The fact that there is now an industry of lawyers that exclusively deal with getting people out of timeshare contracts is all you need to know.

I recently found out my future in laws got suckered into buying a timeshare/vacation club. My stomach dropped when they told me. Already explaining to my fiancé that under no circumstance will be ever have anything to do with these. I truly can't fathom why anyone would want to go in massive amounts of debt with interest just to be limited on where they can vacation and be stuck with nonstop fees. Just save up for the vacations you actually want to take. If you cant afford to pay for it in full, then you can't afford to go on vacation. It's that simple.

She took a 30k loan with 15% APR to buy a timeshare? If Capital Vacations wasn’t going to scam her, someone was.

My wife and I attend timeshare presentations once a year, usually in Florida. We do it for the sole purpose of getting a free week stay at the resort, no less. It gives us great pleasure wasting 1 or 2 hours of their time, to then walk out with our free week, and sometimes more. I would never recommend this to impulsive buyers or those that don't know how to say no. You have to go into these things with a mission in mind.

One of my friends invited my husband and myself to their timeshare in Mexico. All we had to pay for was the all inclusive fee for food and drinks. My friends who owned the timeshare were required to pay this fee as well to use their timeshare. I called the hotel and was able to book the room for less than my friends. They had already spent a good amount of money for this timeshare, plus annual maintenance fees. I was able to vacation for less than them for a week. Don’t ever buy a Mexico timeshare.

Many years ago my husband and I were vacationing in Mexico, and were told we'd get a free breakfast buffet if we went to a "short" presentation. Well, we were hungry so went went and brought our appetites. They held us captive fir over an hour while we could smell the delicious food in the other room but weren't allowed to touch it. Finally we got to eat, and the food was delicious! After breakfast they still wouldn't let us out. We had to sit through another pitch. Then they came around with the contracts. I couldn't believe that some people actually signed up! Be we kept saying no. They went through salesperson after salesperson trying to work on us. When it was clear we wouldn't sign, they brought over this big tough guy to try to threaten and intimidate us to sign! Then the group leader said it was time ti tour the property, and that it would be mandatory for us to go with them. As soon as we got outside we bolted. NEVER CAVE IN!! IT'S A SCAM!!

My friends and I have literally crawled out of a hotel window to get out of sitting through a timeshare presentation 😂

I remember being lured to time share presentation back in 2004. I was 23 years old. But even then,the whole experience was extremely strange and suspicious to me. Years went past,and I was almost certain that people learned that time sharing was a scam of the past. After watching this, im in state of shock. i couldn't be more wrong. It's amazing that now,in 2024, more people are falling for this despite having instantaneous access to an enormous amount of information. People will never stop being stupid and naive

This is a time when we need to either heavily regulate or outright ban this "timeshare" system.

I had to sit through one of their pitches with my wife after the in-laws invited us on a vacation. These people are blatant, ruthless liars. They tried to justify numbers that didn't make any sense and had a stupid rebuttals anytime they were confronted with basic math or logic. At one point they brought over their "two best salespeople" and tried dividing my wife and I because she seemed more interested in their BS. After standing firm, one of them got condescending but when you go low, I take it to the floor. They no longer wanted to speak to me shortly after. Never waste your money on a timeshare.

As a tourist in Florida, they made me sit through a timeshare presentation just to get free/discounted tickets to Disney world. It was worth it, but they do employ decent sales tactics. I can understand how Americans would be tempted as a foreigner who went through

I sat thru their presentation cos i was told i had a pair of free tickets to Japan worth $3000, but when we showed no interest to invest in their other offerings, they were not only rude, they said their policy was to book the trip with a mandatory booking of their selected hotels which will cost us $6000! Very sad that these are still legalised scams today.

I love timeshare presentations. I would go to the ones where they give you free 3 day vacations just for attending the presentations. They spend hours like car salesmen to sell it to me, I keep saying no and take my free vacations. I have done it like 6 times. Went to Mexico, Hawaii, Jamaica and Dominican Republic for pennies on dollar. Without ever signing up for anything.

TimeShare is an industry created from the hotel industry that has on average 30% vacancy rate throughout the year. The floating weeks is pretty much what they offer to fill up what would be empty reservations. TimeShare is a forever contract and you are stuck for life.

