PB explains how the economics just don't work
Westgate Timeshare Resort Issues
Date of Incident: 9/7/1998
I just came across your website. My wife and I both had similar experiences to you and I would like to know if you would like further details from me.
Unfortunately, I am not in the fortunate position of NOT having purchased the timeshare - although I had similar concerns to you.
I will happily send you extensive details of what we were told and what I worked out the true cost of westgate timeshare ownership to be, if you are interested.
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I would be happy for you to post up the information. My main concern while we were there, much like you, was that we had no opportunity to work out true costs, and make comparisons against other companies.
Just as an example - when I got back home, O checked out the net and found that people were selling their timeshare villas (in Westgate) for about $5,000. That's less than half-price! So, when they tell you that it's a sound investment, that it's value for money, that it is cheaper than hotel accommodation, that it is the best price available.... it's all untrue.
More worrying (for me, anyway) is the way they target foreign visitors. We have no idea about the laws pertaining to the these things in the USA... it was only because I checked the paperwork (lots of paperwork, by the way!) when I got home. We were rushed through the system and did not have time to check out all the small print while we were there. Luckily, the Florida Laws regarding such sales allow you to cancel the agreement ten days after signing, or ten days after receiving notification of a done-deal.
People should know about this, too - Westgate make no customer satisfaction guarantees or inform you of your rights. I suppose it's too much to expect them to, but I'm not sure how many people take the time to check the whole thing out once they've signed. It can be a very costly mistake.
I'm writing to a number of people here, and once I've written out the whole thing properly, I'll send you a copy including the spreadsheet that shows that one would need to own the property for over 20 years and take 2 latebreaks a year before one broke even on the investment - and that doesn't include the cost of borrowing, or the cost of flights. Most people will:
1) Get cheaper package deals including flight and accommodation
2) Not be able to take 2 holidays a year for the next 20 years
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