scammed. are time shares worth it?

We always say no to time shares....until we found the perfect one in Cabo Mexico. Unfortunately it was in the beginning phase of building and the developer ran off with everyone's money. now we're still paying for something that doesn't exist:( I've been looking around and it seems timeshares make sense, but "once bitten twice shy". What about resells? worth it or not? points vs. weeks? is it possible to find a resell that is for life and not just a number of years? again, worth it or no?

janicer98 wrote:

We always say no to time shares....until we found the perfect one in Cabo Mexico. Unfortunately it was in the beginning phase of building and the developer ran off with everyone's money. now we're still paying for something that doesn't exist:( I've been looking around and it seems timeshares make sense, but "once bitten twice shy". What about resells? worth it or not? points vs. weeks? is it possible to find a resell that is for life and not just a number of years? again, worth it or no?

First off, for U.S. citizens, Mexican timeshares are only available as "right to use" (a.k.a. RTU) contracts, for a defined period of time (typically 20 years). That situation is distinctly different from actual deeded ownership, which is more permanent. Deeded ownerships are common in the U.S. (... there are also some RTU "membership clubs" here as well, but only a VERY few of them are worthwhile).

There are no easy or simple "25 words or less" answers to your various questions. You need to make the effort to study and learn about the various different timeshare resorts and systems, study and understand points vs. weeks (and which would likely work better for YOU), study and learn about resale market values, decide where you might want to buy --- and when (which season) you might want to go there. Until you gain real knowledge, clarity and confidence on these issues on your own, you really shouldn't consider buying ANYTHING, in my personal opinion. Remember several important points; buying is always easy, selling is almost always hard --- and maintenance fees are FOREVER (or until you can sell, whichever comes first).

Study and learn. Then study and learn some more. It's a very steep learning curve and you should probably spend a few MONTHS reading through the BBS forums on sites like http://www.tug2.net to gain the basic fundamentals of a timeshare education.

One other suggestion --- DON'T buy something just to "trade" or "exchange" it for something else with one of the exchange companies. If you do, you will be disappointed far more often than not ---and the "exchange" rules change all the time. Buy ONLY what you are actually willing to use (and only buy resale, NEVER from a developer). Buy ONLY in a place you can afford to travel to without going broke just to get there. In the meantime, study and learn. Then study and learn some more. After that, you'll be in a much better position to consider buying something. No offense or disrespect intended, but your questions suggest that you are NOT there yet...

So sorry that your first experience with timeshares was horrible.

I would say the most telling word in your original question was "perfect." It just doesn't exist and is one of my "four words to avoid"...the others being "free", "always" and "never."

There are no one-size-fits-all answers to your questions, which has been one of the major drawbacks to the traditional timeshare sales process from the beginning...the "answer" to all of your vacation problems will inevitably be the resort at which you are at that moment.

Education is key here. 9 times out of 10, resale is the way to go, however, that still does not address the type of timeshare that would work best for you.

If you take a look at my website (www.timeshareinsights.com) and click on the "Books and Services" tab, you will see information on the consulting services that Timeshare Insights offers.

For more information, just e-mail me directly at lisa@timeshareinsights.com.

Looking forward to helping you.

janicer98 wrote:

We always say no to time shares....until we found the perfect one in Cabo Mexico. Unfortunately it was in the beginning phase of building and the developer ran off with everyone's money. now we're still paying for something that doesn't exist:( I've been looking around and it seems timeshares make sense, but "once bitten twice shy". What about resells? worth it or not? points vs. weeks? is it possible to find a resell that is for life and not just a number of years? again, worth it or no?

There's no specific answer to your question as there are so many variables to consider when buying any timeshare, however in this down economy I would rent instead of buying first, to test the water, then you're not stuck with paying maintenance fees and possible special assessments for the rest of your life or until ownership changes hands.

Secondly, I would never buy just to exchange as exchanging also has many variables (ie: trade power of week owned, how far in advance you deposit your week, supply and demand of week/resort requested in an exchange etc.)

