I go on vacation once a year to different parts of the country. should I consider getting a vacation timeshare. Would that save me money. Are they a waste of money?
2007-01-02 09:52:17 · 5 answers · asked by Murad R 1 in Business & Finance ➔ Investing
Do not buy a timeshare for financial benefits, they simply don't exist. There is a glut of hotel rooms today. Try priceline.com. I've been able to save a huge amount of money using priceline.
2007-01-02 12:09:27 · answer #1 · answered by nickfromct 3 · 0⤊ 0⤋
I have owned 6 weeks of timeshare for the last 10 or so years, but then again I travel on average four times a year all over the U.S. In the event that I don't plan on traveling, I look up events going on and then reserve a week during the event and rent out the timeshare. I own week 52 in Las Vegas. I bought it for $26,000 and the last three years I rented it out for $10,000 (sleeps 8 people on the strip) One of the good benefits is that you can write off all of the expenses of the timeshare (income tax, interest, maintenance, etc.) There is a lot of research you should do on your own before diving in. No matter what you do, DO NOT buy from one of those weekend getaways were they pitch you in an hour and then try to sell OR from one of those adverts that tell you they buy and sell timeshare cheap. There best deal is usually twice as much as you can find it on ebay for.
2007-01-02 12:05:59 · answer #2 · answered by flyingrizzly 3 · 0⤊ 0⤋
ABSOLUTELY NOT!!!
Basic math...(mine for example)
Cost $10000 ($18000 at end of loan)
1 week in Vegas, lets say...$2000
Limit...Only use once a year.
You have to go to Vegas for one week EVERY year for 9 years just to break even.
BUT...ALL timeshares have a maintenance fee...Usually about $800 each year you are able to use. (2 weeks every other year = $800 every other year)
> IF you miss a year with a timeshare...You loose your time.
> IF you miss a year WITHOUT...You SAVE the $2000 that year.
Most travel agencies can get SUPER discounts on a "vacation package" that just blows away any timeshare deal.
2007-01-02 10:04:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I have never owned one, but the hard sell that usually goes with a Time share usually indicates a bad deal.
Some people enjoy them, especially if they like going to the same place every year. Otherwise, I have heard that they can be hard to get rid of once you have purchased them.
2007-01-02 09:55:29 · answer #4 · answered by Mr 51 4 · 1⤊ 0⤋
Only if you travel alot.....and you should go with Starwood you can trade points for hotel and spa stays
2007-01-02 10:40:26 · answer #5 · answered by seriousddneeded 3 · 0⤊ 2⤋