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4 Timeshare Mistakes That Can Cost You Thousands

4 Timeshare Mistakes

November 2, 2018 – by Primo Management Group

4 Timeshare Mistakes

Save yourself thousands of dollars by avoiding these costly timeshare mistakes.

In our business, we see so many people affected by the high-pressure and misleading sales tactics of timeshare reps. They convince consumers to buy timeshares that end up costing them thousands. Be on the lookout for these timeshare mistakes and save yourself money, time, and headaches.

Attending a Timeshare Presentation

This is often the first of your timeshare mistakes. You get lured in by the “free” gift “just” for listening to a 90-minute presentation with no intention of buying a timeshare. Sounds easy, right? Just don’t buy a timeshare. But it turns out, it’s not that easy. After all, these sales reps are very good at what they do. Their whole job is to get you to sign the contract. And they aren’t above using any means necessary to get you to do just that. It’s no wonder so many people end up buying what they don’t want or need. We think the best way not to fall for a timeshare presentation is not to attend one.

Buying on Impulse

We’ve all bought things on impulse, but the damage is usually small. You buy a shirt you don’t need or a tool you can’t use because it looks good in the store. But once you get home, you realize your mistake. You go back to the store and return it. Unfortunately, with a timeshare it’s not that simple. Not only is it very difficult to “return” a timeshare, you’ll also be paying for it forever in the form of maintenance fees. The bottom line is that a timeshare purchase is too big for a snap decision. If buying a timeshare is a good idea today (and that’s a big if), then it will still be a good idea tomorrow.

Not Doing Your Research

One of the reasons timeshare reps are so focused on closing the deal today is they know that if given the chance, you’ll check out their company and their claims. And once you do that, you might not want to sign that contract. We recommend always Googling the company and checking for reviews. Also check them out on the Business Consumer Alliance and Timeshare Users Group.

After you check them out, if the company seems like one you’d like to work with, then continue and verify any claims the reps made during the presentation. Although most states prohibit sales representatives from lying during the presentations, it still happens all the time. Can you really use those vacation club points anywhere? Is there an extra fee? (There’s always an extra fee.) Can you really rent out your unit for your week if you can’t make it? And what’s the fee for that? The more you know, the more of an informed decision you can make.

Not Taking Advantage of the Rescission Period

If you do make one of the timeshare mistakes we’ve mentioned, you can save yourself from harm if you act within the rescission period. That’s the cooling-off period after the contract is signed during which time you can cancel your contract FOR ANY REASON. The length of this period varies depending on your timeshare location. Unfortunately, many consumers don’t even know about the rescission period (because the rep probably won’t tell you about it) and don’t cancel their contract in time. Or they do know about it but are told by the reps that they signed away their rights. But the truth is, you can’t sign away your right of rescission.

However, exerting your right can be difficult. Typically, you must send notice in writing to a specific address. And if you’re on vacation, you probably want to relax and not worry about contracts. Luckily, you can always get help from reputable consumer advocates like Primo Management Group.

What if you already made one (or more) of these timeshare mistakes and now own an unwanted timeshare? Well, that’s where we come in. We help people just like you exit their timeshares and get back to living their lives. Contact us today for a free consultation to see what we can do for you.

(Image Source: Pixabay)

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Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. If your timeshare is free and clear with no mortgage, then the process may only take 3-9 months.

Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, timeshares are loath to give back the money they’ve already taken.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We go above and beyond for our customers by helping you to protect your credit and even repair your credit if needed. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client is assigned a case manager whose job is to keep you in the loop throughout the entire cancellation process. Your case manager is always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.