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How to Successfully Get Out of a Timeshare During the Pandemic

How to Successfully Get Out of a Timeshare During the Pandemic

If you bought a timeshare and then changed your mind about it, you’re not alone. In fact, you might be part of the 85 percent of timeshare owners who regret their purchase.

And with the COVID-19 pandemic, that statistic might be even higher now. People’s ideas of travel, vacation, and safety have changed over the past year, and for many, timeshares are less appealing now than they were before. So what do you do when you need to get out of a timeshare during a pandemic?

Keep reading to find out!

The Realities of the Pandemic

People often buy timeshares as a way to travel to a regular spot for vacation. But during the pandemic, lots of timeshare owners found themselves unable to visit those spots. Or they might have felt pressured to visit because they were spending money on it, even though public health experts have warned against travel.

Staying at home and canceling travel plans are some of the best ways for individuals to help control the spread of COVID-19. If you’ve been following this safety advice, you might have come to the realization that you are not as interested in your timeshare as you once were.

This is normal and nothing to feel bad about. Plenty of people experience the same thing and decide to exit their timeshare agreements.

Can You Really Get Out of a Timeshare?

Yes, getting out of timeshare is possible. The difficulty and costs will depend on your contract and how long you’ve had it, but there is hope.

If you got the timeshare recently, things are relatively straightforward. You can check your contract to see how long the legal cancellation period is. It’ll likely be a matter of days or weeks.

If you’re past the cancellation period, there are still ways to get out of your timeshare. For example, you can sell it at a loss—the difference in price might sting at first, but at least you’ll be free from fees and commitments you no longer care about.

You can also donate your timeshare to an organization that will sell or auction it for a cause. Though you won’t make direct money from this, you’ll likely be able to use this as a tax deduction.

How to Get Out of a Timeshare

If you’re trying to cancel your timeshare agreement, it’s important to do it in writing. This is for at least two reasons.

First, you’ll want to document this cancellation as clearly as possible. If you do in writing, you can create copies and point to specific details you’ve included.

And second, trying to cancel a timeshare contract on the phone can open the door to more manipulation. The person on the other line might talk you out of your decision or intentionally confuse you. Writing a document instead will allow you to move forward with as little interference as possible.

If you think you’ll need some help doing this, you can contact a business dedicated to timeshare exits, like Companies like these can make sure your cancellation is watertight.

Get Your Life Back!

If you’ve been feeling trapped in a timeshare, you might feel bad about entering into an agreement with high costs and strict conditions. But you should know that many people are in the same situation. It’s the timeshare sellers’ job to convince as many people as possible to get timeshares, even if it’s against their best interests.

So go ahead and get out of a timeshare if it isn’t working for you anymore! And for more key life tips, check out the rest of this site.

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