Went to a timeshare presentation in Orlando for Wyndham. We were required to give them 2 hours. A minute or two after the 2 hour allotment I said time was up and I wasn't convinced. We had an hour before having to be at a Disney park so my young daughter could have lunch with the princesses. Twenty minutes later of their trying to convince us, I mention it was important for us to not be late to the lunch. The sales lady made the mistake and crossed the line by saying the timeshare was more important. Needless to say, yelling was involved, priorities were set, and the sales pitch was over. I guess they didn't want me to sour the other sales. Nobody tells me my daughter comes second!
So you signed yourself up for a tour and then started yelling, causing a scene, and disrespecting the staff? All for trying to do their job? You could have just left. No scene. No drama. With respect and dignity. Unless ofcourse they had you handcuffed to the table or something. In that case I'm on your side.
I 100% agree with that. Most hotel chains have loyalty programs where members can apply their points to free hotel stays and then, they can go on about their lives without having to worry about paying ridiculous time share maintenance fees. Plus, many credit cards give out travel points that can be applied to free hotel stays. There is also usually an option to get a larger hotel suite for people who need lots of space. Time shares are a poor investment.
I remember when I was very young me and my parents when to a time share meeting in Tyler, Tx. I remember the salesman asked me to ask my dad to buy the timeshare. Now I think about that I am greatful my dad didn't take the bait and how stupid I was. That was very dirty sales tactic to use a kid like that.
Verizon and att give you free iPhone 13s $1,000 off no contract just 1000$ split up in 24 months, so you never make a single payment of the phone There is tons of things for free with detail You’re a clown
Years ago some friends of mine went to a Catalonia resort talk and bought into one of these deals and now if I go with them those are the only resorts we go to. To top it off they will only go to two of the resorts from the company. It's such a drag and they have years left on it.
Thanks Sebby!!! I would never sign up for a timeshare, but I did sit through one of the "meetings" for discounted Disney tickets in Orlando. Almost 4 hours later I got the tickets, $350 discount. For me it was easy saying no, I am a numbers driven person almost never have impulse purchases.
i simply dont understand how timeshares and the sales tactics to trick you into it are not illegal i went in one and they threw everything but the kitchen sink at me to try to get me to sign up....they even tried the wait me out to stop me from getting my promised gifts.....this was one of the few times i was thankfull im an emotionless person....i got my 200 promised in cash and a free breakfast and they got nothing from me
I agree, I could never understand Timeshares - you are locked into a lifetime commitment and the fees are outrageous. You are better off signing up for the hotel benefits, etc
Credit card points for the win. Having the freedom to go where you want and when you want is priceless. You also are not tied to anything with a contract or fooling yourself thinking you "own" property. Work on consistently getting status on a hotel program to reach top lifetime status. That's more worth it.
I attended a Hyatt presentation. I decided it wasn’t for me. They started at 15k and came down to 10k and the VOA was 1200 annually. It sounds great at first. They really push the initial fee is only 10k !!! Wow sounds great, all the vacations you can take for the next 50 years (I’m 33 assuming I live to 83). What they don’t talk about much at all is the VOA. 1200$ a year, over 50 years is 60,000. So that takes what was 10 grand and turns it into 70,000; to top that, you basically have no control over VOA dues and that they are subject to increase, they also don’t cover the fine print of “special assessments” where they basically can just hit you with a major increase for “remodeling” etc… the last thing is, inflation is also a factor… so when you factor all that in, 70,000 can easily be 100,000 over the 50 year term and then you die and basically leave that commitment to your kids. Sorry but that is just not a good deal in my opinion. I’d rather have the freedom to not spend, and when I want to travel book what I want or look for a deal, but I’d always have the option of not spending. Basically your gonna spend either way, if you travel independently spending or if you have a timeshare. But if you keep it independent, you can always have the freedom to not spend. They really push the initial fee and 1 year cost of VOA, but the number you should really look at is the lifetime cost. If they showed those numbers. No one would buy, because they are basically the same, or so insignificantly different, there’s no point to obligating yourself to it. If you are gonna do it- buy one for a 1$ that someone is selling. But that is a sign in itself. Would you buy a car for a 1$ ? No, it’s probably a money pit.
There is more to it than that. They try to upsell you with every vacation. So when you are in your 30's and your wits are about you, you are probably less likely to give in to a 3 hour badgering session. But you will not always be young, so as you get up into your 70's, 80's and 90's sometimes people just buy into the bigger packages because they are tired and want it to end. That is what happened to my parents. The company upsold them more than once, with the carrot that they could, inherit it to their children. No way do we children want this anchor strapped around our necks.
LOL. Can't agree more! Guess you had a negative experience. My recommendation is to give a crazy condition that they can not fulfill. Example- IHG : They offered me a 3 night stay (which turned out to be at a NOT big name Hotel in Vegas), IHG points and cash. They wanted to give me Platinum status for life which I can get with my IHG card. I said that I will buy something if they give me "Royal Ambassador" status at the Intercontinental Hotel for life as long as I pay my maintenance dues. They said no and escorted me to the door so that I can get my gifts. Still a rather negative experience, but if they can't give me what I want, too bad.
Just experienced a presentation and purchased one, but upon returning to my hotel, I did a lot of research and cancelled with the cancellation period. Your point is dead on, why should I pay such a gigantic initiation fee and then have a forever maintenance fee. If I do one, I would search for a re-sale with a lower annual fee at least.
They're scams. Period. When someone is so desperate to sign you up, and if he's trying to shower 🚿 you with gifts, then you know it's trash. Remember, folks: Nothing's free.
Using your phone/carrier analogy, I was an AT&T customer, paying $65 a month for just the service (I already owned the phone). In a way, it was a $780 annual maintenance fee (almost as much as a timeshare). I decided it would be cheaper to buy a brand new iPhone SE for $430 ($399 plus tax and shipping), then switch to Mint Mobile's 3GB $15/month plan for $180 for a year (T-Mobile provides the coverage; so basically T-Mobile). Those two together were still cheaper than AT&T. Further, come next year, this option will be even less expensive without the iPhone expense (just $180). Similarly, a better option for people looking for vacation properties would be Airbnb. The best part is that someone can likely find a property in an area that won't have timeshare-like black-out dates and no annual maintenance fees. 🙂 Also, my parents sold their timeshare a long time ago. They said they didn't want to include it in the inheritance myself and my siblings would receive. They felt it was unfair to shackle us with that debt.
Just got back from Vegas a week ago and those time share sales-vultures were all over the place (both inside hotels and on the strip). But mainly they seemed to rent space from the lower tiered casinos and harass everyone that walked by (including my gf and I). Luckily in the 2 hotels we actually stayed in overnight, we didn't see any.
Good video. We are in Florida and just survived a presentation. They were pulling out all the tricks. Thankfully we stuck to our guns and kept our wallets closed. It just doesn’t make any sense.
I know this is an old video but one thing to remember is the recession period. You can go in, sign, pay a down payment and get a 100% refund as long as you follow the recession steps outlined in the contract. Different States have different time frames so read the contract carefully as soon as you get back to your hotel room.
There are 2 types of people who have timeshares. Those that got conned and pressured in to signing up to them, and want out. Then there is the other kind. These are the ones who got conned and pressured in to buying them, but their pride will not let them admit this, so they will tell you it is a great thing and they are happy they did it. Honestly, which is the bigger fool?? We were approached our first time in Bali a number of years ago. We had no idea what it was all about and were fed an incredible amount of lies to get us to the table to listen to the full con spiel. They tried everything and we refused to budge. my wife was upset, but I was really angry. Then, when they realised we weren't going to do it, they called the big guns in and he tried to offer incentives and lower the price. but the biggest thing was him losing his temper because they gave us free gifts and everything (crap gifts), one of which was a "free" voucher to stay at some big resort for 7 nights for free and all we had to do was book a year in advance and pay $50 US. Their last chance of getting money from us. As if??? It just went in the bin. This was an absolute nightmare for our first day in Bali. Fortunately, every day after that has been a blessing and made us much more wary of this sort of thing.
Darren F the bigger one is the one who won’t admit it to themselves that it was a terrible idea. Usually everyone else knows they made a mistake but they continue to try to convince everyone and themselves that they did not get screwed
I love the way you analyzed this! We went to the sales presentation yesterday and I basically had the same analysis but they really do a good job of selling. We did enjoy 3 nights at a great resort for the cost of our time so, feels like we got a good deal. If we had not been strong those 3 nights could have cost us upwards of $40k at 16% financing and $2000+ a year in fees “in perpetuity” to get some points every year that we hopefully could use somewhere., I just prefer to pay as I go?! That just makes more sense to me
So true we went to the presentation in Lake Tahoe, its honestly a joke. We posted a video of the actual "resort" and our experience. It is nice but Don't buy a timeshare PERIOD. You can still vacation anywhere without a timeshare.
