How much would you pay for an annually recurring week-long vacation? Does a $22,000 price tag with 14% interest and an additional $970 fee each year sound like a good deal?
It shouldn’t, but those numbers are standard in the timeshare industry, according to the American Resort Development Association (ARDA). While many timeshare resorts tell potential buyers that they’ll save money over time, simple math shows that those promises just don’t add up. Timeshare resorts assure travelers convenient recurring trips, but in the age of the sharing economy where affordable short-term rentals are available, the arrangement makes less sense.