Time Share "Deal" Experience
Dec 1st, 2002, 12:15 PM
#1
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Time Share "Deal" Experience
This past weekend we went to a comp weekend at a resort in Rancho Mirage outside of Palm Springs, CA.
It was comp because we had agreed (the key word) to attend a 90 minute talk on time shares the resort was offering. The "talk" started out nicely enough, but then when we weren't showing enough enthusiasm, the talk became a hard sell push.
When I said "if you want an answer right now, then the answer is no". The man, who was our best friend and confidant just minutes before, turned on us. Then he went to get his "manager" to offer us some more percs if we bought the share right then. Between the two of them, literally, they gave us the squeeze. I felt like I was at a used car lot. Then they turned aggressive and slung insults at us, such as, "this is for high end clients and obviously you aren't one of them". I said, "I guess not, so the answer once again is no". Then they got up and walked away. I called after them to ask how we could get back to the hotel proper, they said I am sure someone will take you. We finally found a young woman who was taking a golf cart back to the hotel and she gave us a ride.
This experience left a very bad taste in my mouth and actually turned me against the hotel. It was a very nice resort though, but now I just think of the men in checkered sport coats insulting me.
Just a little report to warn those of you who may be thinking of doing a time share proposal weekend at a resort.
It was comp because we had agreed (the key word) to attend a 90 minute talk on time shares the resort was offering. The "talk" started out nicely enough, but then when we weren't showing enough enthusiasm, the talk became a hard sell push.
When I said "if you want an answer right now, then the answer is no". The man, who was our best friend and confidant just minutes before, turned on us. Then he went to get his "manager" to offer us some more percs if we bought the share right then. Between the two of them, literally, they gave us the squeeze. I felt like I was at a used car lot. Then they turned aggressive and slung insults at us, such as, "this is for high end clients and obviously you aren't one of them". I said, "I guess not, so the answer once again is no". Then they got up and walked away. I called after them to ask how we could get back to the hotel proper, they said I am sure someone will take you. We finally found a young woman who was taking a golf cart back to the hotel and she gave us a ride.
This experience left a very bad taste in my mouth and actually turned me against the hotel. It was a very nice resort though, but now I just think of the men in checkered sport coats insulting me.
Just a little report to warn those of you who may be thinking of doing a time share proposal weekend at a resort.
Dec 1st, 2002, 01:28 PM
#3
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File a complaint?
Surprised by your bad timeshare sales experience?
Man, are you people in the dark.
This is exactly what timeshare sales pitches are famous for.
They are the ultimate in hardcore intmidating (often verbally abusive) salesmanship and anyone who ventures into one of these things better know exactly what they're getting into.
If you know in advance, you can program yourself to tune it all out and be robotic.
Is it really worth it to do that to yourself on vacation?
Timeshares are such scams anyway. I can't believe so few people have them pegged.
Surprised by your bad timeshare sales experience?
Man, are you people in the dark.
This is exactly what timeshare sales pitches are famous for.
They are the ultimate in hardcore intmidating (often verbally abusive) salesmanship and anyone who ventures into one of these things better know exactly what they're getting into.
If you know in advance, you can program yourself to tune it all out and be robotic.
Is it really worth it to do that to yourself on vacation?
Timeshares are such scams anyway. I can't believe so few people have them pegged.
Dec 1st, 2002, 03:48 PM
#6
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Rose, you know what they say,,you can fool some of the people some of the time but....... *S* As for the hard sell....I just tell them up front, I'm only there for the trip. After a couple attempts, they leave us alone and move on to the next sucker...you think that after a couple times they would have a list or something,, but I still get the calls about once a year,,and why pass up a free trip to Vegas or Orlando for a couple hours of my time..JUST SAY NO!!!
Dec 1st, 2002, 03:52 PM
#7
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I received a call last week from a company called "Global Vacations" telling me I had won a free Orlando vacation. Turns out "Global Vacations" is nothing more than a front for a timeshare sales pitch. They are not even based in Orlando, but in Dublin, Ohio near where I live. I called the Ohio State Attorney General's Consumer Affairs Bureau and low and behold, Global Vacations has had numerous complaints against them.
IMO, there are alot of unscrupulous time share sales companies out there. You definitely need to do your homework if you are thinking of buying one and check with the BBB and the State Attorney General's office of where you are planning to buy to make sure the company doesn't have any complaints against them and are legit.
IMO, there are alot of unscrupulous time share sales companies out there. You definitely need to do your homework if you are thinking of buying one and check with the BBB and the State Attorney General's office of where you are planning to buy to make sure the company doesn't have any complaints against them and are legit.
Dec 1st, 2002, 04:01 PM
#8
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Rose, if you want to know how timeshares are a scam, there are plenty of resources you can check.
By 'scam' I mean that people are being misled to believe they're making a smart financial investment, when in truth, in most cases they're not.
The one exception: if you buy a REsale timeshare at a very low rate, you can come out ahead.
