Timeshare products are never bought they are sold.
A strange concept, however very true and very real. Many have complained in the past that they have been locked into boiler rooms and hounded until they have parted with some money by resort touts and timeshare salesmen.
Always remember timeshare products in the main are sold not bought.
Cars, boats, cookers, beds, hotel rooms, flights, PPI, insurance, double glazing and many other contracts and products are also sold not bought, In timeshare however, it prolific.
Timeshare is sold for astronomical prices. Take a house, you buy a new house and then sell it 5-10 years down the line, sometimes you get more than you paid and other times you don’t. It’s a risk whichever way you dress it.
In timeshare there is no risk you lose: You buy a timeshare and you lose every time. It’s similar to going to a casino and rocking up to the roulette table and putting you money on “Blue” when there is only “Red”, “Black” and 1 Green Square the ball can land in. You cannot win.
So something is being said in those meeting which leads consumers to believe that the timeshare product has a value and that value is representative of the price which is being asked.
Description and how the product is being described.
Sales companies are clever and are very used to the “selling game”, they know that if they put a description into words it is very hard to dispute. These are express representations! On the other hand verbal representations are more difficult to prove by consumers as its one on one “he said she said”.
One way is to write them down and ask the salesman to sign that those representations were made and that you are relying upon them.
Great advice, but in reality no one will ever do that.
It is far better to walk away and say you will consider the matter and as the salesman has made many claims, again ask that those claims are confirmed in writing and upon receipt you will consider the matter fully.
Remember Timeshare Salesmen Lie
Never Sign or pay on the day
Always check what was or is being said, against the written descriptions
Describing a product as ‘free’, ‘gratis’, ‘without charge’ or similar if a consumer is going to have to pay more than the cost of responding to the advertisement and collecting or paying for delivery of the item are also examples.
Wrongful descriptions are mentioned and affirmed in The Consumer Protection from Unfair Trading Regulations 2008 (known as the CPRs).
It is Therefore Unlawful
Enforcers may take civil enforcement action in respect of a breach of the CPRs under Part 8 of the Enterprise Act 2002. This can be done by applying to a court for an enforcement order and a breach of any order could lead to up to two years’ imprisonment and/or an unlimited fine.
The CPRs also contain criminal offences that can be prosecuted by the Competition and Markets Authority, trading standards services, or the Department of Enterprise, Trade & Investment in Northern Ireland (and by the Lord Advocate in Scotland). The penalties are:
- on summary conviction, a fine not exceeding the statutory maximum (currently £5,000)
- on conviction on indictment, an unlimited fine and/or imprisonment for up to two years
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk