What You Can Buy With the Money Saved From Exiting a Timeshare Contract

What You Can Buy With the Money Saved From Exiting a Timeshare Contract

After tapping into an enormous amount of patience, you’re finally free and clear of timeshare ownership. Whether you cancelled immediately or made the decision after many hope-filled years, exiting a timeshare contract can be a huge relief. Not only have you halted monthly payments and perpetual fees, but you’ve eliminated the frustrations of hindered vacations. There’s nothing worse than spending a ton of money on something that never seems worthwhile. Especially when you’re forced to pay for it. Aside from routine costs, the repercussions of walking away can be disheartening to say the least. But that season of your life is over now and many of you are wondering what to do with the extra cash.

Before Spending Your Extra Cash After a Timeshare Exit..

For starters, jot down lessons learned so you don’t make the same mistakes again. There’s a big difference between forgetting about the timeshare and learning from it. Look, vacationing is never going to be cheap. You should know by now that affordability doesn’t necessarily mean you’re getting the “best deal.” In most cases, you get what you pay for. At the same time, the failed timeshare experience should give you an enlightened perspective on travel expectations. Use the past purchase to help you determine what you want out of a vacation and make sure the product matches the description. Keep in mind, plenty of scams populate the travel industry.

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With that being said, exiting a timeshare contract has probably caused you to consider getting your finances back in order. Most timeshares end up being a lot more expensive than buyers originally planned. After interest, the average timeshare price tag ends up being around $40,000. Over 10 years (which a common repayment period), this is about $333/month. When you add in annual fees, the monthly cost inches closer to $450. While it may be tempting to reallocate these funds after cancellation, establishing a plan, coming up with goals and monitoring your finances is the fastest way to alleviate a loss and the regret that comes with it.

What You Can Buy With Timeshare Savings.

Even though you may already have a wish list, we thought it would be fun to point out the types of things you can purchase once you’ve been relieved of the perpetual obligation. Since most people aren’t prepared for annual maintenance fees (or an unexpected assessment), we’re going to assume your original budget for the timeshare was $350. Keep in mind that exiting the timeshare contract actually saves you quite a bit more. But aiming low will help you understand the impact that cancellation can make.

All things considered, we’re going to list some items you could buy 6, 12, 24 and 36 months after you’ve completely paid off timeshare expenses. This includes any financed amounts to cancel it. The longer you’re able to save, the more capabilities you’ll have. These opportunities should create a little excitement around your decision.

6 Months After Exiting a Timeshare Contract Saves You $2100.

One of the biggest drawbacks of vacationing is the simple fact they always come to an end. Although it tends to be quite expensive, people still go. The national average for one person to go on a week-long vacation is $1,145. Unless you’re traveling alone, $2100 isn’t going to get you very far. So what’s the point of wasting this amount on a lackluster experience just to get out of town? Saving for another 7 months will give you enough to take your family of 4 on vacation (average cost is $4,580). At the same time, there are plenty of purchases you can make with $2100 that don’t expire after one week. Here are a few..

  • Minor home improvements (landscape, security systems, etc..)
  • A new purebred puppy for the family.
  • A smaller off-road vehicle or watercraft (dirt bike, jet ski, etc..)
  • High-end electronics (camera, computer or TV’s with surround sound).
  • New home appliances (refrigerator, washer, dryer, etc..)
  • Diamond jewelry and other gifts for a spouse or loved one.
  • New furniture (kitchen table, sofa or patio sets)
  • A premium massage chair.

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Aside from vacationing, there are also some additional short term purchases that could be worth it for $2100.

  • An hour-long helicopter tour for 4-6 people.
  • Enrolling in classes for an online degree.
  • Sponsor a club, sports team, animal shelter or other non-profit.
  • Paying off debts.

Keep in mind, these are all things you can purchase with the amount of money it costs to own a timeshare for 6 months. Some people aren’t even able to book their annual vacation after paying double this amount every year due to timeshares overselling their inventory.

$4200 Will Remain in Your Bank Account After One Year.

Buying a timeshare causes many people to forget about their way of life prior to the purchase. Some of you have been timeshare owners for decades and are used to setting aside the monthly amount to avoid additional fees (or the thought of foreclosure). It can be tough to adjust properly after exiting the timeshare contract. But those that make the transition seamlessly tend to see an impact other areas of their lives as well – mainly regarding self control. So if you’re able to avoid major purchases for the first year, you’ll find yourself with a nice wad of cash. If saving for a year was long enough, here are a few ways you can spend $4k+.

  • 3-4 Annual Signature Passports to DisneyLand.
  • Minor home improvement or small remodeling projects.
  • Nosebleed tickets to the Superbowl or premier seating at another major sporting event.
  • An off road razor, motorcycle or ATV.
  • A new bedroom set.
  • Attend a world class seminar or receive personal development training.
  • A riding lawn mower.
  • Camping equipment and a used fishing boat.
  • A golf cart with a solid set of clubs and a tee time.

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24 Months After a Timeshare Exit Gives You An Extra $8400

After you’ve gone a year and a half, you’ll be able to consider vacation packages that are a big step above what you were used to with the timeshare. International travel or popular U.S. destinations can now be considered if you’re traveling for two. With a little over $8,000 in the bank, you could even think about buying a nice used car or truck. A smaller travel trailer could even also be had for this amount of money.

Aside from higher end products from the lists above, you could also put money towards equipment, electronics or technology – whether your need it for business or personal use. For some families, this might be enough to cover Christmas gifts. You could even consider buying a decently bred horse (you might want to have a stable first though). $8400 could be used to add a lot of value to your home. Maybe you’ve been waiting for enough money to improve your outdoor living space. It’s enough to start considering a full room remodel. After 2 years, these are all possibilities once you’ve been relieved of your timeshare obligation. Waiting 2 more years to cancel can really leave you wondering about what could have been.

