Tag Archives: timeshare facts

Are Timeshares a Scam?

Consumers are making timeshare purchases everyday. 8 out of 10 times, these purchases are based on false, misleading statements made by the sale representative. If you take an in-depth look at what your actually getting for your hard earned money, you will find out you are getting ripped off. Sales representatives generally paint a grand picture of you and your family vacationing anywhere, anytime, at a fraction of the cost of an average vacation. None of that is true! The average annual timeshare for a family of 4 costs between $20,000 – $30,000 which is then financed for 120 months, to make it seem more affordable. The interest rate is between 12-18%. If you do the math, it will cost you twice as much for the timeshare over that 10-year period. This means $20,000 becomes $40,000 and $30,000 becomes $60,000!

Does this seem like a good economical way to travel? Are you saving money? NO, YOU ARE NOT! According to those numbers, your average yearly vacation is costing you between $3,000-$6,000 and that doesn’t include the annual maintenance and taxes! The truth is, it is much cheaper and easier to travel through discount travel companies, a travel agent, or yourself.

Timeshares are a scam it is that simple. They are costing consumers billions of dollars every year and these same consumers are limited to unwanted destinations. If you bought a timeshare and want out call Timeshare-Answers today and learn the truth about your purchase.

Timeshares

What are timeshares? How do you use them? How much do they cost? Should I purchase a timeshare? These are some of the questions consumers are asking themselves everyday when they see a discount vacation being offered with a 90-minute timeshare presentation included with the trip.

“What are timeshares?” Wikipedia defines a timeshare as follows:” A timeshare is a property with a particular form of ownership or use rights. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time (typically one week, and almost always the same time every year) in which they may use the property. Units may be on a partial ownership, lease, or “right to use” basis, in which the sharer holds no claim to ownership of the property.”

“How to use a timeshare?” There is no easy answer to this question. Timeshares have evolved in the past ten years and there are many types of ownerships. There are every year timeshares, every other year, and even tri-annual usage. You have exchange companies that you can use if you are a member (for additional fees of course) and then there are points programs, weekend programs, and clubs.

“How much do timeshares cost?” This is another question that has a great number of variables. Some of the clubs cost just a few thousand dollars and timeshare that are hundreds of thousands of dollars for multiple week programs.

The last but most important question is: “Should I purchase a timeshare?” This is the easiest answer of them all…ABSOLUTELY NOT!! You can find discount vacation packages that will allow you to travel for a fraction of the cost of owning a timeshare. Plus you will be able to travel when and where you want, to popular destinations, which you will find difficult to do with a timeshare. For instance if you own a timeshare and want to exchange it to go to NYC, there is only one property there and it is never available, but you can get online and get hundreds of accommodations all over the city for inexpensive rates. This is just one of many examples of the downside of owning a timeshare. The answers to these questions and many others can be found on timeshare-answes.com or call Timeshare-Answers toll free 888-722-2648.