Are Timeshares a Good Investment?
Bankers Anonymous, The Banker, Mar 6, 2017: You’ve heard it said many times that you should never, ever buy a timeshare. The reasons are myriad, butthere are specific reasons why timeshare sales are being perceived poorly by the banking community. Chief amoung those reasons are the ways in which timeshares are packaged and sold as solid investments. Nothing could be further from the truth.
So many people find that after the purchase of a timeshare, the lure of investment quality turns out to be false. No availability, difficulty in scheduling, deceptive promises, expensive upgrades, inability to resell the timeshare, etc., lead them to believe that they have not made a good invest, but, indeed, have made a very poor investment decision. To research these points, a banker scheduled a timeshare sales presentation. At the start of the presentation, the sales agent asked him about his vacation habits and when he found out about the banker’s children, the agent launched into a deeply emotional tug upon the banker’s feelings towards his children. For example, he was told that his timeshare would become a legacy for his children, one that would follow them forever.
Once the banker was drawn in emotionally, the financial offers could be presented, sweetened, made to look like attractive with deep discounts. The lures of strong investment with security and a decent hedge against inflation were presented. When it was all said and done, the banker refused the deal and was promptly sent to another agent for an exit interview, whereupon he was beset with yet another pitch for a lower cost deal. The takeaway from this? Timeshares are basically worthless and require maintenance fees which follow you and your heirs in perpetuity. A good investment? Decidedly not!
If you already own a timeshare, have experienced this situation and would like to cancel your timeshare, consider retaining the services of a reputable timeshare cancellation law firm, such as the Aaronson Law Firm, to help you cancel your timeshare. Our attorneys stand ready to bring the expertise and pressure necessary to get your timeshare cancelled. It’s all that we do…