Timeshares got their start in the late 1970’s. This was when stoned people in leisure suits thought becoming a 1/52 owner of a condo was a great idea – maybe even a great “investment!”
Timeshares, it turns out, are a freaking rip-off. Nothing more than another money-making scam for investors and developers who are now long gone.
Google “timeshare resale” and you’ll see that people today are literally giving them away. I know one person who bought one for literally $1 dollar.
Why do these timeshares suck so bad that people are giving them away?
- Annual fees – you could get a decent hotel room for the equivalent of the annual “maintenance” fee. Better yet this is without the strings of a fixed place and time.
- Self-serve Maintenance – you need an enigma machine to decipher the rules for “keeping your week” or “converting your points.” Otherwise, you simply “lose your time” while paying the maintenance fees!
- Nickel and Diming – welcome to the world of “reservation fee” “split-week fee” “transfer fee” “cancellation fee.”
Most of these timeshares were sold using the most high pressure tactics around. What was positioned as a “free” weekends at a “resort” turned into a 4+ hour sales pitch that would make used-car salespeople blush. Appeals like “isn’t your family worth $50 a week (over 10 years) to guarantee time together?”
Geeze. Only a jackass could say such a thing with a straight face.
Oh, and while you are googling “timeshare resale” go ahead and put in “timeshare litigation” and you’ll find 285,000 results.
A great moment in jackass history, the invention of the timeshare!