One of the common promises told at a timeshare presentation is that timeshares are easy to swap. Know the most popular exchange companies and how they work
When being at a timeshare presentation, you are likely to be told many fake promises in order to make you buy a timeshare. This becomes a hardcore brainwash operation, and many people fall for it. One of the most commonly lies told at a timeshare presentation is that you can trade your timeshare location for other different destinations around the world; timeshare reps use this promise as part of their sales tactics to make the deal more attractive. Although this is not completely false, the truth is that timeshare exchange is not easy at all.
With the expectation to travel all over the world, many families end up buying a timeshare. Unfortunately, this is not frequently the case, and it can even be more difficult than it’s worth. There are lots of timeshare owners who have been trying to trade their holiday ownership for years without a success. The objective of this article is to make known the most popular timeshare exchange companies and how timeshare exchange works.
Timeshare Exchange Companies
Timeshare exchange companies are corporations that specialize in timeshare trades. Customers who buy a timeshare in a resort which is affiliated to an exchange company have the option to exchange their timeshares with other members. Numerous resorts are affiliated to different exchange companies. The following are the most famous timeshare exchange companies, being the first two presented the world largest:
RCI (Resort Condominiums International): RCI is the world largest timeshare exchange company. Founded in 1974, it has more than three million members around the world and around 4000 affiliated resorts.
- The Company doesn’t cooperate in accordance to the terms agreed on their website
- Many extra fees are charged
- The management is disorganized
- The information they give to customers is not precise
II (Interval International): II is the second largest timeshare exchange company. It has been operating since 1976, and it has more than two million members and over 2,500 affiliated resorts.
- Poor service
- Resorts to exchange are rarely available
- Several fees are continued charged
Another Popular Exchange Companies:
TPI (Trading Places International): This Company was founded back in 1973 and it is based in Southern California. In 2010, TPI was acquired by Interval Leisure Group. It currently has more than 71,000 members.
- They have very few choices to exchange your timeshare
- Resorts are not often available
- DAE (Dial An Exchange): Dian An Exchange is a worldwide Company that started in Australia, back in 1997. It has over 300,000 members and the exchange prices are lower.
- Common complaints:
- Even though they have a large listing of resorts, very few of them are available to exchange
- Their exchange system is confuse
- Platinum Interchange: Platinum Interchange was founded in 1979 and it has 1300 affiliated resorts around the world.
- Common complaints:
- Their availability is poor
- Reservations must be requested with a year of anticipation or more
How do I exchange my timeshare?
As indicated before, it is not easy to trade your timeshare. Timeshare exchange requires lots of research into every possible swap location. The availability on many different resorts is almost null, and there must be someone willing to trade his timeshare with yours.
Besides all that, you have to keep in mind that trading a timeshare costs money. Timeshare exchange companies charge an annual membership fee. This fee can be as little as $15 as much as $100 per year or more. Also, it is likely that the resorts charge trading fees, which are at least $100. Sometimes you have to upgrade your timeshare to be able to exchange it, and this will have an extra charge.
If you are a world traveler, you DON’T need a timeshare
Regardless what the timeshare salespeople say, timeshares are not easy to swap, in fact, it may end up being more expensive than traveling by your own, even if the resort is affiliated to one of the timeshare exchange companies mentioned before. Timeshares can be a good purchase for those who enjoy traveling to the same spot every year, but definitely not for those who enjoy spontaneous travel and without several restrictions.
Owing to the difficulty to exchange their timeshare locations and the expensive annual costs, many timeshare owners decide to get rid of their ownerships, yet a vast majority don’t know how to do so. At Mexican Timeshare Solutions, our goal is to assist timeshare purchasers who feel they were scammed or taken advantage of by fraudulent salespeople and deceptive sales practices. Contact MTS for a completely free consultation on how we can help you to cancel your timeshare contract and finally recover the tranquility and financial freedom you need.
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