If you own a timeshare, then you should know about our services at Resort Advisory
Group. We help people who realize that they were manipulated into purchasing a
timeshare. When the pain of owning a timeshare settles in, with escalating costs,
owners may want to cancel their timeshare contracts. Any timeshare owner that
wants to cancel the contract will find a useful advocate with our team at Resort
Advisory Group.
We understand the timeshare industry, and we understand steps that consumers
can take to cancel a timeshare contract. It isn’t easy. Timeshare developers have
built millions of dollars in monthly receivables through their manipulative sales
process.
Some sales agents represent the timeshare as an investment. To purchase the
timeshare, reps may qualify the purchaser for a credit card and then use the credit
card to fund a down payment. Then they mislead the consumer into believing that
they’re getting into the timeshare with “no money down.”
That’s isn’t really true, of course. The credit card charge means that the consumer
financed the down payment at an extortionate interest rate. But the down payment
is only part of the problem.
According to the timeshare industry, an average purchase exceeds $20,000.
Developers may charge the credit card $5,000 for the down payment, then finance
the remaining $15,000 mortgage on the timeshare. Average interest rates for both
the down payment and the mortgage would be around 17% annually.
Financing $20,000 at 17% over 20 years would cost the consumer $293 per month.
That $293 monthly payment over 240 months would come at a high cost. Over the
life of the loan, the consumer will have paid $70,320 for the timeshare. Besides the
cost of purchasing the timeshare, additional fees for maintenance would burden the
consumer more.
When reps mislead consumers into making such purchases, the violate consumer
protection laws. Our team at Resort Advisory Group documents those
misrepresentations, then uses them to help consumers who want to cancel their
timeshare contracts. If you would like a free consultation, please contact us today at
1-844-493-5922.
