Comments on: 10 Reasons Timeshares Are A Bad Deal

By: becca

becca — Fri, 16 Sep 2011 02:09:52 +0000

We bought a timeshare in Mexico and then added points to include our family. We have access to RCI and Hilton, but we have not been able to book either of these in 2 years. We seem to only be able to book Mexico. NOT VERY HAPPY. Plus, it is work and we are charged to look for bookings on RCI.

By: rs

rs — Tue, 21 Dec 2010 05:34:55 +0000

This article makes SO MUCH SENSE. Timeshare is never an investment. Let us do a basic math here.
Scenario 1
Average price of high end ( For example Marriott) Timeshare is $30,000 ( you have lost this money the moment you pay it)
Maintenance fee per year is $1300
Morons finance for their vacation. Therefore let us assume an interest of $ 3500 per year
If you want to exchange weeks, then you may have to pay additional $100 to an exchange company OR to the timeshare development company.
In this scenario, you have already lost your $30,000, you are paying interest on this money, you are paying maintenance fee and an exchange fee.
Scenario 2
I put my money in bond market at 3% interest and earn $1000 per year
I add the maintenance fee of $1300 to it
Now I have $2300 at my disposal AND I STILL HAVE MY $30,000 with me.
I think with $2300, I can have a nice vacation for a week by renting a hotel or a timeshare .

We have not yet learned our lesson even after this economic collapse. As Americans we need to start SAVING our money INSTEAD of spending the money and financing to take a VACATION when we are not sure if we will have a job tomorrow. Let us learn how to save and live within our means from Asians.

Great Article.

By: pfadvice

pfadvice — Sat, 07 Nov 2009 15:06:18 +0000

@David

I wrote this article because thousands of people have complained about their timeshare trap to me over the years, not because I had one bad experience (I actually have had none because I have never bought a timeshare)

The problem with your analogy is that even a high end car loses 20% the minute it leaves the dealers parking lot, not just the Yugo and the same is true with timeshares (although it loses 50% – 90% the minute it’s purchased). Marriott is no different as I have received plenty of complaints about people stuck with Marriott timeshares as well.

By: david

david — Sat, 07 Nov 2009 06:27:23 +0000

Is there a legitimate company in the business? I have Marriott and theirs are different. I can resell mine for what i paid for it.

Just because you bought a Yugo doesn’t mean one should give up driving. There are pretenders in every business. You made a knee jerk reaction to buy it without knowing the facts and you are making a knee jerk reaction to throw all of them under the bus.

By: joseph muffin

joseph muffin — Mon, 17 Aug 2009 22:07:20 +0000

Despite the bad reputation of the timeshare industry, you’ll wonder why there are still individuals who own a timeshare. I think it’s the timeshare sales presentation. Timeshare developers mostly present their resorts greatly without warning of the incoming liabilities that lie ahead.

By: pfadvice

pfadvice — Thu, 18 Jun 2009 16:17:01 +0000

My question

By: Tim

Tim — Thu, 18 Jun 2009 16:06:47 +0000

I am one of the fools who purchased a timeshare. I also paid a company $625 to sell it. BIG mistake. Its been for sale since 2003 no offers. I dont have time to go to my timeshare. Maintenace fees cost more than a hotel would cost for the year that I can use my timeshare. DON’T buy a timeshare horrible idea. So far I am about $15k in the hole and I have never used it. Its a scam.

My question…. Is there any magic way to make this go away and get it off my hands. I would consider a huge loss if I could just be free of this darn thing.

By: Conston Taylor

Conston Taylor — Thu, 01 Nov 2007 03:45:21 +0000

I could not agree with you more.

I just wrote a blog on it before finding you page on digg.

Check out my page when you get a sec.

Nice Job!!!

By: Steve

Steve — Fri, 19 Oct 2007 19:58:01 +0000

Timeshare is a great product as long as you know what you are buying into. There are two kinds of people those that love it and those that hate it. Unfortunately because of scams and other high pressured techniques the larger companies that offer good products now get a rougher deal. In my opinion.

By: William

William — Thu, 12 Jul 2007 04:41:13 +0000

If Quite Claim does not go through, you may be out of luck. Selling off timeshares are a bigger scam than the timeshare itself. I had my own timeshare, but after 5 years, I just got bored with it. Ultimately I found a company called timeshare relief that took it. Their service probably applies to inherited timeshares too.