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10 reasons not to buy timeshares

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  • #31
    6. They will send you to collections too quickly. My husband and I moved twice after purchasing the timeshare and we changed our address with RCI but not with the actual timeshare. We didn’t know when we were supposed to pay the maintenance fee so it was past due since they sent us a letter to our old address. All of sudden I receive a collections letter and I called my timeshare. I asked them why I hadn’t received a phone call from them and I was informed that that is why they hired a collection agency, so they wouldn’t have to make phone calls. I understand I made a mistake, but come on, I am paying for an expensive time share here, shouldn’t their customer service be a little bit more cooperative? The bank where I am paying off my car has called me a couple of times, but my timeshare can’t.
    Are you kidding me. I know the due date of every bill that comes into my household. She forgot her timeshare and she noted she has forgott about her car payment several times.
    I lost all respect for the article as a whole when I read that.

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    • #32
      Originally posted by Amanda
      OK, I am going to weigh in here with a newbie's perspective. My fiance and I just bought our first timeshare in August in Cabo. We knew going into in that there were maintenence fees, we paid with cash, and actually got a resale (that one was luck, the way it worked out). The one thing that I did not realize (or was not told is probably more accurate) was the trading aspect. Basically, I thought that wherever you want to go you can just trade in for it - so (1) I didn't realize that there was a whole waiting process (2) that there are not a whole lot of timeshares in certain places I am interested in going (like Italy) and (3) that it works better if you can be more flexible with dates.

      With that said, I still think we made the right choice. We bought a 2BR for 1 week in Cabo, and this first year of ownership, we are going back to our home resort for a week (smaller unit), spending another week in Cabo at a different resort; and going to Hawaii for 2 weeks. OK, I'm good, but I'm not so sure I could convince my fiance (husband in the future) to go on 4 weeks of vacation plus the local stuff we do for about 2 weeks (PA, DE trips etc) at full hotel prices...

      Plus, I think its important to note that if you dont utilize the trading aspect that often (although most of us seem to think its fun!) then, you avoid a good portion of the headaches associated with timesharing.. and we decided that we absolutely love where we bought, and would be happy going back there year after year (especially when we start to have small children - familiar will be better...)

      OK, back to doing tax work ;-) (this is so much more fun!)
      Good for you! Sounds like you have it all worked out.
      Syd

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      • #33
        Why is it that I've read all the reasons not to buy a timeshare, and I agree with most of them. Yet......I still want to buy them. In fact, I've been looking on Ebay, for a great winter buy.........
        Angela

        If you change the way you look at things, the things you look at change.

        BTW, I'm still keeping track of how many times you annoy me.

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        • #34
          Timeshare salesman's 10 reasons NOT to buy....

          1) You hate to vacation. You don't care about creating memories that will last a lifetime.

          2) You are a workaholic and give your all of your vacations and weekends back to your boss every year.

          3) You love to let others take pleasure from the spoils of your hard work when you get nothing in return.

          4) You don't care about your loved ones enough to spend quality time with them once or twice per year.

          5) You don't care about your health.

          6) You don't deserve to relax in a vacation resort setting.

          7) You are too cheap to spend money on your family on what they need.

          8) You love wasting money and collecting non-deductable receipts.

          9) You are a loser for showing up to this presentation only for the free gift.

          10) If you or a loved one dies next week, you believe they can take their money with them.

          If the above describes you, you should not buy a timeshare. If they are not true about you or you want to change your life, just give me your credit card and I promise you will never forget this short time we had together today.
          My Rental Site
          My Resale Site

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          • #35
            Thanks for reminding me of why I'm still looking to buy a timeshare. I knew that there had to be a good reason....


            Originally posted by BocaBum99
            1) You hate to vacation. You don't care about creating memories that will last a lifetime.

            2) You are a workaholic and give your all of your vacations and weekends back to your boss every year.

            3) You love to let others take pleasure from the spoils of your hard work when you get nothing in return.

            4) You don't care about your loved ones enough to spend quality time with them once or twice per year.

            5) You don't care about your health.

            6) You don't deserve to relax in a vacation resort setting.

            7) You are too cheap to spend money on your family on what they need.

            8) You love wasting money and collecting non-deductable receipts.

            9) You are a loser for showing up to this presentation only for the free gift.

            10) If you or a loved one dies next week, you believe they can take their money with them.

            If the above describes you, you should not buy a timeshare. If they are not true about you or you want to change your life, just give me your credit card and I promise you will never forget this short time we had together today.
            Angela

            If you change the way you look at things, the things you look at change.

            BTW, I'm still keeping track of how many times you annoy me.

            Comment


            • #36
              You know, I thought the article was really completely reasonable. Let's look at the ten reasons again.

              1: If you can't plan in advance, and cannot be flexible about destination, you probably need to think twice about timesharing. Sounds about right to me.

              2: If you are dumb enough not to ask yourself whether you really *want* to go to Africa for your vacation, and instead just look at the number of "places", you probably need to think twice. Yep.

              3: If you are dumb enough not to read all the financial disclosures up front, and will later be surprised that things cost money, you probably need to think twice. Hard to argue this one.

              4: If you are dumb enough not to comparison shop and find out how the market values the piece of real property you are preparing to buy, you probably need to think twice. Yep.

              5: #4, once more, with feeling. Well, it is important, but does deserve to be mentioned twice.

              6: If you are so incompetent as to not be able to keep track of your own financial obligations, but need someone else to babysit you through paying your bills, perhaps you should think twice about timesharing.

              7: #3, once more, with feeling. (And, if this one still applies to you, you probably pay 25% on credit card balances, too.)

              8: If you either ignore the rules for booking your stay, or hope that they don't apply to you, you might be disappointed when you discover that the rules, in fact, do apply. (And, now that I re-read this, this is also really a variation of #1.)

              9: If you don't think to ask when the construction will be complete, despite driving past open construction sites in the resort on the way to the tour you are about to take, well, perhaps this property is not one you should consider owning.

              10: If you don't stop to think how much vacation you will need in the next several years, and are surprised that you didn't buy the right amount, perhaps you shouldn't be all that surprised.

              Really, with the exception of point #1, all of these boil down to: "If you're a moron, it's your own fault when you do something stupid." Point #1 is pretty important---timesharing works best when you can either plan well ahead of a trip, OR you can be very flexible about where you are willing to go.

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              • #37
                What a great list that you and Boca posted here. This is so important to think about before making a decision. I hope that newbies read this title before they go on a timeshare presentation.

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