Your experience(s) with timeshares, please

**PrairieRose** · 06-20-2007, 05:32 PM

Ok, Gripey and I have always been dead set against timeshares... . After having listened to a few high pressure sales talks about them we were convinced that they were the worst value for the money ever. We visited a place that we were thinking of booking for another trip while in Cozumel and listened in on another one....walked away thinking the same thing. BUT we came home got on the puter and have been looking at resale timeshares. The very ones that they try to pressure you into buying for anywhere from $19,000-30,000 can be bought for $2500-8000. It's still a sizeable investment and I'm wondering what your experience has been with timeshares for those who do or have owned one or have a close family member who does/has. I saw a post earlier about timeshares and the poster (sorry I don't remember who it was) said they are like a bad virus you can't get rid of.

**bumplett** · 06-20-2007, 06:26 PM

that was me!

we have a timeshare in New Orleans ~ for obvious reasons, we have been unable to use it -

**bumplett** · 06-20-2007, 06:27 PM

want it? I'll sell it for $1.00

**PrairieRose** · 06-20-2007, 10:39 PM

hhhmmmm.....

How much are your fees yearly? Have you spoken with the company that sold it to you? Considering the situation they should make some concessions I'd think.....???

**flowergirl** · 06-20-2007, 10:46 PM

my friend owns one and can not give it away it is in daytona she has used it threw the years but she is divorcing and they cant get rid of it what a waste of money she could of taken a lot of vacations for what the spent on fees etc. stay away .

**bumplett** · 06-20-2007, 11:49 PM

We enjoyed ours - but a New Orleans vacation is not one that you want to take with kids every year - KWIM?

We only have the yearly fees - $500 - otherwise, it's paid for - and it is something that you can give to your children, blaa, blaa -

We send my MIL & FIL on vacation one year when we weren't going to use it, so that's always a plus - they did have to sit through the "sales speech" though - otherwise, they had a FREE vacation.

More cons than pros in my opinion - I wouldn't do it again -

**MamaBear209** · 06-21-2007, 01:20 AM

the main drawback in buying a vacation timeshare that I've realized is that even if you have paid for it in full, you'll still be paying membership/club fees, maintenance fees, or other fees for the rest of your life that you own it. And you only get to use for 1 or 2 weeks a year? many timeshare salespeople don't emphasize this although they keep saying YOU will have a deed/title that you can pass on to your children. I'm not sure my kids will appreciate if they will be saddled with exhorbitant fees to maintain a timeshare. no wonder those who own them are willing to sell them just to get out of those expenses which they have to pay whether or not they use them for that year.

therefore a 1 or 2 bedroom suite or condo that they present to you is actually owned by 48 or 49 other people since you have rights to it ONLY for one week a year (you may choose to purchase more time but that makes it more expensive). there are 52 weeks in a year and they allot 3 to 4 weeks for maintenance of each unit so the rest of the weeks are for use of the owners.

I realize that another way to vacation in style w/o paying the exhorbitant fees is just to rent during their off season where they give it at bargain prices. since the units are sold, whatever fees they get from guests become extra income or they use the funds to cover up for maintenance fees of other units they have not sold. whatever you pay for staying in the luxurious resort is all you spend, no recurring maintenance fees to worry about.

This is the reason why they can afford to pay somewhere from $75 to $100 per couple to entice people to attend a timeshare presentation in the hope that they can convince them that it is a good investment property.

Caveat to those attending these presentations, you should have strong willpower and be firm with saying NO and make sure you are not pressured in any way should they go to NO money down now but just sign on the dotted lines. Your signature even w/o money down means you agree to their terms and conditions which you may not be able to get out of later so be forewarned.

**SerenaNY** · 06-21-2007, 03:47 AM

My experiences have been dead-on with the rest of you. My brother and his girlfriend actually got roped into a high-pressure sales pitch a few years back and had a heck of a time shaking the thing loose. The one person above who commented that a timeshare is "something that you can give to your children" -- well, yeah, actually it might be forced upon them if the timeshare contains a perpituity clause, and most do. My brother talked to a financial consultant afterward and they basically said that a timeshare is in most cases like a constant debt. There are even now companies that you can PAY to take your timeshare away -- timeshare relief, I think, was what my brother had to go through. So, yeah, I'd definitely agree with the rest of you and resist those sales!

