Thinking of Buying a Timeshare, but don't know where to start

[wallyboag]

In summary, my recommendation would be to spend some weeks (maybe even months) reading and absorbing all that you possibly can on TUG before considering buying anything. If you later decide to buy, do so only in the resale market, never directly from a developer. In the meantime, just rent --- and don't rush to buy.

Just my personal opinion from nearly three decades of timeshare experience (...including mistakes).

Thank you for the advice. Timeshare renting seems like a good plan. I've looked around at a few sights and it seems we can rent timeshares for about what a hotel would cost, so I think on our next vacation we will do that.

If we do rent at a timeshare will we be hit hard with a sales pitch? I've never actually gone to a timeshare sales pitch. When we go to Vegas we are frequently (as in ever 25 feet or so) hit up for a time share sale. We always blow them off because we figured it was a scam and whatever freebies they were giving wasn't worth the time...maybe we should go to one? Since we live near Disneyland I am sure there are a few out here we could go to. I guess I should look to find one that will give us the best freebies. If we're going to spend the time we might as well get some sort of reimbursement.

 

[theo]

No, no a thousand times NO...

If we do rent at a timeshare will we be hit hard with a sales pitch? I've never actually gone to a timeshare sales pitch. When we go to Vegas we are frequently (as in ever 25 feet or so) hit up for a time share sale. We always blow them off because we figured it was a scam and whatever freebies they were giving wasn't worth the time...maybe we should go to one?

Don't ever be lured in by worthless trinkets, baubles or low value "coupons" to attend a sales presentation.
Your vacation time is too valuable to squander in that demeaning, unproductive and stressful activity.

Fyi, developer sales "presentations" are generally only offered at facilities where the developer still has unsold weeks remaining and there is not yet a owner-controlled HOA in place. You can't predict that particular status of any resort until you actually know the identify of the specific facility at which you would be renting. All of my own current ownerships are at (non-chain) facilities where the developer is long gone, so there is no "sales presentation" pressure or option at all at those places. I left that "sales presentation" possibility behind when I dumped a single Wyndham ownership I had. Btw, Wyndham and Westgate almost seem to be in unofficial, undeclared competition for having the worst, most deceitful, lying and slimy sales force personnel within the U.S. timeshare world --- although there is otherwise certainly nothing wrong with Wyndham as a "product" (...if / when purchased at very low cost, via resale only).

It is vitally important that you understand and accept that sales weasels routinely lie through their teeth, exaggerating and misrepresenting all manner of details in order to make a sale. In other words, you won't learn accurate facts or the truth about the timeshare being "pitched" from attending such "presentations". You'll just hear exaggerations, misrepresentations and outright lies from hungry sharks. Your time would be better spent researching on TUG, where the info comes from folks with no agenda and nothing to "sell" you.

It's certainly your choice and your prerogative, but IMnsHO, "forewarned is forearmed"...

 

[dansimms]

Time share pitches

I agree that you should skip any timeshare pitches. Many will make you uncomfortable after 90 minutes of your valuable time and a persuasive salesperson may end up getting you into a contract that is far better for the developer than you. It is like playing with fire.

 

[Passepartout]

After you have hung around TUG for a while, you will be well enough inoculated with the 'retail timeshare presentation preventative' that you needn't worry about what to say to some salesweasel. As soon as you bring up 'resale', and show off a sheet of completed eBay auctions, they simply have nothing to say. Not that they can't make your stay uncomfortable, but your wallet will leave with you- intact.

Jim

 

[SYB]

As a HGVC owner in Orlando, my MF for a week are about 1100. I just looked at booking a 2 bedroom at one of the HGVC properties in Las Vegas and it would be $1673 before taxes. I picked a random week in February. Of course you have to factor in the initial cost too. We did buy from the developer but future weeks will be resale now that we are learning more.

 

[swditz]

before timesharing, vacations were an afterthought. Now that we have a financial stake in them they are a priority. We do much more now, and planning is a family event. If cost and expense is at the top of the list, it may not be a good choice, but as listed before there are a number of good reasons to do it.
If you do decide to purchase I would strongly recommend you get tug advice first on a planned purchase. I am still amazed when I see members who have been around a good while, asking for after the fact advise and already know it was a mistake. the knowledge here is awesome!

