Why Timeshares Aren’t Worth It

Nearly 10 million U.S. households take part in the $10 billion-a-year timeshare industry dominated by companies like Hilton Grand Vacations, Marriott Vacations Worldwide, Wyndham Destinations, Westgate Resorts and Capital Vacations. But while Americans are eager to buy a timeshare, 85% regret their purchase, according to a study. In the past three years, more than 3,000 Americans have filed complaints against the three largest public companies through the Better Business Bureau. Watch the video above to learn more about why it is so hard to get out of timeshares.

Chapters:
0:00 —1:19 Introduction
1:20 — 5:24 The business of timeshares
5:25 — 8:54 The exit industry
8:55 —12:08 Getting out

Produced and Edited by: Ryan Baker
Animation: Christina Locopo
Senior Managing Producer: Tala Hadavi
Additional Footage: Getty, Sheila Wagner, Tom and Kelly Shriver
Additional Sources: Reuters

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Why Timeshares Aren’t Worth It

[Skrivus]

The fact that there is now an industry of lawyers that exclusively deal with getting people out of timeshare contracts is all you need to know.

[geo]

She took a 30k loan with 15% APR to buy a timeshare? If Capital Vacations wasn’t going to scam her, someone was.

[anthonydeskins]

Got suckered into two timeshares while visiting Orlando in 2023. Wyndham has a booth at Seaworld. They picked me out of the crowd and said that I look like a guy who wants to save money. Ended up going to a Disney resort for a timeshare with the promise of a free week of vacation. They used high pressure sales tactics to get me to sign up for a $20, 000 vacation club. I guess you could say my guard was down. What’s worse is that Westgate also offered me a vacation club which I accepted that same trip. Realizing I had made two gigantic mistakes, I had only 3 days to cancel my Westgate contract and 10 days to cancel Wyndham. Once you sign the contracts, they could care less about you. Good luck talking to anyone to even book trips. It’s the most legal scam ever. After several cancellation letters and next-day mailing totaling $250, I got out of my two contracts by the skin of my teeth. Don’t ever get suckered in. If you do, make sure you following the cancellation terms to a T.

[kirkp_nextguitar]

I told the sales rep that we have a policy of never making a major commitment until we have slept on it. He stressed that the “special deal” was only available today. My response: “So after I’ve slept on it, if I decide I want to take that deal, I shouldn’t bother calling you?” Of course, he back-pedaled in a hurry.

I’ve been telling people to avoid timeshares since I first heard of them around 1990.

[TheJimmy]

I recently found out my future in laws got suckered into buying a timeshare/vacation club. My stomach dropped when they told me. Already explaining to my fiancé that under no circumstance will be ever have anything to do with these. I truly can't fathom why anyone would want to go in massive amounts of debt with interest just to be limited on where they can vacation and be stuck with nonstop fees. Just save up for the vacations you actually want to take. If you cant afford to pay for it in full, then you can't afford to go on vacation. It's that simple.

[XennialGuy]

My wife and I attend timeshare presentations once a year, usually in Florida. We do it for the sole purpose of getting a free week stay at the resort, no less. It gives us great pleasure wasting 1 or 2 hours of their time, to then walk out with our free week, and sometimes more. I would never recommend this to impulsive buyers or those that don't know how to say no. You have to go into these things with a mission in mind.

[portfoliotrader]

The fact that the government acted against the 'exit' companies but not actual time share companies says it all

[saintriss]

My friends and I have literally crawled out of a hotel window to get out of sitting through a timeshare presentation 😂

[linhaton]

One of my friends invited my husband and myself to their timeshare in Mexico. All we had to pay for was the all inclusive fee for food and drinks. My friends who owned the timeshare were required to pay this fee as well to use their timeshare. I called the hotel and was able to book the room for less than my friends. They had already spent a good amount of money for this timeshare, plus annual maintenance fees. I was able to vacation for less than them for a week. Don’t ever buy a Mexico timeshare.

