How does the timeshare industry still exist?

[Anonymous]

Anonymous wrote:Why doesn't the gvt crack down on them? Given the vast amounts of money (upwards of 20K per wk) how do they go unregulated?

Maybe because you are a grown-up and the government isn't supposed to be your nanny?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why doesn't the gvt crack down on them? Given the vast amounts of money (upwards of 20K per wk) how do they go unregulated?

Maybe because you are a grown-up and the government isn't supposed to be your nanny?

How do you know they go unregulated?

[Anonymous]

Thing is they deliver what is promised, no out and out fraud here. Just overpriced for the most part, and unless you play for the Wizards you only get seven days.

[Anonymous]

I think for certain segments of the population they are probably a "good deal"...people who travel often to the same locations, who prefer a less hotel experience ie a kitchen, who want to bring a large number of people, have a large family - no extra per person charge, etc..

[Anonymous]

I think for certain segments of the population they are probably a "good deal"...people who travel often to the same locations, who prefer a less hotel experience ie a kitchen, who want to bring a large number of people, have a large family - no extra per person charge, etc..

Exactly. We co-own a timeshare at WDW with my ILs. (I know, but I actually like my ILs ). We use it every 2-3 years (you can bank points from one year to the next with Disney) to take a vacation to WDW with extended family. It works well for us, allows us to get a better room than we would pay OOP for at WDW. We get a kitchen, etc. Yes, we could stay cheaper off property, but my ILs have somewhat limited mobility and like staying on Disney property. We also don't want to "trade" weeks for anywhere else, we only want to use it at Disney.

So for us, this works. We also bought it on the timeshare re-sale market, not direct from Disney, which saves a ton of money.

[Anonymous]

Anonymous wrote:My parents use theirs all the time. They work on a point system with Hilton and get free hotel rooms in addition to their timeshare time. They purchased in FL but can use it at any Hilton resort and they aren't tied down to just one week. They are also given given great deals that are often just a month out from when they need to be used. Not a big deal for them because they are retired and have five children to share with. DH and I had four nights in Orlando for $99. It was the best vacation we have had to date.

Our best friends have a share like this with Wyndham. It is awesome! We've traveled to Portugal, Hawaii and Ireland with them and have had great accommodations--that we never paid for! They have hundreds of destinations all over the world they can stay with their timeshare and they utilize it often. Their children have seen the world at a much lower cost, not to mention in very nice lodging, than what it would have been not having a timeshare.

[Anonymous]

Anonymous wrote:We got gifted one from my inlaws, who were big time share buyers/users. We ended up selling it on the secondary market and got a couple of thousand dollars, which was pretty good. (much less t han what it costs, but that's how they work). It is the maintenance fees that are the killer. Often those fees are high enough that you are paying most of the cost of just getting a hotel for the week just for your maintenance. Is it really worth it to commit yourself to a place and company with a big up front payment and expenses to get what is essentially a discount on your hotel room. (for example someone posted the other day that their fee was $850. That's $120 a night in maintenance fees. So if you would normally pay $250 a night for lodging, let's say, what you have with a time share is basically a $50-60% discount on your vacation lodging.

My brother has a timeshare and is trying depserately to sell it. How did you sell it on the secondary market?

[Anonymous]

I definitely don't think any timeshares are a "good deal" like some of the previous posters contend. However, I think if you're not worried about paying the cheapest price, they can be good for certain types of people, who like to go to the same (or similar) types of places every year and have a consistent experience.

[Anonymous]

We have one and we love it. We bought it through a points system so we're not tied down to any one place. We've gone all over the world, and plan to start taking our daughter with us. You pay some up front money but your yearly maintenance fees basically just pay for the way discounted hotels that we could never afford otherwise. (We figure we save about 50%) The way our points are set up, we get two awesome vacations a year. We really wouldn't be able to afford a trip to Cape Town, South Africa, but we're heading there this fall, staying in a four star hotel right on the water.
What's the problem with them?

