Thanks for watching everyone! If you found this video interesting then considering giving it a LIKE to support me and my channel. Also subscribe if you are new to the channel and check out my other content on finance and investing!

@elizabethsalazarvelez810

2 жыл бұрын

Did you get the gift card?

@chonthidaathiprayoon2455

Жыл бұрын

If you want to own free timeshare, just contact me. I have one in Las Vegas and one in Olando.

I am in my 60's and have heard horror stories about timeshares my entire adult life. I am a bit surprised the industry still exists. I guess the old adage "There is a sucker born every minute" still stands true.

@JakeBroe

3 жыл бұрын

I agree Salem. My entire life timeshares have had this bad reputation, yet somehow, the industry and this business model survives.

@camipco

3 жыл бұрын

Seems like, just like pyramid schemes and cults, an important part of the strategy is to repeatedly claim they aren't the thing with the bad reputation...

@transformer889

2 жыл бұрын

There is a sucker born every minute and two to take advantage of him.

Jake, glad for you not buying a timeshare. I did not survive and bought my timeshare several years ago while on vacation to Florida. As an owner of timeshares, what you are saying in this video is 100% correct. Thanks for making this video. You save a lot of people.

@JakeBroe

3 жыл бұрын

Hopefully Peter! Hopefully the algorithm will pick this up and share it with people before they attend one of these presentations and go in blind. I was really frustrated how they wanted to get a "yes" from me before I saw any of the numbers.

@peternguyen1960

3 жыл бұрын

​@@JakeBroe the salesman put all his energy on my daughter and my wife during the meeting. He knew if he gets the wife to say "yes", then he will win. That's why their timeshare meetings require both husband and wife.

@samr6148

3 жыл бұрын

@@peternguyen1960 Car salesmen do the same thing. They get the family into that brand new car and it is game over!

@scottr2706

2 жыл бұрын

@@samr6148 Of course a car has actual value, unlike a timeshare.

@chrizthecrisp

Жыл бұрын

​@@peternguyen1960 Hey Peter do you still own your timeshare?

I find the fact that there are company's who business is to help people get out of time shares as pretty telling.

@JakeBroe

3 жыл бұрын

Yep... but even them. Their costs are horrendous to use. I don't understand how there isn't the ability to walk away from this at anytime when no asset is in possession of the buyer.

@jokedog

2 жыл бұрын

Even companies that help people get out of timeshare are scam. Basically you can’t get out, but they just take your money anyway.

we were on vacation in Mexico, we attended a timeshare presentation, my wife was convinced we should buy I was totally against it, she did give me the silent treatment for three days until she watched a video like Jake's then she admitted she was wrong.

@JakeBroe

2 жыл бұрын

Haha, glad you guys didn't buy one! They are a nightmare!

@Teaarrow1231

Жыл бұрын

Oh wow! So if you don’t buy at the presentation do they make you pay extra fees for your onsite booking and do you get the 199 refund?

Great video Jake. Glad you took one for the team to attend one of these sessions. I’ve always thought - the harder the sell the worse the product must be.

If a timeshare was such a good deal there would not be a whole industry out there just to help people get out of their timeshares that openly admit it is an "expensive" exit process.

@JakeBroe

3 жыл бұрын

I agree Randy!

I survived too, wasn’t hard at all. Once I broke the “yes” questioning with No, the paint fell off the walls. Staying at a Vrbo now and it’s fantastic. This is the future 👍🏽

You mentioned Dale Carnegie's book How to Win Friends and Influence People and the techniques found in the book that the sales people use. I'd recommend a book by Chris Voss, a former FBI Hostage Negotiator "Never Split the Difference". Quick point to his technique that works with hostage takers when they made a demand, he responds with "How am I suppose to do that?" So every time they try to pin you to buying, just respond with How am I suppose to do that? It should drive them crazy.

My sister has been saddled with a timeshare for over 25 years, and during she has only had a couple of 48 hour holidays. You would therefore think that 25 years of points would allow her a super luxury holiday...... unfortunately there is a limit to how many unused points you can carry over each year (unless you upgrade). She cannot exit, and lost additional money on an exit scam (run by a sister company to the timeshare company). She is now unemployed, her husband is retired, and their finances are at a critical point. Sad situation.

