• February
    17
    2019
  • 3 min read

Timeshare Errors Even Smart Buyers Make

timeshare errors

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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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