When someone won’t let me work the numbers that’s a red flag like someone trying to push too many drinks. Sleazy. If I can’t take the paperwork to my lawyer, I’m not doing it.
Went to a Vistana presentation (SPG) in Maui and declined the timeshare but purchased a $3000 package for another full week stay in Kauai Westin ocean villas plus 50k starpoints by just doing the presentation again and no purchase necessary. Full week stay at this category 6 hotel is usually 400-600/night so I basically got 50k SPG points as a bonus.
The only reason I went to a timeshare presentation in Orlando was for the perks at Disney World. 90 min and I got a $50 gift card and 3 additional fastpasses. I thought it was a fair trade.
Just did a time share talk. IT WAS AWESOME!! Here's how it went down. Called up a HH rep to merge multiple accounts. Got transferred afterwards. Offered me to stay in Vegas for 199+Tax for 3 nights. Was planning on going to Vegas with my GF anyways. Having tons of points from CC and my GF's work. I was planning on spending as little as I can on Hotel. So I asked the telemarketer if I can think about it. He said no, then offered to refund the 199 after the sales pitch. AND a 200 dollar voucher for the hotel brand! Hotel was nice and clean. Did the sales pitch. Told the salesperson how little I spent on hotel for the 10 night trip. He realized he's not getting a sale, and basically said just listen to the pitch and let him and the team do their job. Was the first person out of there! I mean, they're just trying to make a living, and they are offering a product. Might be a lousy product but I have the control over what I buy. Honestly if the is still a thing by the time I retire. It's probable a good but when I run out of points and still wants to travel loads. Just like any product, DO YOUR RESEARCH. Took me 15 min to find out what timeshares are and immediately came to the conclusion of not currently needing it. Ohh.... the total for 10 night trip hotels? 650! Only because there were no redemption at Grand Canyon and decided to use up the 200 Dollar voucher and paid for one extra night. Total amount of free hotels? 2000+ (Camelback in Phoenix alone would have cost 1000+ for two nights, used 80k for the stay)
I agree they are pretty sleazy. They will then bring the manager out to drop the price completely. The prices are over rated and I let them know it’s a huge investment that that’s something to think 🤔 about. The rep didn’t like that. I then told her it’s ok if the price changes and I still have to think about it. And the rep try befriend me as to let hang out for wine, smh. There are complete turn offs with violins . In the end I got my $100 in cash and a voucher for around 100 IHG points. I’m not in any market for time share as I told them. But IHG told it just to go and listen. I got 5 free nights and paid $27 in room tax at the resort. Great deal for me!! 😊👍🏽 I don’t shop by feelings as I told them. All I had to do was pay for my cheap plane ticket and I came out with worth a few thousands of dollars with the trip back to me. Mission complete 😂🤷🏽♀️🤷🏽♀️👌🏽🎁 and. Great vacation in Arizona!
I have had mine for over 5 years. I love mi e. But I use mine every year. I go to Vegas every year for a certain event and it comes in handy. I get my points plus I also get 4 bonus weeks which is basically a 7 night stay for like 250.00 in any resort. I sell those to my friends which pay my yearly dues plus I make a little cash for me. But I agree it is not for everyone.
@Visalia City Billiards would love to chat and discuss some similarities and differences. I'm looking to buy into a different one with some different options. Not sure how we can communicate on here as I usually just come on here to watch videos and usually don't look at the comments
I own Marriott Vacation Club, one of the better and more expensive timeshare companies. I would agree with you, 99% of the time and 99% of the people out there should NOT buy a timeshare, especially from the company. The resale market is a much better idea and cheaper in the long term. HOWEVER, if you are young, plan to own a home and have kids (settle down) and MOST IMPORTANTLY, are willing to fully educate and learn the system, then it is worth it. We have been to Hawaii many times in the past decade for much cheaper rates in the long term, and recouped my initial buy in costs had we simply paid the cheapest market rate. Keep in mind, I am very educated in the systems of Marriott and Interval International, we stayed in full 2 bedroom apartments, not hotel rooms, so the stay with kids and parents have been much more enjoyable than staying in a hotel room and having to pay for restaurants. Again, if I used the timeshare at the base level benefits, it would not have been worth it, but with exchanging, staying in the lower seasons, and getting bonus stays, it's been worth it for us. The main reason I told my wife we had to buy (on our honeymoon) was to force us to take a true vacation every year, meaning not going to see our families during every vacation time (sometimes they come stay with us). Again, you're right, for some people it's worth it, but for most, probably not a wise investment!
Interesting. We prefer cruising for travel ourselves, but if you are coming out ahead (and more importantly encouraged to travel/vacation), it sounds like a net benefit. Does your Marriott Hotel status cross over?
thejokerspeaks - it depends on where we stay. The benefits do play into it when we use our Marriott CC to pay the room charges (at a MVC property). 10 pts/$, not including the Gold status bonus!
We just did a timeshare talk one on one with a broker and the reason I was really temped was the "Getaway Trips." Have you seen these with yours? It seems pretty legit in that you can go most places for around 30-40 a night where it't normally 100-200 a night... you pay a $169.00 yearly fee to get access to them and can take as many as you want. (Our talk was in Breckenridge, Colorado.) Thanks! ( i know I just saw your comment 2 years later but hopefully you see this. I am really considering it as we travel a lot...
@@LivinginDurangoColorado Again, if you travel a lot and have timeshares WHERE you travel, it makes sense. Even if you do not, I assume you're referring to the Interval International getaways, then yes, they are a good way to go all over the world for REALLY cheap. Depending on the brand you buy (Marriott Vacation Club), you get annual bonus certs included. We never get to take advantage of the "getaways" or bonus certs now with kids, BUT the 2 bedroom full blown luxury apartments we get to use are what make it worth it for us! I want to reiterate, as some people tease us for being suckers and buying, if you are only 2-3 people, it's NOT worth it.
Got a hardcore timeshare pitch on our Honeymoon on Kauai. We didn’t break & got about $200 in free money for excursions, but the time (about 2 hrs) & pain of listening to that guy go on & on…He didn’t take No for an answer.
I did consider doing it. Never got invited to any of their presentations because I look like a student. My friend used to be a sales person. She said it won’t work for me. I did look up a bit and decided not to because of options they got. what I would like is an annual loyalty card that gives points and elite status and be able to cancel it after a year if I want it. Some airlines have that kinda program, usually with credit cards but some others just need to pay. I have Tap Portugal annual club where they give points, and (status which I don’t use) but it’s perfect. I was considering and searching for hotels but probably not with this current system.
I appreciate this. I see it mentioned alot, but I understand why it's unappealing...I mean, not even a mortgage is a lifetime commitment (even if it feels like it).
Timeshare made sense when I brought it 20 years ago. It no longer makes sense today with the outrageous yearly maintenance fees and the new point systems. I brought a timeshare for $7,000, was $28,000 for a studio, I kept saying no until they finally said final offer at $7,000. Then they tried to get me to finance it for 18% lol. I end up charging it on my CC and paid it all off. It was worth it, I brought a studio and deposited with Interval international and always got a 3 bedroom 3 bathroom place at no extra cost. Everyone put their timeshare in a pool and you get whatever is deposited. I went to Hawaii and Florida every year and stayed at very nice timeshare resort, much bigger and better than any hotels. All this for $295 maintenance fee and $50/year Interval membership. Then my timeshare sold to another company that does points and my studio points is worth nothing. My maintenance fee went up and up. Interval charges for upgrade fees, I had a studio so upgrading to a 3 bd is expensive. I finally got rid of it. With airbnb, redweek, chase portal for hotels, timeshare no longer make sense.
As a Hilton and Wyndham owner, I can tell it’s well worth it if you are smart when it comes to how you buy. I bought my deeds resale and paid close to nothing for them. Between my 2 accounts I get 4 weeks at a 1 bedroom unit. Comes out to about $85/night. Hotels are great until you have kids and then 3-4 people in a small hotel room just doesn’t work. Being able to book 2-3 bedroom units is great! We have taken some vacations that we could have never been able to afford if we had to pay full retail price. Again, timeshares are not for everyone and what people need to understand is that they’re not a financial investment. You’re basically pre paying your vacations. We still use credit cards for hotel stays where there’s not a timeshare available but we do prefer to stay a timeshares over hotels any day.
Eric Li sorry why? Lol my Hilton is a platinum week. Very good resale value and Wyndham will take deeds back for free. I would have never bought if I didn’t have an exit plan. Again, like I said, you gotta be smart about what you get.
