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Timeshare Expenses: Calculating the True Cost

timeshare expenses

March 22, 2019 – by Primo Management Group

timeshare expenses

Even after you’ve paid the purchase price, timeshare expenses keep on coming.

Timeshare owners face rising timeshare expenses every day. And we’re not just talking about the average $22,180 purchase price. Timeshare expenses go way beyond what they cost to buy. In fact, the true cost of a timeshare is much higher than advertised. Here’s what goes into timeshare expenses.

Maintenance Fees

Maintenance fees are the most common timeshare expenses. These annual fees cover the basic day-to-day upkeep of the resort. Things like housekeeping and landscaping and other minor repairs. The timeshare Board of Directors sets fees based on their own priorities. And like pretty much everything else in the world, maintenance fees increase each year. Unfortunately, owners have to pay the fees even if they can’t use their timeshare. And in some cases, the maintenance fees are higher than the cost of renting the same property. No wonder owners get frustrated!

Exchange Fees

Although some people love going back to the same resort year after year, many consumers prefer variety. So, the timeshare market created products to add flexibility to timeshare ownership. Some timeshares give you the ability to stay at other properties or to exchange intervals. However, they almost always charge for the privilege. Typically, there’s a buy-in cost in order to have access to the exchange. And then if you actually do exchange your location or interval, you pay another fee when you make the trade. Hidden fees like these drive consumers crazy. Nobody wants to pay for something they’ve already purchased! Plus, fees are an easy revenue stream for developers, so they get pretty creative about adding them. And they can charge whatever they want.

Travel Expenses

You probably don’t live next door to your timeshare. And that means you pay for travel every time you visit your timeshare. So, if you fly, you’re paying for travel to and from the airport, plus the airfare itself. Don’t forget the $4 bottle of water at the airport gift shop. And if you’re driving, you pay for gas, tolls, and maybe even a hotel room on the road. All of this adds up. If you bought your timeshare dreaming of free vacations, well, you’re probably disappointed.

Timeshare Stress

But not all timeshare expenses are about money. Unfortunately, many timeshare owners find themselves in timeshares that no longer work for them. Maybe they’re paying for a timeshare they can’t use. Or maybe they can no longer afford the costs. Those are stressful problems that invade all parts of your life. Nobody should have to live like that.

Are timeshare expenses adding up for you and your family? Or do the cons of ownership outweigh the pros? If so, we can help. Our consumer advocates specialize in getting people like you out of their unwanted timeshares. Contact us today for a free consultation to see what we can do for you.

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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.