What they don’t tell you about timeshare 2
I’m optimistic that the first part of this article must have been an eye opener. I am yet to finish telling you all that timeshare firms would not tell you about owning a timeshare.
- It’s cheaper to rent a timeshare than buy one
When you rent a timeshare it would cost you almost the same amount you would spend on a hotel. This is obviously the smarter thing to do. You would not share in all the problems of owning a timeshare and you can rent a timeshare in any part of the world. Why not just rent one since it is almost the same value as renting hotel rooms instead of buying the problem called timeshare. In addition, often you can find the same timeshare for rent less than your maintenance fees.
- It’s a depreciating asset
It has to be the only asset you can own that loses its value faster than a car. The sad part about buying a timeshare is the moment you pay for it loses up to 50% to 100% of its original value. Imagine paying $40,000 to $100,000 for something, and when you walk out the door, it is worth nothing. This is the reality of timeshares. Don’t believe me? Try going to a banker and asking for a loan with your timeshare as collateral. Don’t be offended if the banker laughs at you. It does not at any point increase in value rather as the months go by. Tthe value keeps depreciating while your maintenance fee keeps increasing. This does not sound like an investment to me.
- You lose money when you want to sell
If you manage to get rid of your timeshare and you are lucky enough to get it done, you would lose a lot of money in the process. First thing you must know is you cannot sell your timeshare at a value higher than what the purchasing price was. You would be lucky to find someone that takes it for free. Yes, I said FREE. And, you would not care. You would be too desperate to get rid of the timeshare to care about how much you are selling.
- Resale scams are rampant
When you purchase a time share from a firm, the firm pretty much would not want you to leave. When you are ready to sell, they would not buy from you or help you sell your unit. Because most people are always desperate to get rid of their timeshare they fall into the hands of scams. This occurs every day. The resale of timeshare can be very annoying and sometimes too long. These scams feed on the desperation of people and steal from them while leaving them with their liability.
- Vacation prison
In the first part of this post I spoke about timeshare trade can be very annoying and this leads to you being stuck in a place you are already bored of. Timeshare simply creates a vacation prison. What was once vacation dream overtime becomes the most boring place to visit. You get bored and tired of the same place every year.
- What you see is not real
When you about to purchase a timeshare you would be shown really beautiful places. The apartments would looks absolutely lovely and breathtaking. You would fall in love with the place at once. When you buy the unit the story becomes really different. Often, the unit that is written on your purchase contract is much different in location and feel than the model one shown during the sales presentation. I have know clients that purchased at oceanfront timeshares, promised the opportunity to reserve similar units, but then to have units with parking lot views printed on their purchase paperwork. These timeshare salespersons and firms have to paint the perfect picture to you to get you to buy the unit. They would bring the best of pictures and videos to you. In reality it is not all of that. It is not that at all. Save yourself the disappointment.
one thing we know is that these salespersons never tell you that getting out of a time share can prove to be near impossible. it is one of the most frustrating liability you can own. the maintenance fee never drops but rather keeps going up and you would always want out.
we have also helped you search our liable firms and timeshare elimination firms that can help you. check out tselimination.com and tsgetout.com for a easy and convenient way out.
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