**MamaBear209** · 06-22-2007, 12:03 AM

I'd just like to add that for those with very strong willpower and can say NO without qualms, it can be a fun way to vacation for free. Most of these timeshare resorts offer 3D2N stay in their resort and of course, they allow you to use the new buildings/condos to entice you to buy. Aside from that there are also cash incentives anywhere from $50 to $100 per couple plus other perks like show tickets, restaurant vouchers, entertainment booklets, etc. Provided you qualify and this is usually for those whose combined income is at least $40K, married, and you have a credit card (they don't accept debit/ATM cards) then you will be their target. Timeshare presentations usually lasts between 90 minutes to 120 minutes. Just go along with the flow, don't ask too many questions or else it will just prolong your stay there....LOL

After the tour of the units, they tell you how much it costs, that is when you start saying NO. They will keep on scaling down to suit your needs up to the point of asking you, "how much can you afford to shell out now?" many people get caught off-guard with that question and just to get out of there, some people say a certain amount. BIG MISTAKE. they don't realize they are still responsible for whatever it cost. the company may have taken a small downpayment from an unwilling buyer but it doesn't mean the buyer can just rescind the contract later on. they are stuck with that.

**MarshHen** · 06-24-2007, 05:39 PM

Oh man, these timeshare salespeople are extreamly well trained and relentless. You gotta stand your ground, that's for sure. We sat through a timeshare sales presentation a few weeks ago while staying in Gatlinburg, TN.. We were actually staying in a timeshare resort for 7 days A friend of ours owns a timeshare there. We just paid his maintenence fee, $500 which was very little, considering what we would have paid for a nice motel for 7 days. We had twin adjoining units, and each unit had full kitchens, whirlpool tubs, livingrooms with queen size sofa beds for the kids and fireplaces, dining rooms, washer/dryer, full showers, king sized beds in master bedrooms. Our son and his family came from Indiana to stay with us

Hubby almost caved one time, but after a few swift kicks under the table, he quickly came back to his right mind.

But, if you are strong willed, you can rack up on some awesome freebies. We were given 2 ea $30 gift cards to Golden Corral, a $75 gift card to Alamo Steak House, $75.00 Visa card, and a 3 night stay at any Holiday Inn Express, good for a year.

We used everything while in Gatlingburg except the Holiday Inn thingy, but we will use it for a mini vacation in Florida before school starts this year.

We will go back again next year since our friend has offered the same deal to us, but we will stay in Pidegon Forge next time.

**crazyBMB** · 06-24-2007, 07:36 PM

I've never had one but friends have. The have not been happy

**PrairieRose** · 06-24-2007, 08:35 PM

Gripey and I have done extensive research on the particular timeshare we were considering and have run the numbers and definitely decided not to get caught in that trap for any price. Thanks for your input and I agree that you can rack up some nice prizes for sitting through a 'presentation' if you don't mind giving up an hour and 1/2 of your life and then being treated with disdain afterwards. Anyway we appreciate your opinions and are so happy that we are sticking to our never do it frame of mind. We may actually rent a timeshare at some point but never will we ever buy one.

**lullaby80** · 06-25-2007, 06:06 AM

We have a trendwest timeshare, damn those salespeople are good. We're basically paying $160/month for like 9 years PLUS $200 in maintenance fees. We've owned it for four years and never used it. It is definetly our biggest financial blunder ever, we don't even talk about it at home. Please, never ever get a timeshare.

**MarshHen** · 06-25-2007, 08:25 AM

LOL, Yes they are. Actually, our presentation didn't last that long. My back was hurting and I wanted to hit the hot tub, so I cut it short, got our freebies and

**MamaBear209** · 06-28-2007, 11:58 PM

Originally Posted by PrairieRose

I agree that you can rack up some nice prizes for sitting through a 'presentation' if you don't mind giving up an hour and 1/2 of your life and then being treated with disdain afterwards.

we have attended at least 2x in Branson, MO and I can honestly say we were not treated with disdain even if we said NO and walked away with our cash and gifts. it was worth 90 minutes of our time to look at the beautiful log cabins they were presenting since we got ideas for remodelling our log house.