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3 Years Post Timeshare Exit, $12,600 is Saved.

If you’re serious about saving your money, there are endless ways you can reap the rewards of exiting a timeshare contract. After 36 months, you’ll save nearly $13k by escaping the clutches of ownership. This is enough to put a down payment on a house, buy a new car or plan a real vacation. You could even re-carpet your house or invest in some major home improvements that you’ve been pondering for a while. Although a swimming pool is probably out of the question, you could still invest in a hot tub or small pond if you’d like. Maybe you could even get the band back together, who knows!

Either way, establishing a budget, setting goals and managing your finances will put you in position to use your hard earned money for something worthwhile. Instead of continuously funneling capital into something that was never fruitful, you made an intelligent decision that’s benefiting your future. While not all timeshares are bad, some can be absolutely devastating. This is why the disclosure of actual costs is so important.

To put this into perspective, most timeshare owners make the purchase thinking it’s going to only cost them $20,000. In just 3 years, most people have unexpectedly surpassed that amount. Imagine what can occur after a decade? With maintenance fees steadily increasing, who knows what the total of the perpetual purchase could be. Exiting a timeshare can be a life-changing decision.

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Exiting a Timeshare Contract with VOC.

If you’ve recently exited your timeshare, congratulations. If you’re considering doing so, then we’d love to tell you more about what cancellation entails. During our Free consultations, we focus on learning more about your situation prior to explaining the qualification process. This helps us best advise you on next steps. Some owners don’t even need us to help them legally exit a timeshare contract. At the same time, if you believe canceling is your only option, you can get started by proceeding to our qualification form below.

What To Do After You Get Rid of Timeshare Obligations For Good

What To Do After You Get Rid of Timeshare Obligations For Good

When we wrap up the termination process with our clients, many tell us it feels like an enormous weight has been lifted from their shoulders. The stress and hopelessness that comes with the expense can be exhausting to say the least. But the relief of cancellation is invigorating for most. Aside from creating financial limitations, the burden of the purchase can also take a toll on personal relationships. Buyers aren’t the only ones forced to deal with the disappointment. Vacations that were once anticipated can easily turn into a sore subject when expectations aren’t met for multiple people. After owners finally get rid of timeshare obligations for good, they may feel like they need to make up for lost time. But don’t get too excited just yet.

While the concept of timesharing may have lost its appeal, former owners may look to quickly right their wrong. But it’s important not to act out of spite or in haste. Scam artists have been known to target those exiting timeshare contracts. Resorts also have effective follow up practices that lure desperate travelers back in. But instead of advising you on where to turn for your travel needs or how to spend the money saved, we decided to take a different approach. One that forces you to reflect on your failed timeshare experience and what went wrong throughout the process. The goal here is to help you acknowledge your missteps and avoid making the same mistakes going forward.

1. Assess the Loss of Timeshare Ownership

Before wiping the timeshare property from your recent memory, it’s important to set aside time to analyze the purchase. This will help you make more informed decisions and avoid future impulse purchases altogether. When assessing your loss, the first thing you’ll want to do is acknowledge how much the timeshare expense actually cost you. Compare it to what you thought it was going to cost. Sales teams use a lot of misspeak during presentations and normally don’t include taxes, interest and annual fees during their proposal.

Come to terms with how you were misled and try to understand how the salesman hid this information from you. Once you start to realize how you were duped into buying, you’ll be able to identify other elements of the purchase that were misleading. What initially intrigued you about attending the timeshare presentation? Were you targeted online, at an event or through the mail? Each of these tactics can tell you a lot about how and why you were targeted.

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The way you were persuaded can also tell you a lot about your susceptibility. What caused you to trust the salesman? What questions were you asked and how were your answers used against you? What questions did you ask that were inevitably avoided or ignored? Did anything distract you from your gut instinct during the presentation? If you bought multiple upgrades or invested in timeshare relief programs, why did you make these decisions? What was said during these sales that caught your attention? Understanding how you got into the hole you were in can be enlightening to say the least.

Learning from a regretful purchase is the best thing you can do. It’s what you need to do if you ever want to move on. At the end of the day, there’s no need for you to project your timeshare experience onto other opportunities. Not everyone wants to scam you. Besides, you could potentially help other people on the verge of making similar mistakes. Having to get rid of timeshare obligations isn’t something to be ashamed of. It’s pretty bold when you think about it. Many remain stuck in the never ending cycle. Your story could impact someone else’s fortune!

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2. Ease Back Into Traveling, Recoup From the Loss

Purchasing another timeshare may not be on your agenda, but traveling without being strapped for cash might be. Now that you’ve gotten rid of your timeshare obligation for good, it might be tempting to take the first flight out of town. But taking a break from traveling may actually help you regroup. Spending more money to fill a void isn’t necessarily going to make you feel better about the loss. Especially if timeshare payments have caused you to get behind on bills or investing in other needs. Once you’re free and clear of your contract, try turning your attention to everything that’s been hindered by the purchase.

Have you been putting off home or car repairs due to financial hardship? Do you owe anyone money? Do your kids need some new clothes? Could you use some personal maintenance? Taking care of needed expenses first helps you avoid extending the regret of ownership. Has your family enjoyed dinner out on the town lately? Is there a relative or friend you haven’t been able to visit for a while? Just because the timeshare didn’t transpire doesn’t mean you have to splurge on a magical vacation to make it all go away.

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If you need time to recover financially, then it’d behoove you to take a break from your travels. But if you believe in routine escapes, there are plenty of little trips you can take. Create a list of things you can do locally or within a few hours drive. Ease back into your travels and create a budget you can stick to. If you have a travel itch that simply needs to be scratched, just keep it simple. As long as you’re able to get away and spend time with those you love, nothing else really matters. In the meantime, write down some financial goals and start setting aside money for a future trip. Planning a sensible, budgeted vacation with your spouse, kids or friends gives everyone something to look forward to.

