John Oliver recently skewered the vacation industry in his hit show Last Week Tonight, highlighting how timeshare scams prey on people with fixed incomes who want to take a relaxing trip once or twice a year. He also mentioned that consumers should always research a company or product before investing. This is especially true with timeshares, which can be a difficult and costly investment to get out of. Unfortunately, many consumers are finding out the hard way that they should have done their research before they purchased a timeshare.
According to a recent report by Timeshare Consumer Advocates (TCA), there has been an increase in timeshare exit companies taking advantage of consumers and promising them they can get rid of their timeshares. Many of these companies are charging thousands of dollars for their services and failing to deliver. In some cases, consumers are even getting slapped with a lawsuit. The TCA report also states that if you have used a timeshare exit company, you should file a complaint with the Better Business Bureau.
Timeshares are not a good fit for everyone, but they can be an excellent choice for families on tight budgets or those who prefer to visit the same destination year after year. Timeshares can be used to beat travel inflation, which has skyrocketed in recent years. The soaring costs of flights, hotels, and gas make it more important than ever to find creative ways to save money on vacations.
One of the best ways to do this is by transferring a timeshare to a family member. This is a great option for those with adult children who may be looking to take over the annual fees from their parents. If you are thinking about a timeshare transfer, it is essential to consult with a licensed attorney.
Another way to cut down on expenses is by using your timeshare for special occasions, such as weddings, graduations, or birthdays. This can help save on the cost of a hotel room and allow you to have a luxurious stay at a fraction of the price.
For more information on how to save money on vacations, visit TUG. Our experts have the knowledge and experience necessary to help you navigate the world of timeshares. Contact us today to get started.