If you are convinced that you should own a timeshare, you can find many timehare weeks that people are giving away if you check bargain basement timeshares on Redweek and TUG, however you are then responsible for all future yearly maintenance fees and possible special assessments.

The mantra is to always buy where you like to go and exchange only those years that you don't wish to go to your owned timeshare, but be flexible in what you desire in an exchange. 90% of timeshare owners want 10% of what's available in an exchange and deposit early, at least a year in advance.

Lastly, any timeshare bought in the USA is deeded and not RTU.

BTW, has a lawsuit been filed against the developer of the doomed resort that you have invested in ??? I certainly wouldn't still be paying for something that doesn't exist .... you definitely have a case as the developer breached your (and everyone else that bought in) contract. Perhaps you could get in touch with Profeco (Consumer Protection Agency in Mexico) concerning this endeavor .... they have helped many people that bought in Mexico under unscrupulous sales tactics. You can 'search forums' here to find their contact information.

Good luck whatever you decide.

I have owned "Timeshares" for 12 or more years. I have found both the good and bad and I hear mostly bad from other people so I do not spend my time looking back. I love my "TIMESHARE' with Wyndham and only wish that I had known what I know now back when my children were young. It is the best way to travel and enjoy life and live like you live at home. It is safe, comfortable, relaxing and at a cost far less than hotels. There are a lot of "PITFALLS" along the way so watch your step. For starters most every one will "LIE" to you so you never know who or what to believe. My advise to new comers would be to travel to several-several different ones with the intention of enjoyment and learning and buying later. At times you can rent points from a Wyndham owner at discount rates and travel and enjoy the resorts just as the owner does except for the VIP status offered by Wyndham. Expect to pay about 30% less for condo stays compared to hotel rates. Try to travel off season or expect to pay more. Book early if it's important at top rates or look for bargains later and take your chances. I will leave it at this: I am 78 years old and can stay in Wyndham resorts with all the bills paid, including my choice of where to stay, beach, mountains, golf course, out west or east coast, big cities or the lakes, all for less than nursing home care.

jayjay wrote:

Lastly, any timeshare bought in the USA is deeded and not RTU.

I have personally had several RTU contracts in the U.S, most recently with Perennial Vacation Club (based in Nevada). There are numerous other membership based RTU's within the USA as well. Deeded ownerships are far more common, but it is patently false and grossly inaccurate to state that "any timeshare bought in the USA is deeded and not RTU". Such a statement is absurd and just flat out WRONG.

ken1193 wrote:

jayjay wrote:

Lastly, any timeshare bought in the USA is deeded and not RTU.

This statement is NOT correct, plain and simple. There are actually MANY different RTU (right to use) timeshare membership-based "vacation clubs" in the USA which are ONLY RTU contracts and, accordingly, are NOT deeded.

I have personally had several RTU contracts in the U.S, most recently with Perennial Vacation Club (based in Nevada). There are numerous other membership based RTU's within the USA as well. Deeded ownerships are far more common, but it is patently false and grossly inaccurate to state that "any timeshare bought in the USA is deeded and not RTU". Such a statement is absurd and just flat out WRONG.

Well, EXCUUUUUUSSSSSE me! I stand corrected .... so sue me.

It's just too bad that everyone that posts here to try to help people is not PERFECT like YOU.

Great to hear you enjoy what you have and know how to make the system work for you! You should be congratulated for not falling for the hype! Enjoy.

jayjay wrote:

It's just too bad that everyone that posts here to try to help people is not PERFECT like YOU.

People are helped by ACCURATE information. They are not "helped" by uninformed conjecture or factually incorrect statements.

ken1193 wrote:

jayjay wrote:

It's just too bad that everyone that posts here to try to help people is not PERFECT like YOU.

I'm certainly far from perfect and have never asserted otherwise. However, unlike you , I make certain that I actually know what I'm talking about BEFORE offering my input.