3. Save Money and Maximize Your Next Vacation

While getting rid of timeshare obligations frees up a lot of cash, saving it can be very rewarding. Whether you canceled your timeshare after 3 months or 30 years, you’re still going to want what you initially paid for. Whatever your reason for canceling was, you probably still want what you paid for. Unfortunately, ripoffs normally don’t include restitution. That’s why steps 1 and 2 are so important. After you’ve assessed and recouped your losses, planning a trip the right way becomes easy.

Forcing a vacation or buying the first deal that comes your way is rarely fruitful. Some of the most memorable vacations tend to be those that were either thoughtfully put together or spontaneous (road trip, staycation, etc..). Avoiding expensive trips at first will be worth it in the long run. Making sacrifices in response to your loss helps you avoid traveling on a tight budget in the future. Take responsibility for the decision and make the best of it for now. If funds are limited, the unexpected or an appealing attraction (you can’t attend) could ruin the entire trip.

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The key to life after a timeshare exit is the plan. The more people on the same page the better. Setting expectations and being realistic about anticipations helps you develop an itinerary that pleases everyone. When plans aren’t rushed and money isn’t scarce, the outlook is promising. Waiting to go on vacation until after you finally get rid of timeshare obligations ensures everyone enjoys themselves. From here, you can leave the poor timeshare investment in the past.

4. If You Really Want a Timeshare, Start Researching Resorts

Getting rid of a timeshare agreement doesn’t mean you have to give up on the concept for good. Not all experiences are bad. Most don’t work out because buyers just aren’t cognizant of what they’re purchasing. If you’re still intrigued by fractional ownership, but don’t want to make the same mistakes, then start researching your options. Join online forums or social media groups to learn more about the ins and outs of the industry. Ask the right questions and gain a better understanding for timeshare terminology. A “right to use contract” or a travel club just might suit you better.

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Either way, today’s travel opportunities are endless. Whether you’re a global traveler or you only need a few weekends at the beach per year; the perfect solution is out there for you. You just have to find it. Don’t let the opportunities sell you. Ignore the bright, screaming advertisements and find something that makes sense. Take the things you’ve learned from your experience and apply them. Don’t allow yourself to be persuaded and never forget how worthwhile a well-planned vacation can be. If there’s a chance the resort can’t deliver, or the offer seems too good to be true, there’s no need to rush. It can be especially devastating if you have to get rid of timeshare obligations twice.

For more information on our cancellation services, you can schedule a FREE consultation or visit the qualification form below.

7 Tips For Attending a Las Vegas Timeshare Presentation

7 Tips For Attending a Las Vegas Timeshare Presentation

Sin City provides local timeshare companies with an advantage when it comes to targeting new fractional owners. Besides the draw of Las Vegas itself, many tourists are easily persuaded while visiting the city of lights. Unreasonable spending and an overwhelming number of distractions make it easy for resorts to sign travelers to a perpetual (lifetime) agreement.

Since our previous article highlighted some of the ways timeshare companies lure consumers to the desert, we thought it would be helpful to prepare our readers for a Las Vegas timeshare presentation. Nearly everyone that purchases a timeshare vacation while on vacation doesn’t anticipate doing so beforehand. Many take the bait because they’re unaware of the tactics that salesman use during the presentation. Most of them don’t even know what a timeshare actually entails. This allows sales reps to dance around disclosure while puffing up the purchase. As you can imagine, it puts attendees at a tremendous disadvantage.

VOC’s Vegas Timeshare Presentation Tips:

Whether you’ve traded a few hours for a free gift in Vegas or you anticipate being pulled off the street during your Vegas vacation, here are a few things to chew on before you consider signing any dotted lines.

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1. Prepare for a Hard Sell and an Over Promised Product

Before you walk into a timeshare sales presentation, it’s important to realize that everything sold (or given) to you will sound appealing. The sale is focused on making you feel like you need the property and that you can afford it. If there’s anything you take away from this article, it should be that the experience will be painted a lot more grand than it really is. It’s highly unlikely your exhilaration will exceed what it is at the point of sale. If it sounds too good to be true, then it probably is.

Don’t allow yourself to be distracted during the presentation. Although the thought of buying into fractional ownership may sound perfect, never make a hasty decision while visiting Vegas. Wait until you get home to sleep on it. Unlike most purchases, you can’t just dump a timeshare if it doesn’t work out. Besides the resale market being nonexistent, signing a timeshare contract exposes you to a number of additional hard sell tactics that can drain your wallet quickly.

2. Do Some Homework on Timeshare Contracts Beforehand

Before attending a Las Vegas timeshare presentation, you have to understand that all timeshare sales reps are paid handsomely in commissions. Their livelihoods and lifestyles are driven by your signature. The best part for them is they never have to see or hear from you again. It’s their job to create so much urgency that you don’t even think about looking up actual reviews or researching the legality of your purchase.

Vegas timeshare sales teams are paid to nurture you into making a purchase on the spot. Some sales reps will say anything to accomplish this. Las Vegas is even more cutthroat. These people are really good at what they do. They know how to ask the right questions in order to present you with intriguing options. If you know a little bit about what you’re getting yourself into, then you’ll be able to identify false statements and blatant lies. The fact of the matter is, sales misspeak has been penalized quite a bit in the timeshare industry. Getting up to speed on deceptive practices before the sales pitch can help you avoid a big mistake.

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3. Document the Vegas Timeshare Presentation.

While this may sound like a silly thing to do while you’re on vacation, taking notes (of the sales pitch) will actually help you enter and exit the presentation with confidence. Believe it or not, people that say “No” to a Vegas timeshare may end up toiling with their decision throughout their vacation. When you take the time to do your homework and take notes during the spiel, then doubt can be eliminated altogether. This is important because you don’t want to return to the resort begging for another “deal”.

