It’s important to note that timeshare companies often use high-pressure tactics to convince people to upgrade their memberships. These tactics may include offering discounts, using fear tactics, or making false promises about the value of the upgrade. It’s crucial to be aware of these tactics and to resist the pressure to upgrade if it doesn’t make financial sense for you. If you’ve already fallen for these tactics and are now stuck with a timeshare upgrade that you don’t want or can’t afford, it’s important to seek help from a reputable timeshare exit company like Centerstone Group.
Is a Timeshare Upgrade Really Necessary?
Recall the moment you made the decision to purchase a timeshare. It’s likely that you were swayed by the enticing images of contented people lounging on the beaches of Cabo San Lucas or Miami. Additionally, the sales presentation probably portrayed vacation ownership as an opulent and hassle-free experience. So, why is your timeshare company pushing you to upgrade now? Why is your original purchase no longer sufficient?
It’s true that, over time, your timeshare may lose value as your resort ages and requires refurbishing. However, this is why maintenance fees and special assessments exist. You should never feel obligated to upgrade your timeshare, and your company shouldn’t be pressuring you into buying a new membership that you don’t want.
Unfortunately, many timeshare owners are coerced into upgrading. They’re promised a better experience with a new membership that will replace their old one, or they’re told that upgrading will lower their maintenance fees, when the opposite is often true. Be vigilant for these upgrade tactics.
The Membership Upgrade That Becomes Two Timeshares
The glossy photos of happy vacationers on the beach and the enticing sales pitch likely influenced you when you first decided to purchase a timeshare. However, companies are now telling you that your initial purchase is no longer sufficient and pressuring you into upgrading. One way they do this is through mergers, such as the one between Hilton Grand Vacations (HGV) and Diamond Resorts, which resulted in the creation of HGV Max, a new type of membership that supposedly enhances the vacation experience for owners of both companies.
Hilton Grand Vacations has several types of memberships, including the Hilton Grand Vacation Club and Hilton Grand Vacations Elite. However, HGV Max is different in that it allows owners to stay at both Diamond and Hilton Grand Vacation properties. While these mergers can mean more vacation options, they can also result in increased fees. It is critical to understand the costs associated with any upgrade before committing to it.
Some developers use timeshare upgrades as a way to convince you to purchase an additional timeshare. Unfortunately, this often results in customers being signed up for two properties and paying maintenance fees on both. It is important to be aware of these tactics and avoid making regrettable decisions.
Equity Discounts and Lower Maintenance Fees
Timeshare developers often use the ploy of telling you that the equity in your current timeshare will transfer over to a new, upgraded timeshare membership. However, this offer is usually a scam. This is because the value of your existing timeshare property does not justify the inflated price of the upgraded timeshare property. The equity discount excuse is used to get you to pay more for a new membership, which often comes with slightly better perks and amenities that do not justify the high price. Furthermore, there may be additional upfront fees required to upgrade your membership. Some timeshare developers may also claim that upgrading your membership will lower your maintenance fees, but in reality, this means that your new membership will be cheaper than your current one, and you will still have to pay maintenance fees for both properties.
Confusing Contract Jargon
Developers often use vague and confusing language in timeshare contracts to deceive people into purchasing timeshares. These contracts are often filled with deceptive clauses that make it difficult to cancel the timeshare once the rescission period is over. If you have already fallen for this tactic, be wary of a timeshare upgrade.
When considering a timeshare upgrade, carefully examine any new contracts that come with it, as they may contain red flags. The contract should clearly state that the original form of membership or deeded week is being taken back by the developer. If this is not explicitly stated, you are likely being enrolled in an additional timeshare property or membership, which could result in double the fees and financial burden. It is crucial to thoroughly understand the terms and language of any contract before agreeing to an upgrade.
Don’t Fall for a Timeshare Upgrade
It’s great to know that there are services like Centerstone Group that can help protect timeshare owners from scams and get them out of unfavorable contracts. It’s important for consumers to do their research before purchasing a timeshare, but unfortunately, many are still taken advantage of by deceptive sales tactics. If someone finds themselves in this situation, it’s good to know that there are options available to help them get out of it.