As you say, "you're basically pre paying your vacations." If you see it that way, then you must also take into account all the money you are NOT getting that you could have received by investing that pre-payment in something else.
@@JPKnapp-ro6xm Dude, what are you talking about? What money am I not getting? My travel budget is completely separate from my investments. You must be new to investing lol Anyways, quick math, I spent Christmas in Cancun with my family 4. 4 flights bought on points, $1,000 for my stay (lodging) in a 1 bedroom at the Westin Lagunamar. The same room would cost you $3,000 for the week booking on Marriott. So I can either pay $1,000 for lodging or pay $3,000. I don’t think the math is too difficult… Sure I could use hotel points and free night certificates and Keep that cost down but I hate jumping from hotel to hotel every other night. Very inconvenient and besides we like taking long vacations. 5-7 days minimum. It would be too difficult booking 4-5 vacations per year on all points. Airbnb is not reliable and hotel rooms are tiny and I like my space. Nothing beats having a 1-2 bedroom in a prime location for 1/3 of the price. Obviously it’s about priorities. I could have easily booked a budget hotel or a cheap Airbnb but I rather not do that to my family. Or like you said, I could invest all my money and never go on vacations but then what’s the point of having all this $ for?
So, now if you can make a video on how to get rid of a timeshare if you've already been hoodwinked. Preferably without having to pay some "attorney" thousands of dollars to do it for you. Also...Timeshares "might" be worthwhile for retired people...definitely not young, working families. I have one :(
Thank you Sebby. This is literally the first time I see one of your videos and loved it! It's getting me mentally ready for when I attend the meeting in May. I just started learning about timeshares and I'm glad I found your video.
Do you still owe money on it? My understanding is that Hilton properties are still worth money, but of course you could be up-side-down if it was recently purchased.
thejokerspeaks it is almost paid for. From what I found there is no value in them what so ever. I was able to find some where people would pay you to take them.
I hope you will see an attorney & get it resolved ASAP.....there ARE attorneys who can resolve it for you. Being stuck in a timeshare should never be an option.
What do you call when they charge huge sums while the contracts are almost zero on eBay, do not tell you about all the fees, and annual maintenance ever incrasing fees, and crazy interest rates if you borrow money from them?????
Before a timeshare presentation, I always give the rep a disclosure: we signed up for a 2-hour presentation, so we will give you 2 hours to present what you have. We do not want to share any personal information with you, and we are not interested in your life stories. Please only provide useful information about the actual product, don't go off topic. If you have a problem with that, we can speak to your manager directly. Every time, we got away earlier than others.
It all depends on the timeshare. I have one for 15 years and the maintenance fee is 280 per year - have points to use for on week per year in the resort in Caribbean plus I have a young child so it's OK for us. They gave me one full week for free in a resort in Jamaica as a sign up bonus. I don't like the meeting formats usually it's a waste of time if you're not buying you will end up with losing a day of your vacation unless it's outside of your vacation setting and they offer something really good. I wasted a day in Vegas like that before because they kept coming with more offers for the entire day and I didn't even have money to buy it anyway.
Do you get to stay at nice places? If your maintenance fee is that low I would guess probably not. We had a cheap timeshare and the maintenance fee was about $ 750 a year. All of our choices of places to stay were dumps!
All those timeshares for $1 say all that needs to be said. They are impossible to get out of! You're stuck with the maintenance fees forever, and they can keep raising them, and the poor suckers are stuck with having to pay them - forever. Anyway, who wants to go to the same place every year? Sure, I guess you can put your week in a "bank" and swap it for someplace else, but it's royal pain. I like to travel to France - I go like once a year - but I don't go to the same hotel in the same city every time. That one you showed was $1,109 per year just for maintenance! No, thanks!
Only time I ever sat through one of these things I let them know up front that I'd do it for the tickets, but had no interest in purchasing anything. They had probably heard that before, so didn't have a problem with it. And wow are you right...the presentation was only an hour but it was high-pressure through the entire process. The folks running the show were a little salty when I made good on my "no" at the end (and yes, I kept every response to that one word), but they delivered on the tickets. Would have probably needed a little more incentive to sit though something longer though. That was a long hour.
My parents tried Thousand Trails several decades ago. I don’t know how they cancelled it but they were able to. The camper was nice but I think there was an issue of never being able to get a date scheduled. I’d rather by the product than deal with that again.
The initial fee is their cover for the free stuff they give you. You are encouraged to finance it too, they might be running the loan themselves too, specially those overseas. And then there is the life time maintenance fee for few days in a year, that you pay every year for very long time if not for life. Mine had 50 years expiration. If you want to unlock the upgrade option you have to make $100 additional fee every year for life , to get the actual upgrade at a year you have to add $200 on that year. There is also update orientations they bug you with ever time you are reserving a time. If you decline they take away some subtle goodies, like getting you beach front properties or changing you dates a bit here and their or refuse to give you included stuff they promised.
I would recommend to examine the presentation as opportunity cost problem. How much is your time worth and compare that to the hours being used to hear the pitch and the financial benefit for going. For me in a lot of cases it is not worth going my time is worth too much especially if I am on vacation. The value of my time triples in Hawaii. Listen to them or lay at the beach... I choose beach. lol
I am doing a "presentstion" with Holiday vacation club. But I am just going because they are actually giving me a $100 dollar holiday inn certificate that I can use in U.S. or Canada. Going to the smokey mountains resort seems like there is a lot of activities to do there.
Not really something I've ever been interested, but felt the need to comment that Target will price match Amazon! So if you're already in the store and don't want to wait for shipping, it can make sense to buy it there
Shebby my worst experience with these criminals will be good for your CZcams channel. My husband was scammed over $100,000 with credits the criminals applied for him. Just recently this year 2021
Nice video, although like many other commenters, I think your downplaying the unethical behavior of these firms. I understand your desire not to sound sensational or biased, but in this case the actions of many of these companies merit a pretty damning review. I've been tempted in the past to take up one of these timeshare offers for the discount and to experience the sales pitch, but from what I've heard from others who have participated the monetary discount might be eclipsed by the negative experience overall.
We were on the big island in Hawaii, and they were offering free tickets to the zip line if we attended a "no pressure" timeshare sales pitch. It's funny how their face changes when it's over and they ask you if you'd like to sign up and you say no. I wasn't going to budge; timeshares don't make sense for me. But, we have some family members that signed up for a timeshare that are hotels available in several countries. That sounds like it's different, but for me and my wife, it doesn't work for us.
Works till you get older and they upsell you into a package you can not afford promising you that your heirs are going to enjoy it forever. They don't tell you that when they attempt to get you hooked. They screw older people all the time.
Good points! Currently own a time share and vacation club and the value is incredible if you know what you want, know the amount you are willing to pay, and are a good at negotiating.
Hey Ask Sebby, I recently got my discover card (secured) to build my credit as I had no history. I've tried out the method of reaching near my spending limit ($500) and then pay it off so my utilization can be 1%. I've gone through only two billing cycles and Discover reported my FICO score of 748 but Credit Karma gives me a score of 684. Could I apply for the Chase freedom already? Or should I wait more time to build more history?
I sell timeshare. If you wanted 3 weeks every single year at something quality it's going to cost you about 32k-46k then about 1k in annual hoas and taxes. In my opinion it's only worth it of you are well off and want to travel in quality accommodation. Or have a ton of kids. The little amenities save you thousands of dollars when you travel. Like waterparks, mini golf, ziplines. All that little stuff is free for the owners. It really adds up f you have 2 or more kids.
have you looked at mvno's of tmobile? metro pcs? mint wireless? I am a big mobile fan but honestly, I can't tell the difference and they use the same tower and it is a lot cheaper...
It's probably something worth looking into, at least to test. I do a lot of video streaming when I'm on the go though (I also could probably just download the videos beforehand, since I'm already paying for CZcams Red haha).
I get like 15 mb down on mint sim. but since you stream you might be more into metro pcs's unlimited. basically, if you need under 5gb mint wireless $20 under 10gb mint wireless $25 unlimited Metro $50 I played the game of jumping between 12 different mvno's in 2 years (got a lot of good sign up stuff) I couldn't tell the difference between each respective backbone. Then I found what I pay for mint wireless vs all the free stuff I was getting... it was about equal. So if I find a switching promo after my credit is up with mint sim I might take it and swap right back. (you buy 3 months first then you buy a year at a time for best price, luckily it timed up well with the q1 freedom)
The difference is that actual TMobile customers get prioritized in busy areas. I have a friend with MetroPCS and while we were in a busy area, and with her phone having a full signal, her mobile data was useless. My TMobile mobile data worked perfectly, not even a noticeable slow down. Aside from that rate case, I doubt there is much of a difference.
