To those who own a timeshare, it’s no secret that timeshare companies employ aggressive tactics to attract new buyers and convince current owners to upgrade. Purchasing a timeshare upgrade can feel like getting unnecessary services at an auto shop, such as replacing air filters and changing tires when all you wanted was a simple oil change. If you’re feeling overwhelmed by the constant pressure from your timeshare developer to upgrade, you’re not alone. In this guide, we’ll uncover the tactics timeshare companies use to persuade you to upgrade and why it’s important to resist their sales pitches. By learning these tactics, you can avoid falling prey to a timeshare upgrade scam and begin exploring ways to break free from your timeshare.
Is a Timeshare Upgrade Really Necessary?
Recall the moment when you were convinced to purchase a timeshare, probably by the alluring images of happy vacationers in exotic locations and the sales pitch that emphasized convenience and luxury. However, why are you now being pushed to upgrade your initial purchase? Is it really necessary?
Although your timeshare may lose value over time and require updating, maintenance fees and special assessments are intended to cover these costs. Therefore, upgrading your timeshare is unnecessary and your timeshare company should not coerce you into a new membership that you have no interest in.
Unfortunately, many timeshare owners are pressured into upgrading, with promises of a better experience or lower maintenance fees. However, these are often just tactics used to sell you on the upgrade, which may actually lead to increased costs.
Be aware of the upgrade tactics that timeshare companies use and do not let them pressure you into an unnecessary and potentially costly upgrade.
The Membership Upgrade That Becomes Two Timeshares
The merging of timeshare companies has often resulted in timeshare owners being coerced into upgrading their memberships. A notable instance is the merger between Hilton Grand Vacations and Diamond Resorts. The former is a prestigious timeshare company with properties worldwide, while the latter is a more affordable provider that was acquired by HGV in 2021. This merger led to the creation of a new type of membership called HGV Max, which promises to offer an improved vacation experience.
HGV is renowned for having several membership options, such as Hilton Grand Vacation Club and Hilton Grand Vacations Elite, but HGV Max is different. It enables members to stay at both Diamond and Hilton Grand Vacation timeshare properties. Although timeshare mergers can mean more vacation options, they can also result in higher costs. Thus, it is crucial to know the terms and conditions and the fees involved before considering an upgrade.
Some developers may perceive timeshare upgrades as an opportunity to convince owners to purchase an additional timeshare. Unfortunately, many timeshare owners end up falling for this ploy. Sales representatives from various companies may convince owners that upgrading their membership will replace their current property, but this may result in owners acquiring a second timeshare and being responsible for two rounds of maintenance fees.
Equity Discounts and Lower Maintenance Fees
Timeshare developers often use the tactic of promising that the equity you have in your current timeshare will roll over to convince you to upgrade. However, this is not a genuine offer, and it is important to understand why. The reality is that the equity you have in your current timeshare is not like real estate equity, and it cannot be used to offset the cost of a more expensive timeshare. Timeshare companies use this as a ploy to get you to pay more money for an upgraded membership that may not be worth the additional cost. In fact, you may even be required to pay additional upfront fees to upgrade. Additionally, developers may promise lower maintenance fees with an upgraded membership, but this is often not the case. You may still be responsible for paying the same amount of fees, if not more, on top of the cost of the upgraded timeshare. It is important to be aware of these tactics so that you do not fall victim to a timeshare upgrade scam.
Confusing Contract Jargon
It’s important to note that timeshare contracts can be very complex and difficult to understand. It’s always a good idea to have an attorney or a timeshare exit company review any contracts before signing them. This can help ensure that you fully understand the terms and conditions of the upgrade and any potential financial obligations that may come with it.
Don’t Fall for a Timeshare Upgrade
It’s important to note that while timeshare upgrades can often be a scam, not all timeshare companies are predatory. However, if you do find yourself in a situation where you feel pressured or tricked into an unwanted timeshare upgrade, it’s good to know that there are resources available to help you. Centerstone Group is one such resource, with a team of timeshare exit specialists who can help protect you from scammers and resolve contract issues. If you’re struggling with a timeshare upgrade or any other timeshare-related issue, don’t hesitate to reach out to Centerstone Group for a free consultation.