If you’ve ever been to Las Vegas, Orlando or Branson you’ve likely encountered a timeshare salesperson offering free gifts in exchange for an hour or two of your time. Sometimes the gifts are pretty enticing. $100 Visa gift card. Free show tickets. Etc. But are they worth it?
Timeshare is one of the products that just smells of scam. Huge gifts are offered just so you’ll attend a sales pitch, and once you get there the price of the timeshare will often change from $20,000 to $10,000 in a matter of minutes. Sometimes, high-pressure sales tactics are used and you’ll feel like you have no choice but to buy the timeshare on the spot.
Before we get too far though, let us explain the concept of timeshare. Timeshare it is a type of vacation ownership in which you own a yearly share of room in a particular resort. Most timeshares are for 1-week per year, so your room is often shared with 53 other timeshare owners who each own a different week than you each year. Timeshares are often larger than hotel rooms and come with a kitchen and private bedroom. They’re ideal for families and larger groups.
Should You Take the Tour?
If you do, don’t buy the timeshare from the resort developer directly. Take the free gift and go. If you’re interested in the concept of timeshare and would like to buy one, look on the resale market first. Timeshares on the resale market are for sale by owner and are up to 50% – 90% off the price you’d pay to a resort directly. You can find these timeshares by simply searching for them on Google.
What’s With the Free Gift?
Resort developers are able to offer you such extravagant gifts because that cost is later included in the inflated price of their timeshare product. This is why you should never buy from a resort directly. When you buy through a resort directly, you pay for the marketing costs, salesmen salary, and more. It’s all included in their inflated price. Always buy a timeshare on the resale market after much research.
Is a Timeshare Worth it?
Timeshare only makes sense in a few specific scenarios. If your family likes to have a family reunion each year at the same location, a timeshare would be a great idea. You won’t need to pay any exchange fees through services like RCI and II to go to a different location and you’ll have a nicer, upgraded room at your favorite resort. Timeshare can also make sense if you like to travel with other couples. You could get a timeshare with 2 private bedrooms and save money on accommodation cost. It’s almost always cheaper to stay in one room than to pay for two separate rooms.
Already Own Timeshare and Looking to Exit?
Many timeshare owners wonder if their purchases were worth it as the years go on. This is because a timeshare purchase comes with additional yearly maintenance fees that usually average $800 or more per year. The timeshare may have seemed like a good idea when it was originally purchased, but after years of maintenance fees many timeshare owners have found that their vacationing habits have changed and they no longer wish to be owners.
When a timeshare owner would like to stop their yearly maintenance fee, they often look for a way to sell their timeshare, but soon discover that there isn’t much of a market. This is when they turn to timeshare exit companies who specialize in timeshare exit. These companies help timeshare owners exit their timeshare contracts and stop their maintenance fees once and for all.
When it comes to exiting your timeshare, it’s important to do as much research as possible. There are a lot of scams out there and can it be easy to be fooled. If you’re looking to cancel your timeshare, make sure you do your research on the company you choose before sending them money. Upfront fees are rampant in the industry. Look for companies offering to help you before collecting any fees from you. Good luck!