Las Vegas,

My Scooter, &

a Timeshare

Dick and I just came back from a week in Las Vegas.

We had a wonderful time, stayed in the timeshare we had traded for, and were just far enough out of the real hustle-bustle of Vegas to enjoy everything. 

We did take my electric scooter, so I could get around and we took full advantage of it every day we were there.  It has been a few years since I could comfortably walk around any amount, so we hit downtown and Freemont Street, and toured a few of the beautiful casinos, just looking around.  We did take in a couple of shows, and I want to tell you, don’t worry about your “chariot” because, to the people working there in Vegas, they are nothing new, and every convenience is available for you.  We even took the shuttle between a couple of the resorts, and it’s just an easy on and easy off even for that.  I thoroughly enjoyed the freedom my “go-go car” gave me.  Sure, I’m still looking for the “magic bullet” that will relieve my back pain, but until then, I love my little scooter!  It even comes apart and fits in our trunk easily – and takes Dick maybe 9 seconds to put together.

The main reason I decided to write this article is because while there, we did go to a timeshare presentation.  By putting in 90 minutes of our time, we got tickets to a Cirque du Soleil, for half price!  That is the reason most of the people attending the presentation were there – the presenters realize that – but they have really experienced, tough sellers now-a-days!

So, now my opinion about timeshares: 

Dick and I do have a timeshare – in the states – we paid $300 (cash) at a timeshare closeout sale – some 20+ years ago.

Our maintenance for the unit we own has just hit $200/year – and had not been raised for years (Extraordinarily low when compared to other maintenance fees that average $600+).  We still have the RCI membership, $89. a year, and we have to pay an exchange fee of $200. to stay anyplace other than where we bought – so, our yearly amount to spend a week (7 days) in a very nice resort averages just under $500 a year …and we are not even including the original cost – ours, $300 divided by probably 40 years, would be under $10 a year.  But, anything over that purchase price plus interest unless you’re paying cash – is a real big part of the overall expense.

You have to be realistic about how many years you’re going to use your timeshare – how old are you now?  About 55?  So, truthfully, you’re going to get less than 30 years use out of that “bargain” you were talked into buying.  Sure – you have a deed – we do too – biggety woop… that and a couple of bucks will buy you a decent cup of coffee. 

For example, over a 30 or 40 year time period of actually using this timeshare unit once a year, either using the actual unit you purchased or trading it for one in another location – if you paid $20,000 for your unit, you have to add to the $500 expense (with that unusually low maintenance fee) we already went over, the per-year price of $667 on the 30-year possibility, or $500 for the 40-year possibility – equaling a per-week cost of $1,167 for 30 years or $1,000 per week on the 40-year possibility – and that’s not including a possible $15,000 of interest (or more) if you finance.  So, for a grand total of $1,300 to $1,800 a week, you too can lay claim to a timeshare week.

And if you don’t finance, but pay cash – look at the interest you would accrue in 30 years on that amount!! You loose all that! And at the end of 30 or 40 years, you do end up with that deed to…well, take a look at some of the old timeshare locations in the books – they end up pretty tired and worn out.  And I can guarantee your maintenance amount will only go up…

After all of that – do Dick and I enjoy our week each year?  Yes.  Would we be able to stay in such luxury if we hadn’t fallen in X and came up smelling like a rose?  Nope – but, we probably would once in a while.  Would we miss not having a timeshare – Nope.  Are we glad some people don’t really care about the cost and just want to buy?  Yep, we love them – they finance the lovely places we stay at.  Can we stay at the timeshare we bought so long ago?  Sure – but we’ve called two times, intending to go back and visit, and there were no vacancies at the times we wanted…so it’s a popular location. 

Now, if you can rectify those costs against putting the same amount into a savings account and retiring quite well, and using the money wherever and however you want, then timeshare is for you.  Or, perhaps you don’t need to worry financially – good for you – go for it!

An argument the salesmen will give you – you will pay over that amount just for plain old motel rooms – well, first of all, we don’t – you can find coupons for almost any motel/hotel.  We don’t feel we have to stay in 5-star facilities just to sleep – but, we try never to stay in anything less than a 3-star facility.  – and again – we search for the deals.  But, if you can find a timeshare at the cost we did – more power to you!!!  Just make sure the maintenance fee is reasonable.

Now – to the actual ownership – you must ask how that is handled at each different timeshare you look at.  Some are deeds, some are not.  Ours is a fee simple – deed – actual ownership (of what?  a room -  in a resort that gets older each year, remember) so, don’t expect to get rich selling it – they’re on Ebay all the time and there are lots and lots of timeshare re-sales out there. 

I’m not a realtor, nor a financial advisor – just do what seems to be the best for you on a timeshare, whether in Florida or Vegas, and enjoy…but, don’t even get me started on the point system!

Vegas, Timeshare, Scooter, article by Barbie.