[BoopOnYourNose]

Many years ago my husband and I were vacationing in Mexico, and were told we'd get a free breakfast buffet if we went to a "short" presentation. Well, we were hungry so went went and brought our appetites. They held us captive fir over an hour while we could smell the delicious food in the other room but weren't allowed to touch it. Finally we got to eat, and the food was delicious! After breakfast they still wouldn't let us out. We had to sit through another pitch. Then they came around with the contracts. I couldn't believe that some people actually signed up! Be we kept saying no. They went through salesperson after salesperson trying to work on us. When it was clear we wouldn't sign, they brought over this big tough guy to try to threaten and intimidate us to sign! Then the group leader said it was time ti tour the property, and that it would be mandatory for us to go with them. As soon as we got outside we bolted. NEVER CAVE IN!! IT'S A SCAM!!

[AlanSmith]

As a tourist in Florida, they made me sit through a timeshare presentation just to get free/discounted tickets to Disney world. It was worth it, but they do employ decent sales tactics. I can understand how Americans would be tempted as a foreigner who went through

[yousguys]

TOP TIP for dealing with High Pressure Timeshare Sales Presentation:
I brought along a full sized bag of extra crunch potato chips. Every time the presenter got to a dramatic sales pitch part, I started rolling my bag of chips. It was loud.
Then I would stand up and say "My bad." and sit down, because I am English and that's the polite thing to do.
That lasted about 10 minutes then they asked me to step outside.
As I went outside, I passed by the table with the giveaways and I took my two champagne bottles and two envelopes filled with COCO BONGO tickets with me.


That's called WIN - WIN!

[hbarudi]

This is a time when we need to either heavily regulate or outright ban this "timeshare" system.

[josephbscott]

As someone who worked in the TIMESHARE industry management for 17 years (not in sales!)
My advice is simple:
NO. Hell NO !
Never buy one!

[charliej]

I traveled to Barbados with a family friend and this handsome young man approached us offering a free bottle of rum to watch a presentation. I immediately said nope but she wanted to go. Since we promised to stay together while traveling I accompanied her. It was a time share pitch. I got my rum and said no thanks. I tried to convince her not to do it but she was sucked in. Three years later she was still complaining about how expensive it is and she was struggling to get rid of it. I just don’t get it. As soon as I heard the cost vs reward I knew it was a ripoff. Why can’t others see it?!?!

[ponchoro]

I'm not minimizing this industry's terrible practices, but people's lacking of financial education is a key factor in all these "scams".

[OmegaBlitzkrieg]

I had to sit through one of their pitches with my wife after the in-laws invited us on a vacation. These people are blatant, ruthless liars. They tried to justify numbers that didn't make any sense and had a stupid rebuttals anytime they were confronted with basic math or logic. At one point they brought over their "two best salespeople" and tried dividing my wife and I because she seemed more interested in their BS. After standing firm, one of them got condescending but when you go low, I take it to the floor. They no longer wanted to speak to me shortly after. Never waste your money on a timeshare.

[timewind]

I remember being lured to time share presentation back in 2004. I was 23 years old. But even then, the whole experience was extremely strange and suspicious to me. Years went past, and I was almost certain that people learned that time sharing was a scam of the past. After watching this, im in state of shock. i couldn't be more wrong. It's amazing that now, in 2024, more people are falling for this despite having instantaneous access to an enormous amount of information. People will never stop being stupid and naive

[travisswiger]

Best advice - get a friend that already has a timeshare. Good Buddy of mine sent me to Vegas for a week at the Wyndham Desert Blue this past October. I had a 2 bedroom suite all to myself - It cost me $0. The place was very nice and quiet. When I initially checked in, they tried to give me my "Free Gift" which could have been a gift card or another trip "on them", but this required attending their 2-3 hour "presentation". I told them I didn't have time for that and then I was left alone. I should also note - I was there alone. Single Guys aren't their target demographic. They're looking for couples and married folks.

[benbazy]

Took a free weeks vacation in Vegas knowing we were going to have to sit through a timeshare sales pitch. I scheduled it the 2nd to the last day of our stay and we used a pre-paid credit card to cover the incidentals. Excused myself after 20 minutes when it started to go the the bathroom. I pulled the fire alarm and evacuated with everyone else, enjoyed our last day on the trip and went home.