by John G. Merna, Esq.
Why A Moment Of Excitement Can Cost You A Lifetime Of Debt
Lesson 4: You are never told the important stuff.
Timeshare sales is as much about what they don’t tell you are what they do. They don’t tell you a lot in the presentations. They leave it for the small print of the assuredly legal contract to give you the darker side of timeshares. Here is one big dark side: Even after you have paid off the outrageously high price for the timeshare you will still owe the monthly maintenance fee which over time will grow. In other words, you will never stop paying for the unit and your children will never stop paying for the unit. More on this later.
When we “want” (read “feel greedy”) we don’t want to hear bad news. The pitch of timeshare sales is crafted to keep us away from asking the hard questions or searching for the bad news. The bad news is what we need to hear to avoid problems. Bad news does not kill all deals. It is just a risk factor that needs to be weighed. Ask the hard questions in any deal and at least you will go into it with your eyes wide open. Have I ever been taken on a deal. Absolutely. That is life. I am not telling you this because I am smarter than you. I am just trying to pass on my observations and in this case about timeshares.
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