For some, owning a timeshare can be a mixed bag of anticipation and disappointment. While many fully enjoy their timeshare experience, others end up regretting their purchase altogether. After viewing the expense as a whole, a good number of owners begin looking for ways to exit timeshare agreements. Even when the initial thought of exchanging, upgrading or selling seems promising, it’s never that simple. This makes it extremely difficult for users to follow through with their desire to move on.
Have you ever been overcharged for a subscription service (like Direct Tv) and found it nearly impossible to garner a refund? Most sales organizations force their customers to endure long wait times or “accidental” hang ups while they seek restitution. When service providers deflect requests and buy more time while collecting additional payments; most customers give up. They end up paying the unacceptable amount just to keep their service from being interrupted. The same is done in the timeshare industry. Sadly, many timeshare owners abandon their efforts to escape the contract because they view it as an impossibility.
How Timeshares Keep Owners From Exiting Contracts
Despite an overwhelming number of unhappy owners across the world, timeshare companies prefer to remain in the driver’s seat. Relinquishing revenue, buying back contracts or providing quality service isn’t on their radar. Unfortunately, they have all the leverage. They make millions off of aggressive sales tactics that leave their users in the dark. Contractual agreements force users to pay and there’s not much buyers can do to avoid it. This forces desperation and a lot of conditional bad decisions. Once owners spend a few extra thousand dollars on misleading relief programs, hopelessness sets in. This is very similar to a majority of people’s feelings towards internet and cable services. No one wants cancellation fees, let alone the thought of a foreclosure.
Why You Shouldn’t Give Up On Timeshare Relief.
Since finding a way out of your timeshare can be a disheartening process, we want to encourage you to continue fighting. Consumers do have rights that apply to timeshare ownership. All they need to do is find a reputable company that’s willing to listen. Once you’re able to receive feedback from a professional, you can work towards exiting your timeshare agreement for good. Not every option is going to work for you – so avoid listening to all sales pitches and focus on logical solutions that apply to your unique situation.
With that being said, we wanted to publish an article that helps you understand the value in getting rid of an expensive obligation. Even if you’ve spent thousands already, it’s important to understand the perpetual savings that exiting a timeshare agreement can bring.
The Cost of Timeshare Ownership is Probably More Than You Think.
On average, vacation owners spend around $450 per month on their mortgage, interest and annual fees (broken down monthly). A year after legally getting rid of a timeshare, you can easily save upwards of $5,400. The amount you’ll save over time should be enough motivation to help you refocus on getting out of the agreement. Since we’ve already discussed some things you could buy with these savings, we wanted to highlight some vacation destinations that can replace your timeshare investment. If any of these appeal to you, then the pursuit of cancellation is probably in your best interest.
Where You Can Travel With 1 Year of Timeshare Savings.
Let’s be honest here, $5,400 per year is a lot of money. Looking back on the annual timeshare experience, was it worth this amount? Did you know it was going to cost this much? To put things in perspective, you could have purchased a number of things and enjoyed them year-round. $450/month would be enough to finance a brand new Harley. Two months worth of savings could pay for the car repairs you’ve needed. It could even cover your kid’s back to school costs! People that finally decide to exit the timeshare agreement understand this. Instead of continuously throwing away hard-earned money, they choose to dump the timeshare for more enjoyable experiences. At the same time, some ex-owners still want to travel the way they initially envisioned.
To many, vacation ownership is viewed as a way to satisfy their desire to travel. In today’s world, people are so busy that they have to make an effort to set aside time for a trip. Whether it’s about family memories or escaping the nuances of everyday life, people want to get away. Timeshare sales teams are easily able to tap into this desire and persuade consumers to take action. Signing a timeshare agreement is appealing because it forces them to commit to this desire. But even after the experience is ruined and they’re relieved of the contract, the void is usually still there. Now that they’ve made that commitment, they want to keep it. Here’s how they can do just that.
Vacation Ideas After a Timeshare Exit.
