Dave Ramsey on DVC

[Cfabar1]

Stumbled upon a YouTube video with Dave Ramsey discussing DVC

For those who listen to Dave, it is well know he abhors any kind of Timeshare. Listening to the video, I was struck by the fact he really had nothing bad to say about DVC in terms of specific concerns, but was clearly highly knowledgeable about the product. He even acknowledged for those who go regularly it makes sense, he just felt that most people wouldn’t want to actually go that much, or be beholden to taking the same vacation year after year.

 

[take36]

The loss in flexibility is a big problem. Taste, health, finances, and family change throughout life and having to go to Disney every year (more like every 3 years) to justify a significant non essential outlay is crazy. Only the craziest Disney fanatics can make DVC work and that’s who we are lol.

 

[Memorymakerfor4]

Coming from Dave, that was high praise for DVC lol.

I appreciate his skepticism of timeshares, they honestly are a mistake for most people. Since we bought in, I've only recommended DVC to two people. They are planners, could afford to not finance, and are the kind of fans (like we are) who are in it for the long run.

 

[DonMacGregor]

I think that the fact that the video linked is the only video Dave Ramsey has done on DVC speaks volumes (if there are others, I've never seen them but have seen this one a dozen times now). If there was more meat on that bone to chew on and get views, he'd be on it in a heartbeat. Just no sexy timeshare horror stories to get the clicks and subs.

 

[longboard55]

Time shares did not make a lot of sense before we had $50 parking and $65 resort fees. Look at the number of 4/5 star resorts they are building, not many from what I see. Room prices are not going down. As you get older you need to lock in expenses.

 

[Maistre Gracey]

Not a Ramsey fan, but I’m sure “buying DVC” is not baby step #8.

 

[Maistre Gracey]

Time shares did not make a lot of sense before we had $50 parking and $65 resort fees. Look at the number of 4/5 star resorts they are building, not many from what I see. Room prices are not going down. As you get older you need to lock in expenses.

Seeing as though mtc fees are BY FAR the largest expense in the long run, you are really locking in very little.

 

[AnnaKristoff2013]

Stumbled upon a YouTube video with Dave Ramsey discussing DVC

For those who listen to Dave, it is well know he abhors any kind of Timeshare. Listening to the video, I was struck by the fact he really had nothing bad to say about DVC in terms of specific concerns, but was clearly highly knowledgeable about the product. He even acknowledged for those who go regularly it makes sense, he just felt that most people wouldn’t want to actually go that much, or be beholden to taking the same vacation year after year.

Isn’t this the guy who was stanning for one of those timeshare exit scams a few years back, and then got called out on it and doubled down? Those are all scams. I would be highly suspect about anything this guy has to say about timeshares.

 

[DVCSunDevil]

Coming from Dave, that was high praise for DVC lol.

I appreciate his skepticism of timeshares, they honestly are a mistake for most people. Since we bought in, I've only recommended DVC to two people. They are planners, could afford to not finance, and are the kind of fans (like we are) who are in it for the long run.

I have only recommended it to a couple people as well. One of our friends said it looks like we really enjoy it and they asked about getting info. I recommended for them not to do it because they are NOT planners. But we have other friends who "check all the boxes" that I recommended it to. They are now hunting that perfect resale contract, lol.

 

[RoseGold]

HAHAHAH, this is actually how I got on my DVC bug. LIke 15 years ago, I listened to his dumb radio show because my dad liked it -- and it was better then.

He was sponsored from a get rid of your timeshare kind of place, so he took a lot of calls about timeshares that were pretty much what you expect. He actually used to caveat Disney as the only exception. This around when DVC really took off after the 08-09 recession. He said it multiple times so I looked it up.

There's a lot I don't like about Dave Ramsey, but his position on timeshares is correct. He's been at this for decades, he knows all about it. His first point is don't buy a timeshare, then he walks through the legit ways to get out (broker). To be fair, timeshare service is the only option left on some of these super scammy ones. And a timeshare service isn't that different than a resale broker for the ones worth something.

 

[mz-s]

Isn’t this the guy who was stanning for one of those timeshare exit scams a few years back, and then got called out on it and doubled down? Those are all scams. I would be highly suspect about anything this guy has to say about timeshares.

Timeshare exit brokers are not always scams, and I don't think the one he was recommending was a scam either. They're expensive but not as expensive as keeping an expensive timeshare that the owners do not want anymore and may not even be using anymore.

 

[RoseGold]

Timeshare exit brokers are not always scams, and I don't think the one he was recommending was a scam either. They're expensive but not as expensive as keeping an expensive timeshare that the owners do not want anymore and may not even be using anymore.

Back in the day, the sponsor had some kind of connected brokerage arm that sold the more valuable stuff, like any resale broker. Even back then, he knew which of these contracts had value. The calls on air were scammy, like you'd expect, but even then he knew what a Hawaii Hilton week was worth. They were very careful to edit out names on the timeshare stuff, Disney was a wild exception.

