An old adage states that “forewarned is forearmed”, and I do believe that this is true, which is why I have dedicated this week’s blog post to make sure you can tell when you’re being scammed, and when a timeshare company is genuine. There are some simple signs to tell a scam from a genuine timeshare company.
How to tell a scam from a genuine timeshare
If you keep your eyes open the signs of a timeshare scam can become apparent pretty quickly; there are a number of warning signs which can help you to identify a scam, as opposed to a genuine timeshare. Read on to find out how you can tell when someone is trying to scam you, and how you can protect yourself from such fraudster. These are the various key signs of a timeshare scam in operation:
Lies and dishonesty
The first thing you have to ask is how honest the timeshare company is with you in its dealings; “white lies” might not seem like much, but they can be the tip of the iceberg. For example, if you are promised that the timeshare presentation would be only a few hours but it takes twice as long, or if you never receive the promised incentive (or you were asked to pay for it), this could be a warning sign of a timeshare scam. It’s about integrity; if you catch them in one lie, you must ask how many others they are telling to close a timeshare sale.
Bad reputation or no reputation
If you cannot find any real information about the company on the internet, not even complaints or reviews, then they are most likely fraudulent (or exceptionally fresh off the block and worth steering clear of). Fly-by-nights with no paper trail or history are usually timeshare scams. If you want to be safe we recommend that you only deal with timeshare groups that have a solid reputation; 10 years or more experience would be ideal.
It can be hard to check if the timeshare company has all the right licenses and registrations, but there are some indicators are a company is legitimate. First and foremost, keep an eye on those representatives who are allowed inside the airports and shopping malls, and note the name of their companies. Only companies which have all of their licenses, etc, in order to be allowed in such places. Likewise, you should ask to see their identification if they stop you in the street.
Are they affiliated with an exchange network?
Most legitimate timeshare companies are affiliated with an exchange network, so while the lack of affiliation is not a guarantee that they’re a scam you can be sure that they’re not if they work with companies like RCI or Interval International.
Follow your gut
Ok, so this isn’t scientific and not everyone has strong intuition, but more often than not if you’ve got a bad feeling about something it’s for a good reason. This is perhaps the first warning you will get of a timeshare scam; if something feels off keep your eyes peeled for the other signs.
Recommended article: Canceling your Timeshare Contract with Villa del Palmar