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So you bought a timeshare in Mexico? (2017)

Discussion in 'Mexico Timesharing' started by shoegal, Oct 2, 2017.

  1. shoegal

    shoegal Guest

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  2. pittle

    pittle Tug Review Crew: Rookie TUG Member

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    OK - I downloaded it to my Kindle since it was free with Kindle Unlimited (not free if you do not have Unlimited). I read it (took about an hour) and did not learn anything that has not been mentioned on TUG numerous times. Many Mexico threads are about as long as this book and say the same thing.

    I am one of the few folks that does READ the documentation when I get back to the unit, so have been know to go back the next day and get stuff in writing! I do know that most folks do not do that and that cannot be emphasized enough.

    We bought knowing that it was basically a partially pre-paid vacation and by having timeshares that we need to use, we made certain to take a vacation! We have owned as many as 7 Mexico weeks at one time. (Most were bought resale on eBay and later sold on eBay.)
     
    Last edited: Oct 3, 2017
    rpennisi, Karen G, mikenk and 2 others like this.
  3. mikenk

    mikenk TUG Member

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    Thanks for reviewing, Phyllis. I was tempted but didn't really want to take the time; you saved me the trouble.

    You're exactly right; most of the fundamental issues with timeshares anywhere is people don't take the time to read and understand before they shell out their hard-earned money - even when they have a leeway of 5 days to do it. Then they want an easy way to correct their mistakes. The book should be really short: Know what you want; know your alternatives; know and understand what is being offered and be honest with yourself; then decide and enjoy the vacations.

    Mike
     
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  4. shoegal

    shoegal Guest

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    I do agree, tugbbs is the best tool when it comes to ts troubles, then again its nice to have an overview of what to do in one single place, rather than frantically looking for clues. We've been there, haven't we all.

    But what actually really got me was the part about sales, how these people do what they do, how the whole thing works... I always wondered how they sleep at night. Pretty well in their luxurious lines, it seems. :mad:

    But what shocked me the most were the actual numbers. I did google the Amdetur timeshare association, did you read that part? Per year apparently more than 150.000(!!!!!) "foreign families" buy a timeshare in Mexico, I think we're save to assume these are American and a few Canadian families. I don't know what the average timeshare costs but a lot of money, that's for sure and this means a lot of people lose a lot of money. I've been on tugbbs for years and read many really really scary stories.
    So here is the website mentioned above, showing official numbers. Unfortunately only in Spanish but google translate is the best thing since sliced bread.

    http://amdetur.org.mx/el-tiempo-compartido-en-mexico/

    Those are CRAZY numbers considering that we know that ts sales in Mexico are rather pushy (nicely said) and some are scam. How come either government won't do anything about this and assure HONEST SALES for all people involved? Mexico of course is happy, they earn their taxes and tourists visit their country but the US gvt could pressure Mexico as well to protect US families when buying timeshares in Mexico. Unless people find their way to this group :)whooopie::whooopie::whooopie:), they are screwed. Oh, and I love to vacation in Mexico, nothing against their lovely country and people. Only against their timeshare people. Only my two cents.
     
  5. mikenk

    mikenk TUG Member

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    But let me play devil's advocate for a minute. While I realize my in depth experience is with only one timeshare company, I really have not seen any scam or anything illegal. Yes, the sales people are pushy and clearly lie but what is in the contract is indeed what you have. The contracts people make that fact very clear. In my business experience, people often promise things they really can't deliver just to get your signature. It is and always will be up to the buyer to do due diligence and nothing prevents the buyer from doing that.

    The problem is of course that on a vacation, people are vulnerable for spending money to perpetuate that vacation for years into the future. To be honest, I believe most people would do it again as they indeed get yearly great vacations - even if they realize they spent too much. TUG is great and fun for people to share how to get the most from their timeshare dollars but most timeshare buyers have never heard of TUG and enjoy their timeshares immensely. Others of course bemoan the fact that they have ongoing maintenance fees that they can't get out from under. My bet is there are more of those than people who feel they paid too much.

    Mike
     
  6. Phydeaux

    Phydeaux TUG Member

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    Personally, I feel I paid too much, and I'm tired of the MF's. We've outgrown our TS, and I regret the purchase. Outgrown in the sense that our vacation preferences have changed considerably. I doubt we'll ever vacation in any resort ever again. We now prefer small, private condos. No one to blame but myself. Classic example of a decision made based on emotion rather than logic. However, I'm not alone. Commercials, ads, etc. are countless offering people to get out of your timeshare. When we can no longer recoup our annual mf's through the monies obtained from renting out our ts, we'll walk away from it.
     
