How To Get Rid Of A Timeshare – Stop Wasting Your Money!

Every once in a while I get a question from a reader about how to get rid of a timeshare. Sometimes the person is asking for themselves, but other times, they are trying to help a friend or family member. The problem is that timeshares aren’t as amazing as the salesperson claims they are. They…

Michelle Schroeder-Gardner

Last Updated: April 7, 2025

Disclosure: This post may contain affiliate links, meaning if you decide to make a purchase via my links, I may earn a commission at no additional cost to you. See my disclosure for more info.

Every once in a while I get a question from a reader about how to get rid of a timeshare. Sometimes the person is asking for themselves, but other times, they are trying to help a friend or family member.

The problem is that timeshares aren’t as amazing as the salesperson claims they are. They are expensive, you probably won’t use them as much as you think, timeshare resale values are incredibly low making them hard to sell, and more. 

So, if you have been thinking about purchasing a timeshare or if you are wondering how to get rid of a timeshare, today’s article is for you.

Many adults have attended a timeshare presentation, and even more have been asked to attend one. You are usually offered something if you stay the whole time, such as a free vacation, an iPad, a cruise, or something else that is quite enticing. And, that’s how they get you interested.

All you have to do is listen to the presentation and get your free gift. Sounds simple enough, right?

But, after sitting through the timeshare presentation and listening to the salesperson talk  about all the “benefits” of owning a timeshare, you may be intrigued.

Even though you told yourself that you weren’t going to purchase anything, the salesperson is well-trained and you can’t resist something that seems like such a good deal. 

Many people cannot say no in these situations, and that is why around 10,000,000 households in the United States own a timeshare.

I had no idea that the timeshare business was this large. Maybe I’m missing something, but the negatives that I’m going to explain in this article seem to significantly outweigh the positives. I’m honestly shocked that there are that many timeshare owners out there, and many sadly end up regretting their purchase.

One of the issues with timeshares is that there are different types, some of which you pay for but never actually own. Those are called non-deeded timeshares, and they fall into two categories:

  • Right-to-use systems- You sign a lease from anywhere from 20 to 99 years and pay for the right to use the timeshare. It would be very difficult to sell something you never own.
  • Points-based system- You purchase points each year to trade for reservations at different properties owned by a timeshare company. Some companies let you “bank” points that can be rolled over to another year.

There are also timeshares called deeded timeshares. With these ones you share ownership of the timeshare with other people. These usually fall into two categories:

  • Fixed-week system- You get to use the timeshare for the same specific week each year. That means you will have to be available that same week every year.
  • Floating-week system– Same as above, but the difference is that you get to pick the week you use your timeshare. You may compete with other people for busy weeks or seasons.

Lately, I’ve been hearing about more and more people buying timeshares. It’s been brought up by my readers, in my Facebook group, and by my friends. But, at the same time, I have seen more and more people asking how to get rid of a timeshare.

Someone I know spent $15,000 on a timeshare. I know of another person who has bought multiple timeshares with their student loans. 

I also once read a post on Facebook that said, “Please, help me sell my timeshare!” This person was trying to sell their timeshare for $1 and there weren’t any offers yet. They were looking to Facebook as a last resort and wanted friends to share their post.

Sure, I have an open mind and perhaps sometimes timeshares are an okay idea, so I won’t completely discredit them. However, I’ve never met someone who bought a timeshare and was happy with their purchase years down the line.

I’ve only heard horror stories about timeshares.

Due to this, I’ve never really understood the appeal of timeshares.

And I’m not sure I ever will.

I’m not writing this post to offend anyone. Like I said, I’m sure there are cases that exist where someone has found a great deal on a timeshare and they know they’re going to actually use it. I won’t ignore the possibility of that. However, I know that each and every year many people buy timeshares thinking they are a great deal when in reality most of the time they are not.

Related content:

In today’s post, I’m going to talk about why you should skip the timeshare, as well as what to do if you already own one and are looking for a timeshare exit.

Below are 5 reasons not to buy a timeshare.

1. Timeshares are expensive from Day 1.

Timeshares are expensive.

Even the people who’ve bought them told me that their number one hesitation was price, and it goes beyond the upfront cost.

Actually, many people end up taking loans out for their timeshares. This means that your timeshare might end up costing two or even three times the cost over the duration of the loan due to interest.

If you are buying a timeshare, then the cost of owning one is the main upfront costs being the lump sum price you pay to “buy” it. Then, there are also the interest fees if you are using a loan to buy your timeshare and also closing costs.

