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Dave Ramsey

A can't-win timeshare deal

Question: Jamie's husband grandmother wants to give them her timeshare. Dave lists all the ways ... ALL the ways ... why you can't give the things away.

Dave Ramsey's advice: She's sweet, but she's wrong. Give it to someone else, because it has absolutely no value. There is no market for timeshares. Guess what comes with the timeshare? The annual maintenance fee! So she's giving you a bill. If the bill is $250, all the timeshare organization has to do is raise the fee to $1,000, then where are you? Tell her to give it to someone else.

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Comments
So, I take it that Dave is totally against buying a timeshare.

My parents spent $88,000 over 19 years to get VIP Platinum membership in Fairfield Resorts. They and their 4 daughters have enjoyed these timeshare vacations. However, my mother passed away 3 years ago. I'm trying to learn how to manage all these timeshares. Dad is payig $8000 a year in maintenance fees and these go up every year. Dad is 78 years old. As much as we enjoy these timeshares. None of us have the finances to pay this kind of money each year for the maintenance fees. What will we do when Dad passes away? What should we do? what do we do now? any advice?
# Posted by Brenda | 8/13/08 9:12 PM
Advertise the timeshare on Ebay starting at ZERO
bid with NO RESERVE! In the body, mention
write to me and it is free, just take over
Maintenance fees of $8000 per year. Or do the same
but divide it into smaller point packages!
# Posted by deadend Bill | 8/28/08 3:52 PM
I don't know about other timeshares, but there is definitely a market for disney vacation club. I can "rent" out 1/3 of my points every year and the rest of them I can use for free. It did take about 9 years to break even (more than the 5-6 years their ads say), but since we always visit disney and want the nicer rooms, it's been a good deal for us and will continue to be. We also purchased them used, rather than through Disney.
# Posted by Disney Fan | 10/2/08 12:37 PM
We pay just $400 maintenance each year for a week in a very nice timeshare. Parents gave it to us. They no longer wanted to pay the fee. We enjoy it and we spend way less than a hotel and stay in a unit with 2 bedrooms and a kitchen. Being we can cook some of our own meals we don't eat out as much on our vacation and save money on meals too. With traveling with kids it works out very nice for us. I wouldn't pay $10,000 to buy in intially, but when you get it for free and like to travel its a good deal.
# Posted by sanlu | 10/7/08 10:26 AM
www.timesharesale.com Try selling it first. find out what your timeshares are worth at todays prices & then cut them a "deal" :-) the Timeshare Store has a great reputation. I do believe a lot o realtors are trained to sell timeshares as well. May want to check with some locally? good luck!
# Posted by Becky | 10/7/08 6:50 PM
Donate it! We just recently donanted our World Mark timeshare at absolutely no cost to us. We found the link on Dave's web site. Here is the website: www.donateforacause.org I will not guarentee that they can do your specific time share, as some they can't, but its worth a shot. Very easy process. Check it out!
# Posted by Teri | 10/13/08 12:44 PM
How can we get out of our time share?
Thank you for your help,
Kathy
# Posted by Kathy | 10/15/08 11:33 PM
I got suckered into the timeshare deal too.
I owe about 4,000 and cant sell it to save
my life. Timeshare selling agencies will
advertise it for 600/800 dollars without
results. So, how do I get rid of this mistake?
# Posted by Jeff | 10/31/08 2:08 PM
Bluegreen is a rip-off, do not buy from them as we were so stupid to do. After a high pressure salesman keep us at his desk for 4+ hours we were just worn down after offer after offer and the price was going down with each offer, finally we got to the real special one for 4000 points every other year but we were not informed about the maintenance fees every year and the vacation club dues and the other fees that they tack on. We just do not know how to get out of this contract. Could someone please give me some advice, I have looked up some people on the internet that says they can get you out, but are they telling the truth???? Has anyone contacted The Owners Advocate, I have and they sound as if they can help me, but are they telling me the truth?
# Posted by BJ | 11/17/08 3:26 PM
I failed to tell you in the above post the we we sold the $59.00 trip to Branson, MO by the Bass Pro Shop in Columbia, MO. Bass Pro Shop is the owner of Big Cedar Lodge or Big Cedar Wilderness Club at 2746A 51 Even, Ridgedale, MO. We thought we would be staying at the Big Cedar Lodge but NO, it was a hotel in Branson. I should hzve walked out right then!
# Posted by BJ | 11/17/08 3:37 PM