what to do to get rid our new timeshare

[dqm Junior Member Find all posts View Profile Close dqm]

We just got our timeshare last month, trying to cancel it at 11 days, and they wont let me (10days in TN) during the high pressure sale and show us the rooms how they look like, I have no idea showing the model rooms they call it on-site inspection. I felt so bad I'm just learning about it, and it so easy to sign the contract and is not easy to get rid off, and is not easy to sell, I got scams already saying they can sell it quickly and we pay up front fee. How many more scams I'm going to deal with and lies, I trust Americans, and I cannot believe is happening in such a good country. So anyone can help me?

[philsfan Administrator Find all posts View Profile Close philsfan]

Your unit will have the same type of furnishings and supplies that you saw on your tour. You can't get out of it and you won't be able to sell it for anything close to what you paid if you bought from the developer. You might as well try to make the best of it. Did you buy at a resort you like in a season or a specific week that you want to visit?

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

First, I know there's all kinds of scary information on the Internet, so try not to panic. While it's true that you can't resell your TimeShare for what you paid (or, likely, for much at all), hopefully you can use it for vacations and that a lot of the "dream vacation stuff" the salespeople told you will turn out to be true. Buying a timeshare from the developer is not the cheapest way to go about it, but you can still have great vacations with a TS.

If your salesperson convinced you to buy the timeshare saying you could make the money back renting it, that's another story. But hopefully you bought in expecting to use it for vacations and using a sufficient vacation budget; the people who get in real trouble are the ones who spent more than they can afford or who hit an unexpected financial bump. If you tackle the situation with, "How can I make the best use of this?" rather than resenting it, if you're flexible and willing to learn the ins and outs of timeshares, you should be able to get good use of it.

Even outside of Timeshares, the amount people pay for the same vacations varies enormously; people who go to Walt Disney World paying rack rate and getting Disney's Dining Deal can end up spending two or three times what people who look for the deals spend on the exact same thing. For that matter, some people trading into Disney resorts using RCI can spend as little as a tenth of what people pay rack rate for the same unit at the same time.

For the record, I do not get deals like that. But I can easily find deals where I'm paying a fourth of what people who are not TS owners do through TripAdvisor or other discount hotel searches. While you may have spent more than you wanted to up front, keep in mind that, the more you know about timeshares, and the more you use them, the more you can do with them. Most people who get into timeshares bought their first timeshare from the developer; they also usually choose to buy resale after that, but that doesn't necessarily mean they wasted their money the first time. That first purchase led them to some terrific vacations. Hopefully that'll be your experience as well.

[dqm Junior Member Find all posts View Profile Close dqm]

Your unit will have the same type of furnishings and supplies that you saw on your tour. You can't get out of it and you won't be able to sell it for anything close to what you paid if you bought from the developer. You might as well try to make the best of it. Did you buy at a resort you like in a season or a specific week that you want to visit?

we got it in the resort, I guess that from the developer, I have no knowledge about timeshare, and I cant believe we got into this. all I know is we can get 1 week per year/ I'm thinking the maintenance fee is too high, now we realized we cannot afford it plus our monthly bills. and being in military we move a lot, I don't think we can come every year, I'm just so frustrated

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

There is always the nuclear option of declaring bankruptcy if your financial situation is not good. Other than that you are pretty much stuck with it and your best bet would be to hang around here and learn how to exchange and work it to your best benefit.

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

Post to the regional sub-board here that fits your resort location, and maybe somewhere at TUG, with the name of your resort and see if you can find someone who owns at the same resort to help walk you through the ins and outs of that particular system. And do a search for a yahoo group or some other discussion system for the resort -- Worldmark has its own board for owners, but yahoo groups are much more common. Unless you want to take tonyg's "nuclear option," if you can't use the week yourself you should look into trying to rent it to friends or family or someone and try to recoup at least some of the money. If you're still paying for it, you likely can't charge as much as it costs you, but maybe you can at least cover your maintenance fees. Some resorts you can do better than that -- some people can actually make a profit renting out DVC, for instance -- but most of the time all you'll get by renting is maintenance fees at best.