John Oliver’s take on Timeshares

[HuskerATL]

maybe some random person was also equally satisfied, because here at TUG we strive for 200% satisfaction guaranteed!

And 200% it is.....because random folks do get input from the people getting direct education from TUG, i.e. in the hot tub at a resort chatting about properties/use, FB groups, friends and family.....my wife hears more about TUG discussions than she has ever wanted to listen to.......and if it didn't lead to her laying on a beach somewhere, she would probably tell me to shut the hell up.

 

[Ken555]

If you’ve seen even one other episode of John Oliver’s show, you’ll know that its whole point, its whole reason for being, is outrage. The angle on every topic he takes on is “look at how terrible this thing is; let’s all get mad together!!” So highlighting a forum where reasonable, intelligent people gather to share helpful information and best practices doesn’t fit the tone or the angle of the show.

I would say there’s a great deal of cynicism here with respect to the timeshare industry’s terrible practices, but not a lot of outrage.

And as with other opinion shows, it has a vocal and enthusiastic following. Some of those followers even think it’s “news”. But it’s really entertainment, designed to provoke a response (in this case, humor and outrage). I haven’t watched JO in a long time, but when I do I find it amusing and mostly interesting…but I certainly don’t consider it news.


Sent from my iPad using Tapatalk

 

[TUGBrian]

Thank you for posting this example. I have made copies and put it with our important papers.

I have a few more questions @alexadeparis and other lawyers who post on TUG:

Does the process change if you have a revocable living trust (which ultimately becomes a trust after death). i.e. do you need to bother filing since it is the trust that owns it (and trusts don't need credit ratings!) Can it simply remain in the trust after all other assets are distributed, so it dies with the trust. i.e. can beneficiaries of the trust simply notify the trust (instead of the state) that they don't want the asset, the trust stops paying for the timeshare and lets it foreclose?

If process does not change, do you still need to register the trust in any state that the timeshares are located and the trust beneficiaries file these forms?

@TUGBrian can we place this somewhere in a sticky? (perhaps we need a new thread on this important topic?)

we have an article on timeshare after death, perhaps it needs an update to include!

 

[CalGalTraveler]

I didn't know such an article existed. Can someone provide a link? I will file it with our materials.

 

[The Colorado Kid]

And 200% it is.....because random folks do get input from the people getting direct education from TUG, i.e. in the hot tub at a resort chatting about properties/use, FB groups, friends and family.....my wife hears more about TUG discussions than she has ever wanted to listen to.......and if it didn't lead to her laying on a beach somewhere, she would probably tell me to shut the hell up.

@HuskerATL DITTO on the wife comment!

 

[timsi]

John Oliver did a great job describing the industry, very well researched. Few minor errors (like the owners have to attend the owners updates, that is actually not true) and he spent too much time on the exit companies. The exit companies only exist because of the sheer number of people who are desperate and who already lost a lot of money because they have been duped into buying a program that is expensive and in many cases does not as described. It is interesting he mentioned that 85% of owners are not happy with their timeshares but Marriott claims a suspiciously high satisfaction rate. That should tell us something about their polling skills and methods.

 

[TUGBrian]

I didn't know such an article existed. Can someone provide a link? I will file it with our materials.

What happens to my Timeshare when I die

Will my kids be forced to inherit my timeshare when I die

tug2.net

 

[rickandcindy23]

I watched it last night. In general i agree with what he said about wastegate and wyndham. Of course this group of people on TUG, that has learned how to use timeshare, is likely the outlier/exception. It was intended to alert the general public, but it makes it more difficult to explain the true benefits of timeshare when people watch this sensational stuff. Then they look at me like i'm stupid for owning and using them.

I empathize. I can be here on Maui, staying for six weeks at a time, all in timeshare, and people ask me how we can afford it, I tell them, and they look at me like I have STUPID written on my forehead.

There is a definite lack of information about resale in the video, but is it comedy or is it a warning?

 

[billymach4]

I empathize. I can be here on Maui, staying for six weeks at a time, all in timeshare, and people ask me how we can afford it, I tell them, and they look at me like I have STUPID written on my forehead.

There is a definite lack of information about resale in the video, but is it comedy or is it a warning?

John Oliver is like news intertwined with sarcastic entertainment on whipped up fiction.
While we know the truth... He has taken the subject matter and created much humor.

A few years back he lambasted the town of Danbury, CT for spending millions on a sewage plant. He ridiculed the town. So much so that the Mayor honored John Oliver with the name of the Sewage plant.

 

[billymach4]

Boughton announced on Facebook that the city would be renaming their sewage plant the "John Oliver Memorial Sewer Plant", explaining that "it's full of crap, just like you, John".

John Oliver Memorial Sewer Plant - Wikipedia

en.wikipedia.org

We need a Timeshare Resale Company in Honor of John Oliver!

 

[TUGBrian]

We need a Timeshare Resale Company in Honor of John Oliver!

timeshare exit squared wasnt real????

 

[HuskerATL]

timeshare exit squared wasnt real????

M'Wanda would tell you that it is....only $20k and your taken care of.....

 

[dioxide45]

Sadly there are those out there that will take advantage of people by trying to help them get money back when they have been scammed by exit companies or other upfront fee scammers. The timeshare industry is riff with scams and ARDA and its members need to recognize this and help to fix it. Including their own problems. The problem is that they won't.