According to the American Resort Development Association, the average price for a one week timeshare is approximately $21,455, with an average annual maintenance fee of around $1,000 on top of that.

That is a lot of money. No wonder so many people want to learn how to get rid of a timeshare.

2. Timeshares have expensive annual maintenance fees.

Maintenance fees are something that you’ll have to pay if you own a timeshare, and you’ll pay them every year for as long as you own the timeshare. This annual fee is to pay for the cost of operating the resort. This covers the general upkeep up the timeshare property, landscaping, utilities, staffing, plus more for future upgrades and repairs. 

As I said earlier, the average annual maintenance fee on a timeshare is around $1,000, and in many cases it can be over $1,000 a year depending on your timeshare agreement. I did some research and found some timeshares that had annual maintenance fees of over $2,000 a year.

Maintenance fees need to be paid year after year, regardless if you use the property or not. If you stop paying them, the resort your timeshare is at can begin the collections process. This can cause long-term negative effects to your credit score and finances. 

Also, the annual maintenance fee can increase over time as well, in many cases, at a rate that is higher than inflation. It can more than double in just a few years, and there is no cap on how high a resort or timeshare company can raise your rates.

This is the number one reason that so many people want to learn how to get rid of a timeshare.

 

3. Timeshares are near impossible to sell.

If you want to learn how to get rid of your timeshare because of the high annual cost, you are tired of paying monthly payments on your loan, or if you simply just aren’t using the timeshare, you will have a hard time selling it.

Timeshares do not appreciate like normal property does. This is another reason I do not think they are suitable for the average household.

You know that person that I said was on Facebook trying to sell their timeshare for $1? That is not uncommon at all.

If you do a quick search online, you will find hundreds of timeshares going for just $1. 

If they are such a great deal, why are people trying so hard to get rid of them?

Like I said, the number one reason that people want to sell their timeshares is because of rising maintenance fees. You hear one price when you are sold your timeshare, but the costs keep increasing making it harder and harder to budget for. 

This is why people want to sell their timeshares for so cheap – anything to get out of the constant and increasing costs.

Because there are so many people trying to sell timeshares without any luck, there are companies popping up all over the internet claiming to help people get out of timeshares. However, many of these companies are scammers. This presents another danger to consumers who have purchased a timeshare.

4. You may not use the timeshare as much as you think.

When you purchase a timeshare you probably think that you’re going to use it every single year. You might even laugh at someone who says you’ll eventually want to learn how to get out of a timeshare.

You tell them and yourself it will be an easy way to go on an inexpensive vacation and that you’ll actually save money. However, there are many reasons why you might not use your timeshare every year, which then becomes a waste of your money.

Maybe you have a bad income year and can’t afford to travel to your timeshare, an emergency comes up, you want to take a vacation somewhere else, etc.

And, whether you use your timeshare or not, maintenance fees need to be paid year after year.

For every year that you don’t use your timeshare, that’s more money you’ve invested in it with no return, not even a fun vacation. Really, there are much better ways you could have invested your money.

5. You have plenty of other options for your vacation.

Timeshare salespeople try to find buyers by claiming that timeshares are a great way to save money on a vacation. They tell you that every year you’re going to be able to visit this beautiful place and that it will actually save you money.

I do not understand that.

Spending $20,000 or more on a timeshare where you only get around one week annually seems very expensive. In some cases you may struggle to get the week of your choice. And, don’t forget the maintenance costs!

There are PLENTY of ways to go on a more affordable vacation. You could shop around for the best prices on hotels and flights, use credit card rewards, visit during the off season, bundle your trip, and more. I’m sure you could spend less on an annual vacation than what it would cost to own a timeshare.

Plus, if you are still wanting the “timeshare feel,” you can rent timeshares from other owners for a FRACTION of what they have paid. You can usually find them for a couple hundred dollars per week, whereas the owner is still paying the maintenance fees each year that are most likely twice or three times as much.

Related articles: 

Have you ever been to a timeshare presentation? What do you think of timeshares?


Filed under:

Michelle Schroeder-Gardner

Author: Michelle Schroeder-Gardner

Hey! I’m Michelle Schroeder-Gardner and I am the founder of Making Sense of Cents. I’m passionate about all things personal finance, side hustles, making extra money, and online businesses. I have been featured in major publications such as Forbes, CNBC, Time, and Business Insider. Learn more here.

Like this article?

Join the Conversation

Leave a Reply

Your email address