Post reply
Original Message:
Paying off a timeshare early (by R P.):
nathanm50 wrote:My wife and I have recently been suckered/pressured into purchasing a Westgate timeshare in Las Vegas. However, we live in Australia after looking into it all, i believe it is to risky for us and wish to pay it off now and try sell it (even though we stand to lose a lot of money).I was wondering if Westgate would allow this to happen or are they likely to try weasel their way out of it.
If they are likely to turn down my cash out option, it would be really great if anyone would be able to provide me with some information on how I be able to proceed this issue. My thoughts would be to contact the Florida Attorney General/BBB/ARDA etc.
thanks.
If your timeshare is financed via Westgate then I see no reason why you couldn't pay it off early. The best thing to do is ask Westgate or whatever company that it's financed with.
Our first timeshare we bought from the developer via a processed loan because we would have had to transfer some funds from one account to another when we signed and we didn't have time to to that so we financed .... we don't like debt so we paid it off immediately after transferring the funds with no negative repercussions.
Be aware that timeshares, especially in overbuilt areas such as Vegas, might have little to no value. It depends on the supply and demand of your time owned (ie: special events, Christmas, New Years etc).