Timeshares are meant to be an investment tool to secure future vacations at a reasonable price. Learn why seniors are easy targets for resorts to fall prey to timeshare scams.
The timeshare contracts are normally made for a period of 25-30 years, and some for up to 99 years.
At Mexican Timeshare Solutions, we receive several calls and emails per day from seniors who have been taken advantage of for thousands of dollars of their retirement savings.
Many of these clients will not be able to use their 30-year timeshare package, as they are already in their late 70s or early 80s.
We hear from many clients that they were either confused about what they were purchasing, or realized afterward that the package was not presented in an honest manner.
The following are some of the sales tactics that the timeshare scam companies use to attract seniors to buy:
Senior timeshare scam No 1:
The timeshare can be willed to their children or grandchildren.
Many seniors purchase the timeshare package, thinking that it will be a nice inheritance for their family members to receive upon their passing.
As the timeshare is sold under high pressure, they are not given the time to contact their families at home and consult with them whether they would like to own a timeshare in Mexico.
After returning home, most of the seniors find that their family members do not want the commitment of having a timeshare contract and an associated maintenance fee payment.
When the seniors contact the resort to try to cancel the contract, it is often past the 5-day rescission period, and the resorts do not give them an option to cancel.
The timeshare company will not charge them annual maintenance fees.
Most timeshare owners are expected to pay an annual maintenance fee, which increases substantially each year.
This is often a deterrent to senior citizens who are on a fixed income.
The timeshare salespeople claim that because they are seniors, they do not have to pay maintenance fees due to a special type of contract they will have.
In some cases, this is true; however, if a family member who is not a senior citizen inherits the membership, they will be required to pay an annual maintenance fee.
In other cases, the promise of no maintenance fee is a lie that the timeshare scam salespeople use to entice seniors to purchase.
The seniors are often shocked to receive a bill each year for several hundred dollars.
Senior timeshare scam No 3:
Resales of Previously Owned Timeshares
Many retired seniors have already been timeshare owners for several years and are used to traveling in this manner.
They are accustomed to the idea of paying a maintenance fee and having a fixed vacation every year.
Timeshare salespeople are skilled at asking leading questions to find out if potential buyers already own another membership.
They used this old timeshare as a way to sell the new timeshare to the elderly people, claiming that they would sell the old timeshare for a high ticket value and use that money to pay for the new timeshare, which does not have an annual maintenance fee.
Even if the claim of no maintenance fee is true, the other property never sells, and the pensioners are responsible for paying the maintenance fee for the old timeshare as well as the total amount for the new timeshare purchase.
Senior timeshare scam No 4:
A good financial investment when pension funds are failing in a desperate economy.
The recession that started in 2007 is the worst recession since the Great Depression in the 1930s.
Many pensioners are suffering from large financial hits to their retirement savings, and are looking for other ways to invest to make their dollars stretch.
It is difficult for many seniors to survive, let alone take a vacation, in these uncertain economic times.
The timeshare salespeople are aware of this and promise large returns for the rental of their timeshare weeks.
If they choose not to use the weeks, the amounts they can rent them for can pay off the initial investment and provide the pensioners with extra money to live on.
Unfortunately, this false promise of a financial investment is one of the most common timeshare scams.
Senior timeshare scam No 5:
Ability to accelerate weeks
Another timeshare scam that the salespeople in Mexico used to sell contracts is the false promise of accelerated weeks.
The salespeople claim that seniors have the special privilege of being able to use their allotted weeks in a shorter period of time.
For example, if the clients purchase 1 week for a 30-year contract, the salesperson will make claims that they can use 2 weeks for 15 years, or 3 weeks for 10 years.
When the clients try to book the weeks on this accelerated program, they are denied.
This is a common verbal promise that is not stated in a written contract.
Senior timeshare scam No 6:
Time and Size
For many elderly people, high-pressure sales situations are very stressful.
They are not given the time to read the contract thoroughly and carefully.
Also, the font size of most of the contracts is so small that even a person with 20/20 vision struggles to read the fine print.
