Whether you own a timeshare, are thinking of purchasing a timeshare, used to own timeshare or find yourself in front of a timeshare salesperson, you're bound to come across some timeshare myths. Here are the Top 5 I run into:
1) Timeshare is a less costly vacation alternative to renting hotels.
In rare cases and when purchasing on the secondary market, this may be true. For the majority of owners, you'll be paying more when you factor in the purchase price, annual fees and exchange/usage fees. That's not necessarily a bad thing.
2) Real estate based timeshare is an investment and will appreciate in value.
NO, NO, NO, NO. A million times no,
3) You can hire a company to get you "out" of your timeshare because the sales presentation took more than the agreed to 90 minutes.
The length of the sales presentation has nothing to do with the legality or enforceability of the contract.
4) Brand name timeshares are better than others.
"Better" for who? Based on what? Each person has different needs. Don't fall for generalizations.
I've purposely left off Number 5 on this list. What's the biggest timeshare myth you've encountered?