Documenting a Vegas timeshare presentation creates clarity and helps you ask the right questions so you can get the right answers. Highlighting what entices you most and finding out what each actually entails will help you determine if your intrigue is real. Being able to cross reference your interpretation of the deal (or what’s being presented) with the actual agreement is invaluable.

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4. Request a Copy of the Timeshare Agreement

While “mulling over the contract” isn’t going to be music to a salesman’s ears, it’s necessary that you do just that. Asking for a copy of the timeshare agreement is absolutely imperative. If you’ve prepared for the Vegas timeshare presentation and taken notes throughout, then you have no reason to avoid a cross reference.

Sadly, many timeshare owners agree to a perpetual contract they know nothing about. Don’t be another statistic. Although pushback should be expected, be persistent and willing to walk away if they’re unwilling to provide you with your own copy. If you can’t confirm what you have written down, then run. At the end of the day, verbal agreements mean nothing in a legal battle.

5. Compare Your Notes with the Timeshare Contract

If there’s one thing worth mentioning, it’s that going over the contract with the sales rep is rather risky. We’d like to remain consistent here and remind you to consider the purchase after your vacation is over. It’s never beneficial to review the details of a major purchase with the sales rep. You’ll never be able to disengage from your initial intrigue.

When it comes to buying something of this magnitude, it’s important you make sense of what’s being presented to you. With that being said, at least make sure statements made during the Vegas timeshare presentation are actually in the contract. If the details are inaccurate then nothing about the purchase should appeal to you.

6. Don’t Let the Pressure of “Buy It Now” Misguide You

Understanding what to expect out of sales jargon (or commission breath) may not be enough to help you lean on logic. We’d be remiss if we didn’t prepare you for additional statements that can lead you to believe taking a risk is worth taking the deal. Aside from persuasive misspeak, timeshare sales teams are very good at making you feel guilty for saying “No.” One of the ways they do so is by pressuring you to take advantage of “today only” offers and promotions. Don’t take the bait.

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The price of the timeshare only increases when you believe the offer expired. If you return expecting to pay more, you will. Ironically, if you continue to push back, the pricing tends to magically become more favorable. If you feel like their offer might be too good to pass up, we still encourage you to avoid giving in. Tell them you want to think about it. If they want your business then any valid offer on that day should be valid at the time you want to move forward. Refusing to give you time to review the purchase should be a major red flag.

7. Don’t Let “Free” or “Complimentary” Gifts Cloud Your Judgement

As aforementioned, being lured to the Entertainment Capital of the World with promising intrigue is a common step of the timeshare sales process. But it doesn’t start and stop with the invitation. During most Las Vegas timeshare presentations, “free” and “complementary” items are frequently offered to prospects so they stay longer. What was supposed to be 90 minutes can easily turn into an all day event. The longer you’re engaged, the more likely you are to buy the timeshare. Sales teams know this. Whether you want to pursue additional “free gifts” or not, you don’t have stay longer just to get what was originally promised to you.

If “90 minutes” of your time was required for you to receive “XYZ” then the resort is legally required to provide you with “XYZ” once you’ve served your time that was advertised to you. Keep in mind, escaping the presentation can be tricky in itself. Expect to be passed off to 5 more “closers” who’re trained to sweeten the pot so you’ll sign the timeshare contract.

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In this scenario, continue to reiterate what you’re legally owed and reference the advertisement that brought you there. If they fail to comply, they’re violating existing laws that regulate advertising. They should know the punishment is pretty severe. When you’re able to specifically pinpoint their misconduct, getting what you came for becomes easy. Moreover, taking advantage of these 7 tips allows things to work out in your favor. If you want to Viva in Las Vegas then you’ll need to look past the tactics of timeshare companies.

If you recently visited Vegas and feel as though you’ve prematurely signed up for a timeshare contract, we’d be happy to provide you with a free consultation. If the purchased product doesn’t match what was verbally told to you, then you have every right to cancel the agreement.

Why Las Vegas Timeshare Owners Want to Get Out of Their Agreement

Why Las Vegas Timeshare Owners Want to Get Out of Their Agreement

When most people plan a destination vacation, entertainment normally plays a big role in their decision. Although some prefer a quiet escape with minimal distractions, most people travel to do what hasn’t been done or see what hasn’t been seen. In Las Vegas, Nevada, there isn’t much that doesn’t catch your eye. The city’s ability to grab and hold one’s attention span is unlike any other point of interest in our country. For example, it would take one person 288 years to stay the night in every single Vegas hotel room.

Nearly every American citizen has been to Las Vegas at least once in their lifetime. Some people never leave once they arrive. It’s been estimated that over 1,000 people live beneath the city of lights in underground tunnels. A few people even find pleasure in not being able to remember what transpired during their stay. The popular slogan, “What happens in Vegas, stays in Vegas” is the real deal. People looking to get loose for a weekend or two seem to be able to do so without any regrets. Not many places have been able to thrive with that motto.

While this only adds to the element of what has become known as “Sin City,” there is still a tourist draw to the Entertainment Capital of the World. Some people enjoy themselves so much that they plan multiple vacations to the strip every year. The lively, recreational landscape changes so much that they’re able to relish in something new each trip. Although gambling, sensuality and partying might headline most recommendations, live shows, sporting events, business seminars, product launches and people-watching can be just as appealing to travelers.

Either way, we can all agree that there is something for everyone on the 4.2 mile long strip in the middle of the desert. You don’t have to look at the city from space to know that it’s one of the most radiant places on Earth (actually the brightest from space). If it wasn’t so alluring, people wouldn’t be so willing to cash out in Nevada instead of a tropical paradise elsewhere.

