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Timeshare Pros and Cons

timeshare pros and cons

March 20, 2019 – by Primo Management Group

timeshare pros and cons

Learn about timeshare pros and cons before you buy.

The timeshare industry paints a beautiful picture of vacation ownership, but what are the real timeshare pros and cons?

Pros

“Guaranteed” Vacations

If you buy a fixed-week deeded or Right to Use (RTU) timeshare, then you have a yearly vacation to count on for the length of your contract. Well, unless a natural disaster hits. Or you fall behind on your maintenance fees.

“Free” Vacations

The prospect of free vacations is alluring. However, those vacations are only “free” after you pay the initial fee. Plus, with maintenance fees to pay every year, your “free” vacation might end up costing just as much as a non-timeshare vacation. In fact, Consumer Reports calculates that timeshares only become a good deal after 13 years on average.

Cons

If you look at our timeshare pros and cons, you’ll notice the cons list is much longer. Although there are people out there who love their timeshares, many, many others are unhappy. Sure, people have fun at timeshares every day, but they could have the same fun without owning a timeshare. Here are our top timeshare cons.

High Buy-In Costs

The average timeshare costs $22,180. And if you finance that cost, go ahead and add interest charges to that. The high cost to get started is a major problem with timeshares.

Maintenance Fees

On top of the initial cost of a timeshare, all owners pay annual maintenance fees. These fees cover the basic maintenance, housekeeping, and upkeep. They average around $1000 right now and go up every year. It’s easy to see why owners would be charged for housekeeping and landscaping, but these fees are mandatory whether you use your timeshare or not. And if you miss your payments, you won’t be able to access your timeshare. Over time, many owners have difficulty with maintenance fees. In fact, maintenance fees are one of the top timeshare exit reasons.

Not An Investment

Although timeshare sales reps may tell you otherwise, timeshares are not investments. They don’t increase in value over time. They don’t offer any tax or other financial benefits. And in many cases, they turn out to be a liability.

Long-Term Contracts

Timeshare contracts last anywhere from 20 years to forever. Although a timeshare might suit your lifestyle today, tomorrow may be a different story. Changing financial circumstances might make it difficult or impossible to make your payments. Or health concerns may put vacations on the back-burner.

It’s Hard To Get Out

Perhaps the biggest timeshare con is how hard it is to get out. The timeshare resale market is full of people desperate to get rid of their timeshares. And timeshare companies are fighting to make it even harder to sell. Plus, it’s very difficult to exit a timeshare contract once you’re in. However, it’s not impossible. At Primo Management Group, we help people exit their unwanted timeshares every day. So, contact us to see how we can help you get out.

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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. 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.