@AMC-eq3jr

Жыл бұрын

If I may ask what exit company because I am in the process of looking for one, and have ignored several mail offer to attend an exit seminar in New York.

Love your content of this channel. Keep up the good work!!

Thank you very much for your elaborated video. I got into timeshare presentation with Blue Green Vacations and did not buy their package of $45K for 20,000 points every year. I was really interested though in paying up front but thought i'll do it end of this year. Your video makes so much sense that i would never buy vacation packages. You rock!

Jake, thanks for the informative video. I just sat through a timeshare presentation, and they did the exact same thing, it’s all very true. Thankfully I did not purchase! Your video will help many more!

This is an excellent video. The timeshare Jake presents is grounds for laughter.

@JakeBroe

3 жыл бұрын

Thanks Raymond! Cheers!

@Tonymanero1960

3 жыл бұрын

You can feel the pain in Jake's voice as he tries to make sense of an insane proposition by the timeshare salesperson.

The man Jake speaking Facts🙌 keep it up!!

@Tonymanero1960

3 жыл бұрын

Jake puts in the time and effort,....so that we (subscribers) can be enlightened ,.....that is why we wait patiently wait for the next video.

@JakeBroe

3 жыл бұрын

Thanks Javier! I appreciate you watching!

Ty for this video I had no idea what a time share actually was until now. You saved me from falling into a scam

@JakeBroe

2 жыл бұрын

Glad to help! Best of luck out there Lizbeth!

Love these videos Jake ! Keep up the good work

@JakeBroe

3 жыл бұрын

Thanks Wolfgang! I appreciate that!

Good video. You explained the pre paid vacation well. Time share has been associated with the word scam. When I saw that 16%apr, I laughed and wondered what type of person would make such a deal.

@traumflug

Жыл бұрын

Those who are too lazy to look up APR. They won't put that number on top of their presentation.

Really interesting to see how the timeshare model works - worse than I thought! I love the idea at the end to open a travel investment account instead!

@JakeBroe

3 жыл бұрын

Yep! Lots of better options out there than locking in your vacation stays with a single company for the rest of your life. Cheers Oscar!

Fees at 16:39 are WAY under reported here. Think more in the neighborhood of $1200-$1500 in annual fees. The numbers rarely add up when you look at buying direct from the developer and certainly worse when financing.

Another great video, Jake. I definitely appreciate the selfies at the start ;)

@JakeBroe

3 жыл бұрын

Haha, thanks Jenny! You got to make some more videos! You had such a great start!

Wonderful! Problem with most people is they don't can do math either in their empty heads or even with a calculator. About this scam, that's what is is, you are spot on, mate.

Excellent video & analysis!

@JakeBroe

3 жыл бұрын

Thanks Olivia! Cheers!

Hey, Jake! Thanks for taking one for the team! Hopefully you didn’t spend all your timeshare bonus on the airport slot machines, LOL. Great information as always. I haven’t heard too many good things about timeshares despite knowing a few people who have them and appear to enjoy them. For me the cons would be the opportunity cost and the unknown of future assessment costs. I also heard that trying to sell your timeshare is very difficult. Thanks for sharing!

@JakeBroe

3 жыл бұрын

Yep, a big problem is the annual fees that must be paid even if you decide you don't want the timeshare anymore and won't be using it. The payments never stop.

I have a deposit on one of these timeshare presentation stays with Holiday Inn Vacations but haven't booked it yet, so this was perfect. Thumbs up.

@JakeBroe

3 жыл бұрын

They won't catch you off guard now! You know the pitch!

This was a great breakdown, I knew nothing about Timeshare before this video. Thanks alot

I want to share my story. I have been attending timesharing presentations for the last 20 years. Initially there were only 2-3 major companies in it. And they were very ethical and upfront with pricing etc. I said "no" every time, and I would get free stay as promised for attending the presentation. I was always able to redeem the free stay vouchers in off-season timings, when rooms were mostly empty. But as time went by, I would say after early 2010's... many clone (scam) companies starting coming up. They had the same format, sales pitch and everything, but their free vacation vouchers were never honored. And even if honored, they wanted more money to claim the voucher than the actual price of the hotel room itself, if booked online. For example, I have to pay like 2 times the money (as voucher redeem cost) to book a hotel room for "so called free price", which would cost me half the price of the money if I book the same hotel room online from any website. So, in nutshell, I have got free stays in very good hotels, for a total of 15-20 times in the early 5-8 years in 2000's without spending anything. But after that it's all a scam.

