Timeshares can be a good vacation option, as well as they can be a big scam. Learn more about timeshare scams and how to protect yourself from these frauds
Everyone loves holidays, and with the beginning of vacations, thousands of families and couples start looking for places to travel to. Timeshares represent an option that results temptress for many vacationers and an opportunity for the resorts to sell timeshares, therefore, timeshare purchase scams are becoming more frequent, and people should be cautious about anything that sounds too good to be true.
However, not all timeshares are bad, but they are not for everyone. Timeshares may be a good acquisition for those who enjoy traveling to the same spot every year, but definitely not for people who like to travel spontaneously. The following paragraphs will describe what timeshare purchase scams are and how to avoid becoming a victim of one of them.
Timeshare Purchase Scams
Timeshare purchase scams are vacation properties that are sold in an unethical matter. During holidays, many vacationers are approached on the streets to be invited to have a free breakfast and a free tour, among other gifts, only if they accept to attend a 90 minutes sales pitch. This invitation is actually a hook to bring people to timeshare presentations.
There are persons who enjoy attending timeshare presentations to get the freebies; however, it is very important to be extremely careful, since these presentations are very high pressure and a considerable percentage end up signing a timeshare contract.
There are lots of timeshare complaints, and the industry has been negatively criticized because of the big number of scams that have been committed in the last years. Some timeshare companies are accused of using fraudulent tactics to sell holiday ownerships, while others affirm that the units are overpriced. Nevertheless, the biggest complaint about timeshares is that they are almost impossible to sell, and the resale value is incredibly low. For more information about timeshare scam companies, visit our Black list of timeshare resorts.
Beware of timeshare scams
Contrary to what one might think, timeshare scams increase in bad economy, as a result, it is essential to beware of the timeshare purchase scams that are committed by some resorts. Regardless of how they are presented, timeshares are NOT a financial investment and they need be looked up as a purchase. If you decide to attend a timeshare presentation, or if you are considering buying a timeshare, you will know you are being scammed if you detect one of the next peculiarities:
- The promises told by the timeshare salespeople are too good to be true
- Timeshare salesperson is overly aggressive
- The sales pitch is extremely confusing and high-pressure
- Misleading advertising used by the sales representatives
- You are told your timeshare will be a good financial investment
To know more false statements told at a timeshare presentation go to article Timeshare scams: 8 common lies told at the sales presentation
Tips to protect yourself
In order to protect yourself from becoming a victim of a timeshare scam, you must follow the next tips:
- Read your contract very carefully and understand all the terms and conditions established on it.
- Do not believe everything you hear, verbal promises are not valid if they’re not written in the contract.
- Know your timeshare cancellation rights before making any purchase.
- Leave the presentation if you feel you are being too pressured
- Ask for details, know the type of timeshare that you are being offered
- Obtain written information about everything you are being told
- Know who you are dealing with. Research everything about the company before making any deal with it
- If you have any doubts, you better say No! It won’t hurt anyone
- Verify the company’s rating with the BBB.
- Do not give your credit card information
To know more tips visit our article: Timeshare Fraud: 5 Tips Timeshare Resorts Don’t Want You to Know
Don’t be a victim! There’s a way out
Many people have become victims of timeshare scams during their vacation, which is not a reason to be embarrassed. A timeshare is a huge financial commitment, and not everyone is able to afford the timeshare maintenance fees.
Mexican Timeshare Solutions is a company that assists timeshare purchasers who feel they were scammed by fraudulent timeshare companies. As specialists in the timeshare industry, we are committed to offering timeshare help in a fast, friendly and experienced service to clients. Contact MTS today for a free consultation on your timeshare matter and get ready to get a final relief from your timeshare.
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