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Buying Time Share at Playa Grande

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petersonc2c

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I currently have one timeshare already that I bought on the secondard market. I have purchased 2 weeks in a new building that will be complete in 2007. My question is... where can I get low interest money for the purchse of this time share as I save $3000 if I pay the balance within 30 days. Any advice?? (The developer (Playa) will not allow me to purchase the time share on a credit card...purchase is cash or check only) Thanks -- any and all advice will be welcome.
 
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TravelSFO

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Do you own your primary residence? I'd recommend looking into whether you can get a HELOC (Home Equity Line of Credit) if you own and don't have one already.
 
gmarine

gmarine

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Petec2c said:
I currently have one timeshare already that I bought on the secondard market. I have purchased 2 weeks in a new building that will be complete in 2007. My question is... where can I get low interest money for the purchse of this time share as I save $3000 if I pay the balance within 30 days. Any advice?? (The developer (Playa) will not allow me to purchase the time share on a credit card...purchase is cash or check only) Thanks -- any and all advice will be welcome.
Click to expand...


A HELOC is a good idea however it has a variable interest rate. With interest rates on the rise it means your payments will go up as rates rise.

BTW, it really isnt a good idea to purchase a timeshare if you are going to finance it in any way at all. This is unless it is very short term then you plan on paying it all off.

Otherwise, long term financing of a timeshare isnt a wise financial decision.
 
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Barbeque

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My advice is dont buy from the developer. Buy on the resale Market. You should be able to pay 40 percent or less than what the developer charges.
Believe me I know I bought from a developer in Mexico several years ago. Do your homework dont be in a hurry the deal will be there in a week, or a month.
 
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petersonc2c

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Helc

Yes, i do own my own home. I need a short term swing loan for 6 months. I did find money for 3.99% however I was just curious if others pay cash or there are other opportunities for financing time shares.

TravelSFO said:
Do you own your primary residence? I'd recommend looking into whether you can get a HELOC (Home Equity Line of Credit) if you own and don't have one already.
Click to expand...
 
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petersonc2c

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Dear Don't buy from a developer

Hi and thanks for the response.

I did buy my first week for a bargain on the resale market. I have 3 weeks total, with 2 back to back weeks in a new building that will be complete in 2007. Two of the weeks are during the primary whale mating / birthing season. The view is awsome!

If you average out all 3 weeks I paid only $10,500 per week for each unit. Back to back weeks are hard to come by.... I do agree that you need to be very careful buying from the developer, however I do think all being said i'm happy with the purchase. CABO is a very hot area. Also, the beach is private...no vendors and a close walk to everything in CABO.

thanks so much! i am a new TUG user, so i am sucking up all the information on this site!! :rolleyes:


Barbeque said:
My advice is dont buy from the developer. Buy on the resale Market. You should be able to pay 40 percent or less than what the developer charges.
Believe me I know I bought from a developer in Mexico several years ago. Do your homework dont be in a hurry the deal will be there in a week, or a month.
Click to expand...
 
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