Fun fact, IHG Club Vacations will let you do 3 of these presentations! Which generally includes a free weekend at one of their resorts, in your lifetime! I just finished one and had done one about 5 years ago. As long as you know you have the mental fortitude to say 'no' even when they try to push and shove and use known sales tactics, I say go take advantage of the free vacations!

As a retired military member or someone currently serving, I hope you had a chance to reference what military bases offer for vacations. As an example, I recently made a trip down interstate 10 staying at bases along the way where a 3 bedroom, 2 bath with carport could be had for $65/night including on-base security. All this with worldwide availability while DOD picks up the maintenance tab. A 50k invested annuity could take you far.

@JakeBroe

3 жыл бұрын

I agree Dave! Lots of better options for $50,000 even if you aren't in the military!

@spressey4149

2 жыл бұрын

We also have the Armed Forces Vacation Club with discount timeshare rooms all over the world.

Bruh... Your Eddie Munster is on point. Salute from Louisville Kentucky 💯

I was thinking, you could do the idea with an RV or trailer much better. Lol

My girlfriend and I have traveled to many (timeshare friendly) destinations over the years. Usually, we just rent a room at a timeshare location for a few days and move on. We get the luxury without the ''maintenance'' fees,...or hassle of owning. The rates are typically very affordable because so many owners just want to get something financially for the grief of having bought,......and the nightmare that (normally) comes with it.

@JakeBroe

3 жыл бұрын

That's brilliant tony! Makes sense to me!

@JohnPavlish

3 жыл бұрын

When you stayed at you friends timeshares, were you forced to sit down for their presentation too? I had a friend invite me to one, but I was worried about being forced to the sales pitch.

@Tonymanero1960

Жыл бұрын

@@JohnPavlish If you are going to any city or town that is loaded with timeshares like Sedona,Hilton Head,Branson etc,etc tey usually have rooms available for the night or two.Usually they dont bother with a sales pitch because we tell them we are just ''passing thru''.

Jake ! Great report. I'm so glad I didn't buy into it too.

@JakeBroe

3 жыл бұрын

You dodged that bullet David! Cheers!

I wonder how the “steel yourself from inflation” works for the hotel rooms but not for the maint fees. Maintenance fees keep going up each year (just like my rent) because…. ? Why don’t sales people address that?

Thanks for posting this very informative video. I learned so much.

Thank you for your service❤

I have to admit, this sounds a lot better than any of the other timeshare programs I've seen *I started typing this comment before I saw that they were trying to get you to finance 50K at 16% APR, LOL, WTF????* Please ignore my initial statement, lol. Excellent analysis of the opportunity cost of simply investing money that you'll later draw to pay for vacations a la carte. I sat through one of these pitches in Cancun just to see how it worked, and the sales tactics were intense. At least this one sounds more like a "travel club" than a timeshare. Still though, I'm not a fan of prepaying for things like this because the future is so uncertain. Absolutely agree with your assessment: what happens if Holiday Inn goes bankrupt 2 years from now, or another pandemic happens, or what if I end up losing my job and need to liquidate assets? I doubt there's a strong secondary market for the Holiday Inn "timeshare" club. Standard timeshares are hard enough to get rid of. Call me crazy, but I'm not a fan of signing any contract that says I have to pay a "maintenance" fee in perpetuity just to be able to keep something I've already paid for.

@JakeBroe

3 жыл бұрын

Haha, you are good Andrew! Overall I think Holiday Inn Vacations Club is a better customer service experience than other scammy companies, but it is still grossly over-priced.

@Tonymanero1960

3 жыл бұрын

Outstanding analysis.