If you truly want to buy a timeshare, my advice would be to tell them you want time to review the contract before ypu sign anything. If they dont want to give you time to do this, they dont truly want your business and are there to screw you. Im not talking about a few hours either. I mean they need to let you take it home so you can look at the contract you might be signing so ypu can decide if this is a contractual agreement you want to get into. I wouldnt stay a buyer of timeshare, but if i did, i would ask them to remove from the contract any waivers of ypur rights and abilities. This include a waiver of your ability to participate in a class action suit against them and a waiver of your ability to litigation or take them to court and having them be the sole provider of arbitration. I would also request that it is written in the contract that the seller cant change the amount of the maintenance fees as they please. The maintenance fees would have to stay fixed, or they would only change based on an official national inflation rate. I wpuld request they remove any clause that states the seller can change the dollar amount of the maintenance fees as it pleases, and remove any clause stating that the seller can afterwards include new fees not already mentioned in the contract. If they wont do this for me, i wouldnt sign with them and stay an "owner" of timeshare properties.
Love this comment. in essence...read the contract....if you are going to go into business with another party...read the contract...lol if they dont want you to give you the time to read the contract...well, surprise surprise that's probably not good company to be doing business with
I look at this a bit different. I just purchased a "Comeback" vacation from the rental car agency in Vegas. I will be at Caesar's for 3 days and 4 nights. I purchased the package for 150.00 and will be given the money back on a gift card if attend the timeshare presentation, however if i don't i still get the room I just lose the money. Caesar's is a 200 dollar a night hotel plus resort fees. If i have to sit for 2 or 3 hours, small price to pay. I think most of these stories are from people who were uninformed and just couldnt say no. It's no different when "credit one" sends those idiotic flyers in the mail.....SAY NO
My wife and I have owned a timeshare in the past. We bought on the secondary market, so we didn't get screwed, enjoyed the benefits for about 7 years, then sold it at a slight profit after our vacation habits changed. Timeshares are a good value if you regularly vacation at your PRIMARY property during peak season, i.e. Hawaii for Christmas, Las Vegas for New Years or Disney World in the summer. They're an OK value if you vacation at various places at other times. There are a couple of things to be aware of 1) Most timeshare salespeople are scumbags. Sebby is right about this. 2) Buy on the secondary market. NEVER buy at a timeshare presentation. If you like what you see at a presentation tell them you'll think about it and shop the secondary market. The Disney Club may be an exception to this. 3) Make sure that the primary property you buy is some thing there is a demand for even if you plan to vacation elsewhere. That means it should be a location where they can't do virtually unlimited building of new time shares. This would include Lake Tahoe, New York City, Hawaii , the Las Vegas strip north of Tropicana and south of the Stratosphere and Disney. It does not include Mexico, Orlando other than Disney or Las Vegas other than the strip. Buy in one of those places and you're going to get burned.
We just did a timeshare talk one on one with a broker and the reason I was really temped was the "Getaway Trips." Have you seen these in yours and used them? It seems pretty legit in that you can go most places for around 30-40 a night where i'ts normally 100-200 a night... you pay a $169.00 yearly fee to get access to them and can take as many as you want. (Our talk was in Breckenridge, Colorado. Thanks!
@@LivinginDurangoColorado Our timeshare was in Tahoe. Peak season there were the summer months and the ski season. We weren't into skiing so we would use the equivalent of getaway nights March through May, and then late September through November. it cost about $50 a night but this was back in the late 90's early 2000's.
Hell, I'm so gluten for punishment I was talked into two different time shares....."Yes, I own two", I've finally paid off one but my wife got suckered into upgrading the other a few years ago....now we own 20 more grand.... so over 7,000.00 a year in fees and we don't use them. We go on cruises instead...
The long term or mostly lifetime perpetual annual maintenance and club dues are scary. It’s something you can never get rid of - like herpes. If you’re lucky you can just give it back unlike herpes.
I think on these cards he is referring to, you get a free night certificate (most cap to a sordid category hotel, though) just for paying the annual fee. So, for my just planned 17 night stay next summer in two prime SoCal ocean view 2 bedroom condos/resorts (timeshares programs) , this guy will be checking in and checking out 17 times (that is IF he can find this many credit cards offering free annual night stays).
We just did a timeshare talk one on one with a broker and the reason I was really temped was the "Getaway Trips." Has anyone seen these or have one that has them? It seems pretty legit in that you can go most places for around 30-40 a night where i'ts normally 100-200 a night... you pay a $169.00 yearly fee to get access to them and can take as many as you want. (Our talk was in Breckenridge, Colorado. Thanks!
Went to a presentation today so i could get $150 back plus free water park tickets. I had in my mind regardless that i was gonna say no. They tried hard, but i feel they could have been much more impulsive. Overall not a bad experience
If you don’t want them to sell you anything. Go in dressed in crappy clothing and just lie. Tell them you’re making minimum wage, you have almost no cash on hand, and your credit score disqualifies you from any type of financing. They usually don’t try very hard afterwards.
The main risk is that the benefit that you signed up for is contingent on you qualifying. i.e., 3 nights in Vegas for $200. If you don't qualify, they "have the right" to charge you the market rate which they state is ~$700. I would still go and listen, I just would be firm with your opinion / decision.
Hey, Sebby, off topic question from this video. Couple weeks ago I got both Chase Freedom cards from Chase and have been using them. Started using both about mid/late April and on my online card statement for both say their payments aren’t due until June 15th. I was wondering should o wait that long to start making payments on the cards or start doing some payments now to be on the safe side??
All these people saying they went for the give aways and just said "no" for 3 hours.....REALLY? My time is worth a lot more than a free toaster for 3 hours of my time!
Yes the have monthly maintenance fees whether you're staying at the timeshare or not. Timeshares are just about selling points and collecting maintenance fees. Good luck trying to make a reservation.
Went to a timeshare presentation in Orlando for Wyndham. We were required to give them 2 hours. A minute or two after the 2 hour allotment I said time was up and I wasn't convinced. We had an hour before having to be at a Disney park so my young daughter could have lunch with the princesses. Twenty minutes later of their trying to convince us, I mention it was important for us to not be late to the lunch. The sales lady made the mistake and crossed the line by saying the timeshare was more important. Needless to say, yelling was involved, priorities were set, and the sales pitch was over. I guess they didn't want me to sour the other sales. Nobody tells me my daughter comes second!
Omg same thing happened to me at a Wyndham timeshare in Williamsburg
Wow. Just.... wow.
So you signed yourself up for a tour and then started yelling, causing a scene, and disrespecting the staff? All for trying to do their job? You could have just left. No scene. No drama. With respect and dignity. Unless ofcourse they had you handcuffed to the table or something. In that case I'm on your side.
If they say it was supposed to be two hours why shouldn't she make plans for 3 hours later?
After two hours, all you had to do was shut your mouth and use your feet.
Timeshares are SCAMS and I really question the intelligence of the people who buy them..
I 100% agree with that. Most hotel chains have loyalty programs where members can apply their points to free hotel stays and then, they can go on about their lives without having to worry about paying ridiculous time share maintenance fees. Plus, many credit cards give out travel points that can be applied to free hotel stays. There is also usually an option to get a larger hotel suite for people who need lots of space. Time shares are a poor investment.
If someone is trying to use their dead mom to sell you a timeshare, they probably killed their own mom.
whenever you hear the word "free", run like hell!
I remember when I was very young me and my parents when to a time share meeting in Tyler, Tx. I remember the salesman asked me to ask my dad to buy the timeshare. Now I think about that I am greatful my dad didn't take the bait and how stupid I was. That was very dirty sales tactic to use a kid like that.
A timeshare in Tyler, TX is an oxymoron.!
Whenever I hear about "FREE OFFER", I run away. Life taught me no one give you anything for free.
Right. No one does.
Verizon and att give you free iPhone 13s $1,000 off no contract just 1000$ split up in 24 months, so you never make a single payment of the phone
There is tons of things for free with detail
You’re a clown
@@valuecalc stfy
@@johnringolll4517, what?
Years ago some friends of mine went to a Catalonia resort talk and bought into one of these deals and now if I go with them those are the only resorts we go to. To top it off they will only go to two of the resorts from the company. It's such a drag and they have years left on it.
Thanks Sebby!!! I would never sign up for a timeshare, but I did sit through one of the "meetings" for discounted Disney tickets in Orlando. Almost 4 hours later I got the tickets, $350 discount. For me it was easy saying no, I am a numbers driven person almost never have impulse purchases.