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While Las Vegas may not seem like an ideal place for timeshare developers, it most certainly is. There are plenty of ways they use the city to maximize revenue. Although it may not be ideal for an American traveler to buy into an annual vacation across the World, Las Vegas always gets their attention. So before we explain why Las Vegas timeshare owners are exiting their contracts, let’s discuss a few of the deceptive practices being used to get people to make a lifetime travel commitment to Sin City.

The Las Vegas Lure is Advantageous for Timeshare Companies.

Since Vegas timeshare developers don’t have to spend a lot of time selling people on the perks of the city, all they have to do is dangle the idea of a free trip to garner attention. This simplifies their approach, unlike sales tactics for timeshare resorts in other parts of the country (or world). Most consumers tend to know what a “trip to Las Vegas” entails. This gives resorts an advantage when investing in cold calling techniques and direct mail campaigns. Although solicitation efforts have dwindled in the timeshare industry today, many consumers will listen to discounts in locations that already interest them.

Regional Outreach Efforts Entice Proximate Residents

When it comes to outreach methods, Vegas timeshare companies understand their biggest opportunity lies in neighboring states and cities. Geographical proximity targeting increases their ability to sell fractional ownership because of the convenience of the package. Whether prospects are being targeted through the mail or over the phone, the possibility of them driving to Vegas to check out the offer is a lot higher than other geographical locations.

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Since Las Vegas is located in the center of multiple major U.S. cities, this gives developers an advantage when luring people to the Entertainment Capital of the World. Come to think of it, we have offices in Scottsdale and Malibu that are only a few hours from the strip. Sales teams have already been known to say anything to get people to a timeshare presentation. It’s a lot easier for them to lure aspiring travelers to Vegas with a “complimentary” stay or for “a deal of a lifetime.” In the timeshare marketing world, this technique is called a “mini vac.”  Their job becomes easier once they get you to Vegas.

What many people don’t realize is that there are some drawbacks to accepting “free” offers. In order to use certain entertainment packages and perks, guests are required to jump through certain hoops. Normally, attending these requirements take up a majority of their trip to the strip. If you refuse to follow through with “your end of the bargain” (even if you weren’t briefed), you could end up with some unexpected situations that can be costly in themselves.

Targeting Travelers During Their Vegas Trip.

Vegas timeshare solicitation doesn’t stop with cold calling and mailers. Timeshare companies know there is a huge advantage to targeting travelers during their vacations to Sin City. It’s easy for them to reel in tourists that are stuck in a state of vacation euphoria, looking to enhance their experience. In Vegas, a majority of these people aren’t in a clear state of mind and resorts know it. The Las Vegas Sun even did a piece on how tourists are bucketed and targeted. Thrill seekers and those intoxicated (or hung over) are easy to engage and manipulate. The loose spending habits that normally accompany Vegas travelers also gives resorts an upper hand.

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As the article states, Vegas tourists are easily persuaded to attend a “free” show, dinner or nearby activity with little resistance, in exchange for 90 minutes of their time. If attendees are already enjoying their Vegas experience, they’re normally intrigued by the idea of something free. Once they’re pampered a little, returning to Vegas every year at a discounted rate sounds even better.

What starts off as a brief, “no purchase necessary” invite quickly turns into an all-day event. From here, many travelers leave with a $20-40K mortgage on top of a perpetual timeshare contract they know nothing about. Nearly every buyer walks away believing they made a good decision. They normally don’t realize they made a mistake until booking their timeshare becomes problematic down the road.

The Main Reasons Vegas Timeshare Owners Want to Cancel.

At this point in the article, you can probably assume why so many people want to get out of timeshare agreements in Las Vegas. Misspeak and commission breath is believable when you’re on vacation, especially in Sin City. Thousands of travelers say yes to something that doesn’t match the description. They quickly realize they’ve been duped into buying something they can’t even use. Once payments kick in and they receive their annual fees, their desperation to cancel can go into overdrive.

Aside from being misled, many timeshare owners struggle to even enjoy their purchase. Finding availability in a popular tourist destination (during ideal dates) can be nearly impossible. If you split the contract cost with someone else, conflict regarding usability may arise. Certain properties can even be difficult for aging travelers to access. Layouts and amenities sometimes hinder those with medical conditions or parents with young children. At the end of the day, many Vegas timeshare owners are left unable to use the vacation but are still required to pay the dues.

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While timeshare owners always have the option to pursue upgrades or exchange programs, they’re often left reeling throughout their experience. Once the “too good to be true” offer is seen for what it really is, fractional ownership is tarnished. Paying more for a property you’ve yet to experience can be hard to stomach over time. With all of that being said, it’s easy to understand why so many buyers want to get out of their timeshare agreement as quickly as possible.

It’s Never too Late to Cancel Timeshare Contracts.

Although listening to an intriguing sales pitch about routinely vacationing in Vegas may entice you, we urge you to proceed with caution. It’s always important that you don’t make a hasty decision during the heat of your trip. Often times, your judgement will be clouded and you won’t be able to make a rational decision. A Vegas timeshare isn’t something that’s only going to cost you a few thousand bucks. It’s a lifetime agreement that funnels you into a perpetual sales cycle that’s hard to escape.

If you feel that you prematurely signed up for a timeshare and believe you’ve been deceived, we’d be happy to help you exhaust your options. Timeshare cancellation only makes sense if the contract doesn’t match the original sales pitch. You can schedule a Free consultation to learn more or you can proceed with a timeshare qualification form below.

7 Reasons the Future of Timeshare Ownership Looks Bleak

7 Reasons the Future of Timeshare Ownership Looks Bleak

Over the last decade, the timeshare industry has done little to keep up with the evolution of destination travel. While technology and online booking continues to advance, the tactics and value propositions of timesharing have essentially remained the same. The diminishing number of uninformed consumers has begun to work against new acquisition as many consumers have begun to lose faith in the purchase.

