Dan and Nadine B. had close relatives that ‘owned’ timeshares, and so when they were invited to a resort in Maui, Hawaii, at a discounted rate in exchange for attending a short presentation, they thought they would take advantage of this great opportunity.
Below is a written account of Dan and Nadine’s experience during and after the intense timeshare sales presentation. We hope this story will shed some light on the very predatory nature of timeshare sales and its effects on everyday families. Names of people have been changed and/or redacted for privacy reasons.
“They told us during the presentation that they had a special rate happening this month, and that it would expire after the end of this meeting. The meeting went over 4 hours when they also showed us one or two of the overly decorated model villas to impress us.
At the end of the presentation and tour, the sales group of three or four people told us that we can pass this expensive property on to our children and grandchildren. They also assured us that this property value will go up 20-25% within five to seven years.”
Dan and Nadine ended up purchasing the timeshare given all the great details and positive aspects of owning a timeshare they’d heard between their relatives and the group of timeshare sales people. Besides, who wouldn’t want to own a piece of paradise that could supposedly increase in value over some time, right?
As is the case with so many other timeshare owners, Dan and Nadine weren’t able to fully utilize the thousands of dollars worth of vacation perks that they thought they’d paid for.
“We later found out that the maintenance fees will grow 5-8% each year. Also, the timeshare company has changed ownership structure since we decided to purchase the property.
There is no weekly rental anymore–it is all in ‘points’, which is a total rip off. Some of the rentals need so many points that it would take us two to three years of adding points to reserve something where we originally thought we’d purchased our property. This is totally not acceptable. We’ve tried reserving other properties in different areas, but we were always told that it is already booked and that we should try again next year. Ridiculous!”
Dan has since developed serious health issues and the couple have struggled to make ends meet with these rising costs of owning a timeshare. Dan has retired and only Nadine is still working, but the couple has yet to enjoy their twilight years of settling down due to the overwhelming costs of their timeshare.
After hearing an advertisement on the radio for Wesley Financial Group, LLC (“WFG”) and finally growing tired of paying useless fees and mortgages, Dan and Nadine contacted us here at WFG. Thankfully, we were able to successfully terminate their timeshare and they are now able to enjoy their retirement!*
If you or someone you know could potentially use our assistance here at WFG, pass along our phone number below. We would be more than happy to see if they qualify for our timeshare termination services!
(800) 425-4081