 

[AnnaKristoff2013]

Timeshare exit brokers are not always scams, and I don't think the one he was recommending was a scam either. They're expensive but not as expensive as keeping an expensive timeshare that the owners do not want anymore and may not even be using anymore.

Im sorry but this is just factually incorrect, and candidly it is dangerous misinformation for people that might be reading this thread. They are all scams. Any company that charges up front is a scam, they are at best taking money to easily do what a person could do themselves and at worst taking money and not doing anything or doing things that seriously harm the persons credit and open them up to liability.

I’m not talking about legitimate resale brokers that list your timeshares and take a commission if it sells. I’m talking about the companies that require any sort of up front “listing” fee or any other kind of fee. Those are all scams and Ramsey a absolutely was stanning for one that got busted. Here you go: https://planneratheart.com/dave-ramsey-endorsed-timeshare-exit-team/#:~:text=It seemed too good to,hard-earned money with them.

 

[Brian Noble]

Timeshare exit brokers are not always scams

I have yet to see one--any single one--that does anything an individual could not do for themselves with only a little effort and for much lower cost. Most don't even manage to transfer the timeshare out of the owner's name, but they are good at cashing that owner's check for several thousand dollars.

"Timeshare Exit Team" (the one Ramsey recommended) is one of the latter. They've left a number of owners on the hook for years, and here are many MANY reports that their "money back guarantee" is similarly bogus.

https://www.insideedition.com/custo...et-them-out-of-timeshares-only-made-situation

 

[mz-s]

I have yet to see one--any single one--that does anything an individual could not do for themselves with only a little effort and for much lower cost.

If everyone did everything themselves, Jiffy Lube would not exist for one thing. Not everybody wants to go to the effort.

 

[mz-s]

Im sorry but this is just factually incorrect, and candidly dangerous misinformation for people that might be reading this thread. They are all scams. Any company that charges up front is a scam, they are at best taking money to easily do what a person could do themselves and at worst taking money and not doing anything or doing things that seriously harm the persons credit and open them up to liability.

I’m not talking about legitimate resale brokers that list your timeshares and take a commission if it sells. I’m talking about the companies that require any sort of up front “listing” fee or any other kind of fee. Those are all scams and Ramsey a absolutely was stanning for one that got busted. Here you go: https://planneratheart.com/dave-ramsey-endorsed-timeshare-exit-team/#:~:text=It seemed too good to,hard-earned money with them.

Thanks for using the most overused phrase of the past 3 years, "dangerous misinformation"

If somebody bought a junk timeshare that is impossible to sell then yeah it's going to be difficult to offload. Nobody wants the junk.

 

[Brian Noble]

If everyone did everything themselves, Jiffy Lube would not exist for one thing. Not everybody wants to go to the effort.

There is "paying someone a reasonable fee for not doing it yourself" and there is "paying someone thousands of dollars to do nothing."

Timeshare Exit Team is the latter for anyone who actually needs help. They are very good at disposing the Marriotts and Hiltons of the world for those same thousands of dollars for a timeshare that the owners could list on ebay and get paid for. So those owners are out the thousands of dollars plus the potential sales price if they'd just listed it themselves.

In other words: You are just plain wrong. Spend some time over on TUG hearing the horror stories of this and similar companies. They are very real.

For anyone reading this thread who happens to own a non-Disney timeshare that they want to get rid of, but don't know how, TUG is a good place to start. It's a community of very knowledgeable timeshare owners who can tell you (a) if your ownership might have at least some value if you sell it, (b) whether you have something that you might plausibly be able to give away to someone who is looking to "adopt" a timeshare, or (c) whether you have something that is truly an albatross, and what your options are at that point.

https://tugbbs.com/forums/threads/how-to-sell-your-timeshare-and-avoid-getting-scammed.44/

 

[mz-s]

There is "paying someone a reasonable fee for not doing it yourself" and there is "paying someone thousands of dollars to do nothing."

Timeshare Exit Team is the latter for anyone who actually needs help. They are very good at disposing the Marriotts and Hiltons of the world for those same thousands of dollars for a timeshare that the owners could list on ebay and get paid for. So those owners are out the thousands of dollars plus the potential sales price if they'd just listed it themselves.

In other words: You are just plain wrong. Spend some time over on TUG hearing the horror stories of this and similar companies. They are very real.

I am not necessarily talking about Marriott and Hilton, timeshares that actually have a resale market. Owners of those timeshares, like DVC, don't need an "exit group" neither do they really need "World of DVC" to sell.

 

[DonMacGregor]

There is "paying someone a reasonable fee for not doing it yourself" and there is "paying someone thousands of dollars to do nothing."

Not surprisingly, that general maxim often applies to the 17 year old kid allegedly changing your oil at Jiffy Lube as well.

 

[Brian Noble]

I am not necessarily talking about Marriott and Hilton, timeshares that actually have a resale market. Owners of those timeshares, like DVC, don't need an "exit group" neither do they really need "World of DVC" to sell.

Guess what? TET doesn't tell those owners that. They give them the same "You are doomed unless you have us help you" line that they give to the people who really do own the albatrosses.

The difference is: They don't actually do anything for the albatross owners other than cash the check.