What Timeshares Really Cost

Owning a Timeshare is much more than the monthly payment. Did you know you have to pay for:

  • Your share of the property taxes on “your” property?
  • Your share of HOA dues on “your” property?
  • Your share of any repairs?
  • Your share of any refurbishment, remodeling, or furniture replacement?
  • Your share of insurance on “your” property?

And then if you have the gall to want to use your “ownership” to actually take a vacation at a resort, they charge you to make a reservation to stay at “your” property!

Contracted Amount

If we had any wits about us after hours and hours of high-pressure sales tactics, and well past dinner (we had nothing to eat all day except the small snacks they offered — and they knew this — here’s the summary of the loan they offered us:

Number of Points Provided per Year: 14,000 (two weeks = “Elite” level)
Amount Financed: $88,609.50
Annual Percentage Rate: 15.22%
Finance Charge: $84,371.70
Total of Payments: $172,981.20
Total Interest Percentage: 95.217%

Were we insane? In a way, yes: we were exhausted and unable to understand what they were putting in front of us to sign! This is called “diminished capacity.”

What We Actually Paid

DateContract AmountActual PaidContract TotalTotal PaidExcess PaidNote
Mar. 201910974.8510974.8510974.8510974.85Down Payment
Apr. 201957.0057.0011031.8511031.85Unknown fee
Apr. 20191316.501316.5012348.3512348.35
May 20192700.922700.9215049.2715049.27Annual Fees*
May 20191316.501316.5016365.7716365.77
May 20192695.922695.9219061.6919061.69HOA fees??
Jun. 20191316.501316.5020378.1920378.19
Jul. 20191316.501316.5021694.6921694.69
Jul. 2019020000.0021694.6941694.6920000.00Prepayment
Jul. 20191316.501316.5023011.1943011.1920000.00
Aug. 2019112.25112.2523123.4443123.4420000.00Some fee or other
Sep. 20191316.501316.5024439.9444439.9420000.00
Oct. 20191316.501316.5025756.4445756.4420000.00
Nov. 20191316.501316.5027072.9447072.9420000.00
Nov. 20192816.502816.5029889.4449889.4420000.00Annual Dues
Nov. 20191960.621955.6231850.0651845.0620000.00Annual Fees*
Dec. 20191316.501316.5033166.5653161.5620000.00
Dec. 2019108.00108.0033274.5653269.5620000.00Some fee or other
Dec. 201922.9322.9333297.4953292.4920000.00Some fee or other
Jan. 20201316.501316.5034613.9954608.9920000.00
Feb. 20201316.501316.5035930.4955925.4920000.00
Mar. 20201316.501316.5037246.9957241.9920000.00
Apr. 20201316.501316.5038563.4958558.4920000.00
May 20201316.50039879.9958558.4918678.50We say "Wait a minute!" and start demanding answers
Jun. 20201316.50041196.4958558.4917362.00
Jun. 2020025.0041196.4958583.4917387.00A fee not disclosed or agreed to charged to credit card
Jul. 20201316.50042512.9958583.4916070.50
Aug. 20201316.50043829.4958583.4914754.00
Sep. 20201316.50045145.9958583.4913437.50
Oct. 20201316.50046462.4958583.4912121.00
Nov. 20201316.50047778.9958583.4910804.50
Dec. 20201316.50049095.4958583.499488.00FORECLOSURE INITIATED

*Annual Fees include Operating Fee, Reserve Fee, Real Estate Taxes, Club Dues, “Inventory Activation Fee” (one-time) and “Voluntary ARDA Fee”. (There are voluntary fees?! Sure …and they opt you in.)

Do You See the Outrage?

Hilton Grand Vacation Club foreclosed on us — they refused to look into the problems we pointed out and instead took away everything — even though we were $9,488.00 ahead in our payments.

Let That Sink In!

Next: Plus Timeshare Fees!