Guide to Purchase a Timeshare

Contrary to popular opinion, timeshare isn’t a scam. It’s a way to assure a frozen price of next years’ vacations. Find out how they work, what types exist and what you have to look at when purchasing them.

Timeshare consists in the anticipate sale of “vacation touristic spaces”, in other words, accommodations in hotels or condominiums for a fixed price and a maintenance quote for a determined number of years. As a consumer, you are buying the right to use the spaces that the developer is offering without being the owner of the land or construction.

This type of services usually work with memberships and intern regulations where it’s specified how long it will last, the type of use, the unit and how many people can stay. All is stated in a contract.

Its bad fame comes from fraudulent advertising and aggressive sale strategies that many providers have used, same ones you can report to PROFECO.

Before signing a contract be sure you have satisfactory answers to these questions:

• Which is the total price of the service?
• If it’s in a foreign country: Do you have to pay extra payments or there are restrictions?
• In case of having a credit: How much is the annualized interest rate?
• How many times you can use it each year?
• To what services you are entitled in each development?
• Are the dates of occupancy fixed or variable?
• Do you have to make a reservation? With how much time of anticipation?
• Do you have the right to rent, sell, exchange or donate it?
• Which are the available destinations in what countries?
• Do you have to pay an extra quote or is there any restriction to the plan you want to buy?
• How many days do you have to cancel the service after you sign the contract?

Read more about timeshare and its advantages.