One visitor to our site shares his experience with Silverleaf timeshare, and the research she did following the timeshare purchase. Here’s her story:
I bought two units from Silverleaf in 2010. In both sales presentations the salespeople told me the units were an investment I could realize income from, and would be a great business and investment opportunity, and by renting the units out (anytime at any resort they told me) it would be good advertising for Silverleaf and good income for me.
In the first presentation the salesman even told me that they “aren’t timeshares, they’re vacation rentals just like owning a family vacation home”. He also told me I could write the loan interest and rental income off on my taxes(!). These were complete lies, and the high-pressure sales tactics were unbearable and intrusive.
The FTC lists timeshares as securities because of their nature, and I am sure the salespeople are not licensed to sell securities, so sniff-sniff I smell securities fraud. If the timeshare industry’s products (timeshare units) are so great, why do they have to overwhelm and lie to people to sell their product, and why are there literally thousands of furious timeshare owners telling the same stories about being lied to and posting angry videos all over the internet?
If they had told the truth, I would NEVER have made those purchases, and it was the biggest financial loss of my life. What a scam! What flim flam! I’m gathering data and personal experience stories to publish a book about this shameful part of the so-called “vacation industry” and the effect it is having on so many people. May God bless and heal America and the good people of our country shattered by corporate greed!!
Do you agree? Should timeshares be listed as “securities”? Have you also been part of a high pressure timeshare sale? Share your comments below or contact us to share your story on the site.