Got suckered into two timeshares while visiting Orlando in 2023. Wyndham has a booth at Seaworld. They picked me out of the crowd and said that I look like a guy who wants to save money. Ended up going to a Disney resort for a timeshare with the promise of a free week of vacation. They used high pressure sales tactics to get me to sign up for a $20,000 vacation club. I guess you could say my guard was down. What’s worse is that Westgate also offered me a vacation club which I accepted that same trip. Realizing I had made two gigantic mistakes, I had only 3 days to cancel my Westgate contract and 10 days to cancel Wyndham. Once you sign the contracts, they could care less about you. Good luck talking to anyone to even book trips. It’s the most legal scam ever. After several cancellation letters and next-day mailing totaling $250, I got out of my two contracts by the skin of my teeth. Don’t ever get suckered in. If you do, make sure you following the cancellation terms to a T.

One of the elements in the sales pitch is “you’re going to take a vacation anyway so this way you can lock in your cost”. Just ask yourself if you would be taking a vacation if you lost your job.

Thanks CNBC for bringing awareness to the public

As someone who worked in the TIMESHARE industry management for 17 years (not in sales!) My advice is simple: NO. Hell NO ! Never buy one!

Best advice - get a friend that already has a timeshare. Good Buddy of mine sent me to Vegas for a week at the Wyndham Desert Blue this past October. I had a 2 bedroom suite all to myself - It cost me $0. The place was very nice and quiet. When I initially checked in, they tried to give me my "Free Gift" which could have been a gift card or another trip "on them", but this required attending their 2-3 hour "presentation". I told them I didn't have time for that and then I was left alone. I should also note - I was there alone. Single Guys aren't their target demographic. They're looking for couples and married folks.

We’ve been to a couple of TS presentations with no intention to buy. The trick to get out of the sales pitches is bringing a toddler. They will get fuzzy after two hours and starts screaming, crying or throwing a tantrum. The sales people always let us go as fast as they could.

I didn’t realize timeshares were still a thing.

Me & my wife signed up for a timeshare because we had gone on a few trips we liked from a vacation package she bought before we met. We asked specific questions & read the paperwork. They ran her credit without our permission & once I figured that out I was over it. She wanted to sign up I was mainly against it but we went with it. We knew we had 7 days to sign forms & read paperwork. That’s exactly what we did. Cancelled as soon as we got back ;)

My wife and I have an Alaska and Hyatt credit card. We charge most of our bills and pay it off at the end of the month. We get 5 days at 4 star Hyatt properties and free airline tickets at the end of the year. We take 2 big vacations a year. You could not make me get a time share…

My girlfriend just got an early inheritance from her parents. They gave her one of their timeshares. I said, "Your parents really dont like you do they?"

I went to a retail store, shockingly, there's ppl wearing their uniform talking about vacation, they are smart, avoiding the word "timeshare" but everything she mentioned sounds like "timeshare", i didn't realized it at first, it sounds wonderful, not expensive at all for the whole trip. But she said meetings, and that's when I want to ask my parents about it since it's vacation for 4. And that's when she said, "why do you need to ask your parents? You're an adults!" That's when I walked. Thank goodness, my parents saved us. We don't even realize that they are timeshare, we walked because they disrespect my decisions and my relationship with my parents. Later, we sat down and pieced everything together, and we realized that they were timeshare.

A friend of mines had his wife show them her old EBT card (they hadn’t been on EBT for years when this happened) and said “look, I can’t barely afford food, what makes you think we even have a credit score”, they basically got rushed out of the room and given their “free stay”.

They are always a bad deal. Period. Full stop. My parents got talked into buying into one some years ago. We happened to be with them. They then wanted my wife and I to come into the office and fill out some paperwork, including my wife'sand my social security number. I asked them why they needed *my* social security number to sell something to my *parents*. They spent several hours trying to explain why they needed it, but none of the answers made any sense. Fortunately, there was a 72 hour right to revoke and my parents revoked the agreement with no penalty. My parents aren't naive and are very successful business owners. But these salespeople know exactly what buttons to push and how to push them in such a way that a rational person can't process it efficiently. I am generally very free market and don't like government regulations. But given that I can't see any legitimate reason for these programs, I'm not sure they should even be legal.

