In a recent article, I saw that Wyndham Destinations, one of the largest developers in the timeshare industry, is claiming that a timeshare is the same price as, to quote, “A Peppermint Mocha Per Day”.
That math falls apart almost immediately when you look at the way they calculated this. Again, to quote, “The average cost of a Wyndham timeshare is $21,000, plus annual maintenance fees from $725 over the course of 40 years, which is equivalent to $3.40 each day. Financing costs and loan length are not considered.”
Fab. How many people are paying cash for their timeshare? Most are paying the ‘convenient’ 14, 15 or 16% interest offered by the developer. Oh, and they didn’t factor in the cost of the annual increases in maintenance fees. And they didn’t factor in the cost of making a reservation using the timeshare, nor the cost of membership in an exchange company nor for that matter, the cost of making an exchange with the exchange company.
In my opinion, in trying to make a timeshare appear inexpensive-which it isn’t-they only succeeded in sounding desperate. Surely they can do better, can’t they?
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