 

[cdnewmanpac]

I haven't purchased a timeshare yet, but I've been to a presentation. I thought the presentation was really useful and certainly financially justified. We got a week at the Hilton Waikaloa Village with a rental car for $900. Booking the exact same week in 2014 would be $1498 plus tax for hotel, $280 for rental car. We got an ocean view room, the sales presentation was low key and there was no way we were buying at those prices. But the manager logged into RCI and let us search for a while, the tour was nice and they were able to show us the current (2013) maintenance fees for a bunch of different properties.

As soon as I said no, they thanked us for our time and we were on our way. To me, the "pressure" of 90 minutes of polite talk was totally worth the almost $1000 (if you include taxes) we saved by taking this offer.

 

[theo]

Comparing apples and oranges...

I haven't purchased a timeshare yet, but I've been to a presentation. I thought the presentation was really useful and certainly financially justified. We got a week at the Hilton Waikaloa Village with a rental car for $900. Booking the exact same week in 2014 would be $1498 plus tax for hotel, $280 for rental car. We got an ocean view room, the sales presentation was low key and there was no way we were buying at those prices. But the manager logged into RCI and let us search for a while, the tour was nice and they were able to show us the current (2013) maintenance fees for a bunch of different properties.

As soon as I said no, they thanked us for our time and we were on our way. To me, the "pressure" of 90 minutes of polite talk was totally worth the almost $1000 (if you include taxes) we saved by taking this offer.

I'm glad that your "presentation" experience was beneficial, but I would respectfully submit that the "presentation" style and experience of (higher end) Hilton, Hyatt, or Marriott is quite a bit "different"
(...and I'm exercising considerable restraint and being very charitable just leaving it at "different"...) than the presentation "experience" foisted upon unwary innocents at Wyndham and / or Westgate.

The presentation experience at Wyndham and / or Westgate is very closely akin to that of a small baitfish being tossed into an enclosed tank of hungry piranhas.

Just sayin'...

 

[ronparise]

I'm glad that your "presentation" experience was beneficial, but I would respectfully submit that the "presentation" style and experience of (higher end) Hilton, Hyatt, or Marriott is quite a bit "different" (...I'm exercising restraint and being charitable just leaving it at "different") than the presentation "experience" foisted upon the innocent at Wyndham and / or Westgate.

The presentation experience at Wyndham and / or Westgate is very closely akin to that of a small baitfish being tossed into an enclosed tank of hungry piranhas.

Just sayin'...

The little bit Ive read on the Marriott forum tells me that the sales force at Marriott is learning from Wyndham...or at least they are both learning from the same book. I havent seen it myself, but I dont think that there any less lies flying around a Marriott salesroom than a Wyndham one. Or that the sales tactics are any less "high pressure" or the salesmen any less insulting, at either place

 

[csxjohn]

...The presentation experience at Wyndham and / or Westgate is very closely akin to that of a small baitfish being tossed into an enclosed tank of hungry piranhas.

Just sayin'...

Or a seal evading a shark.

http://content.time.com/time/covers/0,16641,20131230,00.html

Many are not as fortunate as the seal pictured here.

When I saw this cover it immediately reminded me of those here on TUG who say they enjoy going to the presentations.


(If I knew how I'd put the pic here instead of the link.)

 

[Rent_Share]

The link will probably be removed for copyright infringement

Right Click on the Image - Copy the URL Type

 

[cdnewmanpac]

I'm glad that your "presentation" experience was beneficial, but I would respectfully submit that the "presentation" style and experience of (higher end) Hilton, Hyatt, or Marriott is quite a bit "different"
(...and I'm exercising considerable restraint and being very charitable just leaving it at "different"...) than the presentation "experience" foisted upon unwary innocents at Wyndham and / or Westgate.

The presentation experience at Wyndham and / or Westgate is very closely akin to that of a small baitfish being tossed into an enclosed tank of hungry piranhas.

Just sayin'...