I have some young friends who recently got married who both work very modest hourly jobs. They are just starting out and don't even have enough money to do much. After they came back from a short trip for their honeymoon, they told us they bought a timeshare so they plan go to Hawaii together. My heart just sunk. I knew right away that they can't afford to loose this money. Money they can't afford to lose will be siphoned out AND they are never going to see Hawaii with this purchase. But it was too late to tell them that now. Very sad how much money will go out the door before they realize it.

Why hold the exit companies more accountable than the actual time share company? Christ this country is backwards.

In 1998 I was only a year in this country and not knowing of the bad rep of these places went to a timeshare presentation. I could notice the people that had their balloons popped and celebrated were people in on the business, they were part of the scam. But what it was really scary is that when we tried to leave the place they wouldn't let us leave. It was very scary and people got very confrontational. Never again!

TOP TIP for dealing with High Pressure Timeshare Sales Presentation: I brought along a full sized bag of extra crunch potato chips. Every time the presenter got to a dramatic sales pitch part, I started rolling my bag of chips. It was loud. Then I would stand up and say "My bad." and sit down, because I am English and that's the polite thing to do. That lasted about 10 minutes then they asked me to step outside. As I went outside, I passed by the table with the giveaways and I took my two champagne bottles and two envelopes filled with COCO BONGO tickets with me. That's called WIN - WIN!

There are a few simple rules that can help you avoid getting scammed: 1) If something seems too good to be true, it probably is. 2) If something requires you paying random fees up front before getting the service, don’t do it. 3) If someone randomly calls you asking for personal information, any sort of financial commitment, or a favor (especially if promising you’ll be rewarded/it’s to your benefit), don’t do it.

How are people still buying time shares in 2024

My parents were suckered into a time share. Luckily it only costed 2k to get out of their contract. Could have been much worse. However, the vacation was awesome

The people who fall for scams like timeshares are the same ones criticizing the way you spend your money. That’s why I don’t listen to anybody’s “financial advice”.

I traveled to Barbados with a family friend and this handsome young man approached us offering a free bottle of rum to watch a presentation. I immediately said nope but she wanted to go. Since we promised to stay together while traveling I accompanied her. It was a time share pitch. I got my rum and said no thanks but she was sucked in. I tried to convince her not to do it but she was sucked in. Three years later she was still complaining about how expensive it is and she was struggling to get rid of it. I just don’t get it. As soon as I heard the cost vs reward I knew it was a ripoff. Why can’t others see it?!?!

The worst part is if say your elderly dad dies, it gets passed down to your adult kids and you actually have to file a motion in court saying you don't want it. Then it passed to the next of kin. Luckily my elderly grandfather was luckily to sell it off. Practically gave it away for free, but at least it's gone.

I bought a timeshare. The next day I send a letter to cancel the contract. Best decision of my life to cancel it.

When I attend a timeshare presentation, it’s only for the well researched free gift. I also check the minimum time I must attend (usually 90 mins) and announce my intentions at the very beginning. I then set my timer and at the end of 90 minutes, get up and collect my gift. That’s the only thing these presentations are worth attending for. My “gifts” have included lift tickets, amusement park tickets, free weekend stays and kindle tablets.

My mom when she was older had string of timeshares with consecutive slots at a single resort in Mexico, from November to March. Every two weeks she would pack up her stuff and move up or down a few floors or down the hall. She could afford it and loved the weather the location and the staff. She said it was like assisted living but with great weather and better service lol! But obviously for the average person using them the way it usually ends up, it’s a scam. P.S. She got some of them pretty cheap because it was an older resort and she bought “used” when they didn’t have as many years left.

I think there needs to be more laws on timeshares. There should be laws banning making false claims at sales presentations, that steps to cancel ownership and membership be specified in the contract and be doable more easily, be required to disclose that there is zero resale value, disclose how many points are needed for bookings more accurately both during peak and off-peak dates, and that the total buy-in costs, loan costs, and maintenance fees be disclosed to the person in big print. Heirs should also be able to not inherit or immediately terminate a timeshare contract when its owner dies.

Used to work for a TS exit company and helped dozens of TS owners out of their contract. The yearly maintenance fees go up and average of 4% a year in perpetuity. Almost impossible to get out on your own, but is possible sometimes. If you own one best of luck, but if your thinking of buying one just don't. It's not ownership it's a hotel room you rent for a couple few weeks a year. Beware

Years ago a co-worker mentioned to me that he and his wife had THREE timeshares. My reaction was "good Lord!". He was actually bragging about it. I was dirt poor then but even I knew he was a sucker. About 2 years later he called me trying to pawn one of them off on me. NOPE!