Yup
i simply dont understand how timeshares and the sales tactics to trick you into it are not illegal
i went in one and they threw everything but the kitchen sink at me to try to get me to sign up....they even tried the wait me out to stop me from getting my promised gifts.....this was one of the few times i was thankfull im an emotionless person....i got my 200 promised in cash and a free breakfast and they got nothing from me
I got 2 free shows in Las Vegas and a free meal and all I did was saying "Nahhhhh" every single time.
I agree, I could never understand Timeshares - you are locked into a lifetime commitment and the fees are outrageous. You are better off signing up for the hotel benefits, etc
Credit card points for the win. Having the freedom to go where you want and when you want is priceless. You also are not tied to anything with a contract or fooling yourself thinking you "own" property. Work on consistently getting status on a hotel program to reach top lifetime status. That's more worth it.
Credit cards are a scam too.
@@chadjohnson5971 Yes they are. But if you are disciplined enough to pay the bill on time, their reward system is great. Then they pay you instead.
@@chadjohnson5971credit cards are not a scam. It’s not a lifelong contract.
I attended a Hyatt presentation. I decided it wasn’t for me.
They started at 15k and came down to 10k and the VOA was 1200 annually.
It sounds great at first. They really push the initial fee is only 10k !!! Wow sounds great, all the vacations you can take for the next 50 years (I’m 33 assuming I live to 83).
What they don’t talk about much at all is the VOA. 1200$ a year, over 50 years is 60,000. So that takes what was 10 grand and turns it into 70,000; to top that, you basically have no control over VOA dues and that they are subject to increase, they also don’t cover the fine print of “special assessments” where they basically can just hit you with a major increase for “remodeling” etc… the last thing is, inflation is also a factor… so when you factor all that in, 70,000 can easily be 100,000 over the 50 year term and then you die and basically leave that commitment to your kids.
Sorry but that is just not a good deal in my opinion.
I’d rather have the freedom to not spend, and when I want to travel book what I want or look for a deal, but I’d always have the option of not spending.
Basically your gonna spend either way, if you travel independently spending or if you have a timeshare.
But if you keep it independent, you can always have the freedom to not spend.
They really push the initial fee and 1 year cost of VOA, but the number you should really look at is the lifetime cost.
If they showed those numbers. No one would buy, because they are basically the same, or so insignificantly different, there’s no point to obligating yourself to it.
If you are gonna do it- buy one for a 1$ that someone is selling. But that is a sign in itself.
Would you buy a car for a 1$ ? No, it’s probably a money pit.
There is more to it than that. They try to upsell you with every vacation. So when you are in your 30's and your wits are about you, you are probably less likely to give in to a 3 hour badgering session. But you will not always be young, so as you get up into your 70's, 80's and 90's sometimes people just buy into the bigger packages because they are tired and want it to end. That is what happened to my parents. The company upsold them more than once, with the carrot that they could, inherit it to their children.
No way do we children want this anchor strapped around our necks.
LOL. Can't agree more! Guess you had a negative experience. My recommendation is to give a crazy condition that they can not fulfill. Example- IHG : They offered me a 3 night stay (which turned out to be at a NOT big name Hotel in Vegas), IHG points and cash. They wanted to give me Platinum status for life which I can get with my IHG card.
I said that I will buy something if they give me "Royal Ambassador" status at the Intercontinental Hotel for life as long as I pay my maintenance dues. They said no and escorted me to the door so that I can get my gifts. Still a rather negative experience, but if they can't give me what I want, too bad.
Bro... Hilton Villas just send me some information about their timeshares. Wow... man this vid came in just in time... thanks for having our backs.👊
Just experienced a presentation and purchased one, but upon returning to my hotel, I did a lot of research and cancelled with the cancellation period. Your point is dead on, why should I pay such a gigantic initiation fee and then have a forever maintenance fee. If I do one, I would search for a re-sale with a lower annual fee at least.
Do none.
They're scams. Period. When someone is so desperate to sign you up, and if he's trying to shower 🚿 you with gifts, then you know it's trash. Remember, folks: Nothing's free.
Using your phone/carrier analogy, I was an AT&T customer, paying $65 a month for just the service (I already owned the phone). In a way, it was a $780 annual maintenance fee (almost as much as a timeshare). I decided it would be cheaper to buy a brand new iPhone SE for $430 ($399 plus tax and shipping), then switch to Mint Mobile's 3GB $15/month plan for $180 for a year (T-Mobile provides the coverage; so basically T-Mobile). Those two together were still cheaper than AT&T. Further, come next year, this option will be even less expensive without the iPhone expense (just $180). Similarly, a better option for people looking for vacation properties would be Airbnb. The best part is that someone can likely find a property in an area that won't have timeshare-like black-out dates and no annual maintenance fees. 🙂
Also, my parents sold their timeshare a long time ago. They said they didn't want to include it in the inheritance myself and my siblings would receive. They felt it was unfair to shackle us with that debt.
Just got back from Vegas a week ago and those time share sales-vultures were all over the place (both inside hotels and on the strip). But mainly they seemed to rent space from the lower tiered casinos and harass everyone that walked by (including my gf and I). Luckily in the 2 hotels we actually stayed in overnight, we didn't see any.
Two hours while I’m on vacation is NOT FREE. They’re robbing me of my vacation time. For me that’s priceless.They can keep their cheesey free gift.
Good video. We are in Florida and just survived a presentation. They were pulling out all the tricks. Thankfully we stuck to our guns and kept our wallets closed. It just doesn’t make any sense.
I know this is an old video but one thing to remember is the recession period. You can go in, sign, pay a down payment and get a 100% refund as long as you follow the recession steps outlined in the contract.
Different States have different time frames so read the contract carefully as soon as you get back to your hotel room.
They make no sense, plain and simple!!!!!!! Don't be played like a fool with timeshares. People who have 'em want out of 'em!!!!!!
There are 2 types of people who have timeshares. Those that got conned and pressured in to signing up to them, and want out. Then there is the other kind. These are the ones who got conned and pressured in to buying them, but their pride will not let them admit this, so they will tell you it is a great thing and they are happy they did it. Honestly, which is the bigger fool??
We were approached our first time in Bali a number of years ago. We had no idea what it was all about and were fed an incredible amount of lies to get us to the table to listen to the full con spiel.
They tried everything and we refused to budge. my wife was upset, but I was really angry.
Then, when they realised we weren't going to do it, they called the big guns in and he tried to offer incentives and lower the price. but the biggest thing was him losing his temper because they gave us free gifts and everything (crap gifts), one of which was a "free" voucher to stay at some big resort for 7 nights for free and all we had to do was book a year in advance and pay $50 US. Their last chance of getting money from us. As if??? It just went in the bin.
This was an absolute nightmare for our first day in Bali. Fortunately, every day after that has been a blessing and made us much more wary of this sort of thing.
Darren F the bigger one is the one who won’t admit it to themselves that it was a terrible idea. Usually everyone else knows they made a mistake but they continue to try to convince everyone and themselves that they did not get screwed
Thank you for doing my requested video ....as always A++++++ information.Thank you . :)
I love the way you analyzed this! We went to the sales presentation yesterday and I basically had the same analysis but they really do a good job of selling. We did enjoy 3 nights at a great resort for the cost of our time so, feels like we got a good deal. If we had not been strong those 3 nights could have cost us upwards of $40k at 16% financing and $2000+ a year in fees “in perpetuity” to get some points every year that we hopefully could use somewhere., I just prefer to pay as I go?! That just makes more sense to me
ultimate power move, when they try to force a document for you to sign, just rip it in half
So true we went to the presentation in Lake Tahoe, its honestly a joke. We posted a video of the actual "resort" and our experience. It is nice but Don't buy a timeshare PERIOD. You can still vacation anywhere without a timeshare.
When someone won’t let me work the numbers that’s a red flag like someone trying to push too many drinks. Sleazy. If I can’t take the paperwork to my lawyer, I’m not doing it.
Went to a Vistana presentation (SPG) in Maui and declined the timeshare but purchased a $3000 package for another full week stay in Kauai Westin ocean villas plus 50k starpoints by just doing the presentation again and no purchase necessary. Full week stay at this category 6 hotel is usually 400-600/night so I basically got 50k SPG points as a bonus.
Martin, then, this is a good deal. You can resell the stay for 2.5K and you will pocket nearly 2K (including resell points) on this..
The only reason I went to a timeshare presentation in Orlando was for the perks at Disney World. 90 min and I got a $50 gift card and 3 additional fastpasses. I thought it was a fair trade.
