Any Experience with Buying Secondhand Timeshares?

Anyone here bought a secondhand timeshare, and if so are you happy with your purchase?

I am considering buying a secondhand Wyndham timeshare. I've stayed in a few of their properties before and think the accommodation itself is pretty decent. After going through their sales pitches a few times, I would not be willing to pay the prices for a new membership, but I am tempted by buying someone's membership secondhand for a fraction of the cost.

Anyone here done it and found it decent value? Most of the stuff I can find online about buying a secondhand timeshare is very American and I'm not sure if you get the same value for money here.

Comments

  • +80

    Timeshare - run away.

    • -6

      Yep. Thats why they are so cheap!

  • +39

    Whatever you do report back in a year

  • +29

    Look up the reviews of Club Wyndham. That alone should tell you to absolutely (profanity) run.

    • +2

      The reviews lived up to what I would expect……

    • +21

      Even United Healthcare have a better star rating.

    • Sorry I should edit post but been replied to now. The link above is United States based.

      These are the Australian reviews.

      No surprise though, the reviews are just as bad there as well.

    • +1

      You have to take the reviews on consumer affairs with a pseudo-grain of salt. Yes, they are valid reviews but its not where you should go if you are looking for unbiased reviews on something. No one is leaving positive reviews on consumer affairs.

      But with that said, yes. Steer clear!

  • +6

    I have a few bridges to sell you, given your propensity for this deal, you will really love these bridges …

    • i can sell you a parcel of land on the moon

      • That’s the plot of this https://en.m.wikipedia.org/wiki/Hello_Tomorrow!

    • +11

      OP is only interested in a second hand bridge at a fraction of the price.

      • +1

        Is there one to the available moon land?
        Good package deal
        .

      • +2

        I'll happily resell my moon land parcel for a fraction of the cost

    • Do they come with a set of free Steak knives?

  • +4

    I’ve got some magic beans I’ll do you mates rates for

  • +2

    What excuse are the sellers using for their reason to sell?

    • +2

      They realised what a waste of money it was.

  • Does the timeshare company, ie the one you are buying a share of, own the land?

    Or does it revert back to the scumbags who ran the scheme?

    I know a guy who made a bit of money after the timeshare he inherited was wound up, and the land sold.

  • +9

    Anyone here bought a second hand timeshare, and if so are you happy with your purchase?

    Honestly has anyone been happy with their timeshare purchase?

    but I am tempted by buying someone's membership secondhand for a fraction of the cost.

    You have to wonder why someone is selling it for a fraction of the cost?

    I am considering buying a second hand Wyndham timeshare. I've stayed in a few of their properties before and think the accomodation itself is pretty decent.

    So use the timeshare yearly fee money and the money you saved from buying the timeshare and continue enjoying these places when you want.

    The thing with timeshare, is you are on the hook for the 'fees' and running costs each year till you die (and in some cases your family is after you die!).

    You basically have no control over what these costs will be, you have to pay again to use your 'share' that you own, you pay again if you want to use your share somewhere else.

    Honestly don't do it, I know some people who got suckered in, and they basically pay what would be the going rate at the end of the day, after you factor in all the yearly fees the extra they pay when booking etc. They might as well just book direct. At least that way, if they want to skip a year, then no cost.

    • +1

      Agree I often stay at various Wyndham resorts, found I can always get a deal. Built for a low price point, you can see the maintenance fees going to increase in the future or people just won't want to stay.

  • +9

    Save yourself some hassle and fall victim to a pig butchering scam. At least you get a feel-good fake romance while they steal your money.

  • +4

    Make sure you get a get a big tub of lube with the deal.

    • +7

      Not even a Diddy of baby oil is going to help with that deal.

      • +1

        But is that secondhand Diddy oil ?!?

        • At a fraction of the cost

  • +3

    The membership is cheap because you are signing p to be committed to on-going fees.

    The seller wants out, and is so desperate that they are willing to drop the price as being preferable to having to keep paying fees.

    If you buy, there will be no quick or easy way out.

    • +1

      In many cases you are entering a financial agreement that extends beyond your expected natural life with annual price increases and lots of additional charges likely as the properties age. All the expense with zero ownership.

  • +3

    buying someone's membership secondhand for a fraction of the cost

    Have you considered why they're selling it for a fraction of the cost?

