Timeshare info needed

[Rockford35]

Anyone here do the Timeshare thing for places like Mexico or the Caribbean?

The inlaws are thinking about making the plunge on this, but i thought i'd throw it out there to see if anyone had any insight or thoughts about this. I know there are always success stories as well as the horror stories, but having a little background or experience thoughts would be great.

Pros?

Cons?

Suggestions?

I'm 99.9% sure it's going to be someplace in Mexico, and i'm unsure if they want the floating type where you can trade up, ect.

I've never looked much into this, any info would be great.

Thanks,

R35

 

[DaveE]

We went through the sales process once at St. Thomas. It was tempting but for us it would have been a huge mistake. Mainly because we wouldn't have wanted to go back over and over again to the same place.

But hey, they gave us a free rental car for going through it so we had that going for us, which was nice.

 

[Bravo]

Rock:

We almost did a timeshare in Vegas a year ago. In fact, we entered into a contract and backed out...

While I was at the office cancelling my agreement, I ran into an owner who was checking into the property. I told him I was backing out.

He said that he had over 20 years of timeshare experience and it was 90% positive. Apparently the industry started in the 70's with some slimy people and while they are still around - it has mostly cleaned itself up.

He told me that cancelling was a good idea, not because the company I bought from was unreputable. He said the very best way to get good timeshare bargains was in the "aftermarket" where there are organizations (kind of like realtors) who act as brokers between buyer and seller.

I would Google up 'timeshare' and start doing some research. There are a couple of blogs and boards where you can inquire about which companies are best and there definitely ARE differences in how they operate.

The Hilton and Marriott hotel organizations are now in the business. Not only do they have free standing resorts that can be used by timeshare customers, but their hotel properties can be used also. Remember that when you buy a timeshare - you are exchanging currency for an annual "point value". These points can be used in a variety of ways.

My wife and I may look into it again if business improves. After talking with the guy in line, I felt confident that there were good reputable firms out there and he had thoroughly enjoyed his usage over the years.

 

[VtDivot]

Been to a high pressure sales type thing (to get some free tickets), and while the resorts are beautiful etc, in my opinion you are not saving any money by doing this.


You pay an upfront cost for your timeshare
You pay a yearly maintenance fee
You pay dues to be a member of either RCI or II
You still pay for food and flight

The only way I think it might be a good cost saver, if a family would buy multiple bedrooms and had a bunch of kids or perhaps other relatives they'd like to bring along.

My wife and I head south every year (solo for now, mostly cruising) but that will soon end when we need to start taking Cameron to Mickey World. At that point we MAY look at a timeshare in the Orlando area and then trade when we don't want to go there, but it is a longshot.

Not sure if this helps...

 

[Rockford35]

Hmm, good words.

This is sorta my thoughts on this from what i've been told or read.

The two guys in my office that have done it in the past both walked from it as it became the same, if not more, to pay all your fees and memberships rather than just grabbing a huge deal from a travel agency. Lots of time during the year you see Mexico, some place like Puerto Plata or Vallarta for 8 days, like 1200CDN including meals and flight (brekky and lunch, no dinners). That's dirt cheap.

I think the idea that has appealed to the in-laws is that they have family friends that bought into this "swappable" time share. You basically put in your request for two or three places during a time of the year and the 'agency' takes care of the booking. They (the other family) has nothing but good things to say about the places they've been, stayed or dealt with. The only negative is the flights, as sometimes you get milk run flights, which is sort of a pain in the ass.

I'll have to do more reading. Ultimately, I'm not paying a red cent, but if i'm going to be invited on a holiday, i'd like to know what the details are beforehand....

R35

 

[Bravo]

FYI - the one we encountered was called Fairfield Resorts. The customer I talked with told me they had done a good job for him over the years.

One thing I considered before I signed up with this organization was "how many properties do they have within a 1 day drive"? This of course, would take the cost of air travel out of the equation on those years when you decided to stay close to home.

