Why Are People Dumping Their Timeshares?

07/11/2022

timeshare exit

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Many timeshare owners do not consider it necessary to terminate a timeshare contract when they sign one. They anticipate their time away and are thrilled about their new vacation villa or resort. People find out that they no longer need a timeshare and tend to dump them in secondary marketplaces. More than 4.4 million people each year sell their timeshares on secondary marketplaces. Although the first thing people think to do is sell their timeshare, it’s actually more beneficial to find a professional to help you exit it. This article aims to give some reasons why timeshare dumping occurs and how you can find an exit strategy that works.

Increase in Maintenance Costs

The cost of maintaining a timeshare contract is a major reason for most timeshare exits. The annual maintenance cost information is written in small print in most timeshare contracts and often overlooked by new customers. Hence the shock and surprise when timeshare companies raise their maintenance costs, which are necessary for the upkeep of resorts. This leads many to look for timeshare exits.

Lack of Knowledge about Contract Length

Some companies sell timeshare contracts to vulnerable people unaware of the details of a timeshare contract. A timeshare contract is a lifetime commitment as one must continue making payments under a contract until one passes away. When this veil is lifted from most people, and the financial implications are discovered, they always move to exit their timeshare agreement.

Doesn’t Fit Your Needs Anymore

People tend to lose interest in a particular resort after repeatedly visiting for a few years and want to try a new one, but they find out they are stuck in a timeshare contract. For example, your family dynamics have changed, and your 20-year-old children are no longer interested in taking a trip to the resort. The timeshare no longer suits your family’s needs, so you try for a timeshare exit.

Resale Value

Most timeshares are fairly simple to purchase but very challenging to sell. Owners who want a timeshare exit find it difficult to sell them as they’d have to get a buyer who wants that particular resort at that particular time of the year. Most end up selling it to vendors at a hugely discounted price for a loss. This can all be avoided by simply working with a timeshare exit expert. They will be able to provide you with a strategy that will benefit you.

If you’re thinking about selling your timeshare, stop and give us a call today. We can help you get out of your contract with one of the best timeshare exit strategies. We look forward to assisting you!

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