After thirteen years of serving the consumer interest, and advocating for timeshare buyers, we have heard some of the most horrific stories about high-pressure predatory timeshare sales tactics used in the timeshare sales industry. Here are just a few examples of how high pressure sales are used in the timeshare industry against unsuspecting consumers.
A Limited Time Offer
This is one of the most popular timeshare sales tactics available. While gathering prospects in a room, and providing them with free snacks, a meal or beverages, the timeshare sales team makes their presentation. Rather than allow you to leave the room and reconsider, or carefully weigh your options with time, the pressure is on to have you sign up right away. Why? Because if you leave the room and exit the dazzling fantasy that they have created for you, chances are higher than 50% that you will walk away without purchasing.
Applying a limited time offer to a purchase that can run from $6,000 to more than $50,000 is unethical. Nonetheless, timeshare sales teams are trained to make sure that you are incentivized to buy. If you change your mind, it will be more expensive tomorrow or next week. That pressure, and the threat of paying more for something you are interested in is called a F.O.M.O. tactic (Fear of Missing Out), and it’s a deeply psychological play for a sale. And most of the time, it works, but it also accounts for a very high number and cases of ‘buyers regret’ in the timeshare industry.
Gift Certificates or Free Tours as a Signing Bonus
You aren’t actually going to leave the timeshare presentation room before the sales team is done, are you? Timeshare prospects are given powerful incentives to attend the developer’s presentation meeting, but even more effective incentives are provided to stay until the very end. They can’t make money unless they close the sale. To that effect, many timeshare sales teams offer a free spa, a luxury tour, or a number of gift certificates that are ‘awarded’ to attendees. We know a free day of parasailing sounds amazing, but it is worth $2,500 to more than $6,000 per year in loan payments, interest costs and added fees? For fifty or almost one-hundred years? The best things in life are free, but some freebies end up costing you.
It’s a Gift You Can Give to Your Kids
There are two ways to look at the prospect of passing your timeshare down to your children. First, that your kids will absolutely love being able to enjoy the allotted time at the vacation resort, or swap their time for other fun vacations around the world. Of course that sounds amazing to parents and grandparents! Who wouldn’t love that?
The second way to look at the proposition of your children inheriting your timeshare, is the 100% probability of them inheriting the loan, or at the very least the burden of annual membership fees, monthly maintenance fees, and the financial liability that goes with having a timeshare contract on your personal credit. Few children agree to inheriting their parent’s timeshare, and they are not required to by law. It can be a debt sentence. Until you have been through a high-pressure sales experience, it’s difficult to prepare yourself or understand the level of training that the sales ‘professionals’ go through, to close a sale with you. A timeshare sale (with few exceptions) is not made for the long-term satisfaction of the buyer; it’s made to close a sale quickly, commit your family to an ongoing expense, and move on to the next prospect.
At Aconsumercredit™ we offer compassionate, real advice and support for individuals who have been victimized by timeshare sales organizations and their predatory timeshare sales practices. Call us to learn more about our team of legal professionals and counselors, who can help you exit your timeshare obligation for good.