[2008] Suze Orman Advice on Timeshares

[dioxide45]

On last night's show, Suze had a caller that had purchased a TS while on vacation in Orlando four years ago for $7000. Her advice was very limited. She suggested what would sound like upfront fee companies but discounted them indicating that she didn't think anyone actually bought from the companies you always see advertised. She more or less told the caller that they were stuck with their purchase.

I usually agree with her advice and Tivo her show every week. I think her knowledge in this area was limited. Her advice is to never buy one in the first place.

I remember late last year she had a caller on her Can I Afford It segment that wanted to buy a $100,000 Whistler TS. The caller had gobbs of money so she indicated that they could afford it, though she thought it was a bad idea. She really should have also suggested that they look in to the resale market and save $$$ over what they were going to pay developer.

 

[grest]

I was surprised too...I was expecting her to mention the resale market, or maybe even TUG..
Connie

 

[TUGBrian]

http://www.suzeorman.com/igsbase/igstemplate.cfm?SRC=SP&SRCN=layout_contactsuze&GnavID=7

=)

 

[judyjht]

I sent her an email and invite her to join us - maybe she will and we can teach her a few things. I love her show.

 

[JoeMid]

She's a ditz.

 

[lprstn]

I think some of her advice makes sense, however everyone's situation is different and some of us like to live and save...or may do what's considered to her risky. So I listen with an opened mind and do what's best for me.

 

[derb]

The truth is, any tug member online for over 6 months knows more about the economics of timeshares than any so called media experts.

 

[Steamboat Bill]

The truth is, any tug member online for over 6 months knows more about the economics of timeshares than any so called media experts.

I would shorten that to about 1 month.

 

[Brett]

The truth is, any tug member online for over 6 months knows more about the economics of timeshares than any so called media experts.

I would shorten that to about 1 month.

Isn't that the truth. makes you wonder about the rest of the advice of "so called media experts" !

 

[mimo0314]

Any one who logs onto e-bay and looks at timeshares knows the actual resale value of a timeshare. 0 can't be given away. The only investment that has 100% depreciation once you leave the showroom floor.

 

[Ken555]

Google is your friend. From 2007:

http://www.oprah.com/money/Getting-Out-of-a-Time-Share-After-a-Breakup

Time-shares are notoriously difficult to make money on. Check out sites like the Timeshare User's Group (Tug2.net) and eBay, both popular places to list time-shares for sale.

 

[1950bing]

I thought her advice was good.

 

[jlf58]

Although I don't mind her show, people like her live in a bubble. I know alot about housing and short sales and I have heard her advice on parts of that , that were way off base. She knows what she hears, not what she learns in the real world. 80% of her advice is common sense, thats all !

She's a ditz.

 

[DeniseM]

Please note that this thread is from 2008 and was brought out of mothballs by a newbie...

 

[AwayWeGo]

. . . Not That There's Anything Wrong With That.

Please note that this thread is from 2008 and was brought out of mothballs by a newbie...

Shux, some of us oldsters on TUG-BBS would rather revive dormant discussion topics than start up new ones willy-nilly.

( Just saying. )

-- Alan Cole, McLean (Fairfax County), Virginia, USA.​

 

[pwrshift]

Probably a newbie that got burned.

 

[sally13]

Suzie....

is more then a ditz...she cost millions of viewers their life savings,by her buy and hold market mantra..she is a patsy for the big banks and gets paid for her (hey girlfriend!) simplicity... to put it plainly...any advice of hers is old and the old rules no longer apply....

 

[dioxide45]

11/12/2011 Episode

On the November 12th 2011 episode during the #ASKSUZE segment, she had the following question "What are your thoughts on timeshare ownership?"

I found her response rather narrow minded.

"Oh well that's simple. If you have a thought in your head, you will not do it. Honest to god, they are the worst investment, they make absolutly no sense, once you have purchased them you can not sell them. You are not, do you hear me?. You are not not not not to ever to do a time ownership, such a waste of money a timeshare ownership"

 

[klpca]

On the November 12th 2011 episode during the #ASKSUZE segment, she had the following question "What are your thoughts on timeshare ownership?"

I found her response rather narrow minded.

"Oh well that's simple. If you have a thought in your head, you will not do it. Honest to god, they are the worst investment, they make absolutly no sense, once you have purchased them you can not sell them. You are not, do you hear me?. You are not not not not to ever to do a time ownership, such a waste of money a timeshare ownership"

While I agree with you about the narrow mindedness of her comments, some folks probably shouldn't own timeshares. There's a learning curve to utilize them efficiently, and some people don't want to spend that time. I think that Suzy's audience includes a lot of those folks.

 

[chalee94]

While I agree with you about the narrow mindedness of her comments, some folks probably shouldn't own timeshares. There's a learning curve to utilize them efficiently, and some people don't want to spend that time. I think that Suzy's audience includes a lot of those folks.

+1

if someone loves to travel (or has the time, savvy and energy to try to rent their weeks), then they should come here and invest 3-6 months in researching a purchase.

for all those with short attention spans, or who just aren't willing to investigate a potential purchase, suzy's answer was a reasonable soundbite...

 

[MOXJO7282]

TSing is becoming more and more for the experienced owner. Keep in mind Tuggers make up a very small portion of TS owners. The vast majority of owners are much, much less TS knowledgeable.

 

[timeos2]

TSing is becoming more and more for the experienced owner. Keep in mind Tuggers make up a very small portion of TS owners. The vast majority of owners are much, much less TS knowledgeable.

Well stated. As irritating as she is for most her advice about timeshare is right on.

 

[carl2591]

clark howard mentions TUG all the time...

I have been listening to Clark Howard for a good many years on radio myself. He has and does mention TUG on a regular basis when getting calls about how to get rid of timeshare. I am not sure if you has actually owned TS but seem to be very knowledgeable on the subject.

Suzzie is not as informed, on TS and other stuff, and show by comments made to callers. i don't really listen to her much due to her lack of knowledge on a lot of stuff.. girlfriend..

smells like moth balls in here... was this in a storage locker... wonder if brandi and jerrod bid on it.. looks like something they would buy... "Storage Wars" on A&E channel.. love that show Barry is very cool..

 

[post-it]

I find this topic interesting since I've also wondered what Suzi would think if I called in about a TS purchase.

If I could have a do-over after being on TUG:

Purchase re-sale and purchase within a days travel so I wouldn't have to deal with airline tickets if we can't afford the cost.

Otherwise, just happy I found TUG to educate me on how to get the most out of my TS, and advice on great resorts to trade into. I also didn't know how to use II until finding TUG.

Thanks everyone for the advice so far.

 

[timeos2]

smells like moth balls in here... was this in a storage locker... wonder if brandi and jerrod bid on it.. looks like something they would buy... "Storage Wars" on A&E channel.. love that show Barry is very cool..

LOVE Storage Wars (and American Restorations, American Pickers & Pawn Stars). Far better than anything new on network television today (Gordon Ramsey the possible exception). Keeps me paying for cable.