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the girlfriends olds have bought a timeshare in a place in bali, now the deal was quite expensive and the hotels part of a group of 2000 around the world, this deal enables us to stay a week at a time at any of these resorts around the world for $250 a week, does this all sound right? this is using the rental part of the timeshare, what will availability be like in september october next year in europe?€
 
Depending on the facilities (star ratings?) it could be quite a good deal. Especially in Europe where accomadation prices - especially in summer - will rape you. For Asia, I'm sure you could do better.
 

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Generally they are a con. Just a few things to consider, the first the biggest:

* What do you have do pay up front and what could you make investnig this money (eg, if $25k, it wouldn't be hard to make $2k+ investing it).
* How long can you stay there each year.
* Are there "blackout dates" and such.
* How easy to resell?
* Risk of the company going bust?
* Annual maintenance fees and how fixed are they?

If you add up "opportunity cost" of investing the lump sum and any annual fee, you may well find that the number may be (say) $3k for a week's accommodation "anywhere they allow with a whole list of strings attached", money you could spend staying a week in a 4-5 star hotel anywhere you like on the planet.

Another point... if it's a hard sell "you must sign now".... WALK AWAY!
 
Time Share is for suckers
Invest the money
Book your accomodation on Wotif you will be better off minus the red tape.

Do enjoy going to the spiels when travelling tight (backpacking)
Got a free breakfast and spent the day at the pool for going to ones in Orlando and Mexico.
Just pretend you are Canadian and dont buy:thumbsu:

When we worked it out, we kept going back to the pool in Mexico for a few more days:thumbsu:
 
I recently went to one of these things never having come across it before, I had a couple of hours a free on that day and for a few movie vouchers why not?

Although the 'consultant' was very persistent I rebuffed any of their offers at the end of their cheesy presentation with obvious shills in the group.

Before I left though one of their saleswomen asked me to sign a mostly blank piece of paper for having attended. Since I didn't give them any of my card or bank account details I thought nothing of it as I just wanted to get out of there. But now thinking about it, I'm worried about what exactly was in that form.

Should I contact the ombudsman about it in case in case they try to sneakily rope me in somehow?
So far I haven't seen any funny deductions from my banking account nor received any emails informing me of my newly acquired timeshares.
 
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randyzany said:
I recently went to one of these things never having come across it before, I had a couple of hours a free on that day and for a few movie vouchers why not?

Although the 'consultant' was very persistent I rebuffed any of their offers at the end of their cheesy presentation with obvious shills in the group.

Before I left though one of their saleswomen asked me to sign a mostly blank piece of paper for having attended. Since I didn't give them any of my card or bank account details I thought nothing of it as I just wanted to get out of there. But now thinking about it, I'm worried about what exactly was in that form.

Should I contact the ombudsman about it in case in case they try to sneakily rope me in somehow?
So far I haven't seen any funny deductions from my banking account nor received any emails informing me of my newly acquired timeshares.
Click to expand...
just enjoy your holidays
 
Hope you're joking. :huh:

On a serious note I've gone through this website https://help.consumeraction.org.au/timeshare-schemes/


and they gave me none of the documentation that legally binds me to their scam.

A Timeshare company must provide you with certain documents at the point of sale. Their failure to do so may give you the right to cancel the Timeshare contract.

Below is a list of the main documents that you should be provided upon entering a timeshare scheme:

  • Product Disclosure Statement (“PDS”). A PDS is a very important document that sets out some of the terms and conditions of the Timeshare contract and other important information about the product such as: its features, fees that apply, the benefits and risks of purchasing the product, any commissions that are payable. The PDS may look like a glossy advertising brochure for the Timeshare company, but it contains important terms and conditions relating to your entry into the Timeshare contract.
  • A copy of the Timeshare contract
  • A copy of the Timeshare application
  • A copy of any related credit application together with a copy of the credit contract
  • A Cooling Off Statement: which alerts you to your right to a cooling off period and must be set out on a separate document in a form approved by ASIC (see below).
  • A Statement of Advice (“SOA”). A SOA should be provided if the sales staff have told you that they think the Timeshare is a good deal for you. They should not do this unless they have talked to you about your financial position and your goals and objectives. The SOA should explain why buying the Timeshare fits with your goals and objectives.
Click to expand...


I'll admit that I had a bit of a brain fart signing any piece of paper they put in front me (looked innocuous enough) but I was bit flustered by then and just wanted to get out.
 
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randyzany said:
Hope you're joking. :huh:

On a serious note I've gone through this website https://help.consumeraction.org.au/timeshare-schemes/


and they gave me none of the documentation that legally binds me to their scam.




I'll admit that I had a bit of a brain fart signing any piece of paper they put in front me (looked innocuous enough) but I was bit flustered by then and just wanted to get out.
Click to expand...
What country ?
 
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