Steve R.
Retired
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- Joined
- Jul 5, 2006
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We arrived in Branson, MO on a proverbial wet stormy night (hail, rain, thunder and lighting. narrow dark winding road, etc.). The next morning, still not having fully recovered from our arrival, we went for a drive around town to see what was there. We ran across a "visitor information" storefront. It turned out, like many storefronts in Branson, it was a "facade" for selling timeshares to the riff-raff that just rolled into town.
The big, but obvious lesson, never sign anything that a salesman puts in front of you. No matter how good it sounds. We did not sign, but there are lessons from the experience to be passed down.
The salesman was attempting to "sell" timeshare resort units. There were no resort units where our daughters lived, so he changed tactics to "rent", for points, hotel rooms in the cities where our daughters lived. I asked him to provide a $$$ equivalent for the points so that we could determine whether the timeshare approach was better than the traditional retail rent a hotel room. He was unable or reluctant to do it. That set-off my warning alarm that things were not right.
The way it works, when you "buy" into a timeshare plan you pay for a "share" plus an annual maintenance fee. The maintenance fee entitles you to a certain number of points based on the plan you bought. The accumulated points are then used to "rent" a timeshare unit or a hotel unit. Based on either his inability or reluctance to provide that type of analysis we declined to sign anything.
After the sales pitch was over and we returned to our hotel room, it finally dawned on me that that a $$$ equivalent for the points could be figured out. Basically, $X buys you Y timeshare points. So that is one to determine the $$$ equivalent. The other consideration, if you don't "buy" a timeshare, instead you invest it; that earns you $$$ income. Looking at those two figures would allow one to determine whether the timeshare or the hotel option is the better deal. Since the salesperson was unable or unwilling to do that type of calculation, one can assume that simply renting a hotel room is the better option.
So why did we do this?
Well, we received a free dinner and free tickets to a show. Both were very good.
The big, but obvious lesson, never sign anything that a salesman puts in front of you. No matter how good it sounds. We did not sign, but there are lessons from the experience to be passed down.
The salesman was attempting to "sell" timeshare resort units. There were no resort units where our daughters lived, so he changed tactics to "rent", for points, hotel rooms in the cities where our daughters lived. I asked him to provide a $$$ equivalent for the points so that we could determine whether the timeshare approach was better than the traditional retail rent a hotel room. He was unable or reluctant to do it. That set-off my warning alarm that things were not right.
The way it works, when you "buy" into a timeshare plan you pay for a "share" plus an annual maintenance fee. The maintenance fee entitles you to a certain number of points based on the plan you bought. The accumulated points are then used to "rent" a timeshare unit or a hotel unit. Based on either his inability or reluctance to provide that type of analysis we declined to sign anything.
After the sales pitch was over and we returned to our hotel room, it finally dawned on me that that a $$$ equivalent for the points could be figured out. Basically, $X buys you Y timeshare points. So that is one to determine the $$$ equivalent. The other consideration, if you don't "buy" a timeshare, instead you invest it; that earns you $$$ income. Looking at those two figures would allow one to determine whether the timeshare or the hotel option is the better deal. Since the salesperson was unable or unwilling to do that type of calculation, one can assume that simply renting a hotel room is the better option.
So why did we do this?
Well, we received a free dinner and free tickets to a show. Both were very good.
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