Timeshares are unique vacation plans that are part of a billion-dollar industry. They have been popular since 1969, with varying levels of quality. But popularity isn’t a good reason to buy into a timeshare, and may end up costing you money.
1. Contracts
Timeshare contracts are the driving force behind resources like https://acagroup.org/timeshare-cancellation. Too many people fall victim to bad timeshare contracts with convoluted clauses. When fighting to get your money back, there is a breaking point where you have to take less than what you’re owed, or nothing at all. This is the reality of dealing with timeshares, and it gets worse if you have multiple timeshares. By hiring a professional to look over a bad contract, your money and time gets the respect it deserves.
2. Scams
Scams have overtaken the timeshare industry. Even with careful planning, it is hard not to get caught up in the latest timeshare scam. Imagine buying a dozen eggs for a bargain and then finding out that only one of them is uncracked. This is what it’s like when navigating for a good timeshare. The industry puts money first, and consumers last. These values are why timeshares have more duds in their investments than winners. Good timeshares are rare, and are usually passed down between friends and family.
3. Resale Value
If a car loses some value the moment it leaves the lot, then a timeshare loses the majority of its value the moment the contract is signed. You’ll never be able to ‘flip’ a timeshare for more than it was purchased for. Even in popular locations, no one is overpaying for a timeshare and considering it a flip-able investment. Convenience is the driving factor behind resale value, but it is unfortunately marred by common scams. That means your resale value will always have an asterisk that puts you in a bad position for bargaining.
4. Fees
The fees for a timeshare can be outrageous. They are never specific, and many of them fluctuate based on the will of randomness. These fees are not always visible without doing a deep dive into the contract. This same vague contract also puts the buyer of the timeshare in a lesser legal position if they ever decide to get out of the contract. There is no confusion here, as that is the entire point– you’ll always get hurt financially at the beginning or the end.
5. Selling Tactics
The same smarmy selling tactics used for MLM and other scams are used for timeshares. Unfortunately, these tactics are used for legitimate and scam timeshares. It can all be overwhelming, and definitely not worth the trouble if you make a bad decision. Timeshare selling tactics are legendary for being awful, but also noticeably effective for overcoming objections.
Money And Time
The money loss comes first, and then your time. Timeshares can be a bad investment that will take valuable resources away from your life. Even when there are diamonds in the rough, the timeshare risk is completely on your end to manage.
