Is buying a used timeshare a good idea?

[Devin239]

I have been doing my research and I know that buying a timeshare from a resort is not smart as they are way overpriced. My question is whether it is smart to buy a timeshare on the secondary market with them being so cheap these days. If I can get a timeshare that cost the original owner $50,000 for a few hundred dollars, doesn't it make sense to get it?

[jeffrey]

No.

If you are going to buy a timeshare, then buying used is better than buying new. But buying a timeshare used is still a bad financial move mainly because you can rent that same timeshare for the same week in the same resort for less than you will pay in maintenance fees for your timeshare plus you aren't locked into paying for it year after year. Just don't do it.

[timesharejunkie]

A lot of people think that there are good deals out there, but think about why so many people are trying to get rid of their timeshares. They don't want them and they don't want them for a reason.

Timeshares were originally marketed to the rich who didn't have to worry about the money, but over the years they started to market them toward average Joe. Average Joe doesn't have the money not to care where it goes.

[tiffany]

I wish I had bought a used timeshare rather than one from the resort. I would have if I had known better, but now I'm not sure that buying one at all was a good idea. When we purchased it we knew that we traveled to Hawaii every year at the same time, so it seemed to make sense. But my husband had a heart attack and doesn't move as easily as he once did so the long trip is out of the question. Life throws funny things that can ruin plans even when you think that they are perfect. We have learned a timeshare is forever even if something unexpected happens.

[timeshareowner]

Buying a timeshare is an individual choice and it can be a good time to buy a timeshare if you know exactly what you are doing. It's like anything else. If you understand how they work and exactly what you will be getting, then buying a timeshare now could be a great deal. The problem is when people buy timeshares and have no idea what they are really signing up for.

[DisneyLover]

There are some good deals out there if you know what you want.

Some people are so desperate to get out of their timeshares that they are placing them on eBay for $1 and the seller will take care of closing costs and transfer fees which is something the buyer usually has to do. Some of these timeshares were originally sold for five figure sums. You do have to pay the fees for upkeep on a yearly basis so it definitely isn't free, but if you do your homework there are good deals out there.

[Susan Foster]

It amazes me that people still pay the high resort prices when almost everyone knows
that there is a secondary market, where you can find almost every timeshare for sale, at a fraction of the resort price. Also, there is no high pressure. It is not like buying a used car
where there is wear and tear. What you get is exactly the same as purchasing from the resort, in most cases.