Is Timeshare A Scam?
The #1 question I get is....Is timeshare a scam? The answer is yes AND no.
Before I start my personal explanation let me first say that I do not sell timeshare, nor do I work for any timeshare agency. However, I am an owner and have been around the business since my teenage years.
Like most owners, we came into ownership in the usual way. We received notice that we had received a free trip to the Bahamas...WOOHOO! All we had to do is sit through a short presentation (HAHA short presentation...yeah right!). That first timeshare vacation set the tone for us. I remember arriving in Ft. Lauderdale (free flight) and being so exhausted. I was in high school at the time and my parents left my Sister and I in the hotel room while they went to their presentation. To be honest I have no idea how long this lasted. All I know is that they left, I fell asleep, and it was really dark by the time they returned. We spent a few days there and then boarded a day cruise that took us to the Bahamas for a couple days and then another day cruise back to Ft. Lauderdale. It was during that trip that my Dad told me that they had become timeshare owners.
At first they started with a small package. The company at the time was Fairfield. We had a very limited number of points we could use each year and that limited us to certain resorts during certain times of the year. We did not have very much flexibility or any "perks" as the industry likes to call them. Over the next few years at each resort my Dad would fall for the "you must attend a short ownership meeting" ploy that was used at check-in. He would attend the meeting where they would convince him that if he upgraded he would be able to enjoy this "perk" or that "perk". The company also was bought out by Wyndham at some point. He upgraded to enjoy "perks" and even to switch his ownership deed to resorts that had less expensive yearly maintenance fees. The last upgrade he did was to put him in the platinum ownership bracket and to add me to the deed. He was told that by adding me at that point would prevent costly lawyer fees once he passed away in order for me to take over ownership. You see, what convinced my Dad to buy into the business in the first place was the ability to pass it on to your children. He LOVED to vacation with his family and wanted us to be able to continue that tradition even after he passed away.
Unfortunately, February of this year my Dad lost his battle with pancreatic cancer. He left us with this gift that we will always cherish. My Mom and I are on the timeshare ownership deed now and are still trying to make time to vacation with our family.
(This was our last family vacation with my Dad. We sure do miss him.)
So what did I mean by yes AND no?
Let me first start with explaining how it is NOT A SCAM.
-When you purchase timeshare points you do actually get to use them to stay at timeshare resorts.
-The number of points you purchase do renew yearly.
-As per your very lengthy contract, you are awarded all the perks and points that you are promised at the time of purchase.
-The points do give you the ability to travel and stay at resorts all over the globe.
Why did I say YES it is a scam?
-You are paying an incredibly large one-time fee for your timeshare points alone.
-On top of those one-time purchase points, you have to pay very costly yearly maintenance fees.
-Sales agents will make you promises they can not keep. Make sure those promises are in your contract. It might even be a good idea to have a lawyer look over it before you purchase.
-Unless you have purchased an incredibly large number of points, it will be hard for you to use them at some of the more popular resorts during the peak seasons (summer or Christmas) or stay for very long.
-Not only are you leaving your ownership to your loved ones after you pass away, but the costly yearly maintenance fees as well.
Luckily, my Dad realized that we needed a way to take these vacations but also to help with all the fees. He spent way too much money and upgraded to VIP Platinum ownership. This gives us enough points to rent and cover maintenance fees while still enjoying a vacation or two of our own every year. However, with the amount of money that my parents spent on this they could have bought a vacation home or two. Actually, I think they spent more money on their timeshare than on the home that they lived in most of my life.
So in conclusion, unless you plan to dish out a large sum of money and become a VIP owner, timeshare ownership may not be for you. Instead.....
RENT FROM US or one of our friends we help by posting their rentals on this page. Always make sure you are spending quality time with your family. Time is short, memories last, and you can't take the luxuries of the world with you when you pass.