Perhaps it will take some other outside player to come in and shake things up? Perhaps we need Virgin Timeshare? (like Virgin Voyages)

 

[billymach4]

Sadly there are those out there that will take advantage of people by trying to help them get money back when they have been scammed by exit companies or other upfront fee scammers. The timeshare industry is riff with scams and ARDA and its members need to recognize this and help to fix it. Including their own problems. The problem is that they won't.

Perhaps it will take some other outside player to come in and shake things up? Perhaps we need Virgin Timeshare? (like Virgin Voyages)

I have always vouched for Costco to enter the timeshare market. But they are too smart. They know to stay far away.

 

[ScoopKona]

You get an A for rationalizing your decisions! But then, you were in timeshare sales!

Had you bought resale, you would be in an even better position today.


Sent from my iPad using Tapatalk

My week cost around $12K all in. It was upgraded to a better week for zero dollars 10 years ago. Prior to the upgrade, we got 2-3 weeks of vacations out of each maintenance fee. And since the upgrade, 3-5. A fair average of total vacation days per year -- 21 days. Average maintenance fees over the 25 years we have owned it? $1300. Up until an assessment last year, we have never paid more than $1500 per year.

So, ((1300 x 25) + 12K) / 525 days = $85 per night.

Yes, I'm still QUITE happy with my purchase. Even happier with the fact we've taken more than two years off for vacation during the prime of our working lives and it had zero effect on our finances.

 

[Ken555]

My week cost around $12K all in. It was upgraded to a better week for zero dollars 10 years ago. Prior to the upgrade, we got 2-3 weeks of vacations out of each maintenance fee. And since the upgrade, 3-5. A fair average of total vacation days per year -- 21 days. Average maintenance fees over the 25 years we have owned it? $1300. Up until an assessment last year, we have never paid more than $1500 per year.

So, ((1300 x 25) + 12K) / 525 days = $85 per night.

Yes, I'm still QUITE happy with my purchase. Even happier with the fact we've taken more than two years off for vacation during the prime of our working lives and it had zero effect on our finances.

Great! But what would it have been had you bought on the resale market instead?


Sent from my iPad using Tapatalk

 

[ScoopKona]

Great! But what would it have been had you bought on the resale market instead?

About $10 bucks a night less.

 

[CalGalTraveler]

We are holding a family reunion with extended family members joining us over a 3 week period this summer in Hawaii. We have reserved/traded for a total of 6 weeks of 2 bdrm timeshares. This would be cost prohibitive if we tried to accomplish this by renting.

- one member has late stage cancer in remission. This may be the last chance for her to travel to Hawaii to be with everyone.
- several members live in the midwest and have never been to Hawaii before
- we have several seniors in their 70s and 80s, who may not be healthy enough to travel sometime in the near future.

What's a timeshare worth for this family reunion? Priceless

 

[Ken555]

About $10 bucks a night less.

Really? Every timeshare I know of has a much larger discrepancy in retail:resale, though I suppose it makes sense that would narrow after as many years as you have owned it.

 

[Ken555]

What's a timeshare worth for this family reunion? Priceless

Great example. Years ago I reserved multiple Harborside Atlantis weeks and 13 of my family gathered for a week. We would never have done it had I not bought and learned how to use timeshares, much of which credit is due to TUG.

 

[ScoopKona]

Really? Every timeshare I know of has a much larger discrepancy in retail:resale, though I suppose it makes sense that would narrow after as many years as you have owned it.

Also because I'm getting three and four weeks at a clip on one maintenance fee.

Like laser printers and toner -- the cost of the printer doesn't really matter as much after many years of service.

 

[Ken555]

Also because I'm getting three and four weeks at a clip on one maintenance fee.

Like laser printers and toner -- the cost of the printer doesn't really matter as much after many years of service.

I normally redeem 19-24 nights per year for one of my weeks. I've learned the game, but the first rule is not to buy retail.

 

[ScoopKona]

I normally redeem 19-24 nights per year for one of my weeks. I've learned the game, but the first rule is not to buy retail.

I was working for the company at the time. I made it all back in increased sales thanks to owning the week and being able to pull up my account (I always left points until the last minute) to show people real-world examples.

Hyatt, when I was working there, was terrified of the internet. The only reason they had it was to access interval. And they preferred that people use the printed Interval book. It didn't help that everyone who worked there typed with two fingers and thought people could hack into their house and turn their lights off and on during the era of floppy disks.

 

[timsi]

About $10 bucks a night less.

Really? These were probably the times when a hotel room was 7 dollars

 

[ScoopKona]

Really? These were probably the times when a hotel room was 7 dollars

You could look up what they cost in the late 90s.

We spent the bulk of our vacations in Europe, with a kitchen, for about $85 per night. (It was more than that when we started because we hadn't amortized the initial purchase -- but I knew what the numbers would be after 10/20/30 years.)

I was happy back then. I'm particularly happy when I get a week at Highlands Inn in Carmel for about $85 a night.

For the right sort of person, timeshare doesn't just work. It works better than nearly anything else. As I said earlier, there wasn't any real competition until AirBnB arrived.

Most people should just stick with hotels or AirBnB. They have no business owning timeshares because that requires doing both homework and some legwork. Hotels-dot-com is the easy way.