Buying timeshares can be enticing. The prices may sound too good to be true, and buying one may give you the opportunity to vacation on a budget. Unfortunately, sometimes buying one doesn’t lead to a happy outcome.
Sometimes deceitful salespeople dupe buyers, and they end up getting the short end of the stick. If you want to initiate a timeshare exit, you aren’t alone. According to a study by the University of Central Florida, 85% of timeshare owners regretted their purchase. Some of this regret may be because the interest on timeshare loans is relatively high. They average 13.8 percent, with loan terms typically lasting about 103 months.
If you’re one such owner, you may wonder how to get out of a timeshare purchase. You can explore several courses of action, but hiring a reputable timeshare owner advocate is one of the best options. A reputable timeshare lawyer can provide you with sound legal advice and ensure you don’t contravene the law. Here are some reasons why you should hire a timeshare owner advocate to help you get out of a timeshare deal.
1. Demystify Complex Terms
Timeshare terms such as cancellation and exit may be difficult to understand. Generally, cancellation refers to the grace period after purchasing your timeshare when you can terminate the contract. Meanwhile, an exit involves withdrawing from the timeshare agreement after the cancellation period has elapsed.
Instead of trying to wrap your head around these complex terms and others in your contract, consider hiring a timeshare owner advocate. A reputable timeshare lawyer will clarify the complex terms in your contract.
2. Appropriately Help You Get Rid of the Timeshare
If you’re uncertain about how to get out of a timeshare purchase, you may have decided to scour online for solutions. While some solutions you may have come across are legal, some solutions aren’t. A qualified attorney can help you get rid of your timeshare legally.
Ideally, the attorney should be conversant with your state’s recission laws. In some states, after purchasing a timeshare, during the grace period, you can terminate the contract immediately. While in other states, certain requirements need to be fulfilled before the contract can be terminated. A reputable timeshare lawyer can help you cancel your timeshare during the recission period and even after it has elapsed.
3. Other Options Have Failed to Produce Results
Getting out of a timeshare purchase can be an arduous process. Some companies may outright refuse to allow you to renege on the agreement. However, timeshare contracts can be legally canceled for several reasons, such as dishonest sales practices. If you’re finding trouble canceling your contract or if other solutions have failed to yield results, then you should seek the services of an attorney. A seasoned one can advise you on how to get out of a timeshare purchase legally.
Cancel or Exit Appropriately
Time is of the essence if you’re looking to get rid of your timeshare legally. If you’re struggling with how to get out of a timeshare purchase, seek legal help immediately. Not only will it help you get out of a timeshare purchase legally, but it could save you lots of money too.
At Lonestar, we take immense pride in helping our clients get rid of their timeshares appropriately and amicably. Contact us today to learn more about our timeshare cancellation and timeshare exit strategies.