Given the plethora of unfavourable reviews on the internet with regard to owning a timeshare it amazes us that the product is still sold in vast quantities. The situation in Europe is a little different to that of the USA. A number of developers have either scaled back their sales operations or closed them entirely we cite Diamond Resorts and Club la Costa in the latter. Without doubt this is due to the tough consumer protection laws surrounding timeshare contracts and sales in both the UK and EU. So why in the USA is business still booming? From our research we can honestly say it’s not the product but more the extremely persuasive sales people at the resorts. More importantly it’s the inability of the “prospects” to say no.
When no becomes yes
As virtually all resort sales decks will insist on only presenting to couples this is where the tactics begin. Most couples will have drawn up a battle plan before attending the presentation in which they will agree that the word no must be used at every opportunity. Sales staff are very familiar with this and will work on “breaking the pact” that has been agreed beforehand, thus getting at least one person onside forcing the other to capitulate, sale done!
The other tactic is to keep the pressure on for hours so the eventuality out of sheer desperation and the pressing desire to escape the never ending bombardment, a signature on the dotted line is seen as the only way to put an end to this torture. The latter works very well as may be evidenced by “buyer’s remorse” reviews.
Consumeraffairs.com is a well supported blog site which has literally hundreds of stories from unhappy timeshare owners. There is an all too common thread regarding high pressure sales and the fact that the consumers concerned had no intention of buying a timeshare but did. Below are some extracts:
- This presentation turned into a four-hour ordeal, where we were pressured to the point where we felt that our only option was to make a purchase so that we could leave and enjoy the rest of our trip.
- It lasted 5 hours. We had no money but the concept was cool to us. We honestly said no 4 times. Each time they came back with a lower package for us. We had no money. “It is cool but we can’t afford it” we kept saying. We finally said yes to an every other year points system.
- I told the employees repeatedly that I needed to get back to my daughter so that we could go to Disney World like I had promised, but they would not stop pressuring me into a purchase. I finally gave in so that I could get back to my daughter and not ruin her entire day.
- We were vacationing in Las Vegas and attended what was supposed to be a 90-minute timeshare presentation at MGM Grand…it ended up taking three hours. Two representatives kept asking if we wanted to buy, but we declined. It was a high-pressure pitch and we ended up purchasing a two-bedroom villa.
- While writing this I’m crying right now. I felt so guilty that I put my husband in this hard situation. I was the one who convinced him to buy a membership.
And so the reviews go on. The last review is a prime example of “breaking the pact”
A good or bad experience?
When researching the subject of timeshare presentations the majority of comments are extremely negative. Not only are the high pressure tactics quoted but also the time taken and the incessant lies of the sales people who will say just about anything to get a signature on the bottom line resulting in many owners actually buying timeshare they didn’t want and later found out it came nowhere near offering the benefits promised at the sales presentation.
Bearing in mind that most developers and resorts offer some sort of incentive to attend such presentations be it meal vouchers, discounted rates, theme park tickets and all sorts of other “freebies” there are some folks who attend presentations as a hobby just to get the perks. These rare people have worked out that sitting through laborious timeshare presentations for 5 or 6 hours and continually saying no brings a handsome profit. Well done them, unfortunately they are in the minority.
You caved in and regret it
So after being ground down you saw the only way out was to buy then realised it was a mistake, well all is not lost. In Europe, timeshare legislation calls for the buyer to be allowed 14 days to change their mind and pull out. Added to this no monies are allowed to pass hands within this “cooling off” period. This will be quoted in the purchase contract. To cancel follow the instructions in the contract.
In the USA it’s not quite that simple. Each state has its own laws and the cancellation period ranges from 72 hours in Indiana through to 15 days in Columbia. Most states settle on between 3 and 5 days. Again the contract will contain instructions of how to cancel. For individual state laws see this article. There is no law in the USA relating to deposits or full payment being taken on the day, if you paid money this has to be returned upon cancellation of the contract.
Cancellation will never be mentioned during the sales presentation and we doubt if any sales staff are even aware of the rules so finding the information in the contract is of paramount importance, and believe us when we say it will take some digging.
Some tips
The first and obvious one is unless you’re seriously contemplating involving yourself with timeshare don’t go to a sales presentation. If you have been lured by the offer of gifts and you start to feel uncomfortable with the whole affair, walk out. Is it really worth a free meal or a couple of theme park tickets? Probably not.
Never hand over credit cards, driving licences or passports, there is no reason that this should be required. If you are asked to show your bank/credit card cover some of the numbers with your thumb! If the salesman wants to take something important it’s impossible to leave until said item is returned so don’t give it to them.
Never fall for the “price drop” close or the “it’s only available today” pitch both are lies.
Here are some more points to add to your survival kit:
1. Go in prepared.
There is no reason to be mean or rude. Just know your stance, be assertive, and remember that you don’t owe anyone anything. It’s not impolite to say “no” without an excuse. “No” is a complete answer that doesn’t need to be justified.
2. Remember that you’re in a sales pitch.
For salespeople, ‘being nice’ is part of the sale. Similarly, ‘showing empathy with you’ is more important than them telling you the truth. They butter you up in order to get information out of you, and they rely on the information you’ve volunteered for their pitch. Things like your job, hobbies, or even your holiday habits are used to determine your personal wealth and spending habits.
3. Silence is your strength.
It’s really, really tempting to argue, or to call the salespeople out when you catch them after they ‘blunder’ or you find an ‘ah-ha’ moment. But just remember, if you argue, you just feed into their pitch and you’ll end up staying even longer. They want you to argue so they can sell you harder. Don’t get into a back-and-forth.
4. Be on guard for the angle.
The salesperson is always fishing for an angle. If they don’t know what is important to you they can’t sell to you. They’ll try to get you emotionally involved. They might try to insult you, or dig at your ego, with things like “you can’t afford this, right? This is too much for you.” Don’t defend yourself. Don’t justify yourself. Just say “your right” and leave it at that.
5. Decide on a secret reason against buying and never disclose it.
If they don’t know why you won’t buy, then they can’t give you a pitch or argue against it. A secret reason could be; for us, we knew that a timeshare is a bad financial decision. The financing is really expensive, and you don’t “save money” in the end. By not divulging this fact they can’t sweet-talk their way around your roadblock if they don’t know it’s there.
6. If you really want a timeshare, don’t buy at the presentation.
Maybe you really do want a timeshare and it may work with your lifestyle. If that’s you, then don’t buy at the “pitch”. Do your research, resale timeshares are in abundance. Resales will allow you to buy the same resort for much cheaper than the lowest price offered at the presentation.
Finally
No matter which way you look at timeshare ownership it’s an expensive long term commitment that is all too easy to get into and in many cases nigh on impossible to get out of. Whilst we think all agree that holidays are an important facet of life, remember timeshare is only a self catering holiday after all. The very same resorts are available through online booking platforms without the need to stump up a small fortune to buy in.
If you submit to a timeshare presentation be warned, resort sales staff are at the top of their game. Despite a fabulous command of their native language they never learned the meaning of No, so to avoid an unwanted purchase you need to educate them that no is really no not maybe or worse still yes.
After the presentation you walk away with a free gift without buying, well done you. If you walk away with a free gift and a long term timeshare contract at least you have that cancellation period to reverse things but speed is of the essence.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk