Timeshares and vacation clubs are a terrible way to spend your money. The industry is overrun with smooth salespeople who will flat out lie to you to convince you otherwise. They prey on people on vacation and will promise you anything to get you to buy right away. So be careful this summer; I guarantee the promises they make you won’t stand up when you get home and:
- You see how cheaply people are willing to sell their weeks at the same resort. (You will probably even see people willing to give away their weeks to anyone who will agree to take over the annual fees.)
- You add up the maintenance fees, annual fees, RCI membership fees, banking fees, and swap fees associated with trying to trade your week or points.
- You realize you have to pay whatever annual fees the resort demands whether you use your time/points or not.
- You cannot just walk away from them – the resort will ruin your credit if you don’t keep paying the annual fees.
- You try to give your week or membership away and no one will take it.
- You ask the resort to just buy back your time or points and they won’t.
- You try to give them back to the resort and the resort refuses to even accept them unless you pay all the back fees PLUS legal fees and transfer fees.
7 Reasons to Never Buy a Timeshare
FTC Timeshare Information