Most timeshare units are sold at a presentation, and even more often, there is a prize or incentive offered just for attending the timeshare presentation. The most common incentives include: discount hotel rooms, weekend getaway packages, show/event tickets, and prizes such as automobiles and boats. Being aware of these incentives, the high pressure sales tactics used by timeshare salespeople, and other tricks of the trade are important when considering purchasing timeshare. If you are interested in timeshare, the following 7 tips will help you to avoid being scammed into purchasing timeshare:
- Do not ever buy timeshare on the spot – take time to sleep on it and decide if it is a good investment for your particular needs.
- Read the “fine print” on prizes – if you are offered a prize for attending a presentation, be sure to read between the lines to find out exactly what you will be getting; DO NOT pay for anything.
- Have the contract reviewed – read the contract yourself and have it reviewed by an attorney. If you were promised something by a salesperson that is not included in the contract, do not sign the contract.
- If you feel pressured, leave – you have every right to leave whenever you want. Simply stand up, say “thanks, but no thanks” and head for the exit; do not give them a chance to persuade you or argue with you.
- Ask for references – get in contact with people who have purchased the same timeshare; make sure you are put in touch with happy and unhappy owners.
- Never use a 1-900 number to book a trip – this is a scam, no legitimate travel companies make arrangements using 1-900 numbers.
- Do research and educate yourself – treat purchasing timeshare the same way you would a real estate investment.