I bought one in Malta and after 5yrs when I saw an annual increase in the maintenance rates I signed it back over to them. I am so glad I did!

I never knew anything specific about timeshares but I always knew immediately that it was shady. Anything where a sales person has to convince a normal person to buy something very expensive is typically a scam.

Everything about timeshares is scummy. Also, don't forget that you could also get pulled into "update" meetings where they'll try to get you to upgrade your timeshare (i.e. take on a new loan).

The evil of time share agents is that they ask for “the names of friends” who might be interested. Two jackasses kept putting my name down. I kept getting calls from all these time share companies! But they would say that they would keep calling until I phoned them back. I had my friends call the time shares to tell them to stop calling me but by that time I was getting calls and emails from other firms ! I guess they sold my name as “an interested party.” Now whenever I am on vacation I put these two jackasses names on the list and say keep calling I am away a lot but super interested!

Wife and I went to a presentation in the mid 80's. Maintenance $500 per yearxthe 52 weeks is $26,000 for that one unit. 4 unit buildings. I presented the math and asked "How is a new building or ANY building of 4 units going to require $108,000worth of work a year?" They got nasty and kicked us out! Other couples near us got up and left too!

"I love my $200/night vacation so much, let me pay $50,000 for it!"

I feel bad for people who get caught up in timeshares but how did that couple buy a timeshare then a year later buy another one just to find out it’s a scam? Like at that point it’s really on you

The fact that the government acted against the 'exit' companies but not actual time share companies says it all

My parents bought one of these and oddly love it. Theirs is west gate at a place in Florida, they go every year for probably 20 years now. They seem to think it’s great still, their maintenance is $1200 a year but they get a villa for a week which i guess they think would cost more on its own. All i know is, i am prepared to file the proper paperwork when this eventually get passed down to me to make sure it doesn’t get attached to me. I dont have the heart to tell them, they think they are passing down something valuable to me.

I don’t understand. Why would you pay 30K plus maintenance fees instead of just saving a few thousand bucks and going on vacation? Can someone explain why anyone would do this?

Are we NOW just getting to realize this?! this has been the way of these since what, the late 70's!

In the 80s I told my aunt not to bother with a time share but she didn't listen and within 2-4 years she was complaining about it. I never found out if she did get out.

This is embarrassing, but I was suckered into a timeshare about 20 years ago. I knew to stay away from timeshares, but their presentation never, ever mentioned that they were selling a timeshare. This was during the most stressful time of my life when I went to the presentation after signing up for a car raffle at the local mall. They said they'd give me a free trip to I can't remember where and all I had to go was see the presentation here in town. The way everything was presented, it was nothing like a timeshare at all. My mom had just passed away, I had moved my father with me due to his dementia and Parkinson's disease. My youngest brother had severe developmental and neurological disorder, and I was his temporary guardian after my mother died. I was still working full-time and had stopped my MBA program due to these family issues. I was halfway through getting my MBA at the time. I also had my third child at home as the other children had grown and moved on. Also, at that time, I had been divorced for about 14 years, at that time, and had a major car accident on the freeway a year before I had the newest responsibilities, so it was just me handling all these things, plus fighting some legal battles against a family member who was trying to steal the family home after my mother died. As you can imagine, I was exhausted and needed to figure out a way to get some rest by using my work vacation time, PTO, to sleep in a hotel room in a town that was 40 minutes away from my house. I was doing this every once in a while (I'd do this while my father was in senior daycare and I'd hire someone to pick him up and watch him until I returned from work. When I saw the presentation, I didn't want to go to any fancy destinations or anywhere far from home. I wanted to go to two destinations close to home. The other location I wanted to go to was a one-hour drive to that town. I didn't know how long I'd be caring for my father and being guardian for my younger brother (my brother had a state-sponsored caregiver at the caregiver's home, but I had to monitor the finances, his care, go to meetings about him regarding all the care he was receiving---speech professionals, my brother's daycare facility personnel, medical personnel, etc.). I, clearly, asked the people talking to me after the presentation if they had the two locations available that I only wanted to go to the two locations. I wanted to only go when I had time off work every once in a while for a full day (one day a week or so) in order to get the rest that I needed. They also didn't explain that the maintenance fee was monthly and made it seem like you only paid that fee during the day you actually used the rooms (I figured it would be a $20 fee for the day or week you stay). I said it over and over again which locations I needed to go to since I needed to be home on the same day, at the same time as I would normally be home after work. I gave the names of the locations and they kept saying that they did have places in those areas. It wasn't until I signed and paid everything off that I realized it was a timeshare since they gave me two extra booklets about other destinations I could go to if I wanted to pay for more points. I knew that timeshares were not something I wanted to sign up for, but I figured I'd go home (I was tired and hungry) and go over the original booklet where they had the locations that I, specifically, said that this was the only reason I would sign up for this program. When I finally had the time the next day to go over the first booklet, it didn't list the two locations I begged and pleaded that they truly had claimed they had, I couldn't find the locations. So, I called the company that day (one day after purchasing the timeshare). The company representative told me that they didn't have those locations at all and never did. I was flabbergasted (yes, they are free to lie about their company under any circumstances). I told them that the only reason I signed up was for these two locations because I was taking care of my father at my home, working full-time, taking care of my daughter, and being a guardian for my disabled brother. They didn't care and told me that they had locations in nearby states (they had nothing in my state, except for one town that is a ski town a ridiculous amount of hours away) and that I could go there. I was at a loss. I then found out that the maintenance fee was $600 a month. At the time, my home was $900 a month and even though I did have the money to pay the timeshare in cash at that time (I won the case against the relative to get the family home and used my percentage of the share to get the timeshare in cash), I only did this because I'm a good saver and don't like to get in any debt or pay any interest on loans. I had nowhere to turn, and at least one friend of mine, at the time, went to one of the resorts for one week and paid the $600 maintenance fee since he was heading to that location anyway. But I was desperate to get rid of my timeshare and found a company that took it off my hands for 10% of what I paid for it. Like I said, I was living on few hours of sleep, a lot of stress, and no help from anyone with my difficulties, so I was the perfect target for this major scam.

It sounds like a lot of people who can barely afford to live where they are now are out there buying a portion of a hotel/condo/apt elsewhere. The industry has its problem, but so does the customers.

I’m banned from going to timeshares. They gave good prizes/food/sometimes cash..and was fun touring. I actually found them fun to attend, knowing I was going to say no. Been to at least 10.

I sometimes attend timeshare presentations to receive discounts on tickets and hotels. I immediately tell the sales reps why I'm there, that there is less than 0% chance that I will purchase a timeshare, and that it's gonna be a very frustrating x hour(s) for them, which can either be spent getting to know each other or them hearing me say "no" in a variety of ways. Their choice.

I once signed up to win a free car at a shopping mall. I got a response email telling me to attend an hour long presentation and I could get $250 worth of free gifts. Well, they tried for over 2 hours to sell me a timeshare that would have put me $24,000 in debt. They were relentless, but I did not budge. I only wanted my free gifts!! On the way out, I got some of the nastiest looks, because I didn't cave. Got home and looked up the gifts I could choose and they were utter trash. The thing that bothered me the most was that other people in the room were being scammed. If I had the boldness then that I have today, I would have warned them.

I was 12, in 1981 and my parents went to one of these time share meetings oh my when my parents, said "No" oh boy they pulled out the big guns, and we're going to give them so many freebies, it was ridiculous they still said no and wanted the free jackets, they offered to come to this meeting, that day opened my eye's to these types of deals and how shady these companies are.

At presentations some companies have used 'plants' . These are well dressed people who casually get close to you to let you know how overjoyed they have been with their timeshare in the past, so much so that they are now buying another one for their children , or some such nonsense like that. These planted actors are on the payroll like the rest of the staff.

I told the sales rep that we have a policy of never making a major commitment until we have slept on it. He stressed that the “special deal” was only available today. My response: “So after I’ve slept on it, if I decide I want to take that deal, I shouldn’t bother calling you?” Of course, he back-pedaled in a hurry. I’ve been telling people to avoid timeshares since I first heard of them around 1990.

“Attend this presentation for a free vacation” feels like the Amway guys who want to “tell me about their business.”

Whenever I traveled to a beach resort in Mexico, I’ve had Salespeople to have breakfast and get free souvenirs and recreational discounts. I’ve always declined. However, a few years ago, my partner and I decided to attend one. It was just the two of us, the Salesman and his manager. They tried everything on us that you could think of, but I never gave in. I told them that I don’t let others manage my money, and they could not find a way to counter that with an answer that would make me doubt for just a second. We up got, left their office and enjoyed our vacay with no regrets. Don’t forget, you’re in control, not them!