Knowing what timeshare ownership might entail is enough to persuade vacationers to pursue other travel options. Instead of waiting for timeshare companies to get with the program, consumers seem content with watching the entity fade off into the sunset. Unless the industry makes a hard right turn, it’s difficult to envision a mass recovery over a mass exodus.

Even if things were to change, will it ever be enough to overcome a half-century long reputation? Let’s take a look at some of the reasons why we believe the future of timeshare ownership is looking bleak.

1. The Increasing Costs and Liability of Timesharing

Over the years, certain occurrences have caused vacation ownership to steadily rise in cost. Besides general inflation, developers didn’t properly assess demand during most of their expansion efforts. In the early years, decisions seemed to be based on opportunity instead of probability. When timeshare ownership wasn’t able to sustain its popularity (due to bad experiences and mistrust), resorts turned to current owners for the difference. What they didn’t realize was, this approach affected the perception of happy fractional owners.

Because timeshare companies are now left scraping the barrel for gullible consumers, expansion opportunities are ceasing to exist. This forces them to sell more aggressively while charging more per unit. Over the past few years, timeshare maintenance fees have been steadily rising at 4-5%. Surprise, special assessment fees have become more common. Resorts have found ways to recoup earnings when acquisition slows down.

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According to the ARDA (2016 AIF Owner’s Study), 66% of timeshare owners wanted to exit their contract because “the maintenance fees are too high.” Moreover, 46% of those that cancelled a timeshare mentioned annual fees as their primary reason. Small increases can amount to thousands of dollars over time. What makes this interesting is that resorts have notably avoided proper upkeep at some resorts. Not only are users not getting what they paid for, but they’re paying more for lower quality. The liabilities that come with these decisions are one of the reasons we believe the future of timesharing looks bleak.

2. There is No Resale Value for Timeshare Properties

Like we’ve mentioned in previous articles, a good number of new timeshare owners aren’t aware of the actuality of the resale market. Aside from the misspeak that timeshare sales reps use to persuade potential buyers, there are a ton of misleading options that take advantage of those looking to exit timeshare contracts. Once they realize that reselling isn’t ideal, it’s too late. Attempting to sell something that no one wants can be extremely costly. Throwing more money at something they don’t want and can’t make any money on can be demoralizing. Many of our clients talk about how they’ve spent thousands of dollars on resale platforms that didn’t provide a single lead.

Learning that you were lied to during the timeshare presentation and realizing the market doesn’t exist can be hard enough to swallow. On top of this realization, many timeshare owners underestimate the number of scams that cloud the resale arena. Just ask Darren Kittleson. When things aren’t working out and all hope seems lost, predatory agencies know exactly how to persuade you otherwise. They always have a meticulous agenda that uses disappointment and desperation to their advantage. Although platforms worth trying do exist, the overall uncertainty creates a bleak outlook for the industry as a whole.

3. The Timeshare Industry is Now Flooded with Scams

When it comes to timeshare fraud, the mischief doesn’t just dwell in resale. Victimizers also dabble in the buyer’s market from time to time. Claiming to have amazing deals in premier destinations, they lead people on long enough to collect quite a bit of cash. Verified Craigslist posts and Ebay listings have milked travel enthusiasts for decades now.

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At the same time, these are only a few examples of the consistent and ever growing misconduct in the timeshare industry. People are now being scammed before the purchase, during ownership, while they attempt to exit the contract and once they’ve terminated the agreement. If you’re already disgusted by the lies your timeshare company has fed you (to keep you under contract), realize this is only the tip of the iceberg.

Scammers know how trapped most timeshare owners feel and how desperate they’ve become. There are plenty of angles they can take to deceive you into believing their solution is worthwhile. From advocacy groups to legal representation, it’s difficult to know what to believe anymore. Anything seeming “too good to be true” normally is.

Some 3rd party agencies even work with resorts to ensure timeshare owners don’t make progress with cancellation. Not to mention that a large percentage of timeshare exit companies aren’t real. Thousands of dollars have been wasted on resolutions that don’t even exist. It’s a real shame, but only adds to the stigma of the industry. Even if you’re able to finally cancel your timeshare agreement, scams surrounding travel clubs, vacation rentals and advanced payments can flood your inbox – due to your online behavior. Since many consumers and industries refuse to touch timeshare with a 10 foot pole, the future looks bleak.

4. Today’s Travel Options Are Valued More by Travelers

Instead of waiting to see if timeshare companies are willing to overcome the reputation they’ve built (at the consumer’s expense), travel enthusiasts are now pursuing vacations that better suit their needs. Perpetual contracts just don’t make sense anymore as luxury vacation rentals and retail resorts are prevalent in today’s society. While scams do exist in other travel options, a number of platforms have established themselves as trustworthy entities.

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When timesharing first came about, most people were thrilled to be able to afford a vacation in a place they’d never dreamed of visiting. The ease of global travel has given consumers the unique ability to explore the world without being tied to one location. Although points and exchange programs broadened the horizon for timeshare owners, availability and quality was still a problem.

For the most part, today’s vacationing options consistently meet the expectations of travelers. The experience usually matches the presentation. Even if small inconveniences occur, the user isn’t tied to payments. They also have an ability to review their experience to order to warn future travelers or find resolve with the property. Timeshare companies have failed to value the user experience. Because of this, the future doesn’t look bright for timeshare ownership.

5. The Evolution of E-commerce in the Travel Industry

Options for travelers is only one element of timeshare competition. Since fractional ownership is based on perpetual (or lifelong) agreements, retail travel makes more sense. One click bookings have taken the market by storm over the last decade. Consumers now flood to reputable sources for online vacation deals and packages. Travelers even have the option to schedule flights, lodging and a rental car in the same place. It’s very difficult for the timeshare industry to compete here.