  7. rpennisi

    rpennisi Guest

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    I am not sorry for the Mexican timeshares I own because they expire in 25 years, and I can just walk away. It's the American timeshares I worry about because they have no ending. There is no walking away.
    I might outgrow the TS experience, but not yet. When I do, I don't know what I will do with the American timeshares. Mexican ones, no problem.
    In fact, when I have several years left on the Mexican timeshares (both MP) I might offer them for sale ($1) since they both have the vacation fair trade weeks in the contract and renew for 5 MF's. I have been banking them and am getting upgraded Vidanta trades and other superior non Vidanta trades.
     
  8. Ty1on

    Ty1on TUG Member

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    To your point, we purposefully bought a Velas with only two years left on it so we wouldn't be on the hook for long if we hated it. As it turns out, we love it, and will be strategizing a way to stay Velas members without paying Velas for the privilege once our last week is used. So, I think contracts nearing their end that don't have an onerous transfer fee have special appeal, even if they don't net any revenue on the transfer.
     
  9. MuranoJo

    MuranoJo TUG Member

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    Similar here. My RTU doesn't come up til 2024, but I have a holiday week that gets excellent rental rates, like 3-4x the m/f. Plus it has a VF week and only one m/f for transfer cost. I always thought I'd just let it go when the RTU is up, but it may be worth it for someone else to take over and even pay something for it.
     
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  10. rpennisi

    rpennisi Guest

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    You did a better job at due diligence that I did Jo. At the time of my buying my 2 MP contracts on Ebay in 2007, I didn't know about contracts that included the holiday weeks. I hadn't discovered TUG in 2007. My RTU's expire in 2026 and 2028. The 2026 is a two bedroom with a one MF transfer. The 2028 is a one bedroom with a 10% transfer ($1500). That one, by the time 2028 comes around, might be close to the one MF cost for the two bedroom transfer.:shrug:
     
  11. MuranoJo

    MuranoJo TUG Member

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    You're right, Ron, the one that's 10% may very well be close to the 'one MF cost' for transfer, depending on inflation. My contract allows them to charge up to 3% increase per year, depending on inflation and they seem to stick to it.

    It was dumb luck that I got the holiday week--bought resale and at the time DH was teaching so we needed holiday time. No big strategy for me, ha, it was my first purchase. But it's turned out well, thankfully.

    There haven't been a lot of holiday weeks for resale for some time, but there is someone on Redweek who's renting holiday time and her ads state she's willing to sell her two holiday weeks. I've never contacted her, but I've been tempted to.
     
  12. easyrider

    easyrider TUG Review Crew: Expert TUG Member

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    I like our Mexico timeshares but not enough to stay in a program for very long. This is mostly because the developers evolve the resort ownerships into different programs that make older programs harder to use. I do like a medium sized opulent resort with large pools and activities, on a clean beach, and these are abundant in Mexico.
    This resort I am now visiting is not bothering me to attend a presentation. They asked once and graciously accepted no. I like this.

    Bill
     
  13. T-Dot-Traveller

    T-Dot-Traveller TUG Member

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    Good point Ron -
    10 % transfer cost of original purchase of !5K may be close to 1 MF in 10 years . Perhaps $300- $500 more - but not enough to matter if someone wants the contract .
     
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  14. MuranoJo

    MuranoJo TUG Member

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    Good points above. Plus the evolution to newer programs or levels diminishes the value (perceived or real) of the older ownerships. Only problem about moving on to another timeshare system is there aren't that many that aren't AI these days.
     
  15. mikenk

    mikenk TUG Member

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    We have actually taken a different approach with our Vidanta ownership. We started with a Grand Mayan on a resale but have upgraded and adjusted to our current level with a lot of amenities. We don't see this as short term at all but an investment for our family to enjoy well into the future. We have been taking our kids and grandkids and soon great grandkids there for 10 years; it has become our extended family vacation home. I expect it will continue that way after my wife and I have stopped going.

    For this reason, I am glad they keep expanding. I couldn't care less about a Cirque theme park but the kids will enjoy it and I think I have positioned my contract so they can use it. We have 4 weeks booked next year all with family and friends; for us, this is what we want to do. We actually enjoy watching the growth and changes.

    I might well do some more upgrades in the future - I will always listen, but I think the days of free golf and senior discounts as incentives to buy are over, but I will still be thinking long term for our family.

    Mike
     
    Last edited: Oct 8, 2017
  16. rpennisi

    rpennisi Guest

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    While I haven't stayed at our Mayan Palace TS for years now, I do enjoy trading them with RCI to stay at upgraded Vidanta and other TS resorts (especially the Pueblo Bonito TS resorts in Mazatlan and Cabo San Lucas). As Jo writes, there are a limited number of non AI resorts to choose from.