Some people work extremely hard to be able to take their family on vacation. So, where can you actually go with the yearly expense of fractional ownership? We’re glad you asked. There are plenty of opportunities to trump your perpetual purchase with a week-long escape. They key to maximizing $5,400 is targeting certain destinations during down seasons. Holidays and prominent events will drive up prices. You can find some amazing lodging in premier locations if you’re flexible with your dates. Planning ahead allows you to set aside certain dates during off-peak times. With that being said, here are a few simple options worth noting:
7 day cruise to the Bahamas for 2 adults and 2 kids with food included.
7 day home rental in Kauai, Hawaii for 2 families (<$5,000 per family)
5 nights in New York City while enjoying a handful of tourist attractions.
5 nights at Club Med in Martinique, Norway for 2 adults and 2 children.
6 nights at Disney for 4 with passes to Universal Studios and SeaWorld.
Keep in mind, replacing the timeshare experience with a trip, just to go on vacation, isn’t always the best decision. I you’re limited on cash or aimlessly planning then it won’t help you forget about the timeshare. A quick replacement trip should only be considered by those that immediately exit timeshare agreements during rescission periods. For those that have endured ownership for too long, regrouping while researching possible destinations will be worth it in the end. If the purchase was especially damaging, waiting even longer will give you a surplus of savings to funnel towards an memorable vacation.
Vacation Options After Saving $10K+ by Exiting a Timeshare.
Previous timeshare owners will have saved roughly $10,800 twenty four months after exiting a timeshare agreement. At this point, vacation possibilities become a little bit more extravagant. Aside from being inconvenienced or disappointed, the timeshare purchase may allow some to see that annual, week-long vacations just aren’t feasible. While it may be desired, they realize a lavish getaway makes more sense in moderation. Now that the timeshare is out of the picture, they have free reign to reallocate the travel budget any way they’d like. Here are a few vacations you can enjoy with a $10K travel budget:
10 day sightseeing vacation for two across Europe.
5 day trip to Paris for a family of 4 with minimal spending money.
Rent a 4 bedroom luxury villa on the Florida Gulf Coast for 2 weeks.
7 day luxury, family vacation most anywhere in the Caribbean (mid-range in St. Lucia).
10 day luxury vacation rental in downtown Seattle with money to spend.
Visit the Bay Area and Napa Valley in California for sightseeing and wine tasting.
Participate in a deep sea fishing adventure for a few weeks with some friends.
Extend one of the aforementioned vacations for another week.
You could always travel the world for 14 months like this guy.
If going on vacation every other year doesn’t appease you more than the timeshare did, then you don’t have to be limited to one trip. There are plenty of crafty ways to maximize your saved budget. If you have a bigger family or international travel doesn’t appeal to you then travel during multiple weekend instead. Sometimes, brief adventures or staycations are perfect for rekindling relationships while escaping the routine. No matter how you decide to utilize your savings, the overall benefit lies in your ability to choose where you go, how long you stay and what do while you’re there. This in itself should make exiting timeshare agreements worthwhile.
Be Thoughtful With Your Travel Purchases Moving Forward.
Although the purchase of a timeshare can be exciting and full of anticipation, it rarely plays out the way buyers expect. Many learn a valuable lesson at their own expense. Eliminating the regret that comes with ownership is enough to feel good about. Don’t dwell on the decision, even if you decide to remain at home for a while. Use the failed experience as motivation to pursue healthy spending habits and avoid impulse decisions. At the end of the day, traveling is all about exploring the world and giving yourself a better perspective on life. Put your hard earned money towards sensible arrangements and you’ll avoid remorse in the future.
Learn How to Exit Timeshare Agreements with VOC.
If you’ve come to realize your timeshare isn’t worth the price tag, we’d be more than willing to help you navigate your options. VOC is one of the few cancellation companies that takes pride in actually qualifying every fractional owner before offering timeshare exit services. We also provide FREE consultations to help you understand your contract better or pursue relief on your own. Our goal is to inevitably find the best solution for you.