People are helped by ACCURATE information. They are not "helped" by uninformed conjecture or factually incorrect statements.

I have seen you post uninformed conjecture many times .... here and on TUG.

thank you for your info. yes, we have gone through Profeco, but no one seems to be able to find the guy. Unfortunatley, the CC companies still want their money:(. thanks for your thoughts and help

janicer98 wrote:

thank you for your info. yes, we have gone through Profeco, but no one seems to be able to find the guy. Unfortunatley, the CC companies still want their money:(. thanks for your thoughts and help

If "no one seems able to find the guy", you should provide that documentation from Profeco directly to your credit card company, in order to dispute any future charges. It may not help to get any of your previously paid money back, but it may at least help to stop future charges.

Just a thought...

Are timeshares worth it? NO!! The way the timeshare industry is right now is more like a fitness club or country club with a huge non-refundable "initiation fee", and an "annual dues" that goes on into perpetuity. The industry gets to raise the amount of the "annual dues" at will so as to maintain the revenue stream to which they have become accustomed.

Timeshares are a purchase and not a financial or real estate investment.

as said above timesahres are not an investment..........travel clubs are better and have more inventory without paying a maintenance fee. if you buy a timeshare......think of how you will get rid of it later...they are not easy to get out of. and FYI RTU is a certificate of beneficial interest...resorts created this to cover their butts for owners who dont pay maint fees .......they can repo with out difficulty from the owner

danm614 wrote:

travel clubs are better and have more inventory without paying a maintenance fee. RTU is a certificate of beneficial interest...resorts created this to cover their butts for owners who dont pay maint fees .......they can repo with out difficulty from the owner

True, some people prefer travel clubs over timeshares because it suits their travel needs and circumstances better. But many timeshare owners prefer timeshares over travel clubs for a number of reasons. But the statements you made about travel clubs are not totally accurate. Many travel clubs require members to pay an annual fee whether you call it maintenance fee, club dues, or what ever. Most require annual fees.

Also, travel clubs come and go depending on financial stability. If you buy a travel club membership and that club goes belly-up next week, you have nothing to show for what you paid.

And as for them having more inventory, more inventory than what? A lot of what is available with these travel clubs can be found on RCI and other exchange companies. A lot can also be found on travel sites such as Expedia, Trip Advisor, etc. without having to pay a membership cost.

But as for you, if you are satisfied with the travel club to which you belong and it is giving you great travel alternatives to owning a timeshare, then great! I hope you continue to enjoy your vacations. Keep in mind that satisfied travel club members who paid thousands in initiation fees are few and far between.

can tell your pro timeshare....

danm614 wrote:

as said above timesahres are not an investment..........travel clubs are better and have more inventory without paying a maintenance fee. if you buy a timeshare......think of how you will get rid of it later...they are not easy to get out of. and FYI RTU is a certificate of beneficial interest...resorts created this to cover their butts for owners who dont pay maint fees .......they can repo with out difficulty from the owner

I have never been (and I certainly am not now) AT ALL a fan of "travel clubs" and their inherent reservation gyrations and uncertainty of desirable inventory and / or available dates, but to each their own. Also, "travel clubs" can (and do) frequently just fold up tent without notice and suddenly disappear into thin air. No thank you.

Nonetheless, you make a very good and completely valid point that deeded timeshare ownerships can indeed be very difficult to part with later, particularly if it's a low demand week or low demand location or season. I strongly advise people to ONLY buy in the resale market (NEVER directly from any developer) and to ONLY purchase a week (after price comparison shopping) that they would actually be glad and willing to use and only at a resort they know and like in a location they can reliably afford to travel to each use year. Any other type of purchase, in my opinion, unnecessarily tips the "risk / reward" scales in an unfavorable direction, particularly buying something "cheap" just intending to "exchange" it. The whole "exchange game" is an expensive and uncertain fool's errand, in my opinion.

Again however, to each their own.