  • +1

    You just cannot help some people, click on this link you can make 60% profit in 3 months https://scambrothers.com.au

    • +5

      Hey man that link didn't work. Any chance you can PM me the real one?

  • +1

    Hi there,

    I recently purchased two timeshare weeks to own (not wyndham).

    Both I essentially got for free. I would never ever pay the $10k asking price to buy into it. I found both advertised on facebook marketplace.

    One I purchaed for $300 from memory, this was the fee for the title to be changed over. This timeshare is a floating week, 2 bedroom apartment, sleeps 6. This week came with a unused week as well. Essentially paying $300 for a week on the gold coast during school holidays.

    The second I paid $1750 from memory which was for the solicitors to transfer the title over. This also came with a free week to use as well.

    Both these places are on the beach front at miami and coolangatta. The on going yearly levy is $1050 and $1250 or so. We find they are terrific value for a 2 bedroom apartment on the beach with full kitchen, laundry, sleeps 6, beach views in school holidays for that price.

    The downside is you are locked into going to these places every year unless you bank the week (which then incurs a fee to use it elsewhere). However if we choose not to go for a year we just onsell the week to family members.

    I'm not too sure how wyndham works but we find the timeshare we have is fantastic value. I would never of bought these for the original asking price.

    • +3

      Both these places are on the beach front at miami and coolangatta. The on going yearly levy is $1050 and $1250 or so. We find they are terrific value for a 2 bedroom apartment on the beach with full kitchen, laundry, sleeps 6, beach views in school holidays for that price.

      These yearly fees seem very low.

      What are the fees like for when you go to book your 'free' week? Normally they slap some premium time of the year fee on you as well if it over the holidays.

      Is your week 5 or 6 nights?

      • +1

        7 nights. There is only a fee if you use a banked week. Beach house levy is $1000. 2 bedroom apartment, sleep 6, full kitchen, laundry, washer dryer, 2 bathroom. We usually request a room at the top on the 18th floor with beach views. From memory this week we can't book september school holidays and the first two weeks of the year.

        Mariner shores levy $1267.59. Again 2 bedroom apartment, kitchen, laundry, 2 bathroom etc. Right on the beach at north burleigh. Only restriction is the first 2 weeks of the year. We are booked in for 7 nights easter 2025 for the above price. Would challenge any ozbargainer to find a 2 bedroom apartment on the beach over easter 7 nights for that price.

        Also all the usual resort facilities, tennis, putt putt, games room, indoor outdoor pools, sauna, etc.

        • +1

          I'm surprised by your costs, they seem far lower than the other people I know who have time share who also get hit with extra fees to use their time etc.

          You seem to have found a unicorn, so you do have to wonder why the person you got it off was giving it away. At those rates they could have easily onsold their week at a profit.

          • @JimmyF: I agree, there is a list at reception of mariner shores asking for $3500 for float weeks, so was pretty happy when I found two seperate people wanting to give theirs away.

            I'll probably end up doing the same as a pay it forward. I have 4 kids so we get tremendous value out of these.

            There is a new tram stop been built out the front of mariner shores, so as the kids get older we can do day trips to surfers etc.

          • +1

            @JimmyF: You have to assume some time shares are set up legit and not to scam. There’s always a trap though. 20 years from now if the building wants replacing, who pays?

            • @AustriaBargain:

              You have to assume some time shares are set up legit and not to scam

              I'm sure some are 'good', like the one Slinky found but most are setup in a way that is really isn't any cheaper for you to be 'owning' a share of the place compared to renting it directly for a week when you want it. You pay each year, yet have zero control over how it is run or even what the future fees will be.

              Read the reviews link above, people can never get a booking when they want, have to pay extra fees to use other places, if they can't get a booking slot in that year and bank the week usage, they pay to bank it, then pay again to use the banked week.

              The scam is you're on the hook for these costs regardless, you can't just 'give' your timeshare back, you have to find another sucker to take it on. There is a reason they have so many bad reviews.

              I'm sure some enjoy them, I would guess they are retired and can go any time of the year, so not locked into school holidays dates etc.

              There’s always a trap though. 20 years from now if the building wants replacing, who pays?

              You would be paying as you are a part owner of the building.

              • @JimmyF: Mostly correct. You can book the week you want and to guarantee that week the reservations open for that week 10 months in prior.

