Timeshare

jatbaws · 15 November 2009 at 10:05PM

Wondering if anybody can give me any help about one of these been on 2 presetations and they sound to good to be true in Orlando theywere £9000 for 2weeks for the rest of your life.

ferf1223 · 15 November 2009 at 10:16PM

what was the annual fee?

there are pros and cons to time shares. We love Vegas, we usually go 2x a year. We would never even consider buying a timeshare there though...or anywhere else for that matter.

budgetflyer · 15 November 2009 at 10:56PM

You can pick up the exact same deals on EBAY.COM for as little as a $1 + closing fees. http://realestate.shop.ebay.com/Timeshares-for-Sale-/15897/i.html
OR
http://www.timeshare-hypermarket.com , a reputable company, have weeks at the likes of Orange Lake CC or Sheraton Vistana Resort for under a £1000. Id be looking to offer 75% of asking price-its a buyers market.

You also need to find out the yearly management fees, because once you purchase, you are committed to these yearly fees.

My fees for my 2 bed/2 bath in Tenerife (high season) are around £300 per week owned, ie £600 odds + due every January (when most folk are skint:rolleyes: )

It works for me because I can trade 1 for 2 via www.dialanexchange.com

costapkt · 16 November 2009 at 8:25AM

If you take a look at any Timeshare related forums more people are wanting out. One of the reasons is the ever increasing maintenance costs(this is like a yearly membership fee ) Once you sign up and you find it is not for you or you cannot afford the fees anymore, trying to get out can be very difficult. Hence the low prices on E-Bay etc. Also some people cannot get the weeks they want ie. school holidays. At a presentation the sales people will tell you what you want to hear. It all sounds so good. But do not be fooled. As soon as a Timeshare salesperson opens their mouth the lies pour out.
Stick to booking your own holidays going when and where you want.
The Timeshare industry is rife with scammers and conmen.
And if it sounds to good to be true, be very wary.

wit40iwtwan · 16 November 2009 at 8:33AM

We own timeshare and are loving it - everything that is being said about the maintenance fee is right - but in my opinion I simply include this in my annual budget for holidays. One thing to bear in mind is when you reach retirement age - you still OWN the timeshare and usually for something like a 90 year lease so consider this too - we know that in time it will be transferred to my partners son's name and then it becomes his baby but please do not buy timeshare if you feel you may want to sell it in a few years time - you will not make money. It is a good way to enjoy good quality holidays. We use RCI and decide our holiday based on customer ratings and airfare to get to the destination. We recently converted to the points system as we were exchanging our week worth 96000 points for places worth only 30000! For us it works and the prospect of spending a couple of months on holiday in the future is something we really enjoy! If you love to holiday then you can enjoy new place but keep your eyes open and when dealing with any salesman remember they are not your friend - they will be in it to make commission.... ask as many questions as you want and go with a reputable company!

costapkt · 16 November 2009 at 8:58AM

It might work for some people, but for many it does not. They have been suckered in by the sales person and the glossy presentation. The trouble is sometimes people do not know the RIGHT questions to ask. The sales person always has the RIGHT answer to the EXPECTED question.

I f you feel tempted do a lot of research on the company (OP never mentioned what firm ) and Timeshare .
TimeshareTalk Forums is a good site telling the good and the BAD. Also try the TCA ( Timeshare Consumers Association ) all the scams and cons are told on there.

After all that another consideration is the cost. You have your initial outlay of thousands, then your yearly fees and then your travelling costs.
Still feel it is a good deal ?

dzug1 · 16 November 2009 at 10:26AM

wit40iwtwan wrote: »

One thing to bear in mind is when you reach retirement age - you still OWN the timeshare and usually for something like a 90 year lease so consider this too - we know that in time it will be transferred to my partners son's name and then it becomes his baby

Which he may in time come to curse you for - saddled with maintenance fees for life (or end of the lease) himself on something that in resale terms may have negative value.

costapkt · 16 November 2009 at 12:12PM

Could certainly be your worst nightmare being 'left' a Timeshare. Who needs friends like that ?!!!!!!

mobby-2554 · 16 November 2009 at 7:43PM

I own a timeshare & we use it every year but maintenance fees have doubled since I 1st bought it.
We've had a lot of good holidays there & made some really great friends we see every time we go.

I know if I tried to sell it now I wouldn't get a lot for it but luckily I bought a resale.

I would not recommend anyone buying one now you have no say on maintenance fees, when they go up which seems to be every year now you are just expeted to pay it.

One year they decided to revamp all the apts/complex
& made us pay double maintenance fees to cover the costs!

Stay well clear!!!

budgetflyer · 17 November 2009 at 8:07AM

If theres a place you really like, then it could be very worthwhile.Lots of people go to the same resort,same hotel 2 or 3 times a year, every year.
Take Sheraton Vistana Resort, Orlando.
To rent a 2 bed villa beteen $2000 per week (easter) to $1550 (July) so management fees of $1000 make it a very good buy, plus if you register it with www.Dialanexchange.com (you dont have to bank it-just register it!) then you have access to their bonus week inventory with extra weeks avail from £99.

Most people I meet who own timeshare are happy with it, enjoying all the benefits of ownership. Those who don't tend to have either been missold, or their circumstances have changed and can no longer afford it.

Those 2 negative conditions apply to most purchases - if I go into a car showroomd enticed by a £99 deposit + £99 a month new car + walk out with a £400 a month over 3 years, Audi soft top with an £8K final payment , once the gloss has worn off, or I lose my job, I am going to resent my "burden"

The value of Timeshare is in buying EXACTLY where you want at a price you are happy with.

costapkt · 17 November 2009 at 9:03AM

At least with buying a car you have something to look at and use when YOU want, plus it is easier to get some money back.
Good luck if Timeshare works for you. But many people have had bad deals by being missold (me included ) and their circumstances changing. With some of the large joining fees ten grand or more + finance charges if paying that way, plus up to a 1000 a year or more maintenance fees (some can be cheaper ) If you kept this money you would be able to afford to go to to some of these' exclusive ' places anyway.

In my experience do not be tempted by this scam ridden industry.

Timeshare

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