Reviews of the timeshare industry by the owners...
I bought 7000 credits of Worldmark the Club timeshare in 2002. I paid $12,000 for the credits and was told that it would be great for me since I was a truckdriver and could use the resorts as I traveled to different parts of the US.
In hindsight, I wish I'd tape recorded their sales pitch. One lie and exaggeration after another. I bought into the Kissimmee/Orlando timeshare. I've been trying for over 10 years to sell or rent with no luck. So much for the "GREAT INVESTMET" they said it would be.
This will probably be a longer than you would like, but it is truly a reflection of how I feel about RCI, their rules and their fees. Once upon a time (22 years ago, when I purchased my timeshare and joined RCI), life was easy. I deposited my week, paid a fee and traded for a week somewhere else for vacation. Life changed and it changed for the worse, much worse.
I own at a resort that changed management to Defender in the past year.
I do not understand why our board went with this company. I find them disorganized with respect to a mixup on my maintenance bill. Owners received their ballots for pending board officer elections that seem to have been full of mis-spelling even giving the address of the resort wrong.
PLEASE READ ALL:
I just returned home from the Shell Vacation Club presentation. My career was in banking, so numbers matter to me and jump out at me, too. At the Arizona State Fair, I was talked into the timeshare presentation and went, since I travel often. The brochure I was given at that time offered a "free gift", if I went through the presentation. The presenter did a good job of explaining the general timeshare program, but would not talk cost. When she finished, the closer came in tell about the cost and financing. The cost was just under $30,000, with annual dues of $741. The interest rate was 16.99%!!! With your purchase, you could claim 7000 points for use on hotels.