Are People That Are Good At Math Good At Sales Timeshare Buyer’s Remorse – Costly Mistakes When Buying a Timeshare on Vacation

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Timeshare Buyer’s Remorse – Costly Mistakes When Buying a Timeshare on Vacation

Every year, people like you and I take a much-needed vacation to beautiful vacation destinations around the world. We all seek change in our daily lives in places that allow us to find peace and quiet with enough exciting activities to lift our spirits and bring joy to our lives.

Your dream vacation can be a financial nightmare if you fall prey to buying an expensive vacation timeshare!

During these glorious breaks, many of us encounter the main street vendors and hotel lobby kiosks offering free or low-cost sporting adventures, theater tickets or the like. The deals are real and can be a lot of fun. Who wouldn’t want to take a helicopter ride to a remote waterfall in Maui for $29? But beware, there is a catch!

In exchange for these deals, you have to give up 2-6 hours of your prime vacation time to visit a timeshare resort and participate in a timeshare sales pitch set up with fun heartstring-tugging, champagne toasts and a not so obvious social pressure. . Your experience is choreographed from the moment you arrive so that you feel thrilled to have paid $20,000 to $50,000 or more for the right to spend a week or two a year of a lifetime at their glorious resort , not to mention all the added features and benefits that come in to seal the deal.

In deference to Winston Churchill, Never, Never, Never, Never, Never, Never buy a Retail timeshare during one of these deals! Go ahead and partake in their free or low-cost bribes to get into their pitch, but I implore you to NEVER buy a timeshare from Vacation Retail.

A real life example of a friend who didn’t take my advice and lost $19,000!

My friend, let’s call him Keith to protect his true identity, and his family of four headed south to Florida for a well-deserved vacation near a well-known family entertainment resort. Keith and his wife, keen to give their kids a good time, stopped by their hotel’s activity center and were treated to a great deal on prime local activity parks that the kids will really enjoy . They agreed to the “2 hour presentation” the next day.

You know the story; they bought the pool view timeshare at a very nice local resort. Excited, they were already planning their visit next year and all the things they would do again while enjoying their stay at this fabulous resort.

Now Keith knew he had several timeshares and upon returning home he quickly informs me about his timeshare purchase. My first words to Keith were, “If you do nothing else, I never ask that you use the grace period you have by law and cancel your timeshare purchase today, right now in fact, please , please, please!” In our discussion, I found out that Keith paid cash for the timeshare (from an inheritance) and he and his family still had this darling focusing on all the joy his 25,000 retail purchase would bring them. %2B dollars. And they got the pool view unit!

Suffice it to say, Keith wasn’t listening well when I explained how I was sure I could find him a similar timeshare to buy, if not the same timeshare complex, for pennies on the dollar. Keith at least agreed to mention our conversation with his wife that night, but I knew he had bought the choreographed presentation hook, line and feather.

That night I did some online research and within 10 minutes I found a resale unit in the same complex for about $6,000. Do the math. $25,000 minus $6,000 equals a cash savings of $19,000. Keith could buy 3 more weeks at the same resort and have a whole month for his $25,000. So I emailed the details to Keith and to my dismay but no surprise I got the reply: “Well we talked about it and I’m sure you found a good deal but the family was really excited and we had the view of the pool, and we had the money, so we’ll stick with what we bought. Thanks for your help anyway.”

No amount of logic was going to change Keith’s emotional decision. With a little more research, I’m sure I could have found it in the same or similar complex for $2,000 or $3,000. Sad but true, I lost another battle. You see this scenario played out over and over every day and I feel the millions of dollars being spent on retail timeshare purchases when you can only buy equal or comparable timeshare units down the street or online for pennies on the dollar. .

Buyer’s remorse is your best chance to save thousands of dollars.  

Within a couple of years, circumstances change for a high percentage of timeshare owners. These changes cause these owners to re-evaluate their need for a timeshare, especially if they financed the retail cost. They soon discover that the glorious timeshare they bought 2 years ago for say $25,000 can now only be sold for a maximum of $10,000 if they are very lucky. So if they did get financed, they’re upside down, owing more than they could get for the timeshare (sound familiar to the circumstances of the subprime mortgage meltdown?).

Baffled by this reality, a high percentage of these upside-down timeshare owners abandon their timeshare obligations and most end up in the timeshare resale market, for sale by third-party lenders, real estate brokers, and agents. hence the opportunity for you and me. to buy these same great timeshare properties for pennies on the dollar.

I know how to buy timeshares on the resale market because that’s what I’ve done several times. The islands of Maui, Hawaii and Kauai as well as the mainland locations of Scottsdale, Arizona, Horseshoe Valley, Canada and other great locations were NOT purchased at retail. In fact, I’ve bought them at $2,000 or less and as low as $99. This is Pennies on the Dollar! Some will tell you that timeshares are a poor investment. I have to agree that they are not an investment like buying real estate. As a vacation tool, timeshares are a great investment if, and only if, you buy them for pennies on the dollar.

Save your money and buy from the resale market!

Make wise decisions as you search for the ultimate holiday joys in fabulous locations around the world. Pack away your emotions about time sharing during the holidays and keep your wallet closed. Wait until you get home to look for opportunities to buy identical or substantially similar vacation properties on the resale market, which will save you a lot of money or buy even more timeshares. Never, never, never, never, never, never, ever buy a retail timeshare during one of these sales pitches while on what should be a fun vacation!

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