Buy Timeshare Resales: Another Financial Expert Advises, Don’t Buy New

We’ve run into this list before. So it is no surprise that yesterday on “The Early Show“, when CBS News Business and Economic Correspondent Rebecca Jarvis made a list of items that are better to buy new and items that are best bought used, timeshare made the list.

Care to guess which side of the list—new or used—timeshare falls under? Right, that’s easy. Along with jewelry, office furniture, DVDs, books, and sports equipment, you will find timeshares, all identified as items that are you are smarter to purchase used rather than new.

But the article makes a critical point: buying timeshare (new or as a resale) isn’t right for everyone. However, you may be like millions of timeshare owners worldwide, for whom timeshare is an excellent way to enjoy a life time of vacations. As CBS News explains, “On average, (by buying timeshare resales) you’ll save 67 percent on the price for a comparable new timeshare.”

Besides buying timeshare resale, the news story also offers another suggestion, “If you’re new to timeshare ownership, give it a test run first by renting short term.” This too is sound advice. Renting timeshare helps you understand more about the lifestyle and the opportunities of timesharing. Renting timeshare is a great way to experience a particular resort firsthand, sizing it up for service, cleanliness, and amenities before you buy. And when you rent timeshare, you often have an excellent opportunity to talk to other vacationers who are current owners at the resort, hearing from them the positives and any negatives about their experience as timeshare owners.