Thursday, March 24, 2016

Be a Porsche, Not a Kia

If you buy a timeshare from the developer, or have bought one in the past 10 years, chances are you will NOT save money on future least not for 20 years.

There, I said it.

Combine a purchase price of $20,000 finance charges upwards of $15%, with annual fees of nearly $900, annual exchange/usage fees of $300 and you're NOT saving money over the average hotel room rate of $125.

And yet, consumers are hammered day after day with delusions of jetting off to some exotic locale using their timeshare and saving money on top of it.  Most people who are lured into a timeshare sales pitch are not going to Fiji or Australia or even Hawaii anytime soon.  Its quite simple to get a decent hotel room for a week in Orlando or Branson or other locations for less than $1,200.  And that doesn't take into account the purchase price.

I believe that's a good portion of the reason why so many people, owners and non-owners alike, disparage timeshare.  it doesn't fulfill the promise of saving money that was drilled into their heads at time of purchase.

There is a remarkably simple way to stop this. 

Stop marketing the product to people who make less than $60,000 a year and stop with the money saving routine.

I don't think Porsche sells many cars to people who make less than $60,000 a year and they don't compare the cost of buying and owning a Porsche to that of a Kia.

Be a Porsche, not a Kia.

One more thing...the Porsche shouldn't come with two free attraction tickets.  It cheapens the pitch,

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