| You already know the horror stories of owning a | | | | any case, the next step is to concentrate on |
| timeshare vacation. Salespeople sold you with | | | | making your timeshare a worthwhile investment. |
| lavish promises of exotic vacations that never | | | | I've come to realize that even with my timeshare |
| quite come true. They trapped you with a high | | | | I do not save money on my vacations. Rather, I |
| pressure sales pitch for hours. You feel nickel and | | | | take better vacations for the money I spend. |
| dimed by all the fees you have to pay to use it. | | | | What do I mean by this? For my $1000, I'm not |
| You can never recoup the money you spent | | | | staying in a standard hotel room in the budget |
| when you try to resell. After you've bought the | | | | hotel a few blocks from the action. Instead I'm |
| timeshare, you can either regret the purchase | | | | staying at a 2 bedroom condo, in the middle of |
| doing everything you can to get rid of it or you | | | | the golf course next to the JW Marriott. It even |
| can use it to its fullest. I'd like to open your eyes | | | | comes with a kitchen. Yes, I drank the Kool-aid. |
| to the possibilities that you can still enjoy your | | | | Truth is you can't be happy unless you've make |
| purchase and hopefully make you a happy | | | | that kind of comparison. If you only can think |
| timeshare owner. | | | | about how much you spend every year, then |
| More than likely, during a vacation in your not so | | | | twist it around and start thinking about how much |
| distance past, you were happily walking down the | | | | it would cost you to take that vacation on the |
| street or checking into your hotel, when | | | | open market. For instance, my Marriott ownership |
| somebody asked you, "Would you like to make | | | | allows me to exchange for Marriott Rewards |
| $100 for 2 hours of your time?" or "How would | | | | points, which I can use at Marriott's hotels. I used |
| you like free tickets to the show tonight?" You | | | | this feature to stay at the Marriott Grand Flora |
| accepted the invitation and later found yourself in | | | | Hotel in the heart of Rome. At nearly $400 a |
| a room full of people who also accepted the | | | | night, my $1000 that year was well worth the |
| invitation. You watched a video telling you about all | | | | price. I can guarantee you that I would never |
| the great things you can accomplish if you'll just | | | | dream of spending $3000 on a hotel room for |
| buy this timeshare. You then took a tour of the | | | | my vacation. Many other modern timeshare |
| units, with the salesperson telling you this is the | | | | companies have similar programs. You should |
| number one vacation destination in the country. | | | | explore these options. They might make more |
| Then you went back to a conference room | | | | sense for your style of vacationing than just |
| where you spent the next few hours trying to | | | | looking at exchanging or staying at your home |
| get out of the presentation so you could get your | | | | resort year after year. Personally, I let my free |
| $100 and return to your vacation. You looked at | | | | membership with the exchange company lapse |
| the numbers they gave you and for some reason | | | | and never looked back. |
| they made financial sense to prepay all your | | | | If you stick with the exchange companies, you |
| future vacations. Then you came home and | | | | really need to understand how they work. They |
| realized you've created a huge financial liability and | | | | use secret formulas to match a timeshare trade |
| start to regret the purchase. It got worse when | | | | with like for like. This means a studio unit in |
| you started researching online, finding all the | | | | Boston for December will not match to a 2 |
| horror stories people tell about their timeshare | | | | bedroom unit in Hawaii in May. This ensures that |
| experience. | | | | when you give your unit to the timeshare |
| The regret really comes from the mismatch | | | | company, they will only match your trade to a |
| between reality and what the sales team told you. | | | | unit that's similar in size and similar in quality with |
| Basically, you took the sales pitch at face value. | | | | the unit you gave them. During my brief time as |
| When they showed you those numbers, they | | | | an exchanger, I figured out 2 ways you can use |
| presented them in the best possible light. "It's a | | | | this to your advantage. The first: become an |
| small maintenance fee, about $75 a month for | | | | obsessive planner and figure out where you want |
| upkeep so the resort remains a premium | | | | to go on your vacation about a year in advance, |
| destination." "The exchange fee is only $100." | | | | possibly even 2 years. Reserve the best highest |
| "We'll pay for the first year's membership with | | | | demand week you possibly can, such as holidays |
| the exchange company." Realistically, it will cost | | | | or spring break. Then place your trade request as |
| me over $1000 to use my Marriott Vacation Club | | | | early as you can. Keep in mind, the weaker your |
| timeshare for one week this year. You probably | | | | position, the more flexible you need to be. If you |
| realize by now that the same unit you just | | | | have a low-demand week, you can't expect to |
| bought sells for half the price you paid on the | | | | get the size or date you really want. It may |
| resale market. You probably tried to use it, | | | | happen, but don't expect it. The second way to |
| figuring you'd give it a chance and went to go | | | | take advantage of the like for like rule: look for |
| trade it with one of the exchange companies. For | | | | the window of time when those formulas no |
| some reason, your searches don't bring up any of | | | | longer apply, usually within a month or two of the |
| those exotic destinations they sold you on, like | | | | unit's check-in date. You need to be very flexible |
| Hawaii. Your searches only return place like | | | | to use this method. Think what would happen if a |
| Orlando or Las Vegas. Maybe this wasn't your | | | | Hawaii timeshare owner cannot use their unit next |
| experience, but I doubt you would read this article | | | | month and deposits their 2 bedroom unit. Since |
| if it wasn't close. You must remember that those | | | | the check-in date on the Hawaii 2-bedroom is so |
| salespeople are there to sell to you. They talk up | | | | soon, the formulas don't apply and you are eligible |
| all the good points and avoid the bad points. | | | | to make this trade, no matter what kind of unit |
| With that kind of experience, does the number of | | | | you deposited. If you are diligently searching for |
| dissatisfied timeshare owners surprise you? Some | | | | this kind of trade, you can increase your |
| people will never get past the point of feeling | | | | probability of reserving that 2-bedroom unit. |
| they got ripped off. But what can they do, now? | | | | Of course you can do other things with your unit, |
| They could sell it on the resale market for half of | | | | such as renting it out, donating the week to |
| what they paid for it. They could stop paying the | | | | charity or any number of uses. Unfortunately, the |
| maintenance fees and taxes, loosing the rights to | | | | timeshare companies don't spend much time |
| even use their property. They could continue to | | | | teaching owners the ins and outs of using their |
| use it and feel the regret every time they paid | | | | timeshare. You need to take control and do some |
| their maintenance fee, the exchange company | | | | research to find out the many ways to properly |
| membership fee and the exchange fee. Or they | | | | use your timeshare. If changing your thinking and |
| could educate themselves learn some of the tips | | | | learning how to properly use your timeshare still |
| and methods to become a happy and successful | | | | results in failure and you're unhappy with your |
| timeshare owner. | | | | timeshare. There's really nothing you can do to |
| The first step to happy timeshare vacation | | | | make you feel good about the purchase. On the |
| ownership is to consider your purchase price a | | | | other hand, you're now forced to take a week |
| sunk cost. You will never get all of that money | | | | away from work every year. Is that really such a |
| back. This may be a painful shift in your thinking, | | | | bad thing? I used to take a vacation every other |
| especially if you financed it and are still making | | | | year. Now I alternate between an annual |
| payments. If you did finance the purchase, you | | | | international trip and a domestic trip. Remember |
| may want to look at alternative financing, like | | | | you now have the privilege of taking incredible |
| taking out a home equity loan on your residence | | | | vacations for the same price you used to spend |
| to pay off the timeshare company's note. This will | | | | on budget traveling. |
| at least save you some money on interest. In | | | | |