Even online retailers are now pushing timeshare weeks without ownership. Air BnB, VRBO and HomeAway are currently dominating vacation rental. Because of the user experience, travelers now feel far more comfortable using consumer to consumer e-commerce sites for travel related bookings. Removing the middleman (Ie: timeshare company, rental and resale platforms) allows them to keep everything in front of them. Instead of believing in “promised solutions,” timeshare owners are now taking matters into their own hands. This alone should tell you how standoffish people are about the timeshare industry – whether it comes to perpetual agreements or retail access to their inventory.

online-travel-has-changed-the-timeshare-contract-for-good-and-caused-owners-to-see-a-bad-outlook-for-the-market

6. Timeshare Companies Have Been Overselling Inventory

Ever since the timeshare rush in the late 1900’s, developers have been selling non-existing products. As the points evolution grew, this became even more popular. It was a way for timeshare companies to, once again, keep buyers under contract. It’s almost as if they never saw the repercussions of doing so. Overpromising and under delivering has never really been fruitful. It’s just not sustainable when it comes to large purchases.

In a recent article, we wrote about the ramifications Midtown Manhattan Club received for selling unavailable reservations. Although the property remained full, this rightfully angered their users. You’d think they’d at least limit the inconvenience when selling air. In the end, the NY Attorney General required them to pay $6.5 million in restitution, amongst other things. This goes to show that regulations are increasing and timeshare companies are no longer able to just get away with unethical sales practices. For this reason, the outlook of timesharing doesn’t look good.

7. A Consistent, Perpetuated and Tarnished Reputation

If you analyze each of the aforementioned reasons, you’ll realize that the timeshare industry has had every opportunity to redeem themselves. But the growing level of greed has basically clouded the entirety of experience altogether. Temporary solutions have sprouted up, but have failed to actually address the problems timeshare owners have. The thing is, it’s not like timesharing has only been around for a short while. For nearly 60 years, the industry has compiled substantial amounts of skepticism.

Every travel innovation experiences roadblocks. Even vacation rentals have endured some backlash from consumers. The difference is their willingness to make things right. The way the timeshare model is set up, there’s limitations on what they can do to overcome negative perception. They’ve already proven their unwillingness to decrease prices. High pressure sales and unethical tactics have remained consistent. Worthless incentives and non-existent service has been their achilles’ heel for a long time.

The best way to understand this is that they’re maximizing profits before the market runs out. Either way, the consumer continues to lose unless they’re able to prove misconduct in court. As we’ve discussed before, this is very difficult to do. Timeshare companies are banking on their ability to hold onto their fractional owners for life. A lack of interest in overcoming this perception and repaying those taken advantage of is the main reason we believe the future of timesharing looks bleak.

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If you’re interested in learning more about getting rid of your timeshare contract or what you’re options are, we’d love to provide you with a free consultation. If you believe you’re ready to pursue cancellation services, feel free to fill out a qualification form below.

How Telecommunication and the Internet Revolutionized Timesharing

How Telecommunication and the Internet Revolutionized Timesharing

Fractional ownership has come a long way since the 1960’s. What was once seen as a revolutionary way to travel is now more commonly viewed as perpetually bad decision. While timeshare companies have been doing their best to address negative perception since the 1970’s, they haven’t been able to truly overcome the number of bad experiences travelers have had. Especially when consumers have given the hospitality giant every chance to redeem themselves. Just like any other major purchase decision that ends in disappointment, it’s hard for timeshare owners (past or current) to buy back into the product or service. It’s why so many want to get out of their agreement.

Disappointment and Disdain for Timeshare Owners

Throughout history, it has seemed like timeshare companies have continued to ignore the simple fact that buyer’s remorse (or regret) doesn’t only affect the individual. The customer experience eventually becomes an evergreen recommendation. A disappointed timeshare owner carries a lot more weight than a positive review. Early on, this wasn’t a major concern for resorts.

Prior to advancements in telecommunication, resorts didn’t have to worry too much about rapid word of mouth exchanges. They could keep negativity fairly contained while trekking forward with development. But as technology advanced, resorts were too busy chasing communicative opportunities to notice that timeshare owners began communicating their indifference.

Technology Became a Double Edged Sword for Timesharing

Like we’ve mentioned in previous articles, the lack of information about timesharing greatly benefitted the resort’s ability to close consumers on their concept for travel. The uninformed had no way of researching the product or skimming reviews in order to make an informed decision. In most cases, they couldn’t even phone a friend that knew anything about timeshare ownership.

The actuality of the experience was cloudy at best. Most stereotypes were combated with ongoing, promised improvements including credible hotel chain merges and rewards programs. But using intrigue to distract current and potential timeshare owners instead of improving the experience proved to be unsustainable. It was just a matter of time before that cat got out of the bag.

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When communicative innovation began, the timeshare industry viewed it as an opportunity instead of a hurdle. While they were busy expanding call centers and streamlining marketing for new acquisition, consumers were talking. It’s like they didn’t forecast the inevitable. When a business avoids listening to their customers while turning up the volume of their sales message, the end result is rarely favorable. Happy customers normally give glowing reviews when asked, but disgruntled buyers typically tell anyone who’s willing to listen. Misery loves company and timeshare owners that were taken advantage of began to voice a reason for skepticism.

With that being said, let’s take a look at some of these technological advancements that have altered the industry for good.

How Telecommunication Spread the Word of Timesharing

If you’ve looked into the history of timeshare ownership, you’ll see that the industry expanded quickly. The ability for investors and entrepreneurs to communicate about expansion opportunities over the phone was the main reason growth occurred so quickly. Striking up deals and uncovering destination travel was revolutionary for the hospitality industry. Places people hadn’t dreamed of visiting easily became a reality. What buyers didn’t realize was that timesharing wasn’t always what it was “said” to be.