                You also have "some" say as a owner at yearly AGMs etc.

                Depending on the company you can also surrender your week.

                I was just very lucky to get my two weeks for free and only on the hook for yearly maintenance and the transfer fee.

                • @Slinky0111:

                  Mostly correct. You can book the week you want and to guarantee that week the reservations open for that week 10 months in prior.

                  For your time share place sure, its a unicorn one indeed. Have a read the reviews of the one the OP is asking about

                  https://www.productreview.com.au/listings/wyndham-vacation-r…

                  You also have "some" say as a owner at yearly AGMs etc.

                  Not at a wyndham you don't. Which is what the OP is asking about.

                  Depending on the company you can also surrender your week.

                  You can always surrender your week, but you still pay the yearly fees. So seems silly.

    • +1

      Actually quickly checked some emails and the transfer cost was $894.96. Which is all we paid for the legals. This week at mariner shores came with that years week to use.

    • Essentially paying $300 for a week on the gold coast during school holidays

      So the the on going yearly levy real or not?

      If so, why not include it with the $300?

      • Yes, there is an ongoing maintenance levy. Didn't include it because when the timeshare was transferred to me it came with a week ready to be used.

        So whichever way you look at it, the first time we stayed there it cost us $300 for 7 nights accom on the gold coast during school holidays.

        Or look at it the first time we stayed and rhat week was free. Say we keep the timeshare for 10 years every time we stay there it cost us $1030 (transfer cost $300 ÷ 10 years, $30 per year plus the levy).

        • Say we keep the timeshare for 10 years every time we stay there it cost us $1030 (transfer cost $300 ÷ 10 years, $30 per year plus the levy).

          Assuming the yearly fees don't increase.

  • +4

    A year later…

    "I bought a second hand time share and now I can't get rid of it"

    • Technically didn't buy it, only paid transfer fees.

      The first one paid $200 or $300 can't remember which which came with a 7 night stay at beach house coolangatta. We stayed there over easter 2022. Pretty cheap for a week down the gc.

      If and when we don't want them anymore will just give them away and the purchaser to pay transfer costs.

      • Is there an annual cost to these things?

        • +2

          See their post above, ~$1200/year for a weeks usage.

      • What happens if building needs to be repainted?

        • That's why it is a maintenance levy. My $1000 per year levy gets me my 1 week, 7 nights, 2 bedroom apartment, all resort facilities, full kitchen, washer dryer, large spacious rooms, plus all the outgoings of the resort maintenance.

          Depending on what kind of week you own (float meaning all weeks of the year just not week 52, 1 and 2) or non float (not school holidays). But lets say $1000 per week 49 weeks of the year x 132 rooms in the resort = $6,468,000 plus income from the other 3 peak holiday weeks would be what is used to "repaint the building".

          • @Slinky0111: I think you missed the point. Unless you got some very weird timeshare, that maintenance levy is not fixed and will increase rather rapidly as it ages. So in 5 years time that maintenance might be $2000 or $3000, yet you will still only be getting the 1 week. This is where a lot get caught out not realising the fees go up while the value of the timeshare does not.

            • @gromit: Sure definetely is a posibility. Didn't see rate raises like that in the 40 odd years my grandparents owned. Even owning timeshare at tangalooma on moreton island, their levy was only as high as $2000 (from memory, could be wrong). Seems a lot but considering it was a holiday week staying there for 7 nights over easter is quite reasonable.

              They owned 3 weeks there and sold them for a handsome profit.

              In the 30 years they owned there it never increased to what was unreasonable.

              From our 2024 levy at mariner shores "
              Despite substantial increases in statutory costs this year, you will see that the levies have only increased 9.8% this year, and this represents an increase of only around $2.21 per week for most room types."

              You also receive a 1.3% discount paying early.

              To be clear I would never outlay a large cost to buy timeshare week. I was fortunate and found people giving theirs away.

              Timeshare is definetely not for everyone, but it suits us for the time been. Kids are 9,7, almost 4 and 2 so going away for 14 nights a year during school holidays for about $2400 is reasonable.

      • Assuming you can, the issue is as the properties age, their fees can increase, particularly if major maintenance is required.
        You have entered into a financial commitment with zero price certainty that will run longer than your natural life.

