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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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