Top 40 Timeshare Lies During Sales Presentations
Over the 30 years the timeshare industry has been in existence a set of infamous lies have carved their way through pending timeshare owners. These timeshare lies have developed into videos, stories, books, exit companies, and lawsuits. For most Americans who have been exposed to the timeshare industry they have come to know some of the basic terms.
Lies and Deceit Recorded During Timeshare Sales:
Over the past 9 years of my experience I have complied the most infamous lies and deceit known to date. This list of lies have been categorized and accounted to form the most abusive to slight of hand deception. There is no excuse for timeshare lies and deception to gain a sale. So take note if you are to enter the belly of any timeshare resort for a presentation.
Top 40 Timeshare Lies During Sales Presentations:
Many of the below lies and deception are conducted on a daily basis. IN fact, many timeshare salespeople are trained to use these lies to sell their timeshares. Timeshares are sold with the idea the new owner has an investment. The common lie of a timeshare having value or an increasing value is used in almost every timeshare sale. The timeshare value has been announced by the IRS that timeshares are valueless. In almost every case timeshares are not eligible to be entered into a bankruptcy. This denial of bankruptcy is not shared to the defaulted timeshare owner until its too late.
The Growing List of Top 40 Timeshare Lies:
- They told me that the timeshare was an investment and that it would appreciate like real estate.
- They told me that the timeshare was real estate or that I was purchasing something other than a timeshare (like a vacation plan).
- They told me that the area where I was purchasing would soon be a new development property and that by purchasing now I would obtain the best deal.
- They told me the meeting would last a specific time (i.e., go minutes) but it lasted far longer.
- They told me that a new water park (or theme park or retail development) was being built next to my property, which would increase the value of my timeshare.
- They told me that I could, with their help, rent the timeshare for a profit.
- They told me that I could make money by selling the timeshare later.
- They told me that the company had a buy-back program for the timeshare if I wasn’t satisfied.
- They told me that friends and family could use my timeshare instead of me without additional fees.
- They told me that I would be able to exchange property locations at any time and go anywhere (with or without fees).
- They told me that the maintenance fee would never increase.
- They told me that the maintenance fee would increase only in small increments.
- They told me that I could eliminate maintenance fees with owner referrals.
- They told me to lie about/ or forged my income on a credit application.
- They told me to lie and say that I was a homeowner on my application.
- They lied to me about the prices and terms of membership.
- They told me that I would be attending an update to discuss questions when it was actually a timeshare sales presentation. (Also called a policy change meeting, owner’s update meeting, owner’s dinner, or policy change meeting).
- They told me that if I did not purchase that day the offer would expire.
- I was shown hand-written charts or diagrams to support false rental increases, low maintenance fees, future value, etc.
- They told me that the resort or representatives of the resort would sell previously owned timeshares on my behalf.
- They told me that I could use my points to purchase airfare, cruises, car rentals, and other amenities.
- They told me that I would be assigned a personal account manager-coordinator who turned out to never be available.
- They told me that I had to buy more points because my fixed-week timeshare (Personal Interval Choice or PIC) was converting to a points based program and my week would now be useless.
- They told me that I had missed out on a special offer that had been extended to all owners.
- They told me that I could write off the timeshare interest or the timeshare itself on my taxes.
- They told me that I could refinance my timeshare with my personal bank and get a lower interest rate.
- They told me that I could earn a living using a rental program.
- They told me that the maintenance fees at my specific resort would increase and that I needed to purchase elsewhere and upgrade in order to keep a lower maintenance fee.
- They told me that in order to have reservation power I would need to own a certain level of membership (VIP, Platinum, Presidential Reserve).
- They told me that the point amount I purchased would give me my sales representative’s offer to pay my fees for me in order to get me to sign the contract.
- They told me that I was not enrolled in programs that I really was in order to make a bigger purchase.
- They told me that I could not cancel the contract.
- My contract was not canceled within the legal rescission period even after I turned in the correct cancellation paperwork.
- They told me to wait for a membership package (with identification or membership number) before using my timeshare, thus delaying my possible cancellation.
- They told me that I was buying a timeshare at a resort that does not exist.
- They told me that I was purchasing a timeshare in one location when I was actually purchasing in another location.
- I was subjected to high-pressure sales or felt that I could not leave the presentation without purchasing the timeshare.
- A line of credit was opened in my name without my knowledge.
- They told me that in order to get the price they were offering, I had to write a letter to a fictitious person at their corporate office.
- They said I will never have to upgrade.
The List Keeps Growing:
The list of timeshare lies is forever growing. However, there are a common set of lies that make up the top 40 timeshare lies. Comment if you have more timeshare lies to add.