But if you look at the upfront cost, annual fees, lost time value of money, limitations on how to use the timeshare, restrictions on when/where you can trade, etc etc....versus simply taking the money and applying it to a standard investment (real estate, CD, bonds, stocks....true that the latter have been abysmal the past 2.5 years, but over the long haul they are superior investments) and using a percentage of the money each year for UNRESTRICTED travel, timeshares prove to be the big losers.
A little common sense will tell you that if there are oodles and oodles of people building and selling timeshares, there's plenty of profit to be made. All that money dumped in by timeshare owners pays for the timeshare unit...but on top of that, there is a ton of profit margin built in for the developers and sellers. That is money the timeshare owner is OUT without any return, and money he/she could have put toward something else.
The biggest reason most people don't wise up to the timeshare scheme is that you have to have a very good grasp of math, accounting and finance to understand how poor the return on investment is. The details are too much for most people to grasp.
By 'scam' I mean that people are being misled to believe they're making a smart financial investment, when in truth, in most cases they're not.
The one exception: if you buy a REsale timeshare at a very low rate, you can come out ahead.
But if you look at the upfront cost, annual fees, lost time value of money, limitations on how to use the timeshare, restrictions on when/where you can trade, etc etc....versus simply taking the money and applying it to a standard investment (real estate, CD, bonds, stocks....true that the latter have been abysmal the past 2.5 years, but over the long haul they are superior investments) and using a percentage of the money each year for UNRESTRICTED travel, timeshares prove to be the big losers.
A little common sense will tell you that if there are oodles and oodles of people building and selling timeshares, there's plenty of profit to be made. All that money dumped in by timeshare owners pays for the timeshare unit...but on top of that, there is a ton of profit margin built in for the developers and sellers. That is money the timeshare owner is OUT without any return, and money he/she could have put toward something else.
The biggest reason most people don't wise up to the timeshare scheme is that you have to have a very good grasp of math, accounting and finance to understand how poor the return on investment is. The details are too much for most people to grasp.
Dec 1st, 2002, 04:08 PM
#9
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I love my timeshares. I bought them at a discount, are in great locations, and are easy to trade. I stay at terrific resorts for about $400 for a one-week stay (my maintenance fees) I don’t know how you can beat that. I can also sell my small investment, and I know it has not lost any value. I could perhaps even make a profit.
Happy Trails,
Paul
Happy Trails,
Paul
Dec 1st, 2002, 04:49 PM
#10
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Paul, you are a perfect example of how timeshares succeed. You act like you stay somewhere for $400 a week, ignoring how much money you originally paid which could have been invested and along with the $400 you now spend in addition to it, could have given you a much greater flexibility of vacation options.
Dec 1st, 2002, 05:59 PM
#12
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I will never buy timeshare although many people I know own them. Back to the original post, Faye, I guess if that must be your first experience with these timeshare sales pitches. They are usually high pressured because they want people to buy so they can make a huge profit. If you prepare yourselves for that type of presentation and just want the freebies or other offers, go in, say "NO", ignore their comments! Don't take them seriously or any of the comments personally.
I think the maintenance fees are the biggest turnoff for me. I can find better deals on the internet for the money. I don't even want to buy a timeshare on the Re-sale market, even if it is under $1,000.
I think the maintenance fees are the biggest turnoff for me. I can find better deals on the internet for the money. I don't even want to buy a timeshare on the Re-sale market, even if it is under $1,000.
Dec 1st, 2002, 06:20 PM
#13
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Here's how I figure it... I have 2 weeks, for which I paid $6,000 ($3,000 each week). If the resort were to charge $1,000/wk - which would be typical, I would break even at around 5 years of ownership. After that, I am staying at a fine resort for cheap. Think what you may, it works for me. It gets me to some nice places, it is a reasonable expense, and I have deeded property. Our family (my parents) owns several additional weeks and it seems to work for all of us. BTW, they picked up a few weeks cheaper than I did - and it is a high-exchange property.
Happy Trails,
Paul
Happy Trails,
Paul
Dec 1st, 2002, 07:34 PM
#14
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Paul, I can surmise just from the info you posted that you're missing some key points.
If you'll post the missing details, we can compare.
One week, $3000 up front, plus $400/yr (each week or total for your 2 weeks?), for what kind of hotel/resort set up?
If you'll post the missing details, we can compare.
One week, $3000 up front, plus $400/yr (each week or total for your 2 weeks?), for what kind of hotel/resort set up?
Dec 1st, 2002, 07:35 PM
#15
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Timeshare on resale can be a stealdeal. Timeshare bought initially is a ripoff. Unfortunately, I am in the 2nd category, but will make the best of what I have. If I had bought at resale, the last place we stayed would have been an incredible deal amortizing the initial price and the maint. fees and taxes. FYI, in January we are going to one of the Ritz' in HA; they call every week to ask what they can do for us. So our tastes aren't cheap/hillbilly, for those who would scoff at people who don't know their math.