Just did a time share talk. IT WAS AWESOME!! Here's how it went down. Called up a HH rep to merge multiple accounts. Got transferred afterwards. Offered me to stay in Vegas for 199+Tax for 3 nights. Was planning on going to Vegas with my GF anyways. Having tons of points from CC and my GF's work. I was planning on spending as little as I can on Hotel. So I asked the telemarketer if I can think about it. He said no, then offered to refund the 199 after the sales pitch. AND a 200 dollar voucher for the hotel brand! Hotel was nice and clean. Did the sales pitch. Told the salesperson how little I spent on hotel for the 10 night trip. He realized he's not getting a sale, and basically said just listen to the pitch and let him and the team do their job. Was the first person out of there! I mean, they're just trying to make a living, and they are offering a product. Might be a lousy product but I have the control over what I buy. Honestly if the is still a thing by the time I retire. It's probable a good but when I run out of points and still wants to travel loads. Just like any product, DO YOUR RESEARCH. Took me 15 min to find out what timeshares are and immediately came to the conclusion of not currently needing it. Ohh.... the total for 10 night trip hotels? 650! Only because there were no redemption at Grand Canyon and decided to use up the 200 Dollar voucher and paid for one extra night. Total amount of free hotels? 2000+ (Camelback in Phoenix alone would have cost 1000+ for two nights, used 80k for the stay)
Sounds like a win. I heard of the $199 offer w/ voucher but first time hearing about the $199 refund.
I agree they are pretty sleazy. They will then bring the manager out to drop the price completely. The prices are over rated and I let them know it’s a huge investment that that’s something to think 🤔 about. The rep didn’t like that. I then told her it’s ok if the price changes and I still have to think about it. And the rep try befriend me as to let hang out for wine, smh. There are complete turn offs with violins . In the end I got my $100 in cash and a voucher for around 100 IHG points. I’m not in any market for time share as I told them. But IHG told it just to go and listen. I got 5 free nights and paid $27 in room tax at the resort. Great deal for me!! 😊👍🏽 I don’t shop by feelings as I told them. All I had to do was pay for my cheap plane ticket and I came out with worth a few thousands of dollars with the trip back to me. Mission complete 😂🤷🏽♀️🤷🏽♀️👌🏽🎁 and. Great vacation in Arizona!
I have had mine for over 5 years. I love mi e. But I use mine every year. I go to Vegas every year for a certain event and it comes in handy. I get my points plus I also get 4 bonus weeks which is basically a 7 night stay for like 250.00 in any resort. I sell those to my friends which pay my yearly dues plus I make a little cash for me. But I agree it is not for everyone.
@Visalia City Billiards would love to chat and discuss some similarities and differences. I'm looking to buy into a different one with some different options. Not sure how we can communicate on here as I usually just come on here to watch videos and usually don't look at the comments
I own Marriott Vacation Club, one of the better and more expensive timeshare companies. I would agree with you, 99% of the time and 99% of the people out there should NOT buy a timeshare, especially from the company. The resale market is a much better idea and cheaper in the long term. HOWEVER, if you are young, plan to own a home and have kids (settle down) and MOST IMPORTANTLY, are willing to fully educate and learn the system, then it is worth it. We have been to Hawaii many times in the past decade for much cheaper rates in the long term, and recouped my initial buy in costs had we simply paid the cheapest market rate. Keep in mind, I am very educated in the systems of Marriott and Interval International, we stayed in full 2 bedroom apartments, not hotel rooms, so the stay with kids and parents have been much more enjoyable than staying in a hotel room and having to pay for restaurants. Again, if I used the timeshare at the base level benefits, it would not have been worth it, but with exchanging, staying in the lower seasons, and getting bonus stays, it's been worth it for us. The main reason I told my wife we had to buy (on our honeymoon) was to force us to take a true vacation every year, meaning not going to see our families during every vacation time (sometimes they come stay with us). Again, you're right, for some people it's worth it, but for most, probably not a wise investment!
Interesting. We prefer cruising for travel ourselves, but if you are coming out ahead (and more importantly encouraged to travel/vacation), it sounds like a net benefit. Does your Marriott Hotel status cross over?
thejokerspeaks - it depends on where we stay. The benefits do play into it when we use our Marriott CC to pay the room charges (at a MVC property). 10 pts/$, not including the Gold status bonus!
Ha, ha... Said the timeshare sales person.
We just did a timeshare talk one on one with a broker and the reason I was really temped was the "Getaway Trips." Have you seen these with yours? It seems pretty legit in that you can go most places for around 30-40 a night where it't normally 100-200 a night... you pay a $169.00 yearly fee to get access to them and can take as many as you want. (Our talk was in Breckenridge, Colorado.) Thanks! ( i know I just saw your comment 2 years later but hopefully you see this. I am really considering it as we travel a lot...
@@LivinginDurangoColorado Again, if you travel a lot and have timeshares WHERE you travel, it makes sense. Even if you do not, I assume you're referring to the Interval International getaways, then yes, they are a good way to go all over the world for REALLY cheap. Depending on the brand you buy (Marriott Vacation Club), you get annual bonus certs included. We never get to take advantage of the "getaways" or bonus certs now with kids, BUT the 2 bedroom full blown luxury apartments we get to use are what make it worth it for us! I want to reiterate, as some people tease us for being suckers and buying, if you are only 2-3 people, it's NOT worth it.
Anyone else get a timeshare ad? Lol
lol
I got 2 timeshare relief ads lmao
I've been getting calls for Timeshares since 1987 & it won't stop.
"Wakanda Forever" - thumbnail
Cyril Ogude ...or Ultraman
Timeshares rhymes with Bitconnect
Got a hardcore timeshare pitch on our Honeymoon on Kauai. We didn’t break & got about $200 in free money for excursions, but the time (about 2 hrs) & pain of listening to that guy go on & on…He didn’t take No for an answer.
I did consider doing it. Never got invited to any of their presentations because I look like a student. My friend used to be a sales person. She said it won’t work for me. I did look up a bit and decided not to because of options they got. what I would like is an annual loyalty card that gives points and elite status and be able to cancel it after a year if I want it.
Some airlines have that kinda program, usually with credit cards but some others just need to pay. I have Tap Portugal annual club where they give points, and (status which I don’t use) but it’s perfect. I was considering and searching for hotels but probably not with this current system.
I appreciate this. I see it mentioned alot, but I understand why it's unappealing...I mean, not even a mortgage is a lifetime commitment (even if it feels like it).
Fr! A lifetime commitment just to go on a couple trips out of your lifetime? I think not.
Timeshare made sense when I brought it 20 years ago. It no longer makes sense today with the outrageous yearly maintenance fees and the new point systems. I brought a timeshare for $7,000, was $28,000 for a studio, I kept saying no until they finally said final offer at $7,000. Then they tried to get me to finance it for 18% lol. I end up charging it on my CC and paid it all off. It was worth it, I brought a studio and deposited with Interval international and always got a 3 bedroom 3 bathroom place at no extra cost. Everyone put their timeshare in a pool and you get whatever is deposited. I went to Hawaii and Florida every year and stayed at very nice timeshare resort, much bigger and better than any hotels. All this for $295 maintenance fee and $50/year Interval membership. Then my timeshare sold to another company that does points and my studio points is worth nothing. My maintenance fee went up and up. Interval charges for upgrade fees, I had a studio so upgrading to a 3 bd is expensive. I finally got rid of it. With airbnb, redweek, chase portal for hotels, timeshare no longer make sense.
You didn't buy a studio, you bought points and monthly maintenance fees along with a yearly fee.
If you have to pay a maintenance fee every year (one that is more than likely to rise over time) what's the point of owning??
As a Hilton and Wyndham owner, I can tell it’s well worth it if you are smart when it comes to how you buy. I bought my deeds resale and paid close to nothing for them. Between my 2 accounts I get 4 weeks at a 1 bedroom unit. Comes out to about $85/night. Hotels are great until you have kids and then 3-4 people in a small hotel room just doesn’t work. Being able to book 2-3 bedroom units is great! We have taken some vacations that we could have never been able to afford if we had to pay full retail price. Again, timeshares are not for everyone and what people need to understand is that they’re not a financial investment. You’re basically pre paying your vacations. We still use credit cards for hotel stays where there’s not a timeshare available but we do prefer to stay a timeshares over hotels any day.
Sorry for your kids
Eric Li sorry why? Lol my Hilton is a platinum week. Very good resale value and Wyndham will take deeds back for free. I would have never bought if I didn’t have an exit plan. Again, like I said, you gotta be smart about what you get.
As you say, "you're basically pre paying your vacations." If you see it that way, then you must also take into account all the money you are NOT getting that you could have received by investing that pre-payment in something else.
@@JPKnapp-ro6xm Dude, what are you talking about? What money am I not getting? My travel budget is completely separate from my investments.
