The old saying goes that, if it seems too good to be true, it probably is. Every day, millions of people are approached by timeshare salesmen. They are promised a gift card, a fully paid for dinner, or tickets to an event, simply for listening to a timeshare sales pitch. The salesmen glamourize the timeshare, making it seem like you can go on vacation, anywhere in the world, for a fraction of the cost. All you have to do is pay a small monthly fee, even when you are not using, or are not allowed to use your vacation timeshare.
Approximately 85% of timeshare buyers eventually regret their purchase, citing money, fear, confusing, intimidation, and distrust at their main reasons. Many would call timeshare purchases a scam and many buyers want to know how to get rid of a timeshare for the following reasons.
They never wanted to purchase it in the first place
Timeshare salesmen can be especially pushy. They can promise the world and make you feel guilty for turning down their vacation offer. For these reasons, many people end up signing up for the timeshare vacation. Yet, once they are at home and find that the terms are really not that great, they want out. They research how to get rid of a timeshare, and likely find that the research is not good. It is not easy to do a timeshare cancellation, especially before you have paid into it for many years.
They find it difficult to come up with the monthly payments
Most people are in a different frame of mind when on vacation. You are spending differently than you normally do. You are going out to eat and taking in different shows every evening. When you are on vacation mode, it is tempting to buy into something that will allow you to take even more vacations. However, many people do not consider the finances of this decision, until they are at home and already signed into it. Then, they are wondering how can I sell my timeshare? Selling a timeshare is not always a possibility. Some timeshare contracts specifically state that it cannot be sold. You might even have to work with a timeshare attorney to get rid of your timeshare contract.
They find that they owe more than the monthly payments
Timeshare salesmen are not always completely honest. They promise an increase in vacations, for a small monthly fee. However, they often fail to notify buyers of additional owed fees like taxes, association fees, and rental fees. In a 2016 survey, 66% of timeshare owners cited too high maintenance fees as a reason for wanting to get out of their timeshare contract. Nearly half *46%) identified maintenance fees as their most important reason for leaving. When these extra fees are added to the already high monthly costs, the affordable timeshare becomes not so affordable.
They never use the timeshare
Monthly fees for a timeshare vacation may seem acceptable when you are actually using the timeshare. However, once you go months or even years without vacationing to the timeshare location, the payments can become overwhelming. If you are stuck with a timeshare and are wondering how to get rid of a timeshare that you do not use, you might have to work with a timeshare attorney. To successfully cancel timeshare rentals, it usually requires the knowledge and legal experience of an attorney.
There are a total of 1,547 timeshare resorts in the country. This means that there are hundreds of thousands of timeshare owners. A large percentage of these timeshare owners want out of it, for a variety of reasons. If you are wondering how to get rid of a timeshare that you never use, cannot afford, or simply never wanted in the first place, it is best to work with a timeshare attorney.