Thanks for insight

HILARIOUS 😂 Great video

*_I am a poster-child millennial so I don't commit to anything for the next 30 years, let alone vacation. Lol. But I hope you saved some poor schmuck their retirement fund. Great video!_*

@JakeBroe

3 жыл бұрын

Hopefully the algorithm shares this video with people and they know more about what they are being sold. I'm pretty sure anyone who watches this video would then NOT finance a $50,000 timeshare membership... i hope, lol

Thanks for the info

Great video. We made the mistake of buying a HICV timeshare, and it's just the worst. If you ignore the initial cost and just look at the yearly maintenance fees, they'll cost you roughly the same as what you'd spend booking a hotel in the same place at the same time. In other words, the initial fee / "purchase" is worthless... which is made even more obvious by the fact that, if you try to sell your plan back to HICV, they give you nothing in return, they just cancel your contract. If it's truly an "investment", wouldn't your points still hold value? O.o

@JakeBroe

3 жыл бұрын

Very true Jason! Thanks for sharing your experience!

@AMC-eq3jr

Жыл бұрын

Why sell the timeshare for nothing when you can terminate you timeshare legally and recover some ot the cost. Btw, you can buy a HGV timeshare in the marketplace for a fraction of the cost.

Excellent analysis! On top of all your good points, the point I myself always look at: Once they got your money, do they have a motivation to keep up their good service? In case of these timeshares, they don't. Good service, poor service, they always get the same money from you, so capitalism demands them to provide poor service.

Thank you for giving us a tip on how to deal with timeshare people! I’m glad you didn’t buy it.

@JakeBroe

3 жыл бұрын

Haha, I was never even tempted! But I did go in blind. I didn't know what their sales pitch was.

I went to a timeshare presentation at a resort in Mexico a long time ago...what a nightmare that was.

@JakeBroe

3 жыл бұрын

At least the weather must have been nice!

My wife and I have recently purchased our 3 night stay. that being said this is our first time going, and we are most definitely not interested in the time share. my question jake is "you have any pointers on surviving these 2 hours?" Side Note: Loved the video quite informal and was explained in a way i was even able to understand, and i thank you for sharing with us.

@JakeBroe

2 жыл бұрын

They are going to be very manipulative and you will feel uncomfortable during the last 30 minutes of the presentation. You are going to have to strongly turn down the agent you've been talking to for 2 hours and then you'll have to strongly turn down that agent's manger. But eventually they let you go.

@godiaragon6469

2 жыл бұрын

@@JakeBroe thank you Jake. My last question is about a refund or return policy. In the case being we decide not to attend this 3 night stay. I couldn't help but notice it was not mentioned.

@MT-yx5cu

2 жыл бұрын

@@godiaragon6469 there is no return. I just booked one with Hilton

@godiaragon6469

2 жыл бұрын

@@MT-yx5cu thank you and have you done it before?

@MT-yx5cu

2 жыл бұрын

@@godiaragon6469 not yet; I plan to in March. I asked the rep over the phone about refunds. I just want the free 3 nights to go visit my family in Myrtle Beach 😊.

I was part of Diamond Resorts International and was able to be released from their Point system vacation stay program several years ago. I was relieved to be free of the $2,000+ annual maintenance fee and the difficulty in reserving weekly stays at their better resorts. I had 10000 points and usually my maintenance fees would of paid for a nice hotel stay somewhere desirable. I was not able to recapture the initial investment of $30,000. Of course I could not resell it. The discount on resale was not worth the effort of selling.

I survived my timeshare recently with holiday inn vacations at Myrtle beach. I was surprised I checked into a double tree and had to drive 2 minutes to the sales center. As usual I allowed 3 hours as typically sales representative will bring his manager to try closing on me. Even the representative who gave my cash deposit tried to close on me. They tried selling me from $50k package down to a $900 package. I only went for the free vacation stay. 3 nights at Myrtle beach was actually $90 for 3 nights as taxes and resort fees was not covered by the presentation. I was offered $300 cash back with $200 deposit. I only wished I went to Myrtle beach at march to September as it was too cold to enjoy the outdoor pool and too cold to swim in the ocean.

Horrible. No one who has bought this understood what he was buying. Should be illegal.

I like when they bring in closer, with the good hair and expensive watch! Dude I said no!!

Worst job I ever had was cold calling people to show up to timeshare presentations. Brutal awful job.

@JakeBroe

3 жыл бұрын

I worked phones for a political campaign cold calling people for 3 months back in 2008 and that was easily the worst work I have ever done. Calling people who don't want to be called is the worst job experience I've ever had. Cheers Ross!

