Cancelling a Timeshare or Vacation Club Contract in Mexico
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- čas přidán 17. 11. 2022
- PROFECO
www.gob.mx/profeco
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DISCLAIMER: I am not a lawyer, real estate professional, immigration specialist, import broker, financial advisor, major league umpire or astronaut. The information provided in my videos is based on my own experiences and/or research and is not intended to serve as professional advice. I make no representation or warranty of any kind, express or implied, regarding the accuracy or completeness of said information. In other words, take some responsibility for your own life choices and conduct your own research before making important decisions.
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We went to a TS presentation on our first trip to Puerto Vallarta ... fell for the sales pitch ... $5K dollars on our Mastercard. Next morning had the "oh S!*#" moment and sent emails to everyone whose name was associated with the purchase, the property _and_ the vacation club. Said in the email that we were exercising our right to cancel the contract in accordance with section X.x.y of the sales agreement and in accordance with Mexican consumer protection laws. It took about 40 days, and a few "are you really sure, we thought you were so happy" emails from the TS, but we received our refund. Must have been one of the lucky few. Great vid, and good advice!
Dodged multiple bullets like Neo from the Matrix
Hi! I’m in the same situation right now, can you help me please.
I too and impressed with Profeco. They have a whole list of setup for new construction houses as well.
I have been approached many times at all inclusive resorts in Mexico..never listened to one sales pitch. All I did was tell them to check the cost of flights from Newfoundland, Canada to Mexico, they soon agree with me that it is definitely not feasible. It’s way cheaper to pay for an all inclusive vacation package from here than to be in any timeshare or vacation club. Love your videos Paul and Linda😊
Great advice. I just retired from a timeshare exit company. Even with buyers remorse few cancel within the right of recision timeframe. So sad. Just do it.
Thank you.. Vallarta Gardens in Nayarit pressured my partner into a purchase even after we told them he had a brain disease. Profecco didn’t help much with phone meeting continually cancelled or our side of the3 way never connected. We had doctors letters and photos etc… This happens sooooo often.
Never sign up for a timeshare, rules to live by!
More videos on consumer protection would be awesome. Thank you Paul.
They are on my short list. :)
Hi Paul, thanks for all the great advice. Signed up for one of these clubs and read all the review's after! Drafted a letter and went back the next day.and got the contract cancelled and a full refund😅. Cheers
That's great. I'm glad it worked out. :)
Mazatlán airport. It was the first (and last) time we ever did the all-inclusive vacation type thing. At the airport, we ran the gauntlet of time-share operators. We told them we don't travel that way, that we like to strike out on our own and try small boutique hotels in small towns (see your last video - fabulous, by the way.) They promised a free ride to our hotel. We told them there was no way we would buy a timeshare. They promised us $500 (U.S.) We told them that under no circumstance would we buy anything like what they were selling. They promised a tour of Mazatlán. Again, we reiterated everything we had just said and they said, "No problem. We understand. Just give it a try."
So, we relented. Took the free ride to the resort. Took the free tour. Listened to their sales spiel. Then, in no uncertain terms, told them that we weren't interested. "So you're just going to take the $500?"
"Yes. We were very clear up front that we had no interest in your product."
It was a ridiculous experience and one that completely soured us on the resort type areas of Mexico. Even now, when we travel to La Paz, the worst part is running the gauntlet at the San Jose del Cabo airport.
Interestingly, I don't remember any alcohol being involved. Maybe that was their big mistake. 😅
Thank you for the helpful video. I just got pressured into buying a vacation club today and trying to get out. I my situation, there was a waived closing cost that they had me sign is nonrefundable. It was a pretty big amount and i hope it was just there as something to deter you from wanting to cancel. Have you run into this?
When my Dad tried to "give away" two time shares I knew they were not a good investment. In Sedona my Wife and I listened to a sales pitch. I told the guy I'd work the numbers and get back to him. He started to "throw" everything at me to get me to buy NOW.
Later I did run the numbers. The "actual" value per time share monthly cost was $1.5 million, for a trailer.
Profeco is very good. Our kitchen was done badly and after we went to Profeco, they handled the paperwork und forced the contractor to redo it.
They used to sell me time shares when I traveled. I told them even to buy 10 t shirts I have to talk to my lawyer and my CPA. That was a nice way to end. I feel so bad for those who trust them. We all learn somehow.
I've never said yes. It's fun to play with them too. They become big goofy bawling babies or outright manic. Weirdos. Very comedic.
Haha we bought into Grand Bahia Principe 15k CAD luckily it came with an RCI membership that we loved n used every year n still use
Great video Paul 👍
Thanks for sharing your knowledge with us 2 Canadians 🇨🇦 living in Mexico Yucatan Peninsula ✌️ J&D 🥰🐶
RCI as in Royal Caribbean Cruise line?
@@Mr-lw7gy resort condominium international
Great stuff as always! Here is a consumer question that mght interest you: I had plane tickets on Aeromar for December 1 (MEX to Puerto Escondido). They changed the flight time and then, a few weeks later, they changed the date to Dec 2- meaning we would not get to our destination on time). I phoned and they said they would allow me to cancel and give a refund. I bought flights on Volaris. Aeromar sent me a email asking for my credit card info (that I paid with). Crickets. I have now called twice - they keep on saying they will refund - but nothing. Its been about five months. (I have flown with Aeromar several times - this is my first problem).
I signed up for one in Cancun and I'm actually happy with it and see the worth
Hi! Which one did you sign up with? Just signed up for one, and I’m having regrets.
Paul - Here is an interesting topic you may want to research. BTW-This is the 1st time I've ever responded to a video although I watch at least 20 CZcams videos regularly, not just travel videos. I have owned a condo in Cozumel for over 20 years and rent it out when we can not be there. I got my permanent resident visa in Sept 2021 and got my RFC in May to comply with the enforcement of tax laws. I opened an account at BBVA and hired a reputable accountant to handle the correct taxes (there is a lot of confusion about what taxes are actually due and this may be another subject of your videos). Anyway, BBVA required that I set aside a certain amount each month to guarantee that they would receive their service fee. At the end of 6 months I was to receive the money withheld less a certain amount for the privilege of managing my account. They have been withholding at least $2200 pesos per month (sometimes as much as $2380) since May., 2022. Now, November, is 6 months and they are telling me that I must come in personally to stop the withholding or they will continue to deduct the money from my account until I personally request that they stop; in person. They say my money will returned to my account without interest, of course, once I come in personally to request it. I think this is perfectly legal in Mexico, but it is certainly unethical and others should be aware of it.
Wow, thank you for bringing that to my attention.
Wow! I’ve never heard this before. Sorry you’re having so much trouble with it. I have heard other people have big complaints with BBVA. I have had an account with BBVA since 2010. Back then things were a lot more antiquated, but the only caveat was that I needed to maintain a minimum balance in order to avoid bank fees. But this is common in Canada as well. About 5+ years ago a bank employee suggested I switch over to a no-fee account since I do the majority of my banking online. Never have had an issue with it. I even have a BBVA credit card and have never had issues with it regarding the bank. For those living in Mexico full time or near to it, I’d recommend a national credit card. No hassles with foreign card problems not being accepted at the terminal. The one time I had to cancel my card because a scammer got ahold of the number, the bank immediately cancelled it, refunded the fraudulent charges without question and reissued me another card all at the same time.
What would be the problem with me moving to Puerto Vallarta and renting an apartment tomorrow. Could I take care of everything I need to down there? I'm going to drive and take care of the vehicle and visa issues at the border.
We did buy this in Punta Cana yesterday but when we want it to get out of the contract they said that there wasn’t a way they could do that! Is it the same law of the 5 business days in Dominican Republic?
I’m here right now at the Cancun resort sunset royal and I’m cancelling my membership
Let’s see how it goes they pressure you into thinking it’s a good investment
Hi what if it’s been over 2 month can I still cancel?
What can I do if I don't have a contract?
THANK YOU, Paul! This really would have come in handy about 3 years ago when we *almost* bought some time shares - right before the scamdemic. I thank heavens for having had enough sense to have bargained a day's reprieve to do some internet search of the reviews before fully committing back then. But my oh my, that cost us 1/13th of our once-in-a-lifetime super-expensive vacation that we won't get back :/
I have heard that on the 5 business day, you must be careful. I was reading someones comments about the club offering at the place we stay, he wanted out of the deal, waited until Monday to go to them. He was told No because he was past 5 business days. They stated since they work Saturday and Sunday, they are considered business days? Not sure if that is legal
No, those are not considered "business days" for the purpose of the law.
well, unfortunately I did not see this on time. OK so now months have passed. I want to use the membership and I realize this scam, promised me was half a lie. What can I do to get out of this contract now I am four months into it and I want to stop paying the membership.
