Holy Wah! Timeshares for $1!

[TrustedTraveler]

Thought I'd check out the deals on ebay this morning and found hundreds of timeshare listings with auctions starting at $1. So many that I'll be surprised if the bidding goes much higher.
My theory: resort owners are stuck with inventory and are willing to let it go for almost nothing just as long as someone is responsible for paying the maintenance fees.
Many are mid range resorts, but some are definitely top notch!
I like the idea of a timeshare, you're sharing the cost of ownership, I've just been turned off by the high pressure sales tactics and the ridiculous purchase price.
Now, if I could find this kind of a deal on a pool home...

 

[spiceycat]

hey florida is in trouble. so if you take the time to look you may find a bargin in florida at this time.

mind (if it ever goes threw) is a great deal.

 

[Brian Noble]

resort owners are stuck with inventory and are willing to let it go for almost nothing just as long as someone is responsible for paying the maintenance fees.

Most of these are (or were) privately owned and are "resales". For a variety of reasons, the resale market is over-supplied right now. Most developers are still selling at a reasonable (but somewhat slower) clip---for full fare.

Take your time in the resale market. Some of those are diamonds in the rough. But, many are over-priced at $1. Even a great resort might have off-season weeks available that cost more to own (even given away) than the value they deliver.

 

[Upatnoon]

You can rent timeshares for cheaper than you'd pay in maintenance fees, another reason they sell for $1.

 

[Kat&Dom]

Thought I'd check out the deals on ebay this morning and found hundreds of timeshare listings with auctions starting at $1. So many that I'll be surprised if the bidding goes much higher.
My theory: resort owners are stuck with inventory and are willing to let it go for almost nothing just as long as someone is responsible for paying the maintenance fees.
Many are mid range resorts, but some are definitely top notch!
I like the idea of a timeshare, you're sharing the cost of ownership, I've just been turned off by the high pressure sales tactics and the ridiculous purchase price.
Now, if I could find this kind of a deal on a pool home...

I think a lot of people just want to get rid of the yearly maintenance fees that run anywhere from $400 - $1,200 per year. I actually bought at the Grand Beach Resort a couple of years ago on Redweek.com for $500 - it is a 3 bed/3 bath - 1,520 sq ft condo with full kitchen and washer/dryer in unit - we stayed there in August and I love it. It is about 5 minutes drive to Disney - it is conveniently located and a beautiful condo. I am very happy with my purchase - it is so nice to have such a huge condo and be able to invite other people along and everyone has space and privacy.

You do have to be careful when buying a resale - check reviews on the resort - see if they are affliated with RCI - and make sure the maintenance fees are not too unreasonable. I already had a timeshare in Mexico so I knew what I was getting into by buying a resale. I love having timeshares because it makes all my vacations so affordable. It makes you have to plan a vacation because you are paying the maintenance fees whether you use it or not.

We are going to Disney next month using my timeshare week from last year and then in May, we are heading to Hawaii with my timeshare week from this year - I could not afford to do back to back big trips if I didn't have the timeshare. Our trip to Florida in April is $1,024 for flights and car rental and our trip to Hawaii (Big Island and Maui for total of 10 days) is $1,500 for flights and car rental. Pretty cheap vacations and being in a condo so we can cook our own meals and having washer/dryer in unit makes it a very affordable and fun vacation.

As you can see, I am very pro-timeshare but they are not for everyone. You have to use them for the majority of your vacations and you need to have one that has great trading power so that you can get a week in Hawaii or Spain or where-ever you want to travel to. $1 for a timeshare is not a great deal if you are not able to go anywhere but to that location and if you don't like it, you are stuck paying maintenance fees for somewhere that even you don't want to go to. Do lots of research before you buy. Good Luck!

 

[Cdn Gal]

We too love our timeshare- it is at Wyndham Bonnet Creek. (right beside CBR) But DO YOUR RESEARCH!!!!!!! Check out the website TUG or Wyndham Owners Group before you purchase anything. For us we bought resale. I would NEVER buy from the company itself. The more research you do the better you are off. As well I would never buy off of Craig's List-only ebay as it offers more security. This year we are using our points for Williamsburg VA, Daytona Beach and Bonnet Creek. Next year, we have alot of RCI, but are thinking Vegas, and this place by the Grand Canyon- Sedona I think and Flagstaff. For the amount that we usually pay for a vacation, it is cut down considerably by using a timeshare. We are both teachers and can only travel during peak times. And since I LOVE to plan way in advance... time sharing works for us- But DO YOUR HOMEWORK!!

 

[Fastpaks]

I couldn't agree more about your "homework". I haven't purchased yet cause I m still on the fence. The one thing I have learned from Tugg is Dont Hurry!.... cause forever is longer. I have no doubt that I will buy one at some point. But it a waiting game atm.

 

[swilshire]

You can rent timeshares for cheaper than you'd pay in maintenance fees, another reason they sell for $1.

True if you can travel off season or to less popular locations. Sometimes even true in areas with LOTS of timeshares in more popular times, such as Orlando. You won't find peak times and highly demanded locations for less than the maintenance fees.

There are good deals to be had, but if you're seriously looking, join the Timeshare Users Group at www.tug2.net and do a lot of research first. We are happy owners for about 15 years now. We leave tomorrow for Disney Vacation Club at Hilton Head.

We have worked up to 10 weeks of ownership (though we need to sell a few after our last purchase of four annual weeks on Nantucket Island). My family is not happy traveling any other way.

Sheila