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What am I missing?
We went to one of the timeshare thingees in Vegas (so we could get the free dinner & show tickets), even though we had absolutely no interest in buying. At the time, we certainly weren't in a financial position to buy even if we wanted to.
I have to tell you that the sales guys were good! They kept offering better and better deals (at least they SOUNDED good at first listen) to get us to buy. But no matter how they tried to spin it, those maintnenance fees just wouldn't go away.
Yeah, $50/month (or whatever they were) don't sound like much. (Compared to our HOA fees, that's a bargain.) If you're living there year-round! But once you do the math and multiply the monthly fees by 12 (which can go up every year) for the real cost of staying there for 1 week, ick! Well, OK, $600 for 1 week in Vegas doesn't sound that bad either. But that's on top of the thousands of dollars you paid to buy it.
Ya know, but for two little facts, he mighta sold me. First, there was nothing about me that even remotely suggested I was a golfer. Second, even if I were a golfer, I'm fairly sure I wouldn't have picked mid February as a great week to go golfing in the Arkansas hill country.
But oh could he pitch his lines with a straight face.
It was worth the tour just for that show alone. I so admire good acting. :)
The only advantage I see, is the ability to "swap" your timeshare with another property in another part of the country you want to visit. So one year you could hit the beach, another year you could go skiing in Colorado, etc. But this is only true for timeshares that participate in Interval International, which handles the "swapping" business. (So you buy a timeshare someplace that is CHEAP and swap it with some other place that is EXPENSIVE)
You can also "sell" your timeshare like its a piece of property. I don't quite understand what sort of "property" is being sold...
I run the other way , when I get a phone call 'inviting' me to tea and snacks at a big five star hotel.. ;-)
I normally say sonething like: I am filing bankruptcy next week..or I am currently very short of money..Can I borrow some at this meeting etc .. This normally puts them off for a while.
I have stayed in several wonderful timeshares and resort condos over the years. Rented by the week which can be very cheap. I pity the poor sucker who actually owns the unit that he's renting to me below his cost.
And who would want to take his vacation in the same place at the same time each year? As for trading, that works as long as your timeshare is in a place that's trendy...this year.
Yes, timeshares are all about marketing (much like whole life insurance or most maintenance contracts).
Still want a timeshare? Buy on the aftermarket at 20%-60% off.
why in d he11 he would buy 2 timeshares in the same place
I never got up the nerve to ask him why in d he11 he would buy 2 timeshares in the same place.
the two reasons may well have been named "Honey " and Lulu"
the well known female time share seller twins ..
"hi ..I'm Honey and this is my twin sister Lulu ..d'ya 'll wanna spend some shared time with with us :))?"
ever see an ugly time share seller?
No ..
Why ..?
because the job qualifications are the same as for the other accost 'em on the sidewalk or in bars "profession" ..
look real cute ..and lie convincingly ..
I have way more respect for those of the above who dont try to con old folks out of their savings ..
-Have something to leave to your family if you die (best way to sucker the seniors in)
-It's an investment
-They'll finance it for you at 18%
-It "forces" you to take time for vacation each year
-Timeshare chicks are hot
-They have all of these other timeshares for sale from previous owners for 20% of the price they quoted earlier (nice investment)
-They'll stop talking if you just sign the form
-Because they give you a free gift. After two hours of being a jerk...
Timeshare chick - "So if you knew you didn't want a timeshare why did you come to the meeting?"
Me - "Because you called and offered a $100 savings bond."
Timeshare check - "So you were just going to take our gifts with no intention of even considering it?"
Me - "Yeah, now you get it. I really wish we could have addressed this issue two hours ago."
Timeshare check - "So you were just going to take our gifts with no intention of even considering it?"
-Timeshare chicks are hotand really gullable. Hmmm.
What's the point in paying a lot of money for a timeshare if you have to pay almost what a hotel costs for a week in maintenance fees?
We've gone to timeshare presentations in Hawaii just for the discounts on the attractions they offer as an enticement and to see what they had to say. At the last one we went to, I brought a calculator.
They wanted $20,000 for a one week stay plus $700 a year maintenance fees. The condos cost around $300K to buy outright. So if they sold all of the "weeks" then the time share people were taking in $1,040,000 for each condo worth $300,000, plus $36,400 maintenance fees a year for upkeep on a 1 bedroom condo.
I think if you want to make money, it would be better to buy a share of the companies selling the timeshares. Those are some pretty amazing profit margins!
Timeshare check - "So you were just going to take our gifts with no intention of even considering it?"Me - "Yeah, now you get it. I really wish we could have addressed this issue two hours ago."
Pretty funny. We do the same thing only don't have as witty of a counter-argument.
[edited by: Jane_Doe at 9:20 pm (utc) on Jan. 9, 2007]
It's the holy grail of cheesy hard sell and manipulation. The reason people buy it is because they don't know all the facts, or the facts are altered outright. Yep, they lie. It's not stupid customers, it's unethical salesmanship thats the problem here. They tag team you and use psychological interrogation techniques (the softer variety) to pressure you into buying. There is no time to view all your options objectively. None of this chargeback stuff, once you sign the legal contract your dead meat.
I used to own a sales/marketing unit for time share style points club attached to that were two telesales marketing offices.
In all I employed around 15 - 20 people.
I became involved due two friends and the money that we made was amazing.
We would sell the points at around £250 each we paid £50 you had to buy a minimum of 40 points, thats right you pay me £10,000 I pay £2,000, oh yes and theres the small matter of the annual fee.
However the scheme I was involved in had apartments worldwide, in as many places as you could mention via exchange programmes with fellow schemes, it worked and worked well.
You actually own part of the club the club owns the property, hence a rise in value of the property sees an increase in the value of your holding, it was a limited life company which meant it was due to be dissolved in 2040 and funds divided up amongst the points owners.
It was a good deal, timeshare isnt.
However the callcenter staff were born losers, weirdos and druggies, one was arrested for murder, others for drugs and assorted crimes.
Yep they lied, but hell if I caught them they were for the chopping block, the sales staff, well a more slippery slimey bunch you couldnt wish to meet.
Teflon had nothing on these jokers.
They were backstabbing and underhand, tell you what they could out spin a politician any day.
I sold out when: one sales man was murdered working for someone else in Spain, another just vanished, I realised I was dealing with and speaking to a high level mobster in the Med, became fed up with being lumped in with the other dodgy, dishonest, deceitful and violent types.
Dont buy timeshare kiddies, just say No
