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Michael W.
So I just got done with the "pitch". They are trying to sell us on this 2 bed / 2 bath villa unit for a little under $19k. Based on ALOT of neg. reviews, is this a good deal?
John P.
NO -- you could invest the $ 19,000 and double that in 4-5 years . you can vacation most places for what the yearly fees will cost you - just saying . people with money don't buy timeshares. there is a reason why thousands are for sale on the secondary market - buyers remorse - also financing this would not be wise, that's how they entice you. banks do not want to get burned either and that's why they will not finance this stuff. it has no real tangible asset value. the timeshare people that sell this product are usually young and motivated by commission - even they don't understand the fine print on the contracts and that's what gets you into trouble . you will loose 70 - 80 percent when you go to sell it. the timeshare vacation clubs don't want it back either. buying points is a joke - it is just a way for them to manipulate their funny money monopoly currency. invest your money into your family not prepaid vacations and by all means do not put yourself into more debt
Last edited by johnp2144 on Sep 26, 2019 04:34 PM
Lance C.
I second what John P. said. If you have already purchased, make sure you rescind.
A H.
I agree with John P to a point. But, No one is doubling investments in 5 years (especially with taxes). And, Money needs to be spent if you want luxuries. Time shares are notoriously poor investments. I have a timeshare in Cabo, thanks to my ex-wife. The same room is for resale on this web site for $1,000 (I think she haggled and got the same thing for $9,000) with the same $600 maintenance fee. That is not a bad deal. It sells on travel sites for hundreds per night, and on Craigslist for $1,000 per week. As long as you want to go to the same place year after year it looks like a good value. The catch with all such things is that the sellers shroud the details. Whether it is a mortgage or a time share they can stick you with hidden fees and costly stipulations. West gate is doubtless hiding the details you need to make an informed decision. I would like to hear about exiting from these deals. I am keeping mine, especially if I can only get $1,000 for it, but I think that is half of the answer to the OP,s question.