    I have shunned the Vidanta updates in the last several years, but I have a new thought possibly for the future. Negotiate a limited time buy for a GM contract. Vidanta gets my 2 MP contracts with VFT and favorable transfer fees back, and I get a couple of GM weeks with no go no pay. This would be acceptable for a few reasons. As we get older, the long flights from NY get harder. My family, unlike Mike's don't vacation with us in Mexico (wimpy) but do in the US. I would guess a GM deposit into RCI would get more TPU's than MP (?). I would not have to "sell' (give away) those contracts as we get to the last few years.

    I still have a Las Vegas week that trades well in II, getting Marriotts and Grand Hiltons in the US and Grand Luxxe for Mexico.

    Any thoughts on that plan would be appreciated.
    Ron
     
  17. T-Dot-Traveller

    T-Dot-Traveller TUG Member

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    Hi Ron,
    I am not sure a GM will get more TPU's . I am mostly going by gut - based on the very narrow difference when exchanging into Vidanta
    and that the developer controls most of the deposits - one way or another .

    If your goal is using Grand Mayan it may make sense -
    but - I will think about it and send you a PM ( sometime this week )
     
  18. MuranoJo

    MuranoJo TUG Member

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    Ron, could you use RCI's deposit calculator and plug in a GM Resort ID & unit (pick a week) to see what TPUs would come up? You could try it with a variety of weeks, probably lower demand weeks as that's all they may deposit for you.
    Of course, the value will fluctuate depending on season, demand, inventory they have, etc.--but it would be one way to test it.
    (Unless someone owns GM and has deposit info. to share on this forum.)
     
  19. pittle

    pittle Tug Review Crew: Rookie TUG Member

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    Ron - we were in the same situation in that family does not travel with us so much anymore. Mostly for financial reasons - we supply the place, but they have to get there. Some have changed or lost jobs in the past 8-10 years and cannot afford to join us.

    We had the No Pay feature on 5 of our 6 units (2 GM and 4 MP). We upgraded to Grand Luxxe for basically the cost of MF for the one and Reno Fees for all to the end of those contracts. Therefore, it made sense for us to upgrade. We have only stayed at Grand Luxxe once in 4 years because the MF are pretty high to use both weeks each year for just the two of us. We still have our Buganvilias Sky Suite and a Pueblo Bonito Emerald Bay (that we use for exchanges) to pay MF for each year. We can get Bonus weeks for the cost of MF at Buganvilias.

    Just look at what you have and are obligated for for the remainder of your contract. (You do need to factor in the annual 5% increase for MF.) Then you can decide how much you are willing to pay for an upgrade. They will add the Renewal Fee into their figures, which we did not think was an automatic deal for us. New contracts renew in 10 years.
     
  20. MuranoJo

    MuranoJo TUG Member

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    Phyllis, it was interesting to me to see what little it really took for you to upgrade. Hmmm, food for thought. Though, you did have 6 units, so maybe that was part of the equation. Have you ever considered renting your GL since you're not using it as much?
     
  21. pittle

    pittle Tug Review Crew: Rookie TUG Member

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    We have not given much thought to renting. One of our friends did rent our units for a big family vacation and that worked OK. Several of our friends know that we are willing to do that, but they do not make plans far enough in advance so that I can get the weeks they want.
     
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  22. rpennisi

    rpennisi Guest

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    Thank you Tom, Jo and Phyllis. I will have to do some serious calculations before January and then do (shudder) a presentation. I am not ready to make the trade, but in a few years I might want to do it. On my two contracts, I have renos in 2018, 2021 and 2023. I am guessing there isn't one in the 25th year of each contract(?) except for the 5X MFs to renew, which as I stated before is not going to happen.
    Ron
     
  23. macmanrider

    macmanrider TUG Member

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    Yes we bought a timeshare in old Town Mexico. South from town on your way to mismoloya. Costa sur fixed week 4&5. Love it it's small has it's own beach and lagonn. All beach front views. There are 2 pools. And a beach. To lay around all day. But we are not ones to lay around. We go to town almost every day. Or take a water taxi outoof boca to another beach. Place to eat Tony's in mismoloya. No way Jose in town. Pancake house. There are great places to eat on the beach.and up the hill is Elizabeth Taylor's brunch. We have stayed at other resorts for a couple of days and you need a wagon to get all your stuff to the beach. And some don't have beach service. We like cocktails and food at the beach like our place.so for the $500 a week and transfer fees it was well worth it. And it will be up 2030 at that point we will make a decision to rebuy for another 30 years or give it up. Or sell it.
     

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