I knew time shares were a scam back in the 90's while living in Orlando, Florida. Back then if you sat through an all day 8 hour presentation you were fed delicious food, had gourmet snacks and drinks and was given a free hotel stay and day pass to any theme park. Several years ago a had 2 female co-workers who had vacationed in Florida come back and boldly proclaim they had time shares and begin trying to sell us on the idea. I sorta chuckled and said God bless y'all.

I once went to the presentation of this business and my first thought was "this is insane." My friend invited me to sign up but I told her "this totally doesn't make sense to pay huge lumpsum for entrance fee + annual fee for a discount travel package which is uncertain if we can travel during a year." I thought it was scam only applicable in my country, but seem like it is also in other countries.

Bro we’ve owned DVC for 6 years now . Worth every penny. It has saved me thousands

during the presentation of timeshare they show all the new luxury properties, the reality is when it comes to actually book a property, all of them are fully booked for the next 2 years or cant be booked. Only properties in the less desirable location are available. On top of that, the annual fees keep getting more expensive.

The phrase, “there’s a sucker born every minute” comes to mind watching this. Who the hell doesn’t already know timeshares are a scam in 2023!?! Did these people never see Glen Gary Glen Ross?

I have the opposite story. I bought a timeshare for $1 on ebay. Beachfront in a beautiful location that I loved going to yearly. But because of other owners not paying dues the timeshare was dissolved. So instead of being stuck in a timeshare that I didnt want I had it taken away from me when I did want it. Ocean Isle Beach, NC.

In Southeast BC Canada, I was at a time-share promo event decades ago (at c.30; I'm 67 now.) It seemed so positive - but still rather moth-&-flame dangerous. I steered clear, thank goodness.

I thought everyone knew that time shares are not an investment, and will cost a lot more than just paying for a vacation every year.

Judging from the insane amount of ads I hear on the radio about them, it sounds like a lot of people aren't happy about thier timeshares.

Timeshares are the biggest scam out there. The government needs to do more to go after this companies. This is the only business where once you sign a contract you are trapped forever.

When someone pushes you to sign that day, you should know that means this is a bad deal.

The first time i heard about time shares, i realized i had common sense. My sister who got sucked into one told me about these places she can “ freely vacation”. When i asked if it was truly free, how come ahe still needs to pay for it now and then. Take note, even when she has not used it for say a year. 😑. I told her if i want to vacation somewhere, i can look for nearby hotels and book the days i will be needing a place to stay. That simple. I pay only for the days i actually use. Common sense. That point system whatever has all the hallmarks of a scam.

I once completed a Hilton timeshare presentation in Vegas, fully signing up knowing the law allows 3 days to back out with only written notification. Of course I wrote myself out the next morning. Also enjoyed the cheap vacation keeping all the trinkets, and got a considerable sign-up bonus on the no-AF Hilton AMEX which I still have.

The entire industry needs to be heavily regulated, if not abolished. The fact this scam has been left to go on for so long is mind boggling to me.

There was a time when almost everyone I knew jumped into a timeshare, my husband and I said no thanks, dont want to share a home. We saw this as a bad investment in the 90’s. So glad we stayed away, instead we bought a lovely condo in a ski area and use it as much as our permanent home. Don’t know which is the permanent home any longer since we use both constantly, only 3 hrs driving between.

well done Ryan, very much enjoyed the final result of this story and glad we could participate!

My family was offered a free tour bus ride around Vegas in 2014 only to find out that it was a ride to a timeshare office. The $40 deposit would not be returned unless you stayed for the entire 3h session. Fortunately, my parents saw the scam for what it was and refused to sign any paperwork! That experience has completely turned me away from timeshares.

Back in the 1990s and 2000s I am almost got into one of these in the Northeast. Thankfully, I never went into it and the company pushing these timeshares to people by 2008 when the financial crisis was going in full mode, went out of business and bankrupt. I am glad a lot is coming out about this. Like the medical industry and insurance industry, real estate industry I heard has a very powerful lobbying group in DC to throw money around and influence regulations which I feel are laxed right now which is why were seeing high prices in everything from homes, to rents, to this and HOAs. I am not blaming just one party, but both parties with a R and D either turning the other way and taking the money, or taking the money and sitting on some of the boards. At least now people are being aware of this and being a bit more informed on the issue and downsides.

