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Timeshare Errors Even Smart Buyers Make

timeshare errors

February 17, 2019 – by Primo Management Group

timeshare errors

Beware of these timeshare errors that can cost you thousands!

If you’re interested in buying a timeshare, watch out for these timeshare errors. Even smart buyers make these mistakes all the time. And, unfortunately, these timeshare errors can cost you a lot of money. Here’s what to watch out for.

Not Getting Everything in Writing

Sales reps say a lot of things in timeshare presentations. They are very skilled at telling you what you want to hear. So many consumers believe the hype. However, nothing they say is binding. And unfortunately, you don’t find out until after the ink on the contract is dry, when it’s too late. Instead, insist on getting everything in writing. That way, you make sure you get what you pay for.

Paying the First Price

Timeshare sales reps are trying to make as much money as possible, so they’ll definitely give you the highest price first and stick to it. However, in the end, if they don’t close the sale, they don’t make anything. This gives you leverage. There’s almost always room to deal. Go ahead and go for the lower price. After all, you can probably buy a timeshare on the resale market for pennies on the dollar. And the rep knows it.

Using Contractor Financing

Because the average cost of a timeshare is over $20,000, most buyers need financing to make their purchase. Luckily, you have many timeshare options. You can take out a personal loan, a contractor loan, a home equity loan, or use a credit card. However, one of the most expensive options is Contractor Financing. This is the financing type the sales reps are likely to suggest. First, it keeps things in-house which is easy for them. And secondly, chances of getting approval are high. However, interest rates are also high. So it pays to call around and find a better rate.

Counting on the Resale Market

Timeshare contracts last a long time–a lifetime in some cases. Unfortunately, you many not want your timeshare forever. Or you have financial hardships that keep you from paying your maintenance fees. So, you might think selling your timeshare is the answer. But you’ll soon find out that the resale market is flooded with available units at rock bottom prices. Many prospective sellers end up right where they started: stuck in a timeshare that no longer suits them.

Instead of waiting for a seller who isn’t coming, consider getting a timeshare exit partner like Primo Management Group. We can help you get out of your timeshare safely and forever. In fact, we guarantee it. Contact us for a free, no-risk consultation today.

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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.