Great video a lot of good info for the uninformed.

@JakeBroe

2 жыл бұрын

Thank you Claudia! Cheers!

Glad you made it out alive. I too attended one of these and managed to make it out with my finances intact. The sales rep told me their closure rate was about 1/3.

@JakeBroe

3 жыл бұрын

1/3 is terrifying... but yeah. I can confirm that while I was up there they had probably about 10 reps with other families and it looked like lots of people were signing up and getting the membership.

@bctsteve

2 жыл бұрын

It is so sad to hear that people fall for this.

@transformer889

2 жыл бұрын

@@bctsteve They bait the trap with a three-day free stay at their resort , food, etc once a person accepts free stuff then feels obligated to give something in return.

In short, it's a money pit. Not a smart financial decision.

Awesome 👍

@JakeBroe

3 жыл бұрын

Thanks BL! Cheers!

Last week I went to a similar presentation from Hilton and they ALMOST convinced me, I spent 4 hours there and ended up saying no, but still got their prices that was $150 in cash and a week of hotel in any of their hotels.

This is nuts.

Lmao sunny orlando. It's been. Raining for 3 weeks now lol

I got had by Wyndham about 4 years ago before I took control of my life. I wish I would of seen your video before lol. I did however pay off the financing for it very fast. Still have maintenance fees!

@JakeBroe

3 жыл бұрын

That's good it is paid off deadleague! You just have to make the most of it for not!

Awesome!

We got "lied" into buying one about 25 years ago and have only used it about 8-10 times. Been trying to get out from under it for the past 10 years with no luck. Vrbo is the way to go as far as vacations away from home. Don't make the mistake we did. RUN AWAY AS FAST AS YOU CAN AND DON'T LOOK BACK.

@AMC-eq3jr

Жыл бұрын

Did you try an exit company during the 10 years? It's much easier to terminate you timeshare if it is in one of the major companies, and not paying the fees will hurt your credit rating.

@garyleahy4537

Жыл бұрын

@@AMC-eq3jr Yes, we tried two different exit companies and got scammed both times. The first one cost us $1800 and the second one stole $2300 from us. If you know of a "reputable" exit company, please let me know. As they say, "The third times a charm".

Great video. Funny though you mentioned about inflation. I think we are at 10% right now 😭

I was being pressured to go to one of these presentations. I was told that I would get free breakfast for only 90 mins of my time.The representative said it's just a presentation and I wouldn't have to buy anything. I politely declined to go to the presentation because idk if I would have survived it. Plus I can buy my own breakfast 🤣. I love change so I would never buy a timeshare. I want to try different hotels and have different experiences.

@bradishler5967

2 жыл бұрын

Well a lot of these "timeshare" offers aren't your normal timeshares. Like I forget how much Club Wyndham membership cost but you get a few offers. But you could use your points and stay in say 1 resort for like a whole month or so depending on point cost and time of year. Or you could use all those points stay like 3 nights one place, then a week another and so forth so it's not just one place

Really good information. But I love my time share. It’s perfect for myself in my daughters. I also have a job that allows me to travel and as an owner I get a free week every year.

Once you give them your money, they control the value of your money by turning it into there currency (points). It makes way more sense to make the hotels earn your stay, by either excellent service, good prices, convenient location, or amenities.

@landshass2849

2 жыл бұрын

You nailed it 👍. I always use this method when accepting credit cards offers. Unless the card promise a cash back percentage in US Dollars I won't bother accumulating any points. As you said, points are worthless when the point issuer have the control over their value. Airline points are much worse.

But all the junkies keep on buying them😂😂😂😂😂😂😂😂😂

Wow glad I’m looking into this now before my trip. We just got sucked into 6 days 5 night with Hilton hotel in Hawaii for a good deal if we sit through a 2 hour presentation never have they mention timeshare in this package. I am so glad for these KZread videos hey what 2 hours of my life and me saying NO multiple times for this good price 😊plus it’s only 1 wasted day out of my 5 nights I just hope they are not rude and ruin my vacation.. Nope I’m still going to enjoy myself 😂

@alysiazhou9908

Жыл бұрын

How much is Hilton charging? Marriott is currently offering big island 4n for $699, kauai 5n for $799, Maui 5n for $899, and Oahu 5n for $999 to sit through their presentation. I feel like this is pricey compared to what's offered by others?? Don't plan to buy EVER!

