Finance Willie Bird on 15 Oct 2008 03:05 pm
Sidestep The Dangers of Resale Timeshare Scams
If you’ve been around for a while, no doubt you’ve heard of resale timeshare scams and the woes they can cause people. In fact, these scammers can do everything short of keeping you hostage to try to make you buy. In general, the industry impressions are certainly negative. How do you avoid getting taken advantage of by getting roped into a timeshare scam, then?
It’s a pretty good bet that you shouldn’t even get involved in the first place. Timeshare companies are notorious for saying just about anything to get you to come to their “presentation,” only to then keep you hostage until you eventually drool, your eyes glaze over, and you sign on the dotted line. (At least, that’s what they hope is going to happen.) You’ve seen the advertisements: “free tickets and complementary hotel accommodations for three days and two nights at a beautiful resort. For this, we just want you to take a small tour of our resort. Give us your feedback, and enjoy your stay!”
I’m sure that almost all of us have heard something to this effect over the years.
However, what you usually don’t hear is that the person you’re talking to is going to be taking your money and selling the rights your tour to some other company, thus “stealing” from you. In addition, you may very well not get some or even any of the things you were promised, including a reservation.
Hotel room? Not likely. Yes, you paid for it, but it’s not likely to be there once you get there.
What about that “90 minute tour”? Well, that’s usually really about six hours long, and it’s not a tour at all. Instead, it’s hard-core negotiating reminiscent of a hostage situation.
They’ll start out by telling you how much money you’re wasting by not owning a timeshare. They position it as you’d have to be some kind of an idiot to not buy the timeshare immediately.
They’ll then throw out some astronomical number that you might not spend over 20 years of vacationing. Although we will undoubtedly vacation for 20 more years, the likelihood of this company still being in business after 20 years is slim.
If you are somehow brave enough to tell the first guy who accosts you “no,” they’ll persist, look at you like you lost your mind, and bring in someone called a “closer.” This “closer” then throws in another offer that’s usually less than 50% of the first offer to make it look as though you’re REALLY, really getting a steal.
If you somehow are brave enough to tell them both no, another person will then be sent to the table to take a “survey” of how you were treated. Part of the “survey” is to offer you another price that’s like a third of the first price you saw.
If you do go, stay firm. Don’t fall for any of their tactics and if you don’t want to buy, don’t. You should never let someone pressure you into buying something you don’t need or want. Not only will it feel like wasted money, but it really will be, because you might walk away with nothing after you’ve handed over your cash. It’s just not worth it, is it?