Hi paul, what about they keep on insisting that they dont recognize the signature in the contract and because service has been use we cannot cancel even all request has been sent. I disputed it with my credit card company but they are saying they will send it to collection agency here in US. Can they actually do that?
Yes, they often use collections in the U.S. If you sent notice within the alloted time in the law, you can file a complaint with PROFECO to help resolve the matter.
What if we signed with them and at the moment of payments we backtracked and refused to continue by not providing a payment method?
OMG !!
I’m still here at the Resourt and just failed for it😣. Tomorrow will go to the Resourt office and cancel it. I’ll let you all know how it went after by leaving a comment in this same comment at the bottom. It sounded so good but after watching your video it literally felt like punch right it my face. 😑
Were you able to cancel?
Yesssss!!! I did it the next morning. I prepared myself to not accept any more offers and also informed myself with my rights. They tried to convince me but kept saying “I want to cancel” and they cancelled the contract since I was still on permisible time range. Hope your were able to cancel too.
Paul, a related topic for another video. A comparison when and how to engage the services of PROFECO vs CONDUSEF. I see quite a few well intentioned Facebook posters recommending to use PROFECO for financial related consumer complaints, when they should be engaging CONDUSEF. I would be interested learning which situations would be considered as financial vs other. My perception is that banking and credit related would be considered as financial for CONDUSEF. I am sure there are gray areas....
That is a good topic. Yes, CONDUSEF is for banking and credit issues. I will add that one to the list. I plan on doing a PROFECO one very soon too.
What if I gave them my cancellation within the 5 days and they tell me I can cancel but that they can’t refund my deposit?
Hi. Please include the link to Profeco
It is in the first line of the description section. Here it is again: www.gob.mx/profeco
do you have anything about selling a timeshare/vacation club contract in Mexico? any info is greatly appreciated.
It’s probably negative value, you would need to pay $$ to give it away
Serious question - if approached by an OPC at the airport, would it help to just say "yes, we're married, just not to each other ;-)"?
I'm not sure how the laws down there work but if it's anything like the United States, only one person signing wouldn't work, right?
Hi Paul, thanks for the video! I wished I had watched it within that five days cooling period. We had exactly the same experience, signed the contract with fingerprint and recording, then the next day we went back to cancel it, the president came and told us that we waived the right to cancel. So we called our credit card company to dispute right away, still waiting for the result!! We didn’t know that we needed to cancel in writing, we didn’t use the service at all, they didn’t send us log in info yet. All we have as a proof that we wanted to cancel was the what’s up chat history with the sales, do you think we still have a chance?
What happened after?
@@veronicanavarro554hi I’m still in the process of disputing with my credit card company, but I think the chance is low, did you have the similar experience?
@@user-tm2nd9yt3lyes but im within the 5 days. I just disputed the charge w my credit card but still shows pending
Don't see the promised link to Profeco
Sorry, I'll add it now. Thanks.
What can I do if it’s past the 5 days?
Unless they violated the consumer law in some other way, not much of anything.
Pueblo bonito mazatlan BEWARE
Can we still cancel after 5 business days? It’s already 7 business days. We don’t mind paying small amount of penalty.
Were you able to cancell it???
What happens if you did get sucked in. are you obligated to a Mexican contract ? Can they hack your US credit?
I want to know this too!
Another great video even though I have limited sympathy for stupid people making stupid purchases .
Haha, I understand.
timeshares are NOT an investment!!!! they can be a great way to travel IF you buy correctly, I've owned one for 30 years, and it's been great. Bought for $500 directly from an older resort, but 5 STAR in California great trading usage. Or buy them through the resale market, I bought one with 15 years on it through eBay for $400. USE resale market.
Why does her name be Maria? 😒
Mmmm tequila
Cash is King. Only pay cash. I told them I would buy three full packages but only if they came to my home and not waste my vacation time. They never showed up.
Timeshares basically have the worst rated experience out of virtually any business
These vacation clubs are the new time shares, just don’t. Sorry no one know what the future hold, I don’t want to plan my vacation that far in advance.
I DOES NOT HAPPEN JUST IN MEXICO!
It happened to me in San Diego!
Do not fall for this scam!
Nothing about Mexico impresses me especially Santa Ana during the Siege of the Alamo.
Where do you like to travel