Timeshare cancellation
 

Some years ago I hastily purchased a timeshare. I have never used it and I'm tired of just giving money away and looking to get out of this thing. Has anyone here gotten a time share cancelled and if so how or what did you do?

Tanks in advance for any help.

I keep hearing a lawfirm on the radio that claims they can get you out of a timeshare. "Timeshare Cancellation Team" or something like that.

You need to dig out your contract.

If it does not have a return clause it can get messy.

We ended up selling ours for something like 20% of what we paid, but honestly, I think we'd have given the darn thing away

There are outfits that buy unwanted time shares. My parents just unloaded one that they bought years ago and wanted to get rid of for the same reasons as you. For pennies on the dollar of course, but at least they got something for it.

I have never heard a happy story about a time share. How do people still buy them? Anything that requires a lot of free stuff just to get you to listen to their sales pitch (and often a high-pressure one) is not something you want to buy, own or worry about reselling. Wouldn't a buyer wonder how easy it will be resell something that the first seller spent so much effort convincing them to buy in the first place?

When younger used those timeshare pitch events for weekend dates. Never bought one, just used the sales pitch weekends for free resort weekends. The pitches were only about an hour out of the weekend.

Sell it on eBay, as others do, for far less than you paid

I've never been to one, but always thought they gave a pretty hard pitch and then brought out bigger guns when that didn't work.

I was at a time share industry trade show for work about a year ago. One of the exhibitors was a software vendor, whose software was designed to weed our subpar salespeople. It was one of those character/behavior analysis survey things. Imagine why they'd exhibit at a show for the time share industry.

The actual price of the timeshare is somewhat expensive, but the annual maintenance fees will drive you crazy. I think this is something young, and naive yuppies do for relaxation, thinking they will always have the time/energy/money that they do when newly married with no kids.

Yeah I don't get it either.

Got caught in a couple of pitches when I was younger and less wise but all I remember thinking was "that sounds like a lot of ****ing money for two weeks worth of use, why would anyone buy into this?"

I hear them on the radio and TV as well. Some of these companies can be just as shady as the timeshare companies.

I am hoping someone here has had first hand experience.

I did the same thing when we were young.

Did get some free things from it, but wow, those things were the most insane high pressure tactics imaginable. They really get close to the line of holding you prisoner!

Was actually kind of fun, though. Interesting to see how they operate off a script and very effective strategy. (For example, "What are your objections to buying?" Then for any answer you give, they have a response. E.g., "It's too expensive." Answer: "To the contrary, it's the cheapest vacations you'll ever have!")

But sad to see how many people they could get to cave in to the relentless pressure, it was a surprising amount.

find a charity you dont like and donate it to them?

Oh, I'll be using this line a lot!

bottomline..i think you have to sell it.

and DONT add up the cost/fees ever.

i tried to stop a friend from buying one. he didnt listen. and he is not rich. i think he paid $10k and does about $300 in fees..and he doesnt get to use the place for 2 years. he got hosed.

he could rent the best AirBNB for a fraction of the cost. anytime anywhere.

Come to think of it, I have an uncle who's done the time share thing for a long time and likes it. But he and his wife really use it and like beach/resort area-type vacations. I hate that stuff, don't even like them for business trips, so I'd never consider it.

We bought a 1 week/2 bedroom timeshare at the Hanalei Bay resort on Kauai about 12 years ago directly from the previous owner at about 1/2 of what he paid for 5 years earlier, probably in the heyday of timeshare sales. We've been going there annually so we have made pretty good use of it. We've never traded our week as we do love going there on an annual basis so we've probably done ok by it.

Having said that our annual maintenance fee.....hell, everybody knows they only go one way...UP!!!:mad:...has gone from $450 in 2005 to...gulp...$1710 this year! So, with that, I can see us one day down the road trying to unload this thing......so I'm definitely tuned in to what others here may recommend to the OP! Hell yes! How do I get out of it? drcoastline that has been my experience so far.

Cheers!

Ouch, at that price you could almost rent a decent condo for a week with no strings attached.

I had lunch with a friend of my dad's recently who was talking about timeshares, he shared an experience where the initial price tag was $30k. He has zero interest in buying one, after meeting with 5 different people, he said they settled on $2k. But this was 5-6 years ago when the market was crap. He was happy to pay the 2k to get out and if I remember correctly, he may have only gone once in all those years.

My in laws have a timeshare.


I suggested they donate it to some drug addled molestor recovery group.