Are you considering purchasing a timeshare? There is a lot to think about before getting one, so doing your research is the best method to buy the right timeshare. The more you research about vacation ownership and the more detailed you are about what you want from your timeshare, the more prepared you will be to gain a lifetime of satisfaction from your purchase. Keep reading to find out how to get a timeshare!
How to Get a Timeshare?
Before purchasing a timeshare, ensure that it is the right option for you. Here’s how you can buy a timeshare:
- Get Funding for Your Purchase
If you’re having difficulties securing the up-front cost of a timeshare, timeshare financing is your best option. When you buy straight from a resort, most will provide in-house financing. It is best to use their financing services, but you may be able to obtain a better deal from a third-party lender. To secure a quick loan approval, all you need is a minimum FICO credit score of 600.
- Speak with Current Timeshare Owners
One of the first things you should do is talk to other timeshare owners about their experiences on Facebook forums and in TUG groups. These forums are free to join, and you can get genuine answers to your queries from real owners. These experienced owners can simply fill in the blanks for you and serve as a mentor to you at times.
- Attend a Timeshare Presentation
Some families will purchase a timeshare while on vacation at a timeshare property and take part in a timeshare tour to learn more about vacation ownership. Attending a timeshare presentation has several advantages. If you want to buy the timeshare ahead of time, a tour can offer you a better understanding of how the resort operates, and you can ask the sales representatives additional questions before signing the contract.
- Purchase Directly from the Developer
Purchasing directly from a developer that builds and oversees the resort, like Club Wyndham and Disney Vacation Club, offers several advantages. Especially, some booking discounts and resort perks may be given solely to owners who purchased straight from the developer. The disadvantage is that the initial purchase price is often substantially greater than on the resale marketplace.
- Consider the Timeshare Secondary Market
Instead of contacting the developer or attending a 90-minute presentation, you can use the timeshare secondary market to find the right timeshare. The timeshare resale market can help you get the best deal on some of the finest timeshare properties around. You can also search for timeshares for sale by resort, brand, or destination of your choice. If you’ve found a timeshare you’d like to purchase, make an offer online or phone the agent.
- Buy from a Timeshare Resale Firm
In today’s market, you can easily find many firms selling timeshares, so be cautious of some timeshare resale scammers out there. While the majority of these scams target owners looking to sell their timeshares rather than potential purchasers, you should be cautious and avoid deceptive resale agents and brokers. To be safe rather than sorry, consult ARDA’s list of reputable resale firms.