Fair enough, but the OP had mentioned Hilton and seemed like someone looking for information. If you are prepared and capable of exercising restraint, I think a Hilton (or Hyatt, if you say so) presentation might be an additional source of information. And I disagreed with the description of incentives as "trinkets", since some offers to attend a presentation are for considerably more. There are plenty of people on these boards warning about the dangers of sales presentations, I just thought the OP might want to know there are scenarios where it could be useful/beneficial.

 

[wallyboag]

Thank you again everyone for all the help. I've been reading and researching, and it seems like Worldmark is the timeshare I should be looking into because:

A) There are several of them within driving distance from me (Anaheim, Solvang, Big Bear, Oceanside)

B) There are properties in the group at many large cities across the country

C) We can exchange for different properties without paying an exchange fee

Someone mentioned that the exchange fee thing might not be true as the rules are changing. Is this true? Can they change the rules on you like that?

I think we will rent a unit up in Solvang for a little getaway to see the quality and how timesharing holds up. I also really think we should go to a presentation with the absolute "No means no" attitude and maybe learn more about WorldMark and hopefully get some nice freebies. For the record, I'm very good at saying no to sales people. Car salesmen hate me.)

 

[theo]

My $0.02 worth...

Someone mentioned that the exchange fee thing might not be true as the rules are changing.
Is this true? Can they change the rules on you like that?

I claim no familiarity whatsoever with Worldmark. Nonetheless, I think it's still fair to say that any and every "chain" and / or exchange company can (and does) essentially decide to invent, impose and / or change their "exchange" rules, fees and processes --- almost at will.

For some specific examples in very recent years, I'd call your attention to the sudden invention of the "TPU" (Trading Power Unit) by RCI for all "weeks", as well as a new "tiered" RCI membership system (i.e., creation of a new "Platinum" level of membership). The exchange company Dial an Exchange (a.k.a. DAE) has also subtly created a two-tiered (...or should I say "caste"?) system for their membership with the quiet, sudden invention of a separate "Gold" membership level a very few years ago. With virtually all exchange entities, fees will of course periodically increase, as might be realistically expected.

I no longer "exchange", so none of these changes really affect me at all. Nonetheless, I watch trends and changes in the timeshare arena and cannot help noticing that entities in the "exchange" game can (and do) make significant changes to their systems and costs, virtually at will. How (or how much) such changes adversely "tilt the playing field", I defer to actual users for their views and first hand experiences.

 

[Rent_Share]

Someone mentioned that the exchange fee thing might not be true as the rules are changing. Is this true? Can they change the rules on you like that

Not the core program - You still get access to the 55 + Worldmark resorts without an exchange fee,

They just added (with a shorter reservation window to retain priority of original system owners) the ability for Worldmark owners to book available left over Wyndham Vacation Ownership (east coast biased) inventory and WVO owners to book left over Worldmark (West coast biased)
inventory for an additional exchange fee = Only Developer purchased credits qualify - so other than completion for left over inventory it's a non existent program for resale owners

Previously with Worldmark a few WVO units 1-2 were made available to Worldmark Owners, that had either developer credits or legacy resale credits pre 2006 - It seems that program was superseded by the one mentioned above. There was no additional booking fee, but the availability was so scarce, it was next to impossible to book.

 

[csxjohn]

... I also really think we should go to a presentation with the absolute "No means no" attitude and maybe learn more about WorldMark and hopefully get some nice freebies. For the record, I'm very good at saying no to sales people. Car salesmen hate me.)

With your limited knowledge of the product how will you distinguish between their lies and the truth?

I'm not saying don't go to get the freebies but as far as coming out with any real knowledge you will probably have to come back here to ask if this or that is true.

This board is the best place to learn about the system, not from the mouths of their sales force.

BTW, they could not offer me enough to sit through a presentation while on vaca.

 

[ronparise]

Thank you again everyone for all the help. I've been reading and researching, and it seems like Worldmark is the timeshare I should be looking into because:

A) There are several of them within driving distance from me (Anaheim, Solvang, Big Bear, Oceanside)

B) There are properties in the group at many large cities across the country

C) We can exchange for different properties without paying an exchange fee

Someone mentioned that the exchange fee thing might not be true as the rules are changing. Is this true? Can they change the rules on you like that?

