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Over time, Timeshares have become one of the most controversial industries. Find out the hidden truth behind timeshare myths
Timeshare industry has experienced a considerable growth over the last few years.
On the surface, it looks like it is a reliable market and an innovative way to vacation; on the other hand, timeshare frauds are happening on a daily basis, putting thousands of families in a critical financial situation and taking millions of dollars each year.
Such conflict has created lots of misinformation about timeshares, and most timeshare myths come from timeshare salespeople. In the following, we will expose some of the most popular timeshare myths.
8 Timeshare Myths exposed
Timeshare Myth # 1: A timeshare is a good financial investment
Reality: Timeshares are not an investment at all. A timeshare is a purchase instead of a financial investment.
You have to pay an initial purchase price and annual maintenance fees, which tend to increase each year.
Timeshare Myth # 2: You can rent your timeshare weeks and make a profit
Reality: Timeshares are not high demand for rentals. It is much easier and more practical for people to rent a room in a regular hotel than to rent a timeshare.
Timeshare Myth # 3: A timeshare can be easily sold anytime
Reality: The timeshare resale market is not robust, and never has been. There are owners who have tried to sell their properties for years without success.
Timeshare Myth # 4: Timeshares are for everyone
Reality: Timeshares are not for everyone, in fact, they are not for a large range of people. Timeshares are for people who like to vacation in the same spot every year, not exactly for travel lovers.
Timeshare Myth # 5: Timeshares go up in value
Reality: When a timeshare is first purchased, it loses 40-70% of its original value. In fact, many timeshares are being sold for a buck or even less.
Timeshare Myth # 6: Timeshares are Real Estate
Reality: Legally, they are, but in essence, timeshares are not Real Estate. As a matter of fact, timeshares do not appreciate like regular Real Estate.
A timeshare is a shared ownership that you partially own.
Timeshare Myth # 7: If you stop paying, the resort will take the timeshare back
Reality: There is no way the resort will take your timeshare back. It is likely that the resort will take your unit back by foreclosing on it, but this is not an option for them.
It is more probable that you will take your debt to a collection agency, which ends up affecting your credit score.
Timeshare Myth # 8: You can easily trade your timeshare location to another location anywhere in the world.
Reality: Timeshares are not easy to swap, and the exchange process is more problematic than it’s worth.
Usually, owners have to upgrade to be able to trade locations, which means they have to pay much higher fees.
Take your time when buying a timeshare
Don’t let yourself get carried away by the fake promises made by the salespeople. Consider all the timeshare myths cautiously before putting your hard-earned money at stake.
Know all the risks that owning a timeshare involves, as well as the terms and conditions established in the contract and your cancellation rights.
The worst thing you can do is rush a decision without giving it much consideration. Be able to identify timeshare lies said at timeshare presentations, and don’t let yourself dazzled by them.
Learn to say “No!”
If you're sure you’re not interested in buying, then don’t buy and learn how to say “No”. Do not feel obligated to do something that will eventually get you into deep financial trouble.
Timeshare sales practices are known for being high-pressure and aggressive, and the salesmen will insist you persistently buy a timeshare.
Beware of timeshare presentations. We know from people who attended a timeshare presentation in order to get the freebies, and ended up purchasing something they did't really want or need.
If you, or someone you know, owns a timeshare you want to get rid of, contact Mexican Timeshare Solutions for free advice.
Mexican Timeshare Solutions offers you a free consultation on how to get rid of your timeshare easily and legally.
To receive more information about timeshare myths and how to cancel your timeshare, send a WhatsApp to +52 333 239 6589, fill out the contact form, or call us at +1 714 277 3662
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me encanto este articulo, han sido muy objetivos y esto es lo que necesitamos, leer los puntos buenos y malo, gracias por compartirlo!
creo que es el mejor articulo que he leido sobre tiempos compartidos, es muy objetivo y real, porfavor sigan asi me encantan todos los articulos
Thanks for showing us the truth, most of the time they force us to believe what they say, and we are blind, we never think
I must say that timeahares were out in the 80′s shame on anyone that is not smart enough and take the tour and the FREE tickets I thank you for the warrenty info but free market and buyer must be aware….
I recently have been taken advantage of by wyndham resorts and am getting no help from their offices . I basically spent 20,000. for 2 nights . as they only gave me 126,000 points ..not what was promised me . When I got home the mass amount of paperwork had all the legal stuff and how to pay but the papers of my points were no where to be found
I think timeshares are a poor investment. I would never get one. Its very rare to hear anything good about them. All I hear about is timeshare relief scams and hidden fees. Be thankful you didn't fall for that.
I have no faith in time share, as far as I'm concerned they are a premeditated nightmare! What bugs me even more is we stayed at a adults only resort in Mexico and the woman at the desk was the one who initially snickered us into the presentation! From there we wasted a whole day with what ended up being a nightmare when we got back to Canada. Long story short we wanted to trade our pointshare from our province in turn for peublo Bonito, no problem, but nothing is legal unless it's written on paper. They would issue us $8000 cheque for ours in turn, cheque never came but now we got Blackwell recovery on our back! We payed so much done on visa, now they want more money and we will have paid over $5000 for a headache plus we lost a day's vacation when we listened to that pipe dream, in good conscious someone else's loss will not be my gain, my experience has left a bitter taste, but that was our experience and we own that one, record your whole session if you do think of purchasing something on a whim!
Yo compre un tiempo compartido despues de una presentacion, porque pense que podria cancelarlo despues, pero jamas me informaron de muchas cosas de las cuales ahora me arrepiento!!
Por supuesto que no podrian ser una inversion, suelen ser muy caros y despues es imposible salir de ellos, es por eso que hay tantas molestias respecto a los tiempos compartidos :S no es ningun mito, es una realidad
Buy timeshare as a timeshare resale and you are already ahead of the game. You will have spent less money from the onset, and you will have less to worry about when you get ready to resell. Buying timeshare resales offers you the luxury and amenities of timeshare vacations without tying up as much of your hard-earnedcash or your credit line.
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