[Anonymous]

Anonymous wrote:We have one and we love it. We bought it through a points system so we're not tied down to any one place. We've gone all over the world, and plan to start taking our daughter with us. You pay some up front money but your yearly maintenance fees basically just pay for the way discounted hotels that we could never afford otherwise. (We figure we save about 50%) The way our points are set up, we get two awesome vacations a year. We really wouldn't be able to afford a trip to Cape Town, South Africa, but we're heading there this fall, staying in a four star hotel right on the water.
What's the problem with them?

Simple math.. if you pay 18K for a timeshare, plus $800 in maintenance fees every year and divide by the number of years you use it, this is no bargain. Don't forget the upsell every few years to "upgrade". It' a complete ripoff. You also have zero control over the rise in maintenance fees. Hotels discount their rooms constantly and you can rent villas and condos for much less without being tied to the same week every year.

[Anonymous]

For the poster who wanted info on selling and just for those with other timeshare questions, check out www.tug2.net. It is a great site that benefits timeshare owners and not the industry. I own a timeshare and use mine regularly, trading from place to place and the info gained from that site has helped me get the maximum from my cheaply bought week.

[Anonymous]

Anonymous wrote:

I think for certain segments of the population they are probably a "good deal"...people who travel often to the same locations, who prefer a less hotel experience ie a kitchen, who want to bring a large number of people, have a large family - no extra per person charge, etc..

Exactly. We co-own a timeshare at WDW with my ILs. (I know, but I actually like my ILs ). We use it every 2-3 years (you can bank points from one year to the next with Disney) to take a vacation to WDW with extended family. It works well for us, allows us to get a better room than we would pay OOP for at WDW. We get a kitchen, etc. Yes, we could stay cheaper off property, but my ILs have somewhat limited mobility and like staying on Disney property. We also don't want to "trade" weeks for anywhere else, we only want to use it at Disney.

So for us, this works. We also bought it on the timeshare re-sale market, not direct from Disney, which saves a ton of money.

This is making me want to go to Disney. We love going to Disney with the kids (or without them).

[Anonymous]

Anonymous wrote:

Anonymous wrote:We have one and we love it. We bought it through a points system so we're not tied down to any one place. We've gone all over the world, and plan to start taking our daughter with us. You pay some up front money but your yearly maintenance fees basically just pay for the way discounted hotels that we could never afford otherwise. (We figure we save about 50%) The way our points are set up, we get two awesome vacations a year. We really wouldn't be able to afford a trip to Cape Town, South Africa, but we're heading there this fall, staying in a four star hotel right on the water.
What's the problem with them?

Simple math.. if you pay 18K for a timeshare, plus $800 in maintenance fees every year and divide by the number of years you use it, this is no bargain. Don't forget the upsell every few years to "upgrade". It' a complete ripoff. You also have zero control over the rise in maintenance fees. Hotels discount their rooms constantly and you can rent villas and condos for much less without being tied to the same week every year.

We're not tied to the same week or time frame at all. We have a host of places we can go, we pick one, and we go.
Why are people being snippy and angry with folks who just want to go on vacation and are happy with their means of doing so?
Oh, wait, this is DCUM. I forgot there for a second.

[Anonymous]

I am the poster with the WDW timeshare. We are also not limited to a certain week. You buy "points". Different times of year and different resorts cost different amounts of points, but you can use your points however you like.

[Anonymous]

The only problem I have with timeshares is the unethical way that they are sold. They make a lot of promises not in the contract and give you some fuzzy math based on reasonable assumptions that makes them appear to be bargains of the century. Then they slash the price in a one time only deal that is only available then and there, which is utter B.S. as if you call a month later they'll sell it to you for the same price.

Whenever anyone spends any time to actually investigate the economics of it and the prices in the resale market or ebay (or the rental market for that timeshare), they realize it isn't a bargain at all.

But once you already have a timeshare or if you buy one on the resale market, they are often quite nice and spacious.