Timeshares

Botch

https://youtu.be/Bd2bbHoVQSM
 
I knew how rotten the timeshare industry had gotten, but was unfamiliar with the "timeshare exit industry", damn.  Also posting this as a PSA; I didn't realize that if your folks had a timeshare you had limited time to turn down the "inheritance" before you were stuck with it.  
And reading some of the comments below the video on ewetube....   

Foghorn

Thanks for posting.  I have to get SWMBO to watch that.  She has pushed for us to buy one for years.  Back when we had very little money we were able to get free stuff like snorkel trips and helicopter rides for spending 3-4 hours on vacation listening to the sales pitch.  Given our financial situation at the time it was marginally worth it because we couldn't afford those activities otherwise.  We actually signed the contract for one, but went back the next day and canceled the purchase after doing the math in a non-pressured environment. 

We now own a beachfront condo and people sometimes complain about the $525/month HOA/maintenance fee at the condo complex that is used to keep up the grounds, pools, tennis court, etc - but when you do the math on the money they collect for that on a timeshare it is staggering.  It's typically about $700 - $1000 or more per owner per year - and each unit has 52 owners that pay that. 

When they collect $50k per unit per year, they don't put all of that back into the resort... they're making out like bandits. 

A few years ago in Cozumel she made us go listen to a sales pitch at an all-inclusive timeshare resort.  In addition to them charging $30k for the unit and over $1000/year for the maintenance, when you check in to your place they charge you over $100/person per day for the food/drink/kayaks, etc that make up the all-inclusive experience.

Botch

I attended one sales meeting, would get a free 3-day trip to Vegas, on what's-her-name's birthday.  I don't remember it being particularly grueling or long, after running the numbers in my head I realized it wouldn't be a good deal and I turned it down.  Still got the tickets/hotel for Vegas.
Day One:  we landed in Vegas at 11:40 pm; got to the hotel about 1:30.  
Day Two:  What's-her-name's birthday, I let her choose which show we'd see. Riverdance.  Forty guys in tights, tap dancing.  For two hours.  Joy.  
Day Three: Airport, fly back to SLC.  Takeoff: 0530 am.  
 
I will say, though, that one full day in Vegas is about right, for me anyway.  

nolaegghead

I saw that episode.  

The biggest difference between political paradigms is one party calls this glorious capitalism and the other feels the need to pump the brakes because they realize it’s institutionalized scamming.

Legume

My FiL struggled to get rid of several timeshares for years and finally did.  We only heard at the end when he was finally out and relieved. Um, you had timeshares?  Where?  Hawaii, SF, Tahoe, etc. I got rid of them because nobody ever used them!  Um, nobody knew you had them.

Would've been nice to have known and used them once or twice, but better off overall that he's out from under them.