Do you know that timeshare scams had been considered one of 2017’s top frauds? Yes, the Federal Trade Commission said so. Getting a slice of heaven and vacation opportunities can be a tad exciting. Add to that freebies and free getaway promises that come with just a short meet-up with some smooth-talking sales specialist posing as a travel counselor.
Yeah, timeshare scams are for real—and learning, quite too late. If you don’t want to go right under those sleazy sales tactics, following these tips on avoiding timeshare scams can come handy.
- Don’t give in to “vacation mode” emotions. People can let their guard down when on vacation. Of course, this totally makes sense as one can easily get doe eyed over majestic views and the idea of not thinking about work and obligations, but just fun and enjoyment. However, being so “in the moment” can also make vacationers easy target for scammers’ persuasive sales pitch. So, be wary when someone offers free cocktails or even a dinner spread. Sales people never give freebies without getting 10x or more in return.
- Don’t give in to financial investment talks. If you’re told that timeshare is a financial investment, run as fast as you can. That’s definitely a scam coming your way. Timeshare doesn’t make your money grow. Its value doesn’t appreciate over time. It’s a vacation investment or should we say in layman’s term, an entity you buy to be used for enjoyment. Be reminded that timeshare resales can also be too taxing and quite frankly, returns come out lower than initial investment.
- Always read the fine print. This is no rocket science and one that many effortlessly toss into a trash bin—until disaster strikes. Not just in timeshare, many fails in the reading-the-fine-print category due to utter carelessness. When it comes to timeshare, always take time to scrutinize every period, comma and what-have-you. A sleazy salesperson can promise the whole universe to ensnare your trust, often talking about easy swap of week allotment or huge timeshare rentals, and so on. If these don’t show in the contract—turn your back like a pro and never look back. You may want to hover closer to “maintenance fees” as that’s always the clincher.
- Decide on another day. Sleep on it! A day of cooling-off period can actually save you from signing for a sugar-coated scam. A sales presentation is designed to get you to buy. In most sales talks on timeshare, it is common for scammers to tell you that special offer and other blah on freebies are only for that particular day. Regardless if it’s true or not, keep in mind that they’re after you and not the other way around. Don’t sign a five-figure amount out of impulse.
- Scrutinize the timeshare management company. It’s the digital era and anything can be researched online. The world of information is actually right at your fingertips. Ask people you know over Viber. Send a tweet or write a post in Facebook or Twitter asking about information. Or you may even message the BBB and other related agencies. If you can’t find a trace of such timeshare management company then, you’re in for a horrific scam.
No fraud can happen if you will not succumb to fast-talking sales creep poaching you for thousands of dollars’ worth of travel product you have no inkling of. That’s a fact. However, it’s also no secret that one can easily fall prey to sales reps with gifted tongues. With these tips on avoiding timeshare scams though, you can finally rest in your laurels knowing that the timeshare you get is one that you’ll enjoy without the headaches.