A few weeks ago I was at a shopping mall, and there was a promotion booth set up for a timeshare company. Not knowing anything about timeshares I went over to inquire about it.
After a few minutes of listening to the sales pitch, the concept did not sound good to me. I asked several questions in the lines of the practicality, convenience, and financial investment of being a timeshare owner. I did not get any good meaningful answers that would make timeshares sound beneficial for me. I was told there are monthly maintenance fees, on top of the mortgage, to pay for upkeep of the grounds, for something I would only use a week every year.
I asked the timeshare salesperson "why would I want to buy a timeshare and be stuck in a contract to pay monthly fees, if I could just use a hotel exactly when and where I want to vacation?"
Salesperson answered "because you have to book a hotel, and hope there is an opening when and where you want to vacation."
I said "well, if one hotel is booked I could just call another hotel in the area. Also, are you telling me that I am guaranteed a timeshare slot whenever and wherever in the world I want to vacation?"
Salesperson "we cannot guarantee that a timeshare will be available at any given date or location, or that a timeshare exists where you want to vacation, but we would conveniently call you and let you know when a time slot fits your requirement."
My head was spinning now, and I replied "so, after making a large down payment I would pay monthly maintenance fees, a mortgage payment, and I am not guaranteed that I can use the timeshare exactly when and where I want or need? I have to limit myself to places where you have timeshare locations. And, for my convenience you call me to let me know when I can vacation?
Salesperson said "we have thousands of timeshare owners that vacation all over the world, we have locations everywhere you could possibly want to be at. Timeshares are passed on from generation to generation in many families. Its a great investment in your families future."
I asked about two beautiful beach towns in Asia where my wife and I like to stay when we visit her family in Asia, and always have choices of several hotels; the salesperson said "they are not sure if they have timeshare properties in those small areas of Asia."
I know, I know, timeshares are not meant for everyone, and obviously don't work for my needs.But, today I talked about timeshares with co-workers and one of them said his neighbor lost a bunch of money on a timeshare when they went to sale it after owning it for just a few short years. The co-worker said his neighbor discovered how bad of an investment timeshares are shortly after buying it, and ultimately lost money when they tried to dump it. The other co-workers couldn't make any sense of timeshare concept either.
Though I have never personally known anyone that bought into timeshares, apparently a lot of people do buy them.
My question is why do people buy timeshares when there are plenty of hotels and resorts everywhere around the world. And you can haggle prices on hotels or just shop for best rates online. And, you use hotels for the night, week or month and you're not locked into a contract of fees every month. I'm sorry, but to me, it sounds like the scam of the century.
After a few minutes of listening to the sales pitch, the concept did not sound good to me. I asked several questions in the lines of the practicality, convenience, and financial investment of being a timeshare owner. I did not get any good meaningful answers that would make timeshares sound beneficial for me. I was told there are monthly maintenance fees, on top of the mortgage, to pay for upkeep of the grounds, for something I would only use a week every year.
I asked the timeshare salesperson "why would I want to buy a timeshare and be stuck in a contract to pay monthly fees, if I could just use a hotel exactly when and where I want to vacation?"
Salesperson answered "because you have to book a hotel, and hope there is an opening when and where you want to vacation."
I said "well, if one hotel is booked I could just call another hotel in the area. Also, are you telling me that I am guaranteed a timeshare slot whenever and wherever in the world I want to vacation?"
Salesperson "we cannot guarantee that a timeshare will be available at any given date or location, or that a timeshare exists where you want to vacation, but we would conveniently call you and let you know when a time slot fits your requirement."
My head was spinning now, and I replied "so, after making a large down payment I would pay monthly maintenance fees, a mortgage payment, and I am not guaranteed that I can use the timeshare exactly when and where I want or need? I have to limit myself to places where you have timeshare locations. And, for my convenience you call me to let me know when I can vacation?
Salesperson said "we have thousands of timeshare owners that vacation all over the world, we have locations everywhere you could possibly want to be at. Timeshares are passed on from generation to generation in many families. Its a great investment in your families future."
I asked about two beautiful beach towns in Asia where my wife and I like to stay when we visit her family in Asia, and always have choices of several hotels; the salesperson said "they are not sure if they have timeshare properties in those small areas of Asia."
I know, I know, timeshares are not meant for everyone, and obviously don't work for my needs.But, today I talked about timeshares with co-workers and one of them said his neighbor lost a bunch of money on a timeshare when they went to sale it after owning it for just a few short years. The co-worker said his neighbor discovered how bad of an investment timeshares are shortly after buying it, and ultimately lost money when they tried to dump it. The other co-workers couldn't make any sense of timeshare concept either.
Though I have never personally known anyone that bought into timeshares, apparently a lot of people do buy them.
My question is why do people buy timeshares when there are plenty of hotels and resorts everywhere around the world. And you can haggle prices on hotels or just shop for best rates online. And, you use hotels for the night, week or month and you're not locked into a contract of fees every month. I'm sorry, but to me, it sounds like the scam of the century.