You must be new to investing lol
Anyways, quick math, I spent Christmas in Cancun with my family 4. 4 flights bought on points, $1,000 for my stay (lodging) in a 1 bedroom at the Westin Lagunamar. The same room would cost you $3,000 for the week booking on Marriott. So I can either pay $1,000 for lodging or pay $3,000. I don’t think the math is too difficult…
Sure I could use hotel points and free night certificates and Keep that cost down but I hate jumping from hotel to hotel every other night. Very inconvenient and besides we like taking long vacations. 5-7 days minimum. It would be too difficult booking 4-5 vacations per year on all points. Airbnb is not reliable and hotel rooms are tiny and I like my space. Nothing beats having a 1-2 bedroom in a prime location for 1/3 of the price. Obviously it’s about priorities. I could have easily booked a budget hotel or a cheap Airbnb but I rather not do that to my family. Or like you said, I could invest all my money and never go on vacations but then what’s the point of having all this $ for?
So, now if you can make a video on how to get rid of a timeshare if you've already been hoodwinked.
Preferably without having to pay some "attorney" thousands of dollars to do it for you.
Also...Timeshares "might" be worthwhile for retired people...definitely not young, working families. I have one :(
en.wikipedia.org/wiki/It_Follows
Micah Chaney I need help! I want to get out my timeshare
I use tradeblock
Thank you Sebby. This is literally the first time I see one of your videos and loved it! It's getting me mentally ready for when I attend the meeting in May. I just started learning about timeshares and I'm glad I found your video.
I'll happily take the "free" (I guess 1-3 hour seminar) vacation but yeah, wary of signing a $50k+ long-term debt 🙃
I wouldn't go to a timeshare presentation without a crucifix.
I wish I would have watched this video before I bought a timeshare. Now I am stuck.
How about a video about getting out the f a timeshare.
Kaliposwife thanks. I tried them but they could not do anything since the timeshare is a Hilton timeshare.
Do you still owe money on it? My understanding is that Hilton properties are still worth money, but of course you could be up-side-down if it was recently purchased.
thejokerspeaks it is almost paid for. From what I found there is no value in them what so ever. I was able to find some where people would pay you to take them.
I hope you will see an attorney & get it resolved ASAP.....there ARE attorneys who can resolve it for you.
Being stuck in a timeshare should never be an option.
L Gempet where I can get a attorney?
What do you call when they charge huge sums while the contracts are almost zero on eBay, do not tell you about all the fees, and annual maintenance ever incrasing fees, and crazy interest rates if you borrow money from them?????
Before a timeshare presentation, I always give the rep a disclosure: we signed up for a 2-hour presentation, so we will give you 2 hours to present what you have. We do not want to share any personal information with you, and we are not interested in your life stories. Please only provide useful information about the actual product, don't go off topic. If you have a problem with that, we can speak to your manager directly. Every time, we got away earlier than others.
It all depends on the timeshare. I have one for 15 years and the maintenance fee is 280 per year - have points to use for on week per year in the resort in Caribbean plus I have a young child so it's OK for us. They gave me one full week for free in a resort in Jamaica as a sign up bonus. I don't like the meeting formats usually it's a waste of time if you're not buying you will end up with losing a day of your vacation unless it's outside of your vacation setting and they offer something really good. I wasted a day in Vegas like that before because they kept coming with more offers for the entire day and I didn't even have money to buy it anyway.
Do you get to stay at nice places? If your maintenance fee is that low I would guess probably not. We had a cheap timeshare and the maintenance fee was about $ 750 a year. All of our choices of places to stay were dumps!
All those timeshares for $1 say all that needs to be said. They are impossible to get out of! You're stuck with the maintenance fees forever, and they can keep raising them, and the poor suckers are stuck with having to pay them - forever.
Anyway, who wants to go to the same place every year? Sure, I guess you can put your week in a "bank" and swap it for someplace else, but it's royal pain. I like to travel to France - I go like once a year - but I don't go to the same hotel in the same city every time.
That one you showed was $1,109 per year just for maintenance! No, thanks!
Glad to hear I'm not crazy. I love visiting Asia but I like mixing up cities/districts (and even hotels).
Great work! Thank you for this valuable information. I just subscribed to your channel
The points are not just to entice you but to also confuse you.
i work for hilton, and even i dont understand why anyone would get one
This guy would be really easy to sell at a presentation lol
Only time I ever sat through one of these things I let them know up front that I'd do it for the tickets, but had no interest in purchasing anything. They had probably heard that before, so didn't have a problem with it. And wow are you right...the presentation was only an hour but it was high-pressure through the entire process. The folks running the show were a little salty when I made good on my "no" at the end (and yes, I kept every response to that one word), but they delivered on the tickets. Would have probably needed a little more incentive to sit though something longer though. That was a long hour.
When I was young my mom bought a time share now that she is retiring she wants to leave it to me. I don't want it, but how do I get rid of it?
Wish you did an updated video on this subject , great topic !
My parents tried Thousand Trails several decades ago. I don’t know how they cancelled it but they were able to. The camper was nice but I think there was an issue of never being able to get a date scheduled. I’d rather by the product than deal with that again.
The initial fee is their cover for the free stuff they give you. You are encouraged to finance it too, they might be running the loan themselves too, specially those overseas. And then there is the life time maintenance fee for few days in a year, that you pay every year for very long time if not for life. Mine had 50 years expiration. If you want to unlock the upgrade option you have to make $100 additional fee every year for life , to get the actual upgrade at a year you have to add $200 on that year. There is also update orientations they bug you with ever time you are reserving a time. If you decline they take away some subtle goodies, like getting you beach front properties or changing you dates a bit here and their or refuse to give you included stuff they promised.
I would recommend to examine the presentation as opportunity cost problem. How much is your time worth and compare that to the hours being used to hear the pitch and the financial benefit for going. For me in a lot of cases it is not worth going my time is worth too much especially if I am on vacation. The value of my time triples in Hawaii. Listen to them or lay at the beach... I choose beach. lol
Very fair :)
I am doing a "presentstion" with Holiday vacation club. But I am just going because they are actually giving me a $100 dollar holiday inn certificate that I can use in U.S. or Canada. Going to the smokey mountains resort seems like there is a lot of activities to do there.
This is valuable information. Thanks for the heads up. Sales people can be very manipulative
Where do I find them? I want to go and not buy anything, and get free stuff
Not really something I've ever been interested, but felt the need to comment that Target will price match Amazon! So if you're already in the store and don't want to wait for shipping, it can make sense to buy it there
Good to know :)
Shebby my worst experience with these criminals will be good for your CZcams channel. My husband was scammed over $100,000 with credits the criminals applied for him. Just recently this year 2021
Nice video, although like many other commenters, I think your downplaying the unethical behavior of these firms. I understand your desire not to sound sensational or biased, but in this case the actions of many of these companies merit a pretty damning review. I've been tempted in the past to take up one of these timeshare offers for the discount and to experience the sales pitch, but from what I've heard from others who have participated the monetary discount might be eclipsed by the negative experience overall.
I'm sharing this video with half the people I work with and most of my relatives. It's probably to late but.... oh well
We were on the big island in Hawaii, and they were offering free tickets to the zip line if we attended a "no pressure" timeshare sales pitch. It's funny how their face changes when it's over and they ask you if you'd like to sign up and you say no. I wasn't going to budge; timeshares don't make sense for me. But, we have some family members that signed up for a timeshare that are hotels available in several countries. That sounds like it's different, but for me and my wife, it doesn't work for us.
Works till you get older and they upsell you into a package you can not afford promising you that your heirs are going to enjoy it forever. They don't tell you that when they attempt to get you hooked. They screw older people all the time.
Good points! Currently own a time share and vacation club and the value is incredible if you know what you want, know the amount you are willing to pay, and are a good at negotiating.
Exactly. Been using our timeshare products for many years.
Serious??? And ad to start the video? Then an ad a minute later!?!? Wtf
We got my dad had dementia! Lol 😂 glad we didn’t commit to anything!
Hey Ask Sebby, I recently got my discover card (secured) to build my credit as I had no history. I've tried out the method of reaching near my spending limit ($500) and then pay it off so my utilization can be 1%. I've gone through only two billing cycles and Discover reported my FICO score of 748 but Credit Karma gives me a score of 684. Could I apply for the Chase freedom already? Or should I wait more time to build more history?
You usually want 9-12 months of personal (non-AU) history before touching Chase: www.asksebby.com/free-card-consultation/
Is there a timeshare that lasts 3 weeks? I'm looking to get out of the rain in Washington state during late winter. Does such a thing exist??