The timeshare scam salespeople take advantage of many seniors who trust that their word matches the written contract.
If you or one of your elderly family members has fallen victim to a timeshare scam in Mexico, contact Mexican Timeshare Solutions today! We are committed to helping people of all ages obtain a swift resolution to their timeshare problem.
To receive more information about seniors in timeshare 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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Leave your comment below and share your opinion with us. To know more about timeshare scams go to: Timeshare Resorts in nayarit: Under investigation.
Es una pena como estos resorts no se tocan el corazon y siguen estafando a todas esas personas que buscan invertir un poco en el poco tiempo que les queda de vida, solo puedo decir que no caigan en eso y disfruten , no necesitan de un tiempo compartido .
Dont get caught! timeshare business never gonna be a good investment, you should know that timeshare people are truly scammers, dont believe on them when they invite you to asist to a timeshare presentation just say no and stay away, or you gonna regret on a future.
Is such a shame to see that people of old age ar struggling with timeshare field , my parents lived that , so people pls if you dont want something like this , just blow the idea to get involved on a timeshare please.
Poor people, really .. i think that timeshare sales persons only look for these guys , is very sad that the resorts , dont matter what , they try to convince senior people to buy them , for that reason we need to search very well how timeshare works , is a very nasty field, on my opinion , just avoid timeshare presentations pls.
poor people, timeshare sales persons abuse of this persons cuz they only want to live the last years of their lives with no problems, so they decide to acquire a timeshare, the ugly truth is that they gonna be scammed as hell , so if you are thinking to acquire a timeshare pls avoid it, such a lot complaints withs this guys
Mis papas fueron victimas de una estafa enun hotel de mazatlan , el CID, ellos son de canada y yo por error los invite a pasar vacaciones en el puerto ya que es donde yo vivo , el problema fue que por mi trabajo tuve que salir y ellos ya habian reservado en el hotel , mis padres fueron a una presentacion de tiempos compartidos donde casi ala fuerza los hicieron comprar, una ves que compraron cuando quisieroon usarlo les decian que nunca estaba disponible ofreciendoles a cambio cosas que la vd no valen la pena, señores estas personas de los tiempos compartidos son una estaffa no caigan
Its a shame that these persons had this type of complains, timeshares in nowdays are very tricky and misleading , dont trust on the first seller that offer you the big deal
I tried to use it but there is never availability in the resorts I want
I have my timeshare with sandos/caracol, purchased it six years ago and have never been able to use my three elite week to travel, they always tell me nothing is available for the dates that I want to travel. I am very angry with priority exchange network, they have deposited my three elite weeks for exchange but I always have to go through a travel agent in order to book a week, I want to view the available weeks from other owners on with with the dates they deposited, but priority exchange network will not let me have access to them only travel agents get to pick and choose when you want to travel, which is never! When I tell them I want to view my deposited weeks they say no and that I can view only the getaway weeks and venture which are not the same as my three exchange weeks! I will never purchase anything again from Sandos/Caracol, they are a scam!!! and only want your money for nothing in return!!!
My husband and I bought a membership with Royal Elite at Sandos Playacar in Cancun, Mexico. We were promised all sorts of services and amenities. Nothing about the membership that was represented to us has been true. We were scammed out of thousands of dollars and have nothing to show for it but heartache. When you contract with Royal Elite you also are enrolled with RCI and Holiday Systems International (HSI), which assists with cash exchanges for your Royal Elite weeks you don't use and other travel services, such as 50% discount hotels, airfare, etc. None of it is true...HSI advertisements are also false. I get better airfare and hotel rates by booking it myself. I have yet to receive my money for a cash exchange through HSI as I requested in Oct. 2008. So...to all you unsuspecting people who stay at any of the Sandos Resorts...WARNING!! Stay at another hotel. There are plenty to choose from in Cancun that don't have these con artist around. Stay away from the vultures that try to high pressure you into buying a membership. Don't be stupid as we were.
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