The other thing the guy told me was that if you buy your timeshare through a broker - there is (obviously) No high pressure sales pitch because you are dealing with them over the phone/internet - evaluating dozens of possible deals and the cost per unit is lower. If you buy a timeshare for the first time while on a property (like we almost did) the cost is higher because they pay a handsome commission to the salesguy plus they usually throw in some "sales incentives/premiums" such a a couple of free nights in Hawaii etc. They pay for these 'premiums' by increasing the initial cost of the sale...

Just for funzies...look at Fairfield Resorts to get an idea of what they offer. BTW, unlike HIlton and Mariott they have no hotel properties (that I know of) but they claim to be superior anyway....

 

[DaveE]

The Hilton and Marriott hotel organizations are now in the business. Not only do they have free standing resorts that can be used by timeshare customers, but their hotel properties can be used also. Remember that when you buy a timeshare - you are exchanging currency for an annual "point value". These points can be used in a variety of ways.

Get them to go for the Marriot deal and you could come down here and stay at this one. It just open a few months ago and has access to 3 great courses in the area where I office.

http://marriott.com/property/propertypage/AUSHB

 

[Clarencuzio]

I had a professor last year who had a time share for around 10 years or so and had never once stayed there. There is a website where you can trade your timeshare for someone elses each year, basically I think he would post his for available and if anyone wanted it they could take it. I think that the site had a rating system based on the value of the time share you offerred, so like if your time share had a rating of 5 you could pick up someone's time share to use, but if someone had a rating of 8 then they could take it from you.

His was a cheap one so he would decide when he wanted to go somewhere for vacation, and a few days before would look to see what was available for the next week. I can't remember the website, but from what he described it sounded like a nice deal, he said he stayed in some great places over the years. Also, I guess owning a time share gets you lots of invites to places trying to sell time shares, which he would go to when he was invited (3 free days or something? not sure)

Just something for you to think on.

 

[Dogert]

I agree with Bravo. I am a Realtor and the best way to get into timeshares are through the aftermarket industry. Banks put mortgages in place for consumers but once they are closed on the banks Sell them to the Federal Govt. for 97-99cents on the dollar. Same aspect for Timeshares.
If anyone is interested in a fantastic golf house for sale let me know! I have one for $259,000 with over 2100 sqft with an additional 1900sqft in a daylit basement in Cedar Rapids, Iowa Right on the 5th green

 

[Dogert]

You can reach me at [email protected] or 319-431-2578

 

[VtDivot]

I agree with Bravo. I am a Realtor and the best way to get into timeshares are through the aftermarket industry. Banks put mortgages in place for consumers but once they are closed on the banks Sell them to the Federal Govt. for 97-99cents on the dollar. Same aspect for Timeshares.
If anyone is interested in a fantastic golf house for sale let me know! I have one for $259,000 with over 2100 sqft with an additional 1900sqft in a daylit basement in Cedar Rapids, Iowa Right on the 5th green

Ha... this would cost over a million in New England

 

[ualtim]

The wife and I are members of the Disney Vacation Club (somewhat similar to time share) and have enjoyed it. They have 7 resorts that are in their system (5 at the resort in Orlando, 1 at Hilton Head, and 1 at Vero Beach.) In addition, you can use your annual points at select resorts around the world on a nightly basis (The American Club at Whistling Straits is one example) or exchange points for a week at an interval international (time share group) almost anywhere in the world. Obviously, the best value of your annual vacation points are at one of the 7 DVC properties, but you can go outside to the other options at reasonable rates.

DVC has zero sales pressure, its Disney after all. They figure either your going to love it and sign up or its not for you. You can find deals on resales and there are a few resellers on line if you want to investigate the cost difference and would prefer not to deal directly with Disney. We originally went on the tour as we heard that you could use your vacation points on cruises (both Disney cruises and HAL cruise in Alaska only) but did not find it to be that great of value versus paying cash. We did, however, decide that is was very affordable and met our expectations for our future vacation plans and decided to join. While we live just 15 mins away from the resort, we joined for the Hilton Head and Vero beach options as well as selected nights and weekends through out the year at the resort (Food and wine festival at EPCOT is a must!). Additionally, there are so many resorts on the II list here in Florida that there will be plenty of opportunities for future vacations within driving distance to keep us entertained for years to come.

DVC is not for everyone, but it is an option if you are looking for vacation club/time share options.