Timeshare Sob Story - Bought A Timeshare And Wished I Had Not

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My Timeshare Sob Story

It can be very stressful, buying something that in your heart you know you did not really want.

Before the UK had the Timeshare Act, I was duped into buying a condo in London. A letter came addressed to me, inviting me to a presentation in which I could win a holiday in the U.S., or a lesser prize.

As I had nothing to do that day, I bought a return fare to London from my home 24 miles away.

I had expected to have a 20 minute tour, grab my prize, get something to eat, and spend the rest of the day in the city. First mistake = assumption.

I arrived. In all I was there 5 hours during which time they filled my coffee cup several times. I was desparately hungry and they found me a biscuit!

They got me to sign forms, getting me to countersign statements I barely agreed with, such as "Would you like to have luxury holidays?" "Is one hundred and twenty pounds for a week of West-end of London accommodation good value for money?" and so on and so forth. I agreed with all manner of things they had suggested to me. After all, I was starving and I wanted my gift.

Near the end of the 5 hours, the prices started to be revealed. Then credit agreements. They had me convinced that rich US citizens would pay to rent it from me. It would be so much cheaper than hotels in London's West End. But, I thought I had them. I didn't have a charge card, a cheque book or anything else. I wanted the prize gift.

Unbelievably, a con- versation took place in which a lesser salesman was told by a higher salesman to come back to my house to get the credit card. A twenty pound note was passed to the lesser salesman. The salesrep and I taxied to Euston station, travelled by rail, and taxied to my house. I wanted to turn around and say "thanks for the lift home", but I couldn't. As soon as he was in the door, he asked for my credit card and phoned the number through. He left. I phoned the credit card company. I asked them to cancel. That wasn't possible. As the evening and night went on, I became ill. Very ill. What the hell had I done? My committment to timeshare was complete. I had purchased on credit one week, sleep 4, apartment every other year for the next 30 years. And a 4,500 pound loan to repay.

Next morning, a huge bunch of flowers arrived. A huge bunch. "Congratulations" it read. Oh my. Ill.

The first year of use came along. I asked the developers to rent it out for me, after all that was their key selling point and they had said they ran that particular service. Three weeks after the week had passed by, I enquired to find out where the rental money was. They told me that they had been unable to rent it out. So I lost my own use of the flat, paid in advance the maintenance charge which I could not recoup, and even lost my opportunity to exchange via my "free" RCI membership which the resort had given me.

I did sell it. At a loss. I checked around on the resale prices. I even discovered that there was an elderly pair of ladies willing to sell a similar week for 1,000 pounds. I actually contacted the resort to find out who owned the alternate year to mine. As it turned out, they were interested, at 3,500 pounds. I considered myself VERY lucky to get out so easily.

Pressure selling is now outlawed. And in the UK, buyers have up to 10 days to cancel any arrangements made to purchase a timeshare. So only people who want timeshare end up with it. That has to be better for all concerned.

©2000-2003 A D Winter

Were you ever sorry you bought?