10 Reasons Timeshares are a Good Deal -Part II

Yesterday The Timeshare Authority offered a rebuttal to a post found on a financial advice blog that claimed timeshares are essentially the worst deal ever. ‘Piling on’ is an expression that describes how critics can jump on the bandwagon against a concept or cause, fueled primarily by the criticisms of others. Some critics of timeshare seem to ‘pile on,’ attacking the concept because others in their field have done so yet never fully exploring what timeshares are all about and how much timeshares have to offer.

If you missed yesterday’s post, (10 Reasons Timeshares are a Good Deal – Part I) we hope you will go back and read it as well as the post below that addresses the final five criticisms of timeshare and our rebuttals:

6. Miss One Year and You’re Better Off Without a Time Share. If you are not going to use a timeshare, don’t buy one. On the other hand, it is hard to say that missing one year of use is the kiss of death either. Many timeshare companies offer you the option to bank your timeshare for use in the future. Another solution to missing a year of timeshare use is to rent your timeshare during the period you won’t be able to use it or to thank someone you know by giving a week’s use to your favorite relative, school teacher, pastor, hardworking employee, or prospective client. There are many ways to benefit from timeshare and they aren’t all wrapped up in whether you personally vacation in it or not.
7. Trading Isn’t Near as Easy as Claimed. Again, this claim is challenging to address as the writer doesn’t say who is making the claims or what those claims are. Each year, thousands of timeshare weeks are exchanged. Timeshare exchange includes in-network exchanges, exchanges through timeshare exchange companies, and even something as simple as swapping a week or a destination with another timeshare owner you know. Timeshare exchange companies come in all sizes from the giants, RCI and Interval International, to dozens of smaller companies, all with different terms and offerings. A timeshare owner may never be able to exchange a January week in a Cape Cod timeshare for the same week in the Caribbean, but there are options for timeshare owners who are willing to learn more about how the timeshare exchange process works best.
8. If You Can’t Pay in Full, It’s a Terrible Deal. If most homeowners paused to look at the amortized cost of home ownership, when financed over 20 or 30 years as is typical with home mortgages, there would probably be a lot fewer people who make the decision to buy a house. One of the excellent benefits of recent regulations in credit card reform is that your monthly statement now shows you very clearly what you are paying when you borrow money at credit card interest rates. Paying in full for anything you buy is almost always the best practice, whether that is for your home, your car, paying off your credit card each month or paying for your timeshare at the time of purchase. But to accurately evaluate the cost of timeshare financing, you have to assess both the purchase price and the financing terms. There are terrible timeshare financing deals, and then there are better ones. Every case is different.
9. Travel Is Not Calculated When Comparisons Are Made. Travel costs do make a difference in the big picture cost of timesharing, which is why it is especially nice that when travel costs are atypically high or your vacation budget is a little smaller than usual, you can exchange timeshare for a destination that is closer to home, keeping your travel costs under control.
10. Hotel Prices Are Increasing (But So Are Time Share Fees).Good advice for anyone who is considering buying timeshare is to research if and how much timeshare fees have increased in the past at the resort where they want to buy. The cost of purchasing many things increases over time but this is not always a decision maker as to whether or not we will buy them. If the cost of buying timeshare or a timeshare resale is a better deal today than the cost of vacationing in a hotel, and both the timeshare and the hotel increase in cost, then the timeshare is still a better deal than the money paid for hotel accommodations.

Timeshares, as a vacation product, are neither inherently good nor bad; they are simply a choice. Yet for many people, timeshares are a choice that translates to years of vacation enjoyment.