Back in the early days timeshare was considered an elite and special thing to own. An older, moneyed generation were the original buyers and an aura of exclusivity surrounded the product. However, as the years passed, timeshare became more and more popular, with families joining the system from all over the world and helping to make timeshare a mainstream holiday option.
Unfortunately, with the mass consumer interest in the product also came customers with negative experiences who helped create the bad reputation that has come to define timeshare in recent years. Combine this negativity with the fact that the digital age offers an infinite amount of holiday choices and you have to ask the question: Why do people still buy timeshare?
Well, the first thing to establish is that people do indeed continue to invest in the vacation ownership industry. According to figures released by the American Resort and Development Association (ARDA) people snapped up a whopping $9.2billion in timeshare products in 2016 alone. What makes this figure even more interesting is that 40% of that figure came from new owners. This means that timeshare salespeople are providing enough reasons and benefits to entice new blood into the system.
Choice And Flexibility
One of the key selling points of timeshare is the choice and flexibility within the system. Sales people will tell you that you can exchange into any of more than 4,000 luxury resorts in over 100 countries around the world. All you have to do is contact an exchange company and your holiday is booked. Unfortunately, the reality of the system is that very often there is no availability at the destination you require and to make any sort of exchange you need to get your request in more than a year in advance – so much for freedom and spontaneity.
The reality of the situation is that in today’s marketplace there are a myriad choices and ways of booking a holiday. The internet offers everything from full package holidays to the bare bones of travel tickets and accommodation, so when it comes to choice and flexibility much of what timeshare has to offer over available alternatives is mostly in the head of the salesperson. However, if you do decide to purchase a timeshare product from a reputable company then it can enhance the way you holiday – just remember to check with The Timeshare Help Centre before signing on the dotted line.
Not Understanding The Deal
As anyone who has attended a timeshare presentation will know they can often be lengthy, mentally draining and in some cases physically demanding. Most of all they are nearly always high pressure. Put someone who is unfamiliar with the product in the hands of a trained and experienced salesperson and they will soon become lost in a world of dream holidays and exotic destinations.
Even with all the information out there, people new to the concept of timeshare, who have been worn down by a lengthy, high pressure presentation will often roll over and sign a contract that ties them into a long term holiday product that is unsuitable for their needs. The fact that they are unaware of the pros and cons means they are vulnerable to the mis selling of a seasoned sales rep.
Heat Of The Moment
This vulnerability is multiplied when people attend a presentation whilst on holiday. We tend to leave our natural sense of caution at home when faced with sea, sand and sunshine. The timeshare touts and reps are ready to pounce on those individuals who are in the midst of holiday euphoria and who are open to the ideas of a holiday product that seemingly offers so much. They fail to understand the implications of what they are doing or of the obligations that timeshare ownership involves. It isn’t usually until they are back under the grey skies of their own country, ploughing through the mountain of paperwork, that they realise what they have got themselves into.
A Way Out
If you have purchased a timeshare that you cannot afford or is unsuitable to your needs then it is vital that you get professional help. The Timeshare Help Centre offers a free, impartial consultancy service for anyone who thinks they may have been mis sold. Our experienced practitioners can analyse your contracts and suggest a course of action to achieve a successful exit from the timeshare system.
If you believe that you have been mis sold and would like relinquish your timeshare then get in touch with us today for free, impartial advice.