Why Are Timeshares A Bad Idea?
Timeshares are very popular and heavily used in the travel industry, but are they a good idea? Timeshares are sold as dream vacation plans that offer a cheaper route than other travel alternatives. If only any of this was true. The fact of the matter is, timeshares are a bad investment for anybody and are a constant expense that will last for as long as you own it. People are usually sold on purchasing a timeshare resort by misleading salespeople who use deceitful tactics and lies to paint a false sense of reality.
If you have ever stayed at one of these resorts, you should know how determined and persistent their representatives can be in order to get you to attend a sales presentation. And if you have unfortunately had to suffer through one of these long-endured sales pitches, then you know first-hand how far they will go to get you to buy a timeshare. They will tell you everything you want to hear and use your weaknesses to your disadvantage. All the while brushing the most important details under the rug, so you are left unaware of what you are really signing up for. This has resulted in the emergence of timeshare cancellation companies, such as Wesley Financial Group, LLC, who fights against the timeshare industry and helps thousands of families terminate this burden from their lives.
Difficult To Use
One of the first lies people are told by a timeshare company is that they are purchasing a vacation property that will be the answer to all of their traveling dreams. Families are sold on the idea that they will have so many opportunities to create memories with one another all across the world. Timeshare salespeople pitch how easy it is to use their system and inform buyers that they will be able to book any of their resorts at any time. But is that true?
Typically after signing up to purchase a timeshare, the first thing new buyers will notice when they try using the property is how remarkably difficult it is to book any vacations. More times than not, in order to make a booking reservation with timeshare resorts, you will need to do so for a date that is up to 18 months in advance. This isn’t quite the convenience expected from a new timeshare owner after sitting through a strenuous sales pitch that promised the complete opposite experience. Many timeshare owners never receive a proper opportunity to make use of their property, which they most likely paid a great fortune for, due to the lack of booking availability.
Timeshares are expensive and after making a few of the upgrades that are heavily encouraged and pushed for by their salespeople, you are looking at a considerable amount of debt owed. All of that for a vacation home that you might only be able to use once a year, but even that can be unlikely. As much of a financial burden the cost of a timeshare mortgage already seems to be, we haven’t even discussed the annual maintenance fee yet.
Endless Maintenance Fees
Oh, the dreaded maintenance fees. Most timeshare owners probably scoff and roll their eyes whenever they hear those words. While the mortgage for timeshares will eventually be paid, maintenance fees never seem to end and actually increase in price with each coming year. Often, these fees are never even mentioned in the initial sales presentation, but that doesn’t mean they are not worth noting. Generally, these fees start out low and then increase overtime. Sometimes amounting to several thousands of dollars a year. The worst part is that they last for as long as you own the timeshare.
As mentioned above, timeshares are an expense and a drastic one at that. As a timeshare owner, one would think they would be able to make something back from such a sizable investment. First and foremost, timeshare properties have essentially no financial value, as they are unable to generate any profit and constantly decrease in value over the years. This is a very large financial commitment and one with not much reward behind it. Every year that you own your timeshare unit, you will continue to pour more money into it even though you know its value is decreasing at an unnerving rate. In fact, often timeshare don’t have any value at all.
Most likely, you have heard the joke of listing timeshares on eBay for $1 and still not selling. Except this is no joke, and honestly, the value of these properties is probably less than that. With no interest in the secondary market to rent or sell, these units are missing the investment aspect that was originally promised by those salespeople. They assure you that there is a huge resale market or that it is effortless to rent out. In reality, it’s those same salespeople who are undermining you as they offer lower rates and other incentives that attract all the new clients. There are just too many better alternatives than purchasing a used timeshare and draining away money on something so valueless and useless.
As timeshares continue to be a popular attraction in the traveling industry, their deceptive tactics and lack of value is becoming known among the public. Wesley Financial Group, LLC is a timeshare cancellation company that recognized how many people were being misled by these timeshare companies. They help to right the timeshare company’s wrongs by canceling timeshares and liberating thousands of people of their timeshare burden. Timeshare companies know what they are selling. That’s why they go all out with the trickery in their sales presentations, hoping buyers will be oblivious to their ulterior motives. Wesley Financial Group, LLC hopes to reverse the mistakes that so many make when signing up for a timeshare.