      • +2

        If and when we don't want them anymore will just give them away and the purchaser to pay transfer costs.

        Hopefully it'll be something someone will want to take on for free! If the yearly Levy went to $10,000 because the building was collapsing might be an issue.

  • Run!!!

  • +1

    Do not even consider it!

    Do yourself a favour and search out horror stories on YouTube or just search 'timeshare and Dave Ramsay'.

  • Would have to be a very specific reason to want it. They are expensive to buy, hard to sell, and cost to maintain. Plus you really want to holiday in the exact same time if year and place for the rest of your life?

  • Second hand is cheap for a reason.

    There is hardly a primary market for it so secondary market would be like a desert.

    Unless you are sure the time share is making money otherwise you might be delivering yourself into clutches of the beast.

  • I'd go looking for the critical reviews of Club Wyndham.

    Mum and Dad had one on the Gold Coast and had a good experience - but they'd bought many many years ago and used it every year up at Broadbeach. The timeshares had a piece of the building/land, which was effectivly beachfront so when developers bought it the location was worth a LOT more and they got money back out of it. I wouldn't bank on that though and I think they'd got in about 35 years earlier.

  • +2

    Each to their own, but I've never seen the attraction of timeshare - paying for something that you think you won but don't.

    Just rent a place and go on holiday.

  • You could look into Accor Vacation Club.
    They have a Facebook group where people are always selling memberships, sometimes for free.
    Head Office will do the membership transfer.

    My family used it for the last 15 years and and the properties were always great.
    I inherited a membership, but decided it wasn't for me.
    I did the numbers, and there's definitely savings to be made if you use it in the right way.

    • +2

      I inherited a membership, but decided it wasn't for me.

      The new timeshare arrangements are like that, the gift that keeps on giving even after death. You can't give it back even on death!

  • +2

    There are lots of timeshare companies, some work on points, some work on weeks, and some properties are worth more - so if your resort gave you a week each year, you might need to convert more than one week to get one week at a more popular resort.

    My parents bought a timeshare years ago; think the annual fees were about $700 - but the real problem was, when they went to book a holiday, you had to be very flexible where you went as it was so hard to get where you wanted. I always told them, it's much better to bank that $700 and go and holiday where you want.

    They recently managed to sell it , I think for about 3000 maybe. Think they paid 16,000 many years ago.

    • but the real problem was, when they went to book a holiday, you had to be very flexible where you went as it was so hard to get where you wanted

      Funny enough, all the popular times like school holidays etc are booked out, as that is when they can sell it to other people for real money.

      I always told them, it's much better to bank that $700 and go and holiday where you want.

      Agreed.

  • I somehow got on Wyndham phone list about 15 years ago. Farrk they were annoying. Never signed up to any of their presentations but they'd call every day for months then nothing for a year then it would start up again. The Do Not Call register didnt stop them. As soon as i heard Wyndham id just hang up without pleasantry.

    These ProductReview links have been 1 star for years. Youd have to be a moron to get involved with them.

    • It's best not to go those presentations not even for the reward. No matter how resistive you are, next thing you know you have bought something. They have got the best training on how to make people purchase.

      • +2

        I’ve actually been to two of them. $2 Burner sim and email and you won’t have a problem 😁

        In one of them I decided to test how far I could push them and kept asking questions on the numbers they were throwing out. By the time we were about halfway through they stopped letting me ask.

      • In my young and stupid days I received an invitation in the mail. I was entised with the free travel bag for attending the presentation. Listened to their 3 hour presentation and was so happy to get the free travel bag. Jokes on them I had no money and nothing better to do with my time.

        • You always have something better to do than listening to those d@#k heads.

  • +1

    As others have commented, there is a very good reason most timeshares sell for a fraction of what you pay and even then, they are usually rotten buys as the fees and rules "usually" stink, especially places like Wyndham, those free sales seminars with food and drink cost a lot as they are always running them, who do you think pays for that? They are a trap.

