Experts on our timeshare exit team know that many people go into a timeshare purchase uninformed. Knowing what to expect and the ins and outs of buying a timeshare can help make sure that you are satisfied and do not need to cancel or sell your timeshare later.
Buying a timeshare – a vacation property that you can use for a limited amount of time, usually once to two weeks out of the year – sounds like a dream for many people. Owning your own slice of paradise in Miami, Cancun, Denver, or anywhere that you vacation regularly might sound like a very appeal proposition. The problem with timeshares, according to our timeshare exit team is that most people buy them impulsively and as an emotional investment rather than considering the financial implications of owning a timeshare.
Often, people are unhappy with their purchase because they didn’t truly understand what they were buying. Our timeshare exit team receives hundreds of calls each month from timeshare buyers who were scammed by tricky timeshare wording or a shady timeshare deal. If you are considering buying a timeshare, it is important that you understand all the facts about timeshares so you can make a good decision and not end up trying to get rid of a timeshare later.
Firstly, you need to know that there are four types of timeshares on the market. They are:
- Fixed Week: In a fixed week timeshare, you own the rights to a specific unit in the same week, year in and year out, for as long as the contract stipulates. There is predictability, but also little flexibility and the potential for long-range boredom. With a fixed-week timeshare, the owner can rent out his block of time or trade with owners of other properties. This type of arrangement works best if you have a highly desirable location. Basically, this may be a great option if you purchase a timeshare in Cancun, but not if you buy one less desirable location because it will be hard to trade weeks and you will have very little variety in your vacation destination. Our timeshare exit team has also heard stories of consumers having issues with a fixed-week timeshare if their work schedule changed. Perhaps the second week of March worked great when you purchased the timeshare but now does not due to school or work schedules.
- Floating: If you own a floating timeshare, you can choose your own time during a given period of the year. This option has more freedom than the fixed week version, but getting the exact time you want may be difficult when other shareholders snap up many of the prime periods. So you may find yourself going to a ski resort in July or the beach in December. This may not be ideal for your family to have the most fun vacations.
- Right-To-Use: With this arrangement, the buyer leases the property for a given amount of time each year for a set amount of years. The developer maintains ownership of the property, however. This can end up being problematic if you want to sell your timeshare down the line. Our timeshare exit team also gets calls with consumers having issues if the developer sells the property.
- Points Club: These are similar to the floating timeshare, but buyers can stay at various locales depending on the amount of points they’ve accumulated from buying into a specific property or purchasing points from the club. The points are used like currency and timeslots at the property are reserved on a first-come basis. These may not be ideal for all buyers but some may be very happy with them. This is currently the most popular type of timeshare on the market because it does not come with any actual, physical ownership. No deeds need to be recorded or transferred. This also makes them much more difficult to sell.
Now that you know a little about the different types of timeshares, it is important to consider if any of them will really fit your vacation needs. Do you want to reserve the same week every year? Do you like the predictability of having your vacation spot and time already scheduled? Then you may want to look into a fixed-week timeshare.
If you prefer to have more flexibility but still plan in advance, you might enjoy a floating timeshare. Or a points club or even a right to use. However, you may find that once you have purchased a timeshare, you don’t enjoy it at all.
In fact, many buyers end up resenting their timeshare. The hot destinations are often booked years in advance so you may end up going to the same spots year after year. Instead of being a joyful experience, you may come to dread your family vacations. If this is you, you need to know how to get out of a timeshare, and we can help!
If you find yourself in this position, it is probably time to call our timeshare exit team to get help cancelling your timeshare. If you do a search of “how to get rid of a timeshare,” you will find a lot of advice, but most of it is not very good. Trying to cancel your timeshare yourself can lead to disastrous consequences.
Instead, let us write your cancellation letter for you and you can benefit from our satisfaction guarantee. Our timeshare exit team is here to help you get rid of your timeshare, for good.
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Want to learn, how to cancel timeshare or how to get out of timeshare scams. If you need a timeshare cancellation letter, our timeshare exit team can help you do a timeshare cancellation or if you want to learn how to get rid of a timeshare as fast as possible, we can show you how to get out of a timeshare. All we do seven days a week is timeshare cancellation.
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