Dec 1st, 2002, 08:01 PM
#16
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Apro for timeshares is the ability to trade as we did into a 3 bd 3ba in a castle built in 1266, renovated interior of course. The exchange fee for one week was 169. It was in Scotland a few miles from St Andrews. We also just traded two weeks on to the Cape , for 129.00 a week. I have rented my units for a fiar price to friends and work associates. We own also just an hour from home, overlooking the Pacific ocean, amortizing the original cost and the annual dues it is still a good deal. Not for everyone, and it is not an investment, as they rarely increase in value. There are things we all pay a great deal of money for that have no intrinsic value, to me cars are one of those, but an expensive automobile is what some people like.
We usually tell the sales people we already own five weeks and that cools the sales pitch immediately.
We usually tell the sales people we already own five weeks and that cools the sales pitch immediately.
Dec 1st, 2002, 09:36 PM
#17
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Yes, it was my first experience with time share dealers. I knew it would be hard sell, but I didn't think they would get personal in their "attack" (actually they said more, but I won't go into it).
I added up in my head the figures they were quoting and it seemed like too much being spent on a week's trip. I can go to Europe for what their prices were and rent a villa with some friends.
I suppose it would be convenient for a quick getaway as we live in Los Angeles, but I can usually find good prices on hotels on my own. I don't want to be tied down with their fees, but maybe I just don't know enough about it.
It was an enlightening experience that I would not want to repeat anyway. It makes me think something is fishy if they have to do a hard sell, if it was a good deal it would sell itself.
I added up in my head the figures they were quoting and it seemed like too much being spent on a week's trip. I can go to Europe for what their prices were and rent a villa with some friends.
I suppose it would be convenient for a quick getaway as we live in Los Angeles, but I can usually find good prices on hotels on my own. I don't want to be tied down with their fees, but maybe I just don't know enough about it.
It was an enlightening experience that I would not want to repeat anyway. It makes me think something is fishy if they have to do a hard sell, if it was a good deal it would sell itself.
Dec 2nd, 2002, 06:14 AM
#19
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The merits (or not) of timeshare aside, what do you expect??? You get offered a "free" weekend, and then what do you do? Compalin about how they talked to you?? Did you ever consider that YOU are the rude one, taking something for "free" that you have no real intenetion of buying? Did you think this was some hotel giving you a nice weekend on the house just because you are great people? Your last line is a beauty too, "if it was a good deal it would sell itself"!!! Yeah, then YOU wouldnt have your "free" weekend, now would you? And then what would you complain about? Having to pay??? Ever heard the saying: there is no free lunch?
Dec 2nd, 2002, 06:18 AM
#20
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I have been on many time share promotion deals over the years. If you attend ones affiliated with big names such as Marriott, Hilton, etc you decrease the chances of "abusive" and terribly hard sells because they have a reputation to uphold. They can't afford to upset you or they will likely lose your patronage at their hotels. Of course, there can be a bad apple in every bunch.
Tip - If you go into the sales meeting knowing you have absolutely no interest in buying there, do not ask questions. Let them know you love the idea, it makes sense to you (do not challenge the concept) so they don't have to keep trying to sell you. You just tell them clearly you wished you could buy there but there is absolutely no way because financially you are in no position to. You can also at that point tell them that there is nothing they could do to make it more attractive to you from a financial standpoint - you just DO NOT have the money to buy. If they say, " so why did you even bother to come here today" simply tell them that you never know in the future if your financial picture changes and quite frankly you thought the give a way was a great offer. Do not waver and they will spend the 90 required minutes with you and want to get on to the next potential sale. Don't expect to get away before the 90 min.
You might ask why go thru this? My answer is that people who love to travel but are not well off financially do look for ways to save or get a bargain. I think this is a great way in some situations if you have the time to participate. It has been worth it to me to sit thru this on occasion to come away with say 4 free tickets to the theme parks of my choice in Orlando.
Tip - If you go into the sales meeting knowing you have absolutely no interest in buying there, do not ask questions. Let them know you love the idea, it makes sense to you (do not challenge the concept) so they don't have to keep trying to sell you. You just tell them clearly you wished you could buy there but there is absolutely no way because financially you are in no position to. You can also at that point tell them that there is nothing they could do to make it more attractive to you from a financial standpoint - you just DO NOT have the money to buy. If they say, " so why did you even bother to come here today" simply tell them that you never know in the future if your financial picture changes and quite frankly you thought the give a way was a great offer. Do not waver and they will spend the 90 required minutes with you and want to get on to the next potential sale. Don't expect to get away before the 90 min.
You might ask why go thru this? My answer is that people who love to travel but are not well off financially do look for ways to save or get a bargain. I think this is a great way in some situations if you have the time to participate. It has been worth it to me to sit thru this on occasion to come away with say 4 free tickets to the theme parks of my choice in Orlando.
