Timeshare Rental and Resale Markets
If you are reading this article, you’ve probably asked yourself, how can I get rid of my timeshare contract? If you’ve taken a vacation with a major timeshare resort such as Wyndham, Hilton, or BlueGreen, chances are you’ve attended a timeshare presentation. Hopefully, you were able to see through the smoke and mirror show and resist buying.
But if you did purchase a timeshare or buy into a Vacation Club and realized it’s not for you, it’s okay. You still have options to get out of your contract. Depending on which state you were in when buying your timeshare, you’ll have a grace period i.e., a short window of time where you can give back your timeshare to the company without penalties.
Many people fall victim to fast-talking timeshare reps who promise you the dream life, but, in the end, it ends up costing you a lot more than money. The timeshare rental and retail market though, is booming. Booking the same resorts on a secondary market site such as VRBO is smarter.
Stop asking yourself how to get out of your timeshare contract and take action. Linx Legal will explain why canceling your timeshare is the smart choice. Start by taking the quiz below to learn all about Linx Legal’s timeshare exit packages.
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Deeded ownership is legally owning the usage rights of a timeshare property. The deeded way of owning a timeshare makes owners’ feel like they own something of value, which is not the case. You are buying a deed to a specific week, resort, and unit size. It has little to negative resale value.
Deeded timeshares are real estate, not personal property. You have equity and partial ownership in the property, which you share with other timeshare owners. This means you incur all the risks, costs, and obstacles, like hurricane damage, that comes with owning an actual property. You must pay increasing maintenance fees, insurance, and property taxes on your timeshare for life as part of the contract.
Who is buying timeshares and Why
The Baby Boomer generation (1946-1964) was the first to create the concept of renting weeks of the same property shared among people. The idea took off, and the Boomers jumped the chance to own a piece of the American dream. But did they really own anything?
Much like a car (much worse actually), a timeshare contract loses value the moment it’s signed. The timeshare becomes practically unsellable when more people buy into the concept of timeshare ownership.
Now that the boomer generation is aging, and timeshare companies have to find new, unique ways to pitch to Millennials (1981- 1996) and Generation Zers (1997-2012), they’ve created the term Vacation Club, which is the same thing. These younger generations will be smarter at choosing how they vacation.
Unlike their elders, they will not be easily swayed into giving away more money than they have on hand. Timeshare statistics show as new generations, like GenZ, create better ways to travel, the idea of timeshare ownership will become the way of the dinosaurs.
Two Couples Take the Same Vacation
Devon & Kate bought a timeshare in Orlando, Florida, through Club Wyndham Vacations for $40,000 plus $700 a year in maintenance fees (which are for life). The timeshare kindly helped them secure a 14% interest loan. Devon and Kate get one week in June per year at their timeshare rental in Key West. Over ten years, Devon and Kate have paid $5,260 each year for their one-week stay in Florida. How does that make sense?
Blake & Stella go through RedWeek.com and book the same condo at Club Wyndham in Orlando as Devon and Kate. However, they are free to go anytime, so they book a spontaneous trip this weekend. They pay $800 for the week through the secondary timeshare rental site. Blake politely refuses the request for a timeshare presentation. Instead, they spend that time swimming with dolphins.
Even though this seems like common sense, the timeshare industry uses psychological trickery to confuse and overwhelm you into thinking you’re getting the best deal around by purchasing a timeshare. Untrue.
What is More Valuable
- Money, it’s what makes the world go ’round. But even more valuable than money is your time. Paying even $10,000 plus yearly maintenance fees of $500 a year is ridiculous. Not only are you trapped in the same vacation over until you die, but the money you fork out could be used for future needs like retirement, long-term care insurance, or your children’s inheritance.
- Time. Be greedy with your vacation time and skip the timeshare presentation. The promise of a 90-minute presentation always ends up being 4-5 hours of your life you will never get back. If you must go on a presentation, because you already took the 3-night trip offer in exchange, then get up and walk out at the 91-minute mark. You are not bound to stay any longer than required to fulfill your free-trip obligation.
Too Many Timeshare Sellers
If you think you’re going to sell your timeshare when you grow tired of it, think again. The market is oversaturated with sellers trying to unload these financial weights. Many desperate owners are scammed by timeshare sellers, promising to sell their timeshare on their behalf. Only to take their money and never deliver on that promise.
After researching, how to get rid of my timeshare, owners become overwhelmed with information. So some will list it on Ebay for one dollar. But seller beware, contracts between the buyer and seller on secondary sites often have a clause leaving the seller on the hook for life’s maintenance fees.
So how do you get rid of your timeshare for good? Hire a top-rated, ethical Timeshare Exit Company like Linx Legal, is the answer. We are not a timeshare reseller or renter, nor we an expensive law firm. We are a top-rated timeshare cancellation company with stellar reviews.
Linx Legal Timeshare Exit Company
At Linx Legal, our team of exit advocates will fight on your behalf to you out of your timeshare contract. Our A+ rated service on the Better Business Bureau proves that we do what they promise.
- Answer all your questions during your free consultation.
- Linx Legal will never put the client into foreclosure.
- In the rare case they cannot cancel out your timeshare debt, Linx Legal will refund 100% of your money in a timely manner.
- To update the client’s weekly on the progress of the exit process.
Contact Linx Legal to find out more about how they’ve helped 98% of their clients get rid of their timeshare debt.
- Take a few minutes to fill out this basic questionnaire
- Call us toll-free at 1-800-604-3989