I owned a timeshare. It was basically free and came with three extra banked weeks. However, because it was on the Florida coast every year the fees went up do to storm damage repairs. When I looked at the cost of the fees, plane fare, rental car, etc. It cost a couple of thousand just to get to the front door. I was cheaper to go on an all-inclusive vacation to a different location every year than to keep going to the same place in Florida every year. There was no loan on it so I stopped paying the annual fee.

Increased maintenance fees, limited time and places to go and hard to get out of is all I need to know.

I'm not a huge fan of governmental intervention in private business, but yes, laws and regulations are badly needed in this industry because corporate greed is unbelievably high in these companies. The only people that like or love timeshares are those who are able to use it on someone else's dime.

It's 2024 and the timeshare industry is booming. P.T. Barnum nailed it, "there is a sucker born every minute".

All these people falling for timeshares is priceless. I went to a timeshare meeting to get free tickets and then laughed in their face when I said no, got up asked for my free tickets and left.

I always thought that the concept of timeshare was so dumb like I might as well save my money for vacation and get a nice hotel in the meantime than spend all my money on a timeshare where most of the time I'm not even vacationing.

Craziest part of timeshares is you pay interest for the vacation youre gonna take 10 years from now.

These are one of the oldest scams out there. It boggles me how people still get suckered into them. 🤦🏻‍♂️

Interesting mention of the used market, I've noticed recently that most timeshare companies are cracking down on that by including non-transferable “bonuses“ on sign up that are often at least half the total value of what they're providing. Means that what you have left over to sell is worth even less!

Imagine the money you put in a timeshare and invest that money for yourself instead

So sad to see the people affected by these ambiguous contracts. I will never get a timeshare ✋

Joining and making a timeshare reservation shouldn't be any more difficult than making a hotel reservation. Wait a minute..... why not just make a hotel reservation in the area you want to vacation in? Reserve a room for 5 days and just pay for 5 days. Amazing concept! 🤔

My parents bought two different weeks at a timeshare back in '81. Dad is long gone, but Mom still owns one of the units/weeks. It's in Vail Colorado... we used it religiously twice a year. We have traveled all over the world switching out our weeks at Vail for great places. With all of us "kids" in our 50s now, and some of us not living in Colorado anymore, even having just the one week we don't use it. None of us ski anymore and there's really nothing else to do in Vail. I know my mom gets frustrated with not being able to even exchange it anymore. She's 85 and since the pandemic doesn't really much care to travel anyway. I assume we'll just inherit it... unless she ditches the second unit. I think they were decent back in the day... if you were actually going to vacation at the same place... and living in Colorado, it was super easy to get to Vail for a ski week or two.

I purchased a fixed week in the Poconos in 1988 for $9,900. Maintenance has increased from

Bought a time share in Vegas when I was a teen in 2007. They reported to the credit bureau that I didn't pay the maintenance fee of $120.00. When I was getting ready to buy a house in 2015, my loan officer asked, "what did you do in Vegas? Rip off a mini bar and not pay?". Scary part about this is, it's 2024 and the time share is still sending me bills for yearly maintenance fees with threats to report again.

Back in the 90's I worked at a timeshare/hotel hybrid property (my work was hotel side). However, back then, I found out that the sale price formula was simple: market value of the apartment x 4; then, divided by 25 (we operated in 14 day periods) leaving the balance for maintenance/upgrades (which we did). So, quite basically, people were buying 2 weeks at a 400% mark-up PLUS the yearly maintenance fees. We had repeaters for 30 years when this was first started and for them, buying in at less than that 400% later when units became scarcer, they felt it was a decent deal - certainly good enough for them (to each their own); oh, and those old units were part of your estate that could be passed on. I don't think that's done anymore. TBH, it was nice to begin recognizing the same faces year after year. Many even had mini lockers on property for their stuff. That said, the predatory things I heard of the industry was appalling and I was glad that, at least our place, treated the customers/guests with utmost respect and took real care of their properties. There were re-sales (not many) but the property usually bought those back as they could be resold again as it was, and continues to be, a very sought after property.

Never thought of contacting the AGs office with getting ride of a timeshare. Thanks CNBC! I'll be contacting mine this weekend.