I think we will rent a unit up in Solvang for a little getaway to see the quality and how timesharing holds up. I also really think we should go to a presentation with the absolute "No means no" attitude and maybe learn more about WorldMark and hopefully get some nice freebies. For the record, I'm very good at saying no to sales people. Car salesmen hate me.)

There is no fee to use your Worldmark credits for reservations at Worldmark resorts

If you deposit credits to either RCI or II and do an exchange, there is a fee (and there always has been)

Whats changing is that Wyndham is developing a system whereby Worldmark owners can use (exchange) their credits for reservations in another system Wyndham manages, called Club Wyndham Plus...Like RCI and II there will be a fee to do this

 

[VegasBella]

I agree with all the advice to buy resale (if at all) and to research research research!

Read here and also everything you can find online about the resorts you're interested in. And call the resorts to ask questions too. Take everything you read and hear with a grain of salt.

Also, to get the best price be patient: decide what you want then determine a fair price you're willing to pay. Then search for a seller willing to sell at that price. (you can set up ebay and google search alerts for the resort/system you want). Eventually you'll get it.


Sent from my iPhone using Tapatalk

 

[Vacationfuntips]

You must do your homework to see if timeshare makes sense for you and your family. You must learn about the company and system in which you want to buy into and see if it is easy for you to use. How far in advance can you plan ahead? You must look at your "bucket list" and places you wish to visit for vacation. Yes, with timeshare there are maintenance fees. My maintenance fees are average and that is a key factor for me. I purchased resale and not from the developer. I am very happy with my decision to purchase timeshare and buy resale. I purchased points and am not tied down to a specific week or a location. For my family this was ideal and I am able to use my points any which way I want for Prime Season or school vacations, etc...

What I like about timeshare is the ability for my family to travel to various locations. I can use my timeshare and pay my maintenance fees and get amazing savings for places I want to go to. I compare the cost of my maintenance fees to that of travel websites and what they charge for a hotel room, resort fees, taxes and such adds up and surpasses my maintenance fee. For me timeshare is a "No Brainer" I am ahead with my timeshare and I feel I get a great value. Plus I get better than a "hotel room".

I prefer the larger space while on vacation. I am happy to not have daily housekeeping service or to worry about leaving my room with my belongings a certain way each day before housekeeping arrives. Many resorts will give you fresh towels or linens if you ask them anyway. If not they usually have a washer/dryer in the room or close by for you to use. You can pack lighter this way too. Others would disagree with me and want daily housekeeping service. I guess it depends on your personality or what you expect on your vacation? What you are willing to do vs what you don't on vacation. I like having a full kitchen - just for the flexibility. With kids they are always hungry or want a snack etc... On vacation we still go to the restaurants - but if we want to stay in for breakfast or come back for lunch or even have a dinner in the room we can. We have options with timeshare.

My suggestion to you like the others have mentioned is to rent from an owner first before purchasing. Learn as much as you can about timeshare and the company/system you want to buy into? Do they allow internal exchanges without a fee? How easy is it for you to do external exchanges with the company you choose? How many resorts are close to where you live or want to travel? Are the resorts in the system with the company you want to buy into the quality that you would like to stay at? For me - Gold Crown quality is important. Amenities at the resort is important. Location is important. If my system has a resort in the location I wish to travel to - is the resort nice enough? Is the resort located on the beach if I want to go to the beach? You should decide on a company system that you like and would work best for you - it must also have resorts that you could see yourself and your family going to outside of your "home resort". Some people say points are points and it does not matter where you own because you can use them anywhere. For me that is good but knowing my deed is at a resort which I enjoy going to is also important. Maintenance fees not being too high compared to other resorts in my system is important too. The ability to get a reservation at my "home resort" is also important - ARP (Advance Reservation Priority).

