I am being offered a timeshare plan by Wyndam hotels but I am very skeptical about everything that involves money. Does anyone know if these are really as great as they sound?
2007-09-03 05:07:55 · 8 answers · asked by Blue 4 in Business & Finance ➔ Investing
I have owned a timeshare for a long time and use it faithfully. As a matter of fact, just about everyone in my family owns one. I love the ability to swap anywhere in the world and know that I will be getting a nice place to stay for my family.
Timeshares can be tricky. You need to know what your yearly maintenance cost is, if its a deeded property, how much is the timeshare worth, are you swapping weeks or points, what your swap fee is, what type of week is it (IE red, blue...) etc.
Redweek.com has some good information regarding timeshares that you might want to look at before purchasing.
If done right, timeshares are awesome, just watch out for shady deals.
2007-09-03 05:22:20 · answer #1 · answered by Joanne D 3 · 0⤊ 0⤋
I use to work for a resort that sold timeshares and I handeled all of the contracts for them. To start off there are 2 types of sales people. There are timeshare sales people and then there are all the rest.
Timeshares are great if you plan on going to the spot over and over again. If you are looking at banking it that is where it gets more expensive! To "bank" a week and use it somewhere else you will have to join something like "RCI". Pretty good company, mixed reviews on the amount of times you actually get into the place you want. You will have to pay yearly maint. fees and then if you join RCI you have to pay their yearly fees. Then if you 'spacebank' you have to pay a fee on that.
Overall they are great for awhile, but they are not everything they are cracked up to be.
BEWARE OF THE SHADEY SALESPERSON!
2007-09-03 06:45:25 · answer #2 · answered by April W 1 · 0⤊ 0⤋
Get your sharp pencil and figure how much you would pay out of pocket for what you will get from the time share (up front cost amortized over a couple decades plus annual maintenance fees) and decide which is the best value. Don't even think of investment possiblities. There are numerous time shares for sale on eBay, some for under $250.
2007-09-03 05:24:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They are usually a very bad investment.
We bought one 20 years ago ... bought it from an individual who simply wanted to get out of their payments and we paid cash for. This has been good for us, but the circumstances were very unique. But, we've been to a few "presentations" since, and they are very bad deals.
2007-09-03 05:20:40 · answer #4 · answered by jdkilp 7 · 0⤊ 0⤋
I have read and heard on the radio many horror stories about buying time shares.
Stay away.
2007-09-03 05:16:36 · answer #5 · answered by mister_galager 5 · 0⤊ 0⤋
Save your money instead and use it to take a vacation wherever and whenever you want, i.e. on your terms, not on Wyndham's.
2007-09-03 05:42:37 · answer #6 · answered by marathonbdogg 2 · 0⤊ 0⤋
Time shares are "not" good investments. I have read several articles on that.
2007-09-03 05:15:09 · answer #7 · answered by Anonymous · 0⤊ 0⤋
check this link its good
http://workathomeandearnmoney.blogspot.com/
.
2007-09-05 03:40:49 · answer #8 · answered by Anonymous · 0⤊ 0⤋