Timeshare salespeople will often tell you things that seem to be true, but turn out to be lies. Learning to spot these lies can save you from having to seek out timeshare cancellation services once you realize that a timeshare is not all that it is cracked up to be. Here are five common timeshare lies to watch out for.
Timeshares are an investment
One of the most common lies that you will hear from a timeshare salesperson is that your timeshare is an investment. They will trick you into thinking that timeshares appreciate in value like any other real estate investment. The truth is, the market is always flooded with timeshares, and they are far more likely to depreciate. Buying a car is a great analogy. As soon as you drive your brand new car off the lot, it loses value. The same is true of a timeshare. As soon as you sign the contract, your timeshare depreciates in value.
Reselling a timeshare is easy
Another thing that your timeshare salesperson will tell you is that you will be able to easily sell your timeshare (at a profit!) if you no longer wish to own it. This couldn’t be further from the truth. As we mentioned above, the timeshare market is extremely over-saturated, and finding a buyer can be tricky. If you do, you are most likely going to be selling at a loss.
You can trade your timeshare for a stay at other locations
An often talked about benefit of buying a timeshare is the ability to trade your week for a stay at another location, oftentimes at an exotic and exciting location. Most people that try to do this find that the experience is less than ideal. To make the trade, you often need to go through a third party agency. The most popular locations are often booked out well in advance, and require multiple weeks traded on your end to secure a single week at the new location; that is, if you can even find somewhere that is available when you are looking.
This deal ends soon
Most timeshare salespeople will attempt to create a false sense of urgency during their sales pitch. They will make you feel as though you must sign the deal immediately, or it will be scooped up by someone else and you will miss out. Like we mentioned before, there are so many timeshares on the market that there is never a sense of urgency. It is the definition of a buyer’s market. If you truly must own a timeshare, you have the luxury of being able to shop around for one that perfectly matches what you are looking for. Don’t succumb to the artificial pressure created in the sales room!
You’ll get a great tax break
Finally, you may have heard that buying a timeshare can net you some great tax benefits. Unfortunately, this isn’t the case for the vast majority of timeshare owners.
As you can see, salespeople will employ a wide variety of lies and half-truths to try to close the sale. If you have purchased a timeshare and are desperate to get out, we can help. We are the experts in timeshare cancellation. Call us today for your free consultation.