Many timeshare sales presentations are the classic bait and switch scam. Frequently, timeshare companies will bait prospective owners into attending presentations with the promise of free or discounted tickets to attractions, free meals, or other promotional items. This is known as bribery. Their number one goal is to get you into the door.
Once you are in the door, the timeshare companies often proceed to exhaust you with lengthy day long presentations on why becoming a timeshare owner is the next best thing since sliced bread. These presentations are designed to psychologically trick the unlucky souls who are forced to sit through them into making potentially life altering financial decisions.
The timeshare company salesmen often talk about how owning a timeshare will allow you to travel the world affordably and take more vacations. Often times, this is simply false because of the long wait time to book a trip.
Additionally, the salesmen are also trained to position timeshare as a future investment that will put money into your pocket through rental fees or additional income. But unfortunately, most soon find that that couldn’t be further from the truth.
Timeshare salesmen often realize that the only way to sell timeshare is to lie. Even if it means misleading honest, hard working people like yourself. You might wonder, “How is it legal to falsely advertise, lie, and mistreat customers?” And the answer, of course, is in your contract.
Here is an example of what you might find in your timeshare contract. Many will have a clause that reads something like this:
This agreement supersedes any previous understandings and agreements and between Buyer and Seller, and together with the Membership Documents, represents the entire agreement between Buyer and Seller. No previous representations or inducements not included in this agreement shall be of any force or effect and Buyer acknowledges that Buyer is not relying on representations other than those included in this agreement and the memberships documents.
With this one contractual provision, the timeshare salesman are allowed to say whatever they need to say to push even the smartest people to purchase these timeshares. And they are given massive incentives and commissions by the timeshare companies to do so. Simply put, all they care about is getting your money.
They are relying on the fact that most people are so exhausted by the end of the presentation that they don’t read the contract fully and aren’t able to cancel before the rescission period. This leads to many vacationers arriving home to find they’ve been scammed with little to no recourse, hurt pride, shame, and a huge financial debt and obligation that’s been added to their plate.
In our Ebook, Ultimate Guide to Timeshare Cancellation, we go over the ways to cancel your timeshare and how Wesley Financial Group, LLC, can help you. If you would like to read more, download our Ebook HERE.
If you are ready to move forward with your timeshare cancellation, please reach out to us today!