Timeshare Cold Calling Tactics.

For a good part of history, resorts used one-way communication to describe the timeshare experience. Call centers focused solely on acquisition controlled the message by enlightening consumers on opportunities they’d never heard of. Because people thought they’d won something unique, they weren’t even cognizant of the sale. Although cold calling was first documented in 1873, call scripts and sales strategies over the past few decades have boosted the reach of sales organizations exponentially. .

What was typically done on a local level by small businesses was quickly implemented on a global scale for timeshare travel. Early on, people weren’t normally bombarded like we are today with telephone scams. This allowed cold calling to be initially effective for timeshare sales teams. Before spam calls were common, people were intrigued, more willing to listen and easily sold on something they weren’t privy to. Since the overall perception of timesharing was still vague, salesman took advantage of an innocent, gullible audience.

Timeshare Owners Can Communicate Too.

As knowledge of the unfavorable transaction spread and cold call tactics were exposed, people started talking. Instead of continuously waiting for customer service departments to right the ship, they began taking advantage of public phone directories to file complaints with government divisions and consumer rights programs. As laws and regulations started cracking down on timeshare sales schemes, the industry had to look towards other means to acquire fractional owners.

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Unlike yesteryear, persuading a consumer to buy a timeshare over the phone is nearly impossible today. While the initial call may be used to build rapport, additional measures are now needed to fully persuade targets. Because of this, sales presentations and tours have remained the main source of new acquisition for timeshares.

Over the last decade or so, timeshare companies have realized they have to find ways to get consumers to call them. Initially, direct mail marketing campaigns with enticing pitches aided their ability to do so. But as technology continued to evolve and with remorse still a concern, resorts knew the rise of the internet provided them with the best opportunity acquire new customers.

How the Internet Changed the Timeshare Industry for Good.

Today, you don’t necessarily have to sit through a timeshare sales pitch in person. Technology has given sales and hospitality organizations an advantage when interacting with consumers. Aside from participating in a live demo, you can also receive digital messages and virtual tours online. But it wasn’t always this easy. When the internet first came into fruition, email was a huge opportunity for resorts to get in front of prospective timeshare owners.

Email Gave Timeshares an Advantage

The same persuasive tactics that were being used over the phone and during events could now be typed into a personalized message used to target the millions of people online. Can you imagine receiving a “too good to be true” offer in your digital mailbox for the first time? We might balk at it today, but email was extremely powerful in the early 2000’s. Online discernment was basically nonexistent and many users were extremely gullible.

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The internet era brought a ton of value to timeshare companies but it also opened the door for digital fraud and predatory scams. This tainted the industry’s reputation even more. Over time, spam and phishing regulations cut down on misleading emails and fraudulent activity. But online decision-making was still minuscule. Although email scams still exist, consumers have become more aware of tactics and are less prone to engage with this form of communication.

Aside from new acquisition, emailed allowed resorts to also upsell current property owners while improving the way they managed retention. Despite sales tactics remaining the same, the added element helped them expand their reach while maximizing revenue streams. It even gave them a persuasive advantage when it came to targeting older generations that refused to educate themselves on the internet realm. Sadly, the online aging demographic is still a major target for sales organizations today.

The Benefit and Backfire of Additional Online Advancements 

Despite the emergence of text messaging in the early 2000’s, email has continued to be a strong form on communication. Nearly every form of verbal communication has been replaced with written messaging. You can now reach online users on social media and other platforms that typically require an email address to use. In turn, the ability for timeshare companies to collect and segment user data (emails, social media accounts, bookmarks, subscriptions, etc) has become extremely important. Once an entity has your email address, they can pretty much find you anywhere online with your digital footprint.

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Technological advancements in online marketing have given companies the ability to target, track and re-market consumers on multiple channels. When one message isn’t effective, they try another. When you hang up the phone, they can now email you. When you unsubscribe from an email list, agencies can (and in most cases will) sell your information to another entity with a different product or agenda. Once you show interest by attending a timeshare sales presentation (or by clicking your mouse) they’re going to do everything they can to close you. They’re very good at this by the way. Not only does this help them address the increased acquisition costs of presentations, but it allows them to maximize their initial efforts. Phone scripts and email campaigns have turned into engaging social media posts, video presentations and other forms of interactive media. Resorts have even paid famous influencers to promote their timeshares.

Timeshare Scams Lurk Everywhere Online

Besides strategic variation, the online scape also provides timeshare companies and predatory agencies with a unique ability to pivot when things go south. Even though online reviews and scam reports expose unethical practices, online businesses can easily rebrand their company and launch a new website in no time. With the internet still being considered a wild west of sorts, it’s been extremely difficult for consumer and government organizations to regulate the space. Online booking has also made it very easy for online entities to mislead and take advantage of oblivious internet users. This is why it’s so important that you research digital purchases before making them.

What Does the Future of the Timeshare Industry Look Like?

Despite the reputation of the timeshare industry being at an all time low, conglomerates have continued to find a way to make billions of dollars every year. With the rise of vacation rentals and other non-contractual options, one can assume the timeshare industry will eventually slow down. But it seems like people have been making that claim for quite some time now. No matter how bad morale gets, the industry always seems to find a way out. While a number of timeshare owners struggle to make the most of their purchase, the timeshare sales machine continues to trek on. Will the online voice of the consumer be enough to put an end to the perpetual agreement or will timesharing overcome? Only time will tell..

Are you a timeshare owner that’s frustrated with your current agreement? Would you like to discuss your options? We take pride in helping fractional owners exhaust all their options before discussing our timeshare cancellation service. If you’d like to know more, you can schedule a FREE consultation or submit a qualification form below.

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