Original Message:
Re: Seems like I'm Finally Getting Rid of Diamond Resorts Mystic Dunes (by Adrian H.):
Gary, I really appreciate your providing this crucial information for all of those people who feel that have been exploited in such a negative light.
I feel as if I am a victim of their exploits. I had a Diamond Resorts account that I purchased in 2015, and the annual maintenance fee quickly went from $800 to $1K (for 2,500 points). The entire loan was for $10K, and I am close to paying that one off.
The issue I have with Diamond Resorts is that their sales representatives use some pretty sly and aggressive tactics to get you to buy more points. Offline, they promise you the stars and the moon. But, once you get into that room to review and sign the Purchase Proposal, they make no mention of anything they promised. Instead, they tell you that the contract must be drafted a certain way and cannot contain the things they initial promised.
So, there I was, visiting my home resort (Cancun Resort, Las Vegas, Nevada) and a sales representative explained that my aforementioned account had no equity, and that I should purchase more points in order to give the account some equity. He added that he could consolidate the old and new accounts so that my maintenance fee would go down to $650. This proposal was underscored by the Sales Manager. So, the plan was to buy 4,000 additional points, add them to the 2,500 I already had, and consolidate both accounts into one new account. That was the motivating factor for me to sign. Unfortunately, this did not happen. I ended up with two accounts: the old one and the new one with two separate annual maintenance fees. To summarize, the maintenance fees for the 2,500 points was twice the amount of the maintenance fees for the 4,000 one, which was utterly ridiculous. So, now I am stuck paying almost $1,700 a year in combined maintenance fees for both accounts. That is why I need to relinquish the old account.
So, I searched the web and stumbled upon your postings--thanks so much for the information. Upon reading the thread, I immediately contacted Diamond Resorts' Hospitality Department, and spoke with an agent to see if the company still offered this program and, to my astonishment, they do! It's called the Transitions Program, and the department's phone number is (855) 342-3689. However, as discussed in your thread, the account to be relinquished must be paid off and the maintenance fees must be current. The other stipulation that was not disclosed is that, although the account must be paid in full, you must wait a minimum of six months from the payoff date to start the process. Therefore, since I still owe about $2,200 on this account, I must pay it off and then wait six months. This wait will force me to pay the $1K in annual maintenance fees before I can even start the relinquishing process. This will be an expensive life lesson, but we must all look at the long term in order to appreciate the agony of throwing money down a black hole. In the long run, I will be saving thousands of dollars in maintenance fees for points of which I will never take full advantage. It will free up that financial burden to allow me to invest the money into something more lucrative, appealing, and beneficial.
For those who are looking to buy timeshares from Diamond Resorts: Please DO NOT buy one. The person who invented this concept is a genius, and is a filthy rich and ridiculously affluent person, who preys upon the ignorant and misinformed for his own benefit. Every time you want to take a vacation, you will end up spending a significant portion of it sitting in a room with aggressive sales vultures, pressuring you to purchase more points. Be wary of those VIP representatives who "gift" you tickets and special excursions and the like, with the stipulation of having to sit through what they call an "update" or "presentation." This is where they use every tactical imaginable to place you under duress to sign your finances and life away to more unnecessary debt. Please do not become a victim like those who came before you. In the long run, you'll save more money paying full price for a vacation to Spain than giving away your hard earned finances to a predatory company like Diamond Resorts. Think about it: You could use that money to invest in company stocks, a 401K, a vacation account, or upgrades to your residence. Bottom line: IT'S NOT WORTH THE MONEY, THE HASSLE, OR THE STRESS. Steer clear from Diamond Resorts and any other timeshare companies out there. They're not there to assist you with vacationing. Their purpose is TO MAKE MONEY. Period!
Thanks again, Gary, for taking the time to help other victims like me. God bless you!