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Grabbed by the Time Share Sharks and.....

USA
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107 posts
23 reviews
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Grabbed by the Time Share Sharks and.....

Would love to hear what happened to the people that the sharks grab.

On a more serious note:

We are also wondering if purchasing a time share is a good deal. Thoughts? Costs?

Edmonton, Canada
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895 posts
8 reviews
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1. Re: Grabbed by the Time Share Sharks and.....

I f your interested in buying a time share I would suggest you by it from a re-seller. When people who pay full price for them want to get rid of them they will sell them for pennies on the dollar. If you buy from the sharks you are just paying them their commision.

USA
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7,144 posts
5 reviews
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2. Re: Grabbed by the Time Share Sharks and.....

In general a BAD DEAL. The costs are all over the board, but way too expensive. If you must buy you can get any resort on the resale market in the USA for pennies on the dollar. Buy-the-way, did I mention that in general a very bad deal?

Texas
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5,812 posts
62 reviews
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3. Re: Grabbed by the Time Share Sharks and.....

And then sometimes hotels are sold or close and then you are SOL...i.e. when Plaza Las Glorias became the Cozumel Palace...etc.

Littleton, Colorado
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2,284 posts
51 reviews
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4. Re: Grabbed by the Time Share Sharks and.....

We own in the Occidental Vacation Club. We do not have regrets. We can basically travel anytime of the year except Christmas and Easter. We have one week, anytime, but have unlimited bonus time. We can go to any of their resorts and hotels. Deal? Maybe not. But we do love the exclusive clubs at the resorts and the ammenities that come with the membership. I truly wouldn't buy from a shark. I would visit a few resorts before buying into anything. Not all "timeshares" are alike.

Edited: 24 April 2012, 03:03
Kansas City...
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2,937 posts
62 reviews
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5. Re: Grabbed by the Time Share Sharks and.....

I would never buy one. I want total flexibility on where / when I want to travel.

THe destination I love today may grow tiresome in a few years (e.g. I was a total hiking / mountain / skiing person 5 years ago - now I'm a beach bum... 5 years from now - who knows).

I figure for the price I can still rent a condo or something anywhere for about the same price ultimately as the timeshare.

Yeah, I don't own anything, but as others have eluded to - the value of a time share when you go to sell it - is ...umm..not high.

Littleton, Colorado
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2,284 posts
51 reviews
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6. Re: Grabbed by the Time Share Sharks and.....

We have found ourselves traveling much more with ours than before we bought. Ours is flexible and can be used in other countries and not just in Mexico. YOU have to know what YOU want. We still cruise, we use our vacation club, we RV, and we ski yearly. We aren't limited just because we bought into the vacation club. You just have to figure out what is best for you and only you. You also have to realize before you sign on the dotted line that you are not in it to make money. We did not go into it thinking we would sell it down the road so that wasn't an issue for us..

Wisconsin
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250 posts
35 reviews
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7. Re: Grabbed by the Time Share Sharks and.....

IMO the risks are much greater than the rewards. There are some well run operations, but they are outnumbered by those that are mismanaged and are ticking time bombs. If money is not continuosly being re-invested into facilities upkeep and they begin to get rundown, that is the beginning of the end. Once a place starts getting rundown, new money stops coming in. Time share sales help cover the initial investment, but ongoing weekly rentals are the ongoing cash flow that these places need to survive.

As others have said, if you feel it is for you, research, research, research and never buy direct from the developer. There are lots of opportunities to buy from owners looking to get out for a fraction of the original price.

Katy Texas
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1,627 posts
11 reviews
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8. Re: Grabbed by the Time Share Sharks and.....

Good point Yellow, we have a timeshare that is based out of Texas and I am certain many have heard thier schpiel. We bought and hell, we have used it 3 times over the years because each year the place gets worse and worse with the upkeep. We are stuck with it and can not sell it but we learned a valuble lesson. Now I do wish that we would have got enrolled in the RCI thing, that may have made it worth our money. Maybe?

Cozumel, Mexico
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373 posts
7 reviews
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9. Re: Grabbed by the Time Share Sharks and.....

RCI has a whole set of costs associated with it....membership fees, exchange fees, cleaning fees, etc.

Edited: 24 April 2012, 15:38
North America
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616 posts
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10. Re: Grabbed by the Time Share Sharks and.....

A bit off topic, and hopefully I am not highjacking the original post. I was at the Cozumel airport last month on af Saturday night picking up some people arriving. The arrival time of the plane was delayed by about 1.5 hours. The plane finally landed, and at that point people were tired and just glad to have arrived. The time share folks were out in full force, this was already close to 10 p.m. They nabbed one family who seemed a bit disoriented, and started their line, "where are you staying, do you need a ride?" I really felt awful standing and watching this, I was finally able to pull one of the persons aside, explained it was for a time share pitch and told them where they should be headed. Boy, did I get a blast. One of the time share guys just screamed at me, and then had someone from airport security come and tell me that I should not be doing this. I kind of held my ground - I did not feel there was any need to be talked to so rudely by the time share person. The security guy didn't seem to care all that much, he looked like all of 16 years old.. I guess I shouldn't have done anything, but I am glad I did - and so are the folks that I "helped." It is pretty difficult to just stand there and watch these people get bombarded and look the other way.