With experience with having a Timeshare, this is my advice to have a timeshare with zero maintenance fees, no hidden costs, travel to any destination, includes food, transportation including your flights, use it as much as you want or not use it with no penalities, and get out of it anytime. You build your own timeshare. Put 20K, 30K, 50K in a savings account or finance it the same as you would have had to finance if you purchased a real timeshare. Then use that money for all your vacations. It can last enough to transfer to your kids for some and maybe you only have enough for 10 years but you are in full control.

Few people spend all their allocated holiday...on holiday. I spend at the most 14 and some years we don't spend any.

We did the Wyndham Time LOST presentation in Las Vegas. The trapped in an MGM Resorts International property to insist we attend the presentation. Pressure Tactics a turnoff.

@JakeBroe

3 жыл бұрын

I've heard of the nightmare stories. I think this company went easy on me because they know I was active duty military.

very interesting.... i don't even know that is still a thing :) I remembered I got a hard sale 20+ yrs ago in orlando - but got free tickets to Disney but I did not buy it - I'm glad I did not.. my vacation type has changed tremendously last 10 years..

@JakeBroe

3 жыл бұрын

Exactly! And I think how people vacation will continue to change over the next 10 years. These companies know that and they are just trying to swindle people today.

Evangelia Mintzai brought up a good point that your needs may change over time. I been on vacation twice in a 5 year period to Disney World with a large # of family members besides my wife and daughter. We rented a very large home instead of being separated in multiple hotel rooms. So I would not had any use for a timeshare anyway for those 2 visits.

@JakeBroe

3 жыл бұрын

For sure Randy! I also went to Florida with about 10 friends and we just rented an Airbnb house. Much easier and more fun that booking several hotel rooms and trying to coordinate everything.

You forgot to mention how much you would make if you just put 40-50k in that S&P account in ten years what it would be or 20 years. Also mx fees you have to pay forever add up too. Hilton is 1200 per year forever.

so the biggest question i think everyone is asking is, "i go there say no no no.. ect, leave" what is the catch for them to charge my credit card with the fees of vacation that they booked me for my initial 200.

The one dislike is from your sales rep 😂😂😂

@JakeBroe

3 жыл бұрын

Haha, she was pretty cool about it. Probably was her manager who disliked this video.

Are you getting this.....he’s a timeshare salesman.

Very well done. Yes, if I had $50K to drop on it right away.

@JakeBroe

3 жыл бұрын

Cheers lewis!

I just booked a timeshare presentation (without figuring out what it was) in order to take "advantage" of 3 "free" hotel nights. I understand the pitch, and I know that I will NOT buy a timeshare (since I use credit card points for hotel nights). However, I just would like to know how long is the presentation and tour going to take? Is it 2-3 hours? Also, is it just one session? Thanks for the great video!

@JakeBroe

2 жыл бұрын

Yeah, it will be 2-4 hours depending on how hard they want to sell you. And it should be just one session. Good luck FALKEN!

It's perfectly feasible to beat any inflation figure by shopping around and checking rates frequently prior to your stay. Hotels often shift their prices, sometimes up, sometimes down. Book with a flexible cancellation policy and keep an eye on the rates, re-book if a lower rate pops up. Simple. If you get financing though, that's always done through a third party bank. The timeshare won't care what you do about your payment, because they already have their money. There's really no risk of them cancelling a membership because of a missed payment on a credit line. That's between you and the bank.

Hey I'm in Wisconsin too!😍

Good stuff. My wife and I took over her parent's 20 YO timeshare, which had been paid off years ago. We only have to pay the annual fees and I still think it is of marginal value.

@JakeBroe

3 жыл бұрын

Haha, good deal for you Bob! At least you didn't have to pay for the initial cost.

@MT-yx5cu

2 жыл бұрын

How much are the fees?

I paid about 1/4 of what you were quoted and paid cash for a 2 bedroom with loft. No financing. For that reason, feel pretty good about it. The financing was absolutely stupid.

