Many people were convinced to purchase timeshare with creative sales tactics. One of the most common is that the timeshare is an investment for the future, an asset that can be enjoyed by you and your family for many years to come. Sometimes timeshare contracts don’t even have an end date, so payments are to made for the foreseeable future and in some cases beyond that.
Here at Timeshare.lawyer we are detailing the reasons that, not only are timeshares not worth the money, they also aren’t worth the stress they can bring.
Many timeshare sales people work on a commission-only basis, meaning they only make money when a sale goes through. This can lead them to use all sorts of unscrupulous techniques to convince you to purchase timeshare. Sales people have a habit of saying anything they think you want to hear and if they believe that focusing on ‘positive’ financial benefits will help then that is what they will say.
A popular line often used is – Timeshare is an investment. Of course this is not true. In fact the value of timeshare decreases drastically over time. In financial terms, when looking to make an investment, you expect the value to increase. Sales people have been known to advise potential timeshare owners that it will be easy to sell on the timeshare when it is no longer of benefit to you and you are likely to make a profit. Not only is it extremely hard to resell your timeshare, it is highly unlikely that you will make a profit. There are even reports of people trying to sell their timeshare on eBay for as little a ₤1.
Another tactic timeshare sales people will use is – Timeshare is good value. This is definitely a matter of opinion. At face value, timeshare gives people the opportunity to own a slice of property that they might otherwise be unable to afford. In reality, when taking in to account initial payments, maintenance fees and any taxes that may be due, it is likely to be cheaper booking a holiday like everyone else. If you own timeshare points, or are part of an exchange program, the salesperson may have persuaded you to buy based on the fantastic opportunities traveling to different resorts can offer you. This is only good value if you are successful in booking your required time. Many people find that when it comes to booking there is very limited availability, which means they end up missing out on their yearly vacation. You still have to pay your maintenance fees whether you get to use to timeshare or not. This is both financially troublesome and upsetting for the whole family.
If you are successful in either exchanging you timeshare or booking with your points, you may find that the particular resort that you have booked may not be to the same standard maintenance wise that you are used to, meaning you are paying fees for something you aren’t getting.
The last common problem we are going into today is – The timeshare is exclusive. Rarely will you find that you timeshare resort is exclusive. Many owners have reported that upon arrival at the resort the find that just about anyone can stay there by booking holiday by other means.
If any of the above resonates with you call Timeshare.lawyer today on 0800 023 9032 as it may be that you were mis-sold your timeshare.
See our recent post regarding reasons to leave your timeshare.