Archive for the 'Buying a Timeshare' Category

CNN – The Timeshare Trap

Saturday, January 31st, 2009




The Timeshare Trap - Frustrated with fees, timeshare owners struggle to donate, sell or give away vacation property.

April 3, 2002: 1:01 PM EST By Sarah Max, CNN/Money Staff Writer

NEW YORK (CNN/Money) – If you’ve attended a timeshare sales pitch for free Sea World tickets or a round of golf, you know how easy it is to walk out with not just the freebies, but a lifetime of annual vacation shares as well.

Trouble is, it’s not so easy to dump that timeshare down the road.
(click HERE to read Full CNN Money Article )

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Endless Vacations – Vacation Rentals?

Wednesday, January 28th, 2009

ENDLESS VACATION RENTALS BY WYNDHAM WORLDWIDE –

- Value.

For the cost of a long weekend at a hotel, Endless Vacation Rentals offers travelers accommodations for a whole week in a vacation rental. Plus, there is no extra charge for additional guests up to the selected accommodations’ maximum occupancy – representing a significant per person cost savings.

Independence and Flexibility – Accommodation options available at Endless Vacation Rentals cater to different needs so everyone is able to do what he/she enjoys most. Dad and the guys can watch the game in the living room; cartoons entertain the young ones in a bedroom; while the gals lounge by the pool; and grandpa enjoys an afternoon snooze on the patio/balcony…all before they re-group for an evening grill-out right on-site.

Established & Reliable Part of Group RCISM, Endless Vacation Rentals is backed by a leader in hospitality founded in 1974. Group RCISM is a subsidiary of Wyndham Worldwide Corporation, one of the world’s largest hospitality companies.

Wyndham Worldwide offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands in hotel franchising, vacation rental and exchange and vacation ownership. For more about us, please see the about us page.

(READ FULL ARTICLE ON ENDLESS VACATIONS / WYNDHAM)


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ABC Report with Dave Ramsey – Are Timeshares Worth the Cost ?

Tuesday, January 27th, 2009

ARE TIMESHARES WORTH THE COST ?
Radio Host Dave Ramsey explains why he thinks timeshares are a bad investment !

This is a Great Video that was broadcast on ABC Money Matters Program.

(click here to WATCH VIDEO )

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Confessions of a time-share salesperson from CNN.com

Thursday, January 15th, 2009

By Lisa Ann Schreier
Budget Travel

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(Budget Travel Onlineexternal link) — The slick, fast-talking time-share salesman still exists. He may no longer wear a lime-green leisure suit, but he’s solely focused on the sale — and he’s largely the reason the industry has a less-than-stellar reputation. Some salespeople talk, talk and talk, and never listen to the client. There’s no shortage of unseemly tactics, with questions like “Don’t you think your children deserve better?” I’ve seen a salesperson give a tour of one time-share and then at the last minute try to sell a property in another part of the country. To avoid falling for a trick, pay close attention and never let a salesperson tell you what you want.


A scripted pitch

Although time-shares each have their own phrases, and salespeople have leeway to improvise, there are certain steps all staffers are trained to follow. The script begins with a Greeting; moves on to the Intent, in which a client hears what’s going to happen during the presentation; and then gets to the Warm-up, which is basically small talk. At some point, the salesperson will steer the conversation to the Product, with an introduction to terms such as “fixed week” and “floating week,” before proposing a Vacation Problem Solution in the form of a time-share purchase. Depending on the salesperson, the steps might feel like natural conversation or an extremely awkward blind date.


The puke price

Asking the client to buy is the final step. The salesperson will show a price sheet, often with a figure known as the “puke price” because it’s so high, it’ll make a client feel sick. Shortly afterward, a sales manager — whom insiders call a T.O., as in Take Over — will come in and say something about how that’s the price for anyone who just walked in off the street. The T.O. may then say, “I’m not supposed to show you this . . .” or “We have a special inventory that’s going to sell fast . . .” and offer a much cheaper price — what we call the Nosebleed Drop. Personally, I hate the whole game. It’s a crock. If you want to avoid the gimmicks, insist up front that salespeople show you one price only. If they don’t deliver on this, walk away.


Fuzzy math

I remember how one salesperson used to describe hotel price inflation to an unsuspecting client. “If you pay $100 for a typical hotel room today,” he’d say, “and figure an annual inflation rate of 10 percent, that means that in 10 years, that same hotel room will cost you $1,000!” Actually, even if such inflation occurred, the amount would be $260 in 10 years. Be doubly sure to check the numbers when it comes to financing and monthly payments. In fact, avoid the developer’s financing, which is typically a rip-off. You’re better off finding financing on your own.


No means no

I sincerely believe that for the right people, buying a time-share is a legitimate alternative to paying for hotels year in, year out. But if you’re really not interested in investing in a time-share, don’t waste your time at a presentation. In my opinion, the discount you receive on lodging and entertainment is not worth the few hours of vacation you’re giving up to hear the sales pitch that goes along with the deal. That said, if you’re curious enough to listen to the pitch and decide a time-share isn’t for you, just tell the salesperson so as firmly and plainly as possible. But salespeople don’t give up easily: You may have to repeat yourself a half-dozen times before the message gets through.

Lisa Ann Schreier was a time-share salesperson and manager in Orlando for six years.

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