@JakeBroe

3 жыл бұрын

Paying cash was key Richard! Cheers!

I was told we could refinance & also prepay. The lowest tier was under $15,000. After the timeshare is paid off, I'm told membership fees are only to continue to use the vacation club membership. My real question is how's the availability for those that use the timeshare?

Wife and I have owned our Las Vegas timeshare and it’s been paid off, has been worth it 100% but we also Vacation 4-7 weeks a year

Very good video!!

@JakeBroe

3 жыл бұрын

Thanks joao! Cheers!

Thanks for the video. I purchased Wyndham it much lest than 50k I have a few daysvto cancel. I did submit a rescission letter. They gave me a better deal. In which I could pat it off in a year or less. Should I keep this vacation ownership

@decoteekromah7161

Жыл бұрын

How long is the rescission period?

The points system is more than 15 years old. I used to sell them in 2008.

@JakeBroe

3 жыл бұрын

Interesting, I had never heard of it before so I assumed it was a newer model like as in the last 5 years.

@evangeliamintzai6302

3 жыл бұрын

@@JakeBroe they tried to distract complaining customers from the old timeshare model of one week and tried to convince them that the points system gives flexibility and you are not tied to one property etc. Well that wasn't true. You still need to have your base and pay the annual fees. The whole thing was a cover up for angry customers.

We attended a timeshare presentation in June at a Blue Green property in Williamsburg Va. Once they presented a copy of the contract, I immediately saw the 16 percent rate to finance one of their packages in addition to the $1000 a year maintenance fee. I jumped on that and was rather vocal in expressing my incredulity at that rate and loudly announced that we don’t finance vacations, especially at 16 percent. I also noted that $1000 is often half of what we might spend on a typical vacation. I found out later after some research that those maintenance fees increase yearly. They gave up on us fairly quickly, probably because they didn’t want potential buyers within earshot of our table to hear my comments. We did attend with the conviction that we would not purchase anything and held fast to that. Their cause wasn’t helped by the fact that the sales manager was extremely condescending, which put me off even further.

Prepaying for a hotel room for 30 years plus annual fees that are as much as the going rate of the hotel for a week. What could go wrong?

Thank you

@JakeBroe

2 жыл бұрын

You are welcome D!

Thanks

@JakeBroe

2 жыл бұрын

You are welcome DJ! Cheers!

Great video😊

Well I was able to say "no" as well.. what is your opinion on buying a used (cheap) Timeshare deed?

So no Europe Asia. Basically Orlando for the rest of your life

Great video... They tried to get us to buy into this and the interest was at 17.99.

I did one last year with my family. Went amazing, It was a 4d/3n at Atlantic City. It was $150 I think plus the tax of hotel I picked Ended up being $200 plus the resort fees so another $80. They also offered a $150 gift card. After getting to resort late at like 3 am. Ended up getting gift card bumped to $300 cause when I got to hotel the front desk lady said my trip was canceled because I got to hotel after 3 am even though I was waiting in line for 10 mins because of a drunk cutting line and then wasting time and I legit walked up to counter and it turned 3 am as I was speaking. So I had to pretty much sleep in car for night because they would not give me my reservation that night. After talking to wyndham people next day after probably 6-7 hours being on phone finally got ahold of somebody and they said they couldn't do that to my reservation and finally got my room. Did lose a day other than that issue it was fine and I'm looking into doing it again

I know someone who had a bad experience with a time share but he still says it’s good because he can’t stand looking foolish.

Good presentation Too late for me Can you give another presentation on on how to get out?

@JakeBroe

3 жыл бұрын

That's a good video topic idea Nalini! I can look in to it!

My biggest complaints about time shares: Your money is locked in on a single type vacation. If one's finances do not allow a vacation some year, you still have to make payments or at least pay maintenance fees. What controls are there on booking and maintenance fees? Finally, owners with whom I've talked to have marginal success with site trades.

@JakeBroe

3 жыл бұрын

Yep, I have also heard everything you have said. It does not add up to me.

I am trying to figure out how people are still buying these timeshares, is mind blowing. The amount of people that signed up for these timeshares while I was visiting was insane.

@JakeBroe

2 жыл бұрын

I agree Jaque! Lots of people signing up while I was there as well. Madness!