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Timeshare Companies: The truth about them

Timeshare Companies: The truth about them
28 Nov 2012
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 Timeshare companies – The beginnings

Timeshare companies started their operations in the United States back in 1974. The concept was well accepted by many entrepreneurs due to the big profits they could make, being that they could sell a room more than once to different owners. Then in the late 1980’s, several timeshare companies started to run in Mexico, Canada and other countries in America. 

Timeshare scams have been around since the beginning of the timeshare industry, but these frauds weren’t well known until recent years. What happen is that before there were not as many timeshare laws and regulations as there are now (as you can see on the article get out of a timeshare legally so many of the owners just resigned to the fact that they had to keep the timeshare they bought without thinking.

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Timeshare companies – The complaints

What people complaint the most about timeshare companies is that it is nearly impossible to re-sell the unit, unlike what they were told by the salesreps. That means, once they signed the contract is like making a pact with the devil due to the enormous difficulty to give the timeshare away, in fact, many times the owner ended up losing more money being ripped off by several timeshare resale scam companies that are in operation.

Another common complaint is that the units are frequently overpriced.  Timeshare companies ask for ridiculous amounts of money for a property you don’t even own entirely. 

One more criticism is the maintenance fees. Owners are bound to pay expensive fees every year, even if they don’t use their timeshare weeks, and the worst part is that the fees keep increasing year by year, and this is also mentioned on the article timeshare complaints, among others.

Timeshare companies – The truth behind the big numbers

timeshare truth

There are close to 7 million families in the world who own a timeshare. The global timeshare sales are over eight thousand millions of dollars per year, but the truth is that more than 50% of those families are struggling to get rid of their properties. Timeshares companies use high-pressure sales tactics to make people sign the contract, more of these sales tactics are described on the article Timeshare salespeople.

 The salesmen consent the potential victims with lots of free gifts, such as meals, tours and even cash. After the “guests” feel comfortable and relax, the sales work begins by lying to them, telling them that getting a timeshare is a fabulous investment and if it comes a time when they don’t want the unit anymore it’s an easy task to resale it. The cordiality is gone.

Timeshare companies – Their biggest hurdle

Nowadays is becoming a harder challenge for the timeshare companies to maintain their timeshare sales increasing. People are gradually realizing that getting a timeshare is not a good deal nor an investment and that is a big hurdle for the timeshare companies, so they target people who probably don’t have much access to internet or any other kind of information. Also, they use alcohol as an incentive in their timeshare presentations in order to get the guests alcoholized. Trying to convince to buy a timeshare someone that is under the influence of alcohol is a lot easier than convincing someone that is not and can think objectively.

 We’re not trying to tell you not to buy a timeshare ever, but we want you to be conscious about what timeshare companies do to keep increasing their profits, without caring for the consumer’s rights. We receive calls every day from people who have been scammed by a large list of timeshare companies and are desperate to solve their timeshare issue. At Mexican Timeshare Solutions we offer you a free advice on your timeshare matter without charging any upfront fee.  Getting out of timeshare is viable and possible; you just have to contact us today and be prepared to give your timeshare away and finally relief yourself.

Information to Share

If you liked this article, please help us to share this information to more people in order to avoid more timeshare scams victims, how?

  • Share this link http://www.timesharescam.com/blog/115-timeshare-companies/ on your favorite blogs and forums

 

To know more about Timeshares visit: Free Timeshare: The Trap behind the Offer

Leave your comment below and share this post on Twitter and Facebook to prevent others from becoming victims of timeshare fraud. 

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23 Comments
  • MikeApril 15, 2014, 7:31 am

    Time share has a resale price if it was possible to find a buyer. Most of the people I know who have time share are happy with the holidays they obtain and know they cannot sell, even if they wanted to. Holiday clubs are simply membership clubs and ownership has no resale value as there is no entity (like a week’s holiday at a particular resort). Best to keep away from both unless you want to buy enough points to get six weeks winter holiday a year from the purchase of two weeks in a resort in July.

  • JulianaApril 4, 2014, 3:33 pm

    yo la verdad ya siempre que escucho algo sobre tiempos compartidos, sé que se trata de una farsa y de una perdida de dinero, mejor ni me meto con eso

  • AmandaMarzo 24, 2014, 1:48 pm

    We could not afford to pay the dues anymore. The timeshare that we had stated in a letter that we would have to forfeit/surrend the timeshare if we didn't pay the dues. After contacting them and speaking to them, we surrender the timeshare with the understand that if we did this, the dues to would be forgiven since we gave it back. NOW, we get a letter from a collection department stating that we owe this money. What do I need to do?

  • EsmeraldaMarzo 3, 2014, 10:06 am

    todo lo que les puede hacer el dinero, engañarnos y robarnos, me dá muchisima pena y coraje al leer este articulo pero mas vale estar enterada

  • John WoodsFebruary 20, 2014, 12:13 pm

    Time share has a resale price if it was possible to find a buyer. Most of the people I know who have time share are happy with the holidays they obtain and know they cannot sell, even if they wanted to. Holiday clubs are simply membership clubs and ownership has no resale value as there is no entity (like a week's holiday at a particular resort). Best to keep away from both unless you want to buy enough points to get six weeks winter holiday a year from the purchase of two weeks in a resort in July.

  • April ShowersFebruary 11, 2014, 1:06 pm

    I purchased a week on ebay last night and don't want it. I wonder if I have a right to rescind it? The state law where the timeshare is located requires 5 days, but I don't know if that applies to ebay purchase. Do you know? No contract was provided, and I already paid like $250 for it. My husband is angry at me. Please help me!

  • scottJanuary 23, 2014, 10:14 am

    I requested in a letter to westgate a few months back for a deed in lieu of forclosure,westgate has responded to me in a letter that my request for deed in lieu of forclosure has been respectfully denied. I will be sending a letter back stating to them their payment request has been respectfully denied.

  • MarJanuary 21, 2014, 11:10 am

    la verdad es que no sirve de nada, es una perdida de dinero, es mejor vacacionar por su cuenta y ahorrarse dinero y estres

  • Hank ColemanJanuary 14, 2014, 2:15 pm

    Think twice before buying a timeshare!

  • Barry ColemanJanuary 3, 2014, 12:03 pm

    I went to a presentation a couple days ago because I had time to kill for the $80.00 AMEX card offered. Program looked good but I had the feeling they were not telling me the whole program and cost. I stayed strong and said no. Funny that they wanted to know why I spent 2 hours of my vacation at there presentation if I was not going to buy?? I explained it was an easy way to make $40.00 per hour. They tried to make me feel bad but I knew they had already taken several people that day for there hard earned money. After the presentation I wanted to know more because I thought the program might be good….searched internet and found way to many stories like on the blog.

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