Timeshare - good or bad? Advices?

[Phlip 0]

Some timeshare company just called me to give me free stuff, but I have to attend a 2h presentation.

They said there is a weel to turn when I get there (30minutes from my work), on the weel only 5 possibilities:
1) a week for 2 in Hawai, plane, hotel plus a $1000 to spend
2) weekend for 2 in vegas, plane and hotel
3) weekend for 2 in south lake tahoe, hotel
4) $1000
5) $500

They said I WILL win one of those for free. I DO NOT want anything to do with timeshares, I don't have the money for this and I don't think the concept is even interesting for me.

Is it going to suck, should I go or not? What to do and not to do?

Any comments?

Thanks

phlip

[b1jercat 0]

Can you say high pressure sales?
If it sounds to good to be true.................

Sounds like a good way to blow skydiveing money.

blue skies
jerry

[Phlip 0]

Like you said... waaaay too good to be true.

[WFFC 1]

I all depends on how you buy it and where it is. This does not sound like a good deal. If you want advise on what direction to go if you want to buy one, pm me your number and I'll give you a call.
IMHO, done right, timeshares can be a deal. Done wrong, major pain in the ass...BTW, I've done both.

edit to add: the way you listed is not the way to buy one.

[Steph2 0]

I agree with WFFC; a timeshare *can* be a really good thing, but only if bought in a very desirable location and for a popular time of the year. They are colour coded; red, white and blue, and I would advise against buying a blue one as that only allows you to "share" other blue properties - thus limiting your options. White can share both white and blue, and red can share any of them. My folks have a timeshare, and do get offered completely free weeks all over Europe. These freebies are an opportunity for timeshare to flog more weeks, but you do not have to buy them!!! Hope that helps...
Steph
-x-

[skymama 37]

You'll have to sit through a long presentation with high pressures sales tactics. Usually, once they finally take "no" for your answer, you'll get your trip and read in the small print that there are so many restrictions on the trip that it's not even worth taking. I'm guessing you'll "win" either #2 or #3, not the ones that include actual cash. That way they aren't out anything if you decide the trip restrictions are too much of a bother to use your prize. That is how they are able to afford to keep offering the prize.

If you're thinking you might be interested in the time share, the resorts are usually pretty nice. I've taken vacations at time shares the last 15 years and was at a resort last week in Williamsburg where we had a family reunion and had 5 units there. The company RCI is a really good one and take good care of their properties. You'll have to dish out about $10,000 for your unit though, and make sure it is in a good location so you have good exchange power. Then, once a year you have to pay about a $300 fee for it. If you want to exchange your unit for another place, there is usually about a $90 fee attached to that. We got lucky, our time share was given to us, so we only had to pay for the yearly fees which made it a great deal. I'm not sure I'd ever shell out the $10,000 for one though.

She is Da Man, and you better not mess with Da Man,
because she will lay some keepdown on you faster than, well, really fast. ~Billvon

[WFFC 1]

Quote

You'll have to dish out about $10,000 for your unit though,

If you have to dish out this much, you're definately shopping in the wrong arena. Location is key and premium weeks (red) are a must.

[Phlip 0]

But do you guys think they will give me those free vacation (without any bad surprises) eventhough I am not interested by the timeshare program?

[WFFC 1]

Quote

But do you guys think they will give me those free vacation (without any bad surprises) eventhough I am not interested by the timeshare program?

They will, but there are so many restrictions on the trip that it's not worth the brain damage to get it.

[wlie 0]

I think you'll most likely get the weekend in Vegas for 2, plane & hotel - why because I've been there and that's what I got

Actually timeshares are a pretty good way to invest in vacation time. Think of it as a pseudo real estate investment.

My wife and I went to San Diego for a a week on our honeymoon using the timeshare. The unit was great - came fully furnished w/ dishwasher, stove, washer dryer, tv, vcr, stereo system, even a BBQ on the balcony.

Come Sept, we'll be heading to Napa for a week also on our timeshare.

My other ride is the relative wind.

[pyke 0]

My folks just bought one in the Carmel/Monterey area...and it is with a firm that has them all over the world - namely NZ - so they are pretty happy with it.

It takes a lot of research to invest in a good TS, kind of like buying a real condo - so invest wisely, and make sure you understand EVERYTHING you're getting into!!!

GOOD LUCK!!

(and on those trips - yeah, they're free, but they're a real headache!! Certain dates, certain times, no changes, reserve WAY in advance...yadda, yadda, yadda!!)

Kahurangi e Mahearangi,
Kiwi, RB #926, AFF-I, FAA Snr. Rigger, RN/BSN/Paramedic

[wlie 0]

Yeah the vacation planning that goes w/ timeshares can be a headache. That's why they offer Owner Education as part of it and almost always mentioned in the monthly mag they send you.

On the other hand, sometimes without planning too far ahead, you might be able to purchase Bonus Time where you end up paying something like $40 for a weekend getaway (2 days) and it doesn't ding the remaining points in your acct.
BTW, the TS I have is w/ WorldMark by TrendWest. One of the nice things about these guys is that they're part of some big co. that owns Caldwell Bankers and Princess Cruises ++. So they really know their stuff when it comes to vacation real estate. As a TS owner, I could exchange my Worldmark points for some other TS and vacation at some other resort.

My other ride is the relative wind.