Up to this day, we all know that many owners are trying to get out of their timeshares due to some of its disadvantages especially the fees involved with it. With this, many potential buyers ask, are timeshares a waste of time? According to one financial expert, if you are thinking about buying a timeshare, you are making a bad decision. Dave Ramsey, host of the Dave Ramsey Show on News/Talk 92.3 KTAR also added that it's playing with fire while sitting in a puddle of gasoline.
Ramsey said that for starters, there is no redeeming value. You can't give the stupid thing away as there's no market for timeshares whatsoever and nobody buys them. It is one of the few consumer products that has a 97% dissatisfaction rate, he said.
Another question is what if someone who owns one offers to give it to you as a gift and all you have to pay is the $250 annual maintenance fee? According to Ramsey, until the $250 becomes $1,000 because the timeshare organization decides to get together and raise the fees, and then you're stuck in the thing.
However, if you are on vacation and you are offered a free stay and meal just for listening to a timeshare presentation, Ramsey said the establishment is probably not that nice anyway. Moreover, Ramsey added that you should not think you are strong enough to just take the freebies and run.
Despite the number of owners trying to get rid of their timeshares these days, we can’t deny that such vacationing option remains a popular choice for many consumers. However, potential owners must also be ware the disadvantages and financial obligations brought about by timeshare ownership and those criticisms of Ramsey might serve as a guide or warning for those planning to opt for this or of vacationing.