I am one who uses my timeshare to go to destinations on my "wish list/bucket list but must believe I am getting the best vacation experience at a quality resort. If I can't find what I like in my system - then I go to RCI to find something special elsewhere. What makes me happy is I am saving money plus getting a better vacation than I otherwise would have if I did not have timeshare.

Pick a home resort that you would enjoy going to more than a few times. If you like it - then more than likely others will too. Make sure you purchase a points based system - for its ease and flexibility. Make sure you buy enough points to stay at least 1 week during Prime time season since you have a child and will need to travel during the school holiday vacation times. With RCI you can exchange into Disney Resorts too. My thinking when I purchased my home resort was that 1) I liked the location and was pleased with the resort and it's quality. 2) Would my children like this place as our home resort 3) If I wanted to sell or give away one day - it should be easy to find a buyer. In the mean time I am really enjoying the benefits. 4) If I can't vacation - then I can rent what I don't use to cover my maintenance fees and maybe even put some money in my pocket!

By the way, I purchased into the Wyndham system. There is no RTU restriction after a certain amount of years with a timeshare expiration for my purchase. I guess this could be a good or bad thing? It is a huge commitment. I own my deeded timeshare until I want to sell it or I can deed this to my kids for their use if they want it? I plan my vacations out and have had no trouble booking at 10 months out and getting what I want. I have made vacation plans at the 6 month reservation window too. I live on the East Coast. If I lived on the West Coast I would more than likely purchase Worldmark. With RCI I have purchased some Last Call Vacations under $300 for an entire week!

Read, Read, Read and learn from other timeshare owners on Tugbbs!

Good luck in whatever you should decide!

Cynthia T

 

[Michellemam]

[removed]

[Touting the resort where you work is considered advertising, which is not permitted on the bulletin board.]

 

[Brerrabbit]

Advice

Don't buy one retail, ever. Also, don't buy one unless there is some kind of provision that if you don't use it some year for some reason (illness, whatever) you will not have to pay the maintenance fees for that year. No use paying it if you're not using it. Of course there are probably none of them that are going to make that kind of deal with you, so that is just a roundabout way of saying don't buy one at all. Just rent one if you want to stay somewhere. If you want to stay there again next year, rent it again. That way you can walk away from it when you get to the "been there, done that" stage with it.

 

[Rent_Share]

Don't buy one retail, ever. Also, don't buy one unless there is some kind of provision that if you don't use it some year for some reason (illness, whatever) you will not have to pay the maintenance fees for that year. No use paying it if you're not using it. Of course there are probably none of them that are going to make that kind of deal with you, so that is just a roundabout way of saying don't buy one at all. Just rent one if you want to stay somewhere. If you want to stay there again next year, rent it again. That way you can walk away from it when you get to the "been there, done that" stage with it.

You are referring to a travel club, which most tuggers would advise renting instead of purchasing

 

[theo]

My Brother from the other corner of the country and I were typing at the same time, coffee's on me this time Theo

A moderator has removed the "outed" real estate agent's not-so-subtle advertising / self-promotion posts, as well as several other pertinent and well intentioned TUGGER responses thereto (including one of yours, btw).

Moderator(s) should certainly feel free to remove this (now orphaned) post #48 too, since it makes no sense now anyhow, just standing alone without any of the (...removed by a moderator) info or relevant context.

 

[Centurion]

Wyndham, Wyndham and Worldmark

I second this. For the best option I would consider buying a WorldMark on the resale market for a few thousand and trying it out for a while. WorldMarks typically hold their resale value so if you choose to get rid of it after a few years it will not be difficult to find a buyer at close to what you originally paid.

 

[Larry M]

You mention Chicago, DC, and Seattle. Sorry. Timeshares are limited or non-existent there.

Uhh, just spent the week before Christmas in the Hilton Alexandria in northern Virginia (suburban DC) courtesy of Wyndham. They tried (not very hard) to sell me points for use in the associated Wyndham property. It's a prime location if you like to go to the Mall (hop on the Metro) or go to the Udvar-Hazy Air and Space Museum. It's even a very pleasant walk on King Street in Alexandria if the weather is nice.

Before you ask, the answer is "No, I didn't buy anything. But I did accept the premiums."

Larry