I sell timeshare. If you wanted 3 weeks every single year at something quality it's going to cost you about 32k-46k then about 1k in annual hoas and taxes. In my opinion it's only worth it of you are well off and want to travel in quality accommodation. Or have a ton of kids. The little amenities save you thousands of dollars when you travel. Like waterparks, mini golf, ziplines. All that little stuff is free for the owners. It really adds up f you have 2 or more kids.
have you looked at mvno's of tmobile? metro pcs? mint wireless? I am a big mobile fan but honestly, I can't tell the difference and they use the same tower and it is a lot cheaper...
It's probably something worth looking into, at least to test. I do a lot of video streaming when I'm on the go though (I also could probably just download the videos beforehand, since I'm already paying for CZcams Red haha).
I get like 15 mb down on mint sim. but since you stream you might be more into metro pcs's unlimited.
basically, if you need
under 5gb mint wireless $20
under 10gb mint wireless $25
unlimited Metro $50
I played the game of jumping between 12 different mvno's in 2 years (got a lot of good sign up stuff) I couldn't tell the difference between each respective backbone.
Then I found what I pay for mint wireless vs all the free stuff I was getting... it was about equal. So if I find a switching promo after my credit is up with mint sim I might take it and swap right back. (you buy 3 months first then you buy a year at a time for best price, luckily it timed up well with the q1 freedom)
The difference is that actual TMobile customers get prioritized in busy areas. I have a friend with MetroPCS and while we were in a busy area, and with her phone having a full signal, her mobile data was useless. My TMobile mobile data worked perfectly, not even a noticeable slow down. Aside from that rate case, I doubt there is much of a difference.
I love prepaying for hotels for 40 years.
Does the 10 days cancellation process successful!!!!!! Anyone out there successfully canceled within the 10 days period.
If you truly want to buy a timeshare, my advice would be to tell them you want time to review the contract before ypu sign anything. If they dont want to give you time to do this, they dont truly want your business and are there to screw you. Im not talking about a few hours either. I mean they need to let you take it home so you can look at the contract you might be signing so ypu can decide if this is a contractual agreement you want to get into. I wouldnt stay a buyer of timeshare, but if i did, i would ask them to remove from the contract any waivers of ypur rights and abilities. This include a waiver of your ability to participate in a class action suit against them and a waiver of your ability to litigation or take them to court and having them be the sole provider of arbitration. I would also request that it is written in the contract that the seller cant change the amount of the maintenance fees as they please. The maintenance fees would have to stay fixed, or they would only change based on an official national inflation rate. I wpuld request they remove any clause that states the seller can change the dollar amount of the maintenance fees as it pleases, and remove any clause stating that the seller can afterwards include new fees not already mentioned in the contract. If they wont do this for me, i wouldnt sign with them and stay an "owner" of timeshare properties.
Love this comment. in essence...read the contract....if you are going to go into business with another party...read the contract...lol if they dont want you to give you the time to read the contract...well, surprise surprise that's probably not good company to be doing business with
I look at this a bit different. I just purchased a "Comeback" vacation from the rental car agency in Vegas. I will be at Caesar's for 3 days and 4 nights. I purchased the package for 150.00 and will be given the money back on a gift card if attend the timeshare presentation, however if i don't i still get the room I just lose the money. Caesar's is a 200 dollar a night hotel plus resort fees. If i have to sit for 2 or 3 hours, small price to pay. I think most of these stories are from people who were uninformed and just couldnt say no. It's no different when "credit one" sends those idiotic flyers in the mail.....SAY NO
Yep, that's the "come in to see the phone" portion I mention. I definitely think this is fine, as long as you have self-control :)
Off topic, but what do you think about the new credit card being developed by Apple and Goldman Sachs?
More options (assuming worthwhile) = better :)
Thanks for posting this very informative video.
My wife and I have owned a timeshare in the past. We bought on the secondary market, so we didn't get screwed, enjoyed the benefits for about 7 years, then sold it at a slight profit after our vacation habits changed. Timeshares are a good value if you regularly vacation at your PRIMARY property during peak season, i.e. Hawaii for Christmas, Las Vegas for New Years or Disney World in the summer. They're an OK value if you vacation at various places at other times. There are a couple of things to be aware of
1) Most timeshare salespeople are scumbags. Sebby is right about this.
2) Buy on the secondary market. NEVER buy at a timeshare presentation. If you like what you see at a presentation tell them you'll think about it and shop the secondary market. The Disney Club may be an exception to this.
3) Make sure that the primary property you buy is some thing there is a demand for even if you plan to vacation elsewhere. That means it should be a location where they can't do virtually unlimited building of new time shares. This would include Lake Tahoe, New York City, Hawaii , the Las Vegas strip north of Tropicana and south of the Stratosphere and Disney. It does not include Mexico, Orlando other than Disney or Las Vegas other than the strip. Buy in one of those places and you're going to get burned.
We just did a timeshare talk one on one with a broker and the reason I was really temped was the "Getaway Trips." Have you seen these in yours and used them? It seems pretty legit in that you can go most places for around 30-40 a night where i'ts normally 100-200 a night... you pay a $169.00 yearly fee to get access to them and can take as many as you want. (Our talk was in Breckenridge, Colorado. Thanks!
@@LivinginDurangoColorado Our timeshare was in Tahoe. Peak season there were the summer months and the ski season. We weren't into skiing so we would use the equivalent of getaway nights March through May, and then late September through November. it cost about $50 a night but this was back in the late 90's early 2000's.
@@00177454419 Thanks!! Really appreciate it!
Very helpful
the one my salesman told me was that he dropped out of med school because it was 17 semesters long. and now hes selling timesharares
Why can't you cancel? You transfer your status as a timeshare user like a disease; Pay 1 $ to be a slave?
Hell, I'm so gluten for punishment I was talked into two different time shares....."Yes, I own two", I've finally paid off one but my wife got suckered into upgrading the other a few years ago....now we own 20 more grand.... so over 7,000.00 a year in fees and we don't use them. We go on cruises instead...
The long term or mostly lifetime perpetual annual maintenance and club dues are scary. It’s something you can never get rid of - like herpes. If you’re lucky you can just give it back unlike herpes.
LOL 9 credit cards for 9 nights in a hotel with annual fees and interest if you charge enough to get a free night on each one? Did I hear that right?
I think on these cards he is referring to, you get a free night certificate (most cap to a sordid category hotel, though) just for paying the annual fee.
So, for my just planned 17 night stay next summer in two prime SoCal ocean view 2 bedroom condos/resorts (timeshares programs) , this guy will be checking in and checking out 17 times (that is IF he can find this many credit cards offering free annual night stays).
NO QUESTION ABOUT IT..unless you like wasting your money...
We just did a timeshare talk one on one with a broker and the reason I was really temped was the "Getaway Trips." Has anyone seen these or have one that has them? It seems pretty legit in that you can go most places for around 30-40 a night where i'ts normally 100-200 a night... you pay a $169.00 yearly fee to get access to them and can take as many as you want. (Our talk was in Breckenridge, Colorado. Thanks!
Try actually scheduling a date and you will find they aren't available then. Or ever.
Went to a presentation today so i could get $150 back plus free water park tickets. I had in my mind regardless that i was gonna say no. They tried hard, but i feel they could have been much more impulsive. Overall not a bad experience
@1:45 - EXACTLY.
If you don’t want them to sell you anything. Go in dressed in crappy clothing and just lie. Tell them you’re making minimum wage, you have almost no cash on hand, and your credit score disqualifies you from any type of financing. They usually don’t try very hard afterwards.
The main risk is that the benefit that you signed up for is contingent on you qualifying. i.e., 3 nights in Vegas for $200. If you don't qualify, they "have the right" to charge you the market rate which they state is ~$700.
I would still go and listen, I just would be firm with your opinion / decision.
Bad idea. They all clearly state you need to make a certain amount of money etc.
Biggest vacation scam EVER.
this vicious scam is bad in AUSTRALIA to
Avoid timeshare like the plaque!
Hey, Sebby, off topic question from this video. Couple weeks ago I got both Chase Freedom cards from Chase and have been using them. Started using both about mid/late April and on my online card statement for both say their payments aren’t due until June 15th. I was wondering should o wait that long to start making payments on the cards or start doing some payments now to be on the safe side??
I like pre-paying to decrease my utilization number. Utilization with Chase = "what you owe" when you get your statement.
Bookstore books for buying home all conditioner
All these people saying they went for the give aways and just said "no" for 3 hours.....REALLY? My time is worth a lot more than a free toaster for 3 hours of my time!
Dont u have to pay a monthly fee? I went to one of those meetinfs and they wouldn't give me a price till i signed up lmao i was like what!?
Yes the have monthly maintenance fees whether you're staying at the timeshare or not. Timeshares are just about selling points and collecting maintenance fees. Good luck trying to make a reservation.