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Why Is It So Hard To Cancel A Timeshare?

Why Is It So Hard To Cancel A Timeshare?

Canceling your timeshare seems like a relatively new concept, and that’s because more and more people today have been enlightened to the deceitful and immoral tactics used by timeshare salespeople. To be honest, timeshares just aren’t a good investment nor an investment at all for that matter. As more people start to realize this, the timeshare industry has had to throw their integrity to the side and instead, sell falsehoods caped as vacation properties. Timeshare companies lose money if they don’t have owners for their units, and they have shown they will say whatever it takes to get a sale. It turns out, they will also do whatever it takes to keep you stuck with that property so they can continue to keep draining your bank accounts with their constant and costly fees.   

The Timeshare Industry Wants It That Way

Timeshare companies cannot afford to lose you as a client of theirs, and therefore they purposely make it extremely difficult to leave. They understand going into their sales presentations that many people will regret purchasing their timeshare and will eventually attempt to get out of the agreement. Because of this, these companies are prepared for this and create several obstructions to make the path to canceling much more strenuous on owners. Timeshare companies are completely aware of what they are doing, but they hope to catch you in a moment where you are the one unaware and they use that to your disadvantage. It wasn’t always like this though, and canceling a timeshare used to be much easier. As the number of cancelations increased, the industry knew it had to do something, and unfortunately, it was at the cost of their innocent clientele.  

Buried In Paperwork

If you’re a timeshare owner then you most likely remember attending your first sales presentation, but what you probably don’t remember too fondly is all the paperwork you signed that day. Salespeople strategically keep the focus off the paperwork, and instead, draw attention to exaggerated benefits or promotions. So when it’s time to sign on the dotted line, they bring in the paperwork for a split second, and then it’s gone. In all actuality, there is quite a bit of specifications and stipulations that are not typically fully communicated with the buyers. During the sales process, the timeshare representatives steer away from discussing any form of arrangements for canceling. When some time has passed, and you’re now looking to cancel, the representatives will quickly throw all the paperwork in your face and show no support for you.

Too Expensive

If you are able to get help from your timeshare company, you may want to reconsider their intentions. If they lied to you numerous times during the initial sales meeting, there’s a good chance they’ll do it time and time again. Oftentimes, timeshare owners will reach out to their company wanting out of their agreement due to a number of reasons. When this happens, the representatives see another opportunity they can take advantage of. They will strongly encourage you to upgrade your property by informing you this is the only way to get out of your agreement. The problem with that, is that it is a lie. The timeshare salespeople are not there to help you with your finances, they will do the opposite of help and do so without remorse.

Why Is It So Hard To Cancel A Timeshare?

Lack of Alternate Options

Timeshares are too often sold to buyers who believe they are making an amazing investment on something that will save them lots of money and also be of value to their family. Well, this does not end up being the case for most. By the time the owners realize their property does not hold any value, there is nothing they can do with it. During the sales pitch, timeshare sales people tell them that they can rent out the timeshare unit to others for an additional source of income. Or, if they ever do want to get rid of it, they can sell it for a profit because there’s such a lively resell market. If you try either of these routes, good luck, because they are going to be near impossible.

No Value

Timeshare units hold absolutely no value. The so-called resell market for them is non-existent, and renting them out is impractical when the resort itself is offering better deals for future guests. Many buyers are sold on the fact that they can always make some money off of it if they end up not using it. These properties do not increase in value over time but continue to decrease until they are worth nothing. It’s a bit of a running gag on timeshares, but it still holds some weight, so go on eBayⓇ and see how much they have timeshares listed for right now. That’s right, $1! People are dying to get out of their timeshares, so they are willing to give it up for as little as $1. All because they were led to believe that their timeshare would be an investment for years to come.

Frequent Scams

Another other option that people tend to look into is the timeshare cancellation industry. This is still a new industry, but it was birthed from the countless complaints from disgruntled timeshare owners who felt they were scammed or pressured into buying a timeshare. This industry has great intentions and with the right company, like Wesley Financial Group, LLC, this can be the best route for you to terminate your timeshare. The bad news is that there are others who challenge the outstanding integrity of this industry and act as fraudulent scams. If a company is cold calling you with immediate options to resell or exit your timeshare, do not trust them. Many of these scam exit companies will ask for upfront and expensive down payments, and this is a major red flag. Please take an adequate amount of time to research your third-party cancellation company, and make sure they offer a 100% money-back guarantee before paying for any service.

The Solution

Your timeshare company will make it as difficult as possible for you to get out of your timeshare agreement. Timeshare properties are almost always valueless, so there are not any legitimate options to rent or sell for a profit. This leaves the best solution as working with a trusted cancellation company, such as Wesley Financial Group, LLC. Working with them will make the process of canceling a timeshare much easier and stress-free.

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