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Timeshare Debt: Does It Make Sense?

Timeshare Debt

April 29, 2019 – by Primo Management Group

Timeshare Debt

Should you take on timeshare debt to buy in?

With the average cost of a timeshare topping $20,000 last year, more and more people are taking on timeshare debt to buy in. But does that make long-term financial sense? Let’s look at the risks and alternatives below.

It’s Not A Good Deal

It makes sense to finance some purchases. For example, financing a home is one of the top ways that people begin to build wealth. It also makes sense in some cases to finance home repairs, a vehicle, or educational expenses. In these cases, you’re getting financing for something of value that you would have needed anyway or that will allow you to make more money in the future. Unfortunately, timeshares don’t meet any of those criteria.

First, timeshares don’t increase in value over time. In fact, they depreciate immediately. And many have almost no resale value. Which also means timeshares don’t help you to earn money in the future, the way education might. And finally, unlike shelter or a vehicle, timeshares are not a necessity. You can live without a vacation or you can take any number of vacations for less than $20,000.

Consequences of Timeshare Debt

High Interest Rates

When buying a house or a car, you can shop around and find low-interest rates. However, timeshare financing tends to have high-interest rates. You’ll pay the most if you get financing through your developer or put your timeshare on a credit card. But even personal loans and home equity loans will cost you. And given the high cost of timeshares, it’s difficult to find a compelling reason to spend even more paying interest.

Credit Damage

Timeshare debt can also hurt your credit score. Your resort will report late payments and those late payments will lower your credit score. In fact, if you have good credit, a missed payment has a greater impact on your score than if your credit is already poor. And if you can’t pay your loan and go into foreclosure, you’ll face serious consequences no matter what.

Is There Another Way?

The fact is, there is no need to take on debt to buy a timeshare. There are countless ways to invest in a vacation without financing a timeshare. If you really want to spend your vacation at a timeshare resort, you can easily rent one and skip the up-front costs and ongoing fees. Plus, you’ll retain the freedom to vacation wherever you want, whenever you want.

If it’s too late and you’re stuck in a timeshare you can no longer afford, we can help. Contact us today for a free, no-risk consultation.

(Image by mastersenaiper from Pixabay)


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Relieve Yourself of the Unwanted Timeshare Burden

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.