There are about as many reasons to exit a timeshare as there are people attempting to do so. Then, here are instead just three of the most prominent reasons why it is worth seeking to legally exit your timeshare contract, and what you stand to save by doing so.
Sever The Bonds of Annual Fees
As reported via the Telegraph Newspaper, and just about every other newspaper in recent years, one of the major ‘cons’ (no pun intended) associated with timesharing and suffered by timeshare owners has proven to be annual fees.
Timeshares were originally (and this is only now beginning to be challenged) sold as lifelong contracts. They were and continue to be sold as well with the proviso that a buyer accepts responsibility for paying annual fees as part of their timeshare contract. Timeshare fees are annually charged and are said to cover the costs of maintaining, repairing and up keeping a timeshare property and / or the resort on which it is located.
As millions of current timeshare owners were sold their timeshare as an ‘investment’ and deceived into believing that owning a timeshare would save and even make them money potentially, the annual fees they agreed to pay at the time seemed reasonable. Some timeshare buyers were also unaware of just how much the fees would cost them every year or grow to cost them in time. The fact is, many people who fall into both categories are now paying more than ever to upkeep a timeshare property and potentially one they no longer want or can afford to even make use of. Then, one of the most cited reasons for exiting a timeshare is in 2016 to escape the shackles of annual fees.
If You Were Mis-sold A Timeshare
Timeshare and mis-selling are two terms which in 2016 seem to go hand-in-hand. To reiterate, mis-selling within the timeshare industry was once that rife. In fact, even today is continues to be a problem. This is why the UK Government has in recent years introduced the safeguard of a 14 day cooling off period to protect innocent buyers from being deceived or pressured into purchasing a timeshare.
You might also like:
You can learn more about the laws surrounding timesharing and the 2010 directive that saw the most recent legal improvements regarding timesharing via the Gov.UK website. In the meantime and for more general information relating to timeshare mis-selling and whether you have been mis-sold and might consequently have grounds for a claim and to exit your contract, give the 1 Minute Guide to Timeshare Claims featured on the Let’s Save Money website a read.
Regain Control Over How & Where You Holiday
Whatever the reasons many give for being so desperate to escape their timeshare, one of the reoccurring desires is to regain control and be free of the all too often overbearing financial burden of paying to maintain a timeshare that is no longer wanted.
Suffice to say, in 2016 timesharing appeals to few people, so few in fact that there are an estimate 400 people who wish to exit their timeshare agreement for every 1 person looking to buy into a timesharing in 2016.
Then, if you are one of the 400, don’t just hold out in the hope of selling your timeshare; rather, head over to the Timeshare Consumer Association website and get reading Timeshare Exits – Your Rights.