Timeshares – Are They All A Pack Of Lies?
February 6, 2017
T/A Timeshare Compensation
Dear IPA Friend
An early start today – I am off to London with my eldest son Michael to talk to 140+ students about Dear Michael, Love Dad and our experiences with mental health issues. Meantime, we have received a press release from Timeshare Compensation about timeshare lies. Here’s what they have to say; some good points.
This is not a timeshare!
In any kind of arrangement that involves you sharing the use of accommodation without owning a share of that property, this is a timeshare. Whether the accommodation is a villa, club, apartment, or even a boat, where you use it for a short period of time on an annual or bi-annual basis, you are in a timeshare agreement.
You can get a bonus week on an unlimited basis!
You would actually be very lucky to even get one bonus week a year. These are almost impossible to get and definitely not available on an unlimited basis.
This is ‘gold crown’ accommodation!
Many salespeople claim that a resort is ‘gold crown,’ even though it’s not true.
Your ‘sleeps 4’ accommodation can be exchanged for a ‘sleeps 6’!
This is absolutely not guaranteed.
You can cancel any time, just by getting in touch!
Once the cooling period has passed, they will definitely not accept a cancellation.
This offer is only valid if you sign today!
This is something they tell everybody, every single day. In fact, you could probably get all the same benefits elsewhere at a fraction of the price…they just don’t want you to have time to find this out.
Your loan repayments will be just £300 a month!
You’ll probably find this not to be the case when the loan details actually arrive. Nor does it take account of annual maintenance fees.
Your ownership will allow you to exchange for another destination anywhere in the world, whenever you like!
This is almost never the case. In particular, if you buy a low season period, you will find that you are not eligible to exchange for a period in high season. If you buy into a points club, or a floating week system, this is all the more unlikely to be true.
Don’t worry about reading the paperwork!
If you aren’t given the opportunity to look over the paperwork, it’s probably because there is something in there that contradicts what they have told you.
You only have to pay the annual fees if you use the accommodation!
Whether the accommodation is used or not, you will be liable for annual fees. If your ownership is bi-annual (every two years), it may be payable only on those years. But otherwise, those fees will be payable every year.
The annual management fee is limited by control of the owners, and is limited to the rate of inflation!
Many resorts have increased fees by three times the rate of inflation in recent years.
Author – Mark Rowe