had many takers and tried to book using credits or bonus time on many occasions. We were unable to find availability at any of the desired locations, even with help from members of the Worldmark staff.
Becoming more and more aware that what our salesmen suggested we do, was not a possibility, we looked into selling. My heart sank as I realized the credits we bought less then three months earlier had decreased in value by 50% to 70% and selling was not an option.
It can't be ok for a company to do this. Is there any hope of getting our money back? Help!!!
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