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Timeshare Buyer’s Remorse

timeshare buyer's remorse

May 17, 2019 – by Primo Management Group

timeshare buyer's remorse

Find out what causes timeshare buyer’s remorse before you buy!

Timeshare buyer’s remorse is a common problem. In fact, every day, we talk to people who regret their timeshare purchase. So, what causes timeshare buyer’s remorse and what can you do about it?

Poor Lifestyle Fit

Poor lifestyle fit is a common factor in timeshare buyer’s remorse. A resort vacation might be fun once or even twice. That’s why the sales reps sell to people enjoying that first vacation! But for many people, an annual vacation to the same resort year after year just doesn’t make sense. Over the long term, you may find that either you can’t afford this sort of vacation. Or that you don’t even enjoy it. And for others, they find themselves unable to take other vacations because they’re locked into their timeshare. And of course, your circumstances could change at any time. Health problems or other big life events like divorce may make your once perfect timeshare a mismatch.

False Promises

False promises are another reason people are unhappy with their timeshare purchase. During the sales process, sales reps tell you a lot of things. And although in a perfect world, they’d all be true, in reality, that’s not always the case. Many owners regret their purchase when they discover the truth. Common false promises include overstating reservation availability, misrepresenting the quality and size of the unit, and not disclosing additional fees. These and other factors make for sad owners.

Impulse Buys

We’ve all made hasty purchases in the heat of the moment. Hopefully, your impulse buy was small and returnable. But many timeshare purchases are impulse buys. After all, sales reps approach you when you’re on vacation and your guard is down. Then they typically use high-pressure sales techniques to get you to buy right then and there. And unfortunately, timeshare purchases are anything but small and returnable. In fact, timeshares average over $20,000 and many contracts have a perpetuity clause, which means they never end.

Increasing Fees

Maintenance fees are a very common source of dissatisfaction. For some people, the fees are too high from the beginning. In some cases, maintenance fees may be higher than the price of renting the same unit for the week. Of course, you didn’t know that before you bought. For other people, the fees increase too steeply over time. Like everything, maintenance fees tend to go up every year. But some HOAs raise fees faster than the rate of inflation. And that means consumers have a hard time keeping up. Finally, for some owners, the value of the timeshare experience isn’t worth the fees. For example, maybe they aren’t able to get to their timeshare. Or maybe the resort itself is poorly maintained. No matter what the cause, paying fees that are too high for a unit you don’t want just doesn’t make sense.

What to do About Timeshare Buyer’s Remorse

If you’re regretting your timeshare purchase, you have a few options.

Rescission

The right of rescission allows you to cancel your timeshare contract immediately after purchase for any reason. However, the rescission period is typically brief. The length varies from state to state but is usually 5-10 days. However, if you’re still in your rescission period, you can simply cancel your contract in writing.

Resale

You can also try to sell your timeshare on the secondary market. Of course, you probably won’t get anything close to your purchase price, but at least you won’t be on the hook for maintenance fees on your unwanted timeshare. But that’s assuming you can find a buyer. Unfortunately, many more people are selling than buying.

Timeshare Exit

For many people, timeshare exit is the best choice. During this process, you work with your timeshare company to get out of your contract. The process itself is complicated and can take a while. That’s why people choose a timeshare exit partner like Primo Management Group to help them. Our consumer advocates work with your timeshare company on your behalf to get you out. Guaranteed. Contact us for a free consultation to see how we can help you.

(Image by Michelle Maria from Pixabay)

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Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

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. Let us help you. 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, the resorts are loath to give back the money they’ve already taken for timeshares.

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 go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. 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 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 will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are 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.