Know Your Timeshare Rights
Three important things for you to know:
#1: Your cancellation rights Your right to cancel after signing the contract.
#2: Arbitration opt-out Check your contract language to see if you can opt-out of arbitration.
#3: Your legal remedies for illegal or deceitful timeshare sales In Hawaii, any timeshare sale made in violation of any of the state’s timeshare law allows the buyer to declare the sale voided. See if other states have similar protections for sales that were deceptive, improper or illegal.
Learn about your rights under timeshare laws, how to file complaints and more. Click on your state.
The Story of Buyer #1
The Skeptical Buyer’s Calculator
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QUESTIONS TO ASK YOURSELF
- Wouldn’t it be cheaper, less complicated and more flexible to pay cash and use online travel sites for my vacation plans?
- What benefits are there to timeshares with locked-in yearly mandatory fees, limited resort networks, initiation fees, and program rules restrictions?
- How much am I really paying for a vacation if I include ALL the costs, taxes, fees and loan interests applicable to my Diamond membership?
- Is my Diamond timeshare membership and yearly maintenance fee obligation life-long?
- What if I want to get out? Are there viable options to get rid of a timeshare financial obligation?
- Did I comparison shop before committing to such a long-term financial obligation? Could Hilton, Marriott, RCI or Wyndham provide better timeshare deals?
- Why are sales presentation used to sell timeshares?
- If there is a special assessment fee and I can’t afford to pay it, what can I do?
- What’s the cash equivalent conversion rate of my Diamond points for room nights, maintenance fees or other travel purchases like flights, cruises or car rentals?
QUESTIONS TO ASK YOUR DIAMOND RESORTS SALESPERSON
- Will you put your oral promises and representations to me in writing?
- How much will I pay annually in maintenance fees, taxes, club fees, interest expense, financing and other costs?
- Will I be able to access and use the Diamond reservation system within 7 days after signing the contract?
- Which Diamond “Collection” am I buying into and can I use my points at resorts outside my Collection without extra cost or procedure?
- What’s the maximum annual percentage increase of maintenance fees allowed for my timeshare?
- Are there Diamond “loyalty levels”? If so, which would I be eligible for?
- What are the benefits and restrictions for each loyalty level?
- If my loyalty level doesn’t include a benefit you represented to me, what do I have to do to get it?
- If I use points to pay yearly maintenance fees, what is the exchange rate of points to cash?
- THE Sampler: is there down payment, waiting period, stay requirement or other restrictions?
- If I want to rollover unused points year to year, are there lead-time restrictions or cost? Is it automatic?
- What’s the difference between Diamond’s right-to-use points vs. deeded real estate timeshare?
- If I’m allowed to use Diamond points to book flights, cruises or rental cars, is it cheaper than paying cash?
- Will I be able to refinance my Diamond loan with a loan from a lender? What if I try but the banks refuse? How does Diamond’s finance interest rate compare to current market rate?
- What is the foreclosure rate of Diamond timeshare owners’ interest or loans?
- How many of the foreclosures are bought and resold by Diamond?
- Does Diamond allow me to advertise and rent my timeshare for cash to the public if I’m not using it for myself?
- Can I leave the sales presentation after I fulfilled my minimum time obligation?