  • +3

    DO NOT EVER BUY TIMESHARES!!!! /thread

  • +1

    We were at the JW Marriott recently and for a $250 resort voucher, sat through 2 hours of a sales pitch for timeshare membership for Club Marriott. There is a sign up fee, a one time points fee (this tends to be a fairly large sum and payable as instalments)… AND annual points maintenance fee. The Marriott plan has another 47 years to run but it does expire and its my understanding that every timeshare program has an expiry date and is sold has a financial product that translates to a credit liability like every other financial product (i.e. there is a contractual obligation to make regular payments and the club you sign is a creditor to your finances). If you are a regular user of the hotels/properties, i think there is a calculation where the dollars may make sense, but you will have to be regular. Also, there is no such thing as a "cheap" timeshare sold secondhand, when people offload them, they are only able to sell their point allocation to you, but with it comes whatever unpaid upfront fee that is still outstanding plus the annual points maintenance that they have. You inherit the remaining terms of their contract.

  • +3

    RUN!!
    You may be entering into a 99 year agreement with annual fee increases.

    For the sake of it, let's just assume it was FREE, you are basically paying ANNUAL STRATA FEES equivalent to 1 weeks accommodation when booking ahead.
    But then there can be more fees, cleaning\service fees, maintenance fees,
    But that is while the property is young, wait till it ages, then further fees apply to cover the costs of critical repairs.

    BUYER BEWARE

  • I suppose if your happy to be locked in to going to the same place every year timeshares can work for some people. The yearly levy basically for a week's accommodation doesnt look like a bargin for a week's accommodation to me but depends on where you want to holiday.

  • +1

    @CatGrandma
    Post & ghost……
    Will you be buying?
    .

    • Not immediately, but I possibly will eventually. I did a little bit of number crunching and it seems like the cheapest way to do a week in Fiji every year/second year since the cash prices for accommodation on Denarau Island are a little crazy.

      • +1

        How can you do accurate number crunching when you have no base to predict future annual levies/fees?

        Sounds way too risky and I'd avoid if I were you.

        • nekkminit, Fiji coup, no one in and out
          .

  • +2

    Be aware the contract is for life, if you don't pay the fees, they will come for your home.

  • I overheard some of their sales team with an elderly couple in the cafe convincing them to remortgage their home for a timeshare with their free wine/smorgasbord. Says enough I think.

  • I've been trying to convince my dad to get rid of his Timeshare, but he's all in on the "we've been using it for thirty years, I'm not getting rid of it now" sunk-cost fallacy.

  • +1

    I honestly didn't know Timeshare still existed… I thought everyone knew to run away 20 years ago..

  • Yeah main disadvantage is having to pay "something" every year. Could put that money away and earn interest etc. Parents have had one for years and company was great. Unfortunately, not doing so great now. They pay something like $1500 levies/year and a fee when using. Might save $200 + $300 bucks on a week's accomodation.

  • A few years ago, I was gifted a Victorian timeshare for Christmas. Membership was $600, and maintenance fees were $550/yr. You get 7 days of accommodation at the timeshare resort, or you can transfer it to 7across to use at other resorts all over Australia.

    We like it.

    • +2

      You were gifted a timeshare? I would be running from the person trying to give it to me.

      $600+$550 is $1150 in the first year for 7 nights. $164 each. That's not bad, but now you're forced to use it or miss out. Travelling to the timeshare and associated costs aren't free.

      And that's before we get to the problem of most people trying to use the timeshare during specific times, like holidays and the new year period.

      Can you quit the timeshare whenever you like, with no penalties or difficulties?

      • The $600 included the first year of maintenance and a week of accommodation

        We have used it as a single family but the last few years we end up booking maybe 4-6 cabins/units between family and do big groups.

        If you don't use your annual week you 'bank it' to use at later years. You do have to book early and school holidays in Vic can be hard.

        As for the cancellation, not sure I'll have to check my paperwork

  • I was tricked into a timeshare sale session in Las Vegas with the promise of free show tickets. I wasted 3 hours of my time, yet I was about to get free show tickets at the end.

    Over there, I saw some families with 4 kids, where the parents timed the salesperson for two hours (promised listen time) and fed their kids with free food and drinks, and of course, at the end, they will not sign up for anything.

  • How, in this day and age does someone think that buying a timeshare is a viable option!?

    They're all pyramid schemes/scams that lock you into contracts that do nothing but cost you money.

  • +1

    There are businesses and help groups that specialise in helping people get out of timeshare contracts, especially Wyndham. That really should tell you all you need to know, if in doubt go and read some of the reviews. This is a predatory industry that relies on people not being well informed.

  • +1
Login or Join to leave a comment