Timeshare exit

photome

OP what is the appeal in keeping the timeshare?

IMO you dont need a timeshare to have timeshare to enjoy a deluxe holiday (your words)

Cant believe you were considering cancelling but then spent more

budgetflyer

You clearly have not stayed high season with family in a gold crown timeshare resort. Many compare to 5* hotels that would cost a family of 4 more upwards of 400 a might. Multiply thst by a fortnight and you can then start to see value in paying a yearly management fee. It really all depends what a persons individual requirements are. HOWEVER. as I said b4, that experience can be bought resale for 10%. Imagine, it either costs a 10th or spend the same and have 10 times the points. A mother warning though, management fees will rise pro rata to the amount of points you have

still_here

Thank you again for comments, especially budgetflyer! I am setting aside Friday for decision day. However I think this discussion is if of interest to others because I believe the more extreme comments on the internet are not always justified. Is there anyone with experience of being allowed to exit from Diamond because of what they call exceptional circumstances, such as ill-health, becoming 75, becoming too poor to afford the fees, etc? They claim they have exit procedures. Can this be verified?

threepenny_bit

We are in the process of exiting right now. We had to give our points back with 0 return and pay $250 notary fees to have the paper work signed.
We simply cannot afford the increase in membership fees at this time and so decided to just hand everything back. We have spent thousands over the years and enjoyed every single vacation but now it is getting just ridiculous.

There are also ways to get out if you can show undue hardship or ill health as well.
There is a DRI members website on Facebook page run by members and not Diamond itself. It is based out of the uK so they have lots of advice for EU members.

still_here

On Friday, as planned I made my decision and cancelled my point purchase, within the 14 day cooling off period. I based my decision on trying to make comparisons with top holiday destinations.
A week in mid April in a resort in Maui, Hawaii would cost 8500 points in Diamond which I calculate as costing £1121 in annual maintenance charge. The same week in the same place using a 'special deal' from Hotels.com would have cost £1193 so they are comparable. Obviously if you can be flexible and they have spare capacity you can get good deals at DRI.
We have had many good quality holidays with DRI and I am now reasonably confident that I can cancel my existing 3000 points when I get to 75, and I think you can escape earlier if you notify DRI and pay 2 years maintenance. Or you can sell them to someone else for not much money!
I think my experiences and other comments are worth reporting because there are some very paranoid comments on the internet that must be worrying for some. Obviously you are likely to get the hard sell but the 14 day cooling off required by law (in the EU, I think)is useful