question about timeshares? - PeachParts Mercedes-Benz Forum

JenTay · #1 03-31-2004, 08:24 PM

i got suckered into one of those timeshare viewing tours. the bribe was disney tickets. never again.

they wanted 15k upfront plus $600 per year in maintenance.

it sounds like a sucker's bet.

the way i see it a timeshare is a prepaid vacation. an expensive one.

they seem to be selling a bunch of them so maybe it makes sense to some people. just not me i guess.

when the guy finished his sales pitch, i asked him what he was smoking. that kinda put an end to the negotiations.

my question is...what the hell could possess someone to buy something like this? there's too many question marks in the deal for such a commitment.

what if i want to sell it? what if the company goes belly up? what good is the deed if the company goes away?

Ken300D · #2 03-31-2004, 09:26 PM

I can't tolerate the idea of being in a subdivision with a Homeowner's association annual fee of $35. Finally got into a non-subdivision lot. So I think the idea of a timeshare is totally out.

You'd be better off to invest the $15k and vacation off the interest.

Ken300D

kerry · #3 03-31-2004, 10:12 PM

I got suckered into one of those sales pitches for cheap Disney tickets also. One of the stupidest things I've done.
Where do those sales people find people dumb enough to go for their line?

Botnst · #4 03-31-2004, 10:23 PM

Quote:

Originally posted by kerry edwards
I got suckered into one of those sales pitches for cheap Disney tickets also. One of the stupidest things I've done.
Where do those sales people find people dumb enough to go for their line?

Tickets! Shoot, I wish I'd been smart enough for tickets, I went for Teflon cookware!

Unlike Jen, I suffered through the whole dang thing in smouldering silence waiting for my frigging pots and pans. Got home with them and they lasted like, a month. I think the Teflon was actually rubber cement. Kinda chewy and bland in a sort of Exxon sort of way.

They get suckers by offering the usual "too good to be true" come-on and people fall for it like a love-sick sailor in a Caribbean port ( I guess...).

B

GRCBoca · #5 03-31-2004, 11:19 PM

I had a friend who worked briefly in the time share industry. With a little research we figured out that pretty much everything stated in the sales pitch was untrue. The sales presentation was structured as a classic bait and switch. Sadly, the typical buyers
were the sort of people that look only at the monthly payment of everything they buy, never at the actual cost. A very ugly business.

MTI · #6 03-31-2004, 11:38 PM

The positive side is when the "Big Boys" like Hilton, Marriot and Hyatt got involved in "Vacation" sales. It's still a lot of $, but the new plans are much more flexible, with downsides. First, you don't get trapped into a specific week or unit, however that means that you might not get your first choice when scheduling a unit for your vacation. On the plans with more properties, you can transfer and use your "time" at other properties in other states or countries. Here in Hawaii, a week Marriott plan is worth two weeks at most other Marriot properties.

LK1 · #7 03-31-2004, 11:40 PM

Let's see, $15K X 52 weeks=$780K for a what? 1 or 2 bedroom apartment, plus collecting $30K a year for maintenance. Sounds like a good deal to me, NOT!
Wonder how they can give away all that free stuff and still turn a profit? You have to be really stupid. That being said, no one ever went broke underestimating the IQ of the American public.

Kestas · #8 04-01-2004, 12:42 PM

If you think it's a good deal that will work for you, and you MUST buy into timeshare condos, look into buying a used timeshare. There's a lot of people suckered into these timeshares that later want to unload. You can get the used ones for a song.

Freestyler · #9 04-01-2004, 12:51 PM

Quote:

Originally posted by kerry edwards
Where do those sales people find people dumb enough to go for their line?

You won't believe how many naive people that are out there..

Anybody want to unload som cash into a Nigerian adventure?

Freestyler

Glen · #10 04-01-2004, 02:48 PM

Like anything else, YMMV.

I've been to at least a dozen presentations and have come away with some nice gifts over the years. I still go to them if the "prize" seems worthwhile. The last two my wife and I attended netted us $250 in gift certificates to Robinsons and Nordstroms! And also some worthless travel vouchers, LOL.

Timeshare ownership is certainly not for everyone but it can be of value depending on your circumstances. You have to weigh your needs and wants against the cost and your anticipated use. This is where the value comes in...if you USE it and can take advantage of day-use priveledges and other services it CAN make sense.

Lastly, like Kestas said, if you decide it's right for you...buy on the used market!

crash9 · #11 04-01-2004, 03:21 PM

So when is a diet pill worth $153.00 a bottle??

Glen · #12 04-01-2004, 03:32 PM

Quote:

Originally posted by crash9
So when is a diet pill worth $153.00 a bottle??

When it convinces the buyer to change (and stick to) new eating and exercise habits in an effort to become fit.

mplafleur · #13 04-02-2004, 05:06 PM

Call me a moron, but...

We just bought a timeshare in Orlando last week. No, it's not a house, but I don't have the headaches of a house, and it's a lot cheaper.

Ok, only a week a year... Not actually. It's a Hilton and we get points. Enough to make it 2 weeks every other year. We can go to any other Hilton vacations club in the world and we're not tied down to any specific week. We can also go to any hotel/resort in the RCI network.

A friend of mine bought the same one in Orlando 4 years ago for $14k and it is now selling for $25k.

This 2 bedroom we bought is sweet. Better then any hotel room or suite I've stayed in. The place put the Embassy to shame that we were staying in just outside Disney. Plus, with a Hilton, it will always stay nice and we won't have any problem selling it when the time comes.

My brother bought one in Clearwater and that place is run down after new ownership. They don't even go there anymore. They go to a friends now.

Go with a name you can trust.

mplafleur · #14 04-02-2004, 05:12 PM

I think it's nice...

mplafleur · #15 04-02-2004, 05:15 PM

No hassle trying to find a chair at the pool...