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Should I Cancel My Timeshare? 5 Signs it’s Time to Cancel The Contract

08/26/2020

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Having you been looking at your finances and thinking “should I cancel my timeshare?”

If so, it might be time to finally get to it. Canceling a timeshare might take some time and there may be aggressive sales tactics to get through. You want to start as soon as possible before you lose motivation. 

If you’re still on the fence, we’re here to help make your decision easier. Keep reading to learn a few indications that can show that you’re ready to leave a timeshare behind.

1. You Rushed the Decision

This is a common problem amongst timeshare owners. 

Timeshare sales are aggressive. The salespeople involved use tricky sales tactics in order to get you to buy quickly. This might make a bad idea seem like a good one and you won’t be given a chance to stop to consider if it’s what you really want.

This leaves you with a problem later. Timeshares are difficult to cancel and that’s for good reason. The companies know that people are going to change their minds.

When you leave the temporary daze of the opportunity for a vacation home (even one that you have to share with others) you’ll read the terms of the contract and realize that it might not be for you.

How will you afford it? When will you have time for it? What’s all of this extra information in the fine print?

Rushed decisions are rarely good decisions. Don’t feel bad for realizing later that this wasn’t the right choice for you. 

2. You Never Use It

When you sign up for a timeshare you’ll probably be thinking about how awesome it’s going to be. You’re going to spend all of this time with your friends and family without the commitment of a full-time vacation house or the struggles of booking hotel rooms or Airbnb houses.

As time passes, though, life gets ahead of you. You and your family are busy with work, school, and other responsibilities. There’s no time for a vacation. Sometimes travel is even limited and your timeshare sits vacant due to restrictions. 

What’s the point of paying for a timeshare that you’re not getting any use out of? 

Most people don’t go on yearly vacations. This makes timeshares inconvenient for many (if not most) of the people who invest in one. Don’t continue wasting money on something that you’re not going to use. A timeshare cancellation frees up your money, time, and mind. 

Next time you want to take a trip, go somewhere else. You’ll save money in the long run. 

3. You Can’t Afford It

When the idea of a timeshare is first brought to your attention, you might be positive that it can fit into your budget. Not only that but it’s actually a good financial decision! Why not invest?

Things change, though, and you may come to realize that this isn’t as affordable as you thought it was. 

A timeshare can involve fees and upgrades that you weren’t aware of before you signed the paperwork. Maybe they rushed you through it. Maybe you, like many people, didn’t read the fine print.

Maybe they revised the terms and you simply clicked “I agree” instead of stopping to read what was being adjusted. We won’t judge you; this is a predatory practice.

When you’re looking into your finances, you may discover that it’s time to get rid of expenses that you no longer need. A timeshare is a big expense and it’s ever-growing. You don’t need a vacation and this is an obvious place to cut down on your spending. 

Explaining this to the people who sold it to you isn’t always that easy. It’s helpful to get someone else on your team to help you cancel or transfer your timeshare easily and legally. It will cost you money upfront but it will save you even more money over time.

4. You’re Moving

Did you buy a timeshare that’s within driving distance, or maybe a short flight? This place is great for an easy and accessible trip, right?

What about when it’s time to move?

This timeshare can become less appealing when you’re no longer able to access it affordably. What’s the point of a timeshare if it’s costing you an arm and a leg just to get to it? 

When you move across the country (or even to a different country altogether) you have no need for the timeshare any longer. It’s like canceling a gym membership that you’ll no longer be in range for.

Unfortunately, it’s just as difficult as canceling the gym membership as well. 

5. You Just Don’t Feel Good About It

At the end of the day, you don’t need a good reason to cancel your timeshare. If you don’t feel good about the purchase any longer, it’s time to get rid of it. Save yourself some money and move on to new ventures. 

You may recognize the predatory sales practices after you’ve already bought it. Maybe you’ll realize that you don’t even want to take these trips or that the timeshare isn’t a good deal. Once the rose-colored glasses come off it’s easier to see when you’ve made a poor decision. 

While the timeshare company won’t accept this as an answer that doesn’t mean that you’re stuck in the timeshare. There are ways to get out even if your reasoning “isn’t strong enough” for a cancellation. 

“Can I Cancel My Timeshare?” Yes!

If you’ve been looking through Google searches for things like “cancel my timeshare” or “timeshare cancellation”, you probably already know the answer to whether or not it’s time to let the timeshare go.

If you’re ready to start the cancellation process, we want to help. Visit our site for a consultation so that we can figure out how to help you free yourself from your timeshare.

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