No matter how you try to spin, advertise, and even lie! Timeshares are simply not worth the money, no matter what you are told in a sales presentation. The good news is that although a contract you entered may seem watertight and the resort has thrown every possible obstacle in your way to stop you from leaving there are ways you can be free from the burden that comes with timeshare ownership. If you have ever attended a sales presentation for a timeshare, holiday club membership or holiday points program, and been pressured into purchasing there and then, chances are it was mis-sold to you. Timeshares have earned themselves a terrible reputation over the years and although the idea of owning a little slice of heaven you can visit year after year sounds idyllic, there is a reason there are so many unhappy timeshare owners who are desperate to get rid of them. If any of the below sounds familiar to you it is more than likely you were mis-sold your timeshare and like the thousands of people, we have helped you could make claim to get your money back.
- 1. They are not an investment. No matter what a salesperson will tell you and how convincing they make it sound, timeshare is not an investment and should never be sold as one. The average price for a timeshare is around £15,000, a substantial amount for something that is worth very little and actually loses money quicker than a sinking ship.
2. You cannot re-sell them later. A timeshare is not really worth anything, so it makes them extremely difficult to re-sell. In fact, they are notoriously difficult to sell and you cannot even give them away. The reason being they come with a lot of baggage. And we do not mean holiday baggage. To own a timeshare means you must take on all the negative aspects too, this includes annual maintenance fees which go up every single year.
3. The dreaded maintenance fees. These start off pretty modest for most and probably do not sound as much of a financial strain at first, however, they go up every single year without fail and after a few years you could end up in the thousands. This means paying over the odds for a week’s holiday at the same time and same place every year.
4. Timeshare loans and finance agreements are high interest. More often than not, if you cannot pay for your timeshare in full, the resort will already have a finance partner they use. This means they have a longstanding credit arrangement with a certain bank or loan provider. Typically, these loans are high interest and over the years people end up paying way and above what the initial price of the timeshare was.
The good news is that it is not too late to get yourself out of a timeshare agreement and if any of the above apply to you it may have been mis-sold to you. Mercantile Claims have helped thousands of people re-claim money for mis-sold timeshares.
People who enter into timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of timeshare owners and offer fake products, along with timeshare exit schemes. Before agreeing to any timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these types of crimes often go unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a timeshare or a ‘holiday points’-based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Money Back Claim.