Timeshare is a very flexible product. For those owners who may have enjoyed years of visiting the same resort but feel the need to move on, selling my timeshare may be something you might consider. On the other hand, if you have the option to exchange for another destination, this could prove an alternative to thinking about selling my timeshare. Is it that simple, though?
Know the Facts
Using an exchange company as an alternative to selling my timeshare can enable you to experience different types of holidays in different locations. In order to do this, you’ll need to inform yourself about everything that is involved with timeshare exchange.
The Exchange Company
Find out if your resort is affiliated with an exchange company, and speak to them about your options. Bear in mind that you have the right to use any exchange company, and you can even belong to more than one if you want to. As well as the big name companies, such as RCI and Interval International, there are other smaller independent exchange companies around, too. You can then choose who to deposit your week with.
You normally trade on points or weeks. Invariably, the more points you have, the greater your bargaining power, and the more in demand the time of year of your timeshare week, the better the options are that are open to you. Each exchange company has different rules about exchange value, so become acquainted with what these are. If you own a low season with low trading values, the exchange company may increase the value if you deposit early, or you may get a discount if you ask for a late booking.
Some timeshare owners decide to upgrade their ownership if their timeshare has a low trading value. Before you do this, make sure that this will be a financially viable option and that you get what you want for the extra money invested. In some cases, it might be worth just checking to see what other exchange companies can offer you before considering upgrading, as others may have rules that better suit your particular requirements.
The more flexible you can be with dates and locations, the greater your chance of exchange success. If you have specific dates or places in mind, then it is worth planning ahead as much as you can and requesting these with the exchange company at the earliest opportunity. If you can broaden the period that you can travel in, you may have access to a wider range of resorts. So unless you are tied down, try to be as flexible as possible. If there is nothing available for what you require, consider asking the exchange company to leave the search open. If you don’t mind waiting until the last minute, an opportunity may become available that suits your needs much closer to the time.
- Wednesday, 21 October 2015 07:19