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Hidden Timeshare Fees: What You Need To Know

Hidden Timeshare Fees

November 30, 2018 – by Primo Management Group

Hidden Timeshare Fees

Don’t fall prey to hidden timeshare fees.

When you buy a timeshare, you pay a hefty initial price—on average, about $21,000 in 2017. You may also be paying finance charges and other fees associated with the sale. And you’re definitely going to be paying maintenance fees. But for some timeshare owners, those are just the tip of the iceberg. Submerged beneath the water lurks an array of hidden timeshare fees just waiting to be charged. In part one of our series on timeshare fees, we explored those more common and predictable fees. Here we’ll explore the world of hidden timeshare fees so you won’t find yourself sinking.

Program Fees

Program fees may go by other names depending on your company, but this is an annual fee your company charges you for being a part of their exchange program. So, if you want to be able to trade or exchange for a resort outside of your home resort, you’ll pay this fee. And like so many timeshare fees, programs fees increase every year.

Exchange Fees

When you paid your program fee, you got the privilege of being able to make exchanges. When you make the trade or exchange, you will likely be charged an exchange fee.

Conversion Fees

If you have a deeded timeshare, your resort may push you to convert to a points-based timeshare. First, you DO NOT have to convert, no matter what they say. However, if you do choose to convert, you will be charged a conversion fee to change from a deeded timeshare to a points-based timeshare.

Upgrade Fees

If you choose to upgrade to a better points plan, better week, or better unit, be ready to pay your upgrade fee—on top of the additional cost of the new plan, week, or unit. Upgrades often happen when owners find themselves unable to reserve the time or resorts they’re interested in because their points are insufficient. Anxious to get some value out of the money they’ve spent, they choose to pay even more money and upgrade. And the upgrade fee is the price they pay on top of what they’re already paying.

Rollover Fees

Let’s say you’re lucky enough to have extra points leftover. Hooray, although that may mean you didn’t get to take a vacation this year, in which case, boo. But the really bad news is that in many points-based timeshares, those points eventually expire. During the sales presentation you did ask about what happened to unused points and they said, hey, no problem. You can rollover unused points. What they may not have mentioned is that typically, you can rollover a certain number of unused points for a fee. So, now you pay to use the points you already owned.

All-Inclusive Fees

All-Inclusive timeshares wraps food and drinks and sometimes other resort amenities all in one package. And the prices often seem to be quite low. Unfortunately, those prices don’t include the daily all-inclusive fees. Daily? Yes, all-inclusive fees are per day and per person. The actual amounts vary by resort and time of year, but they can easily reach $150 at peak season. Suddenly that cheap vacation doesn’t seem so cheap anymore.

If all these hidden timeshare fees are adding up for you, it may be time for you to think about timeshare cancellation. We work with clients in your situation every day to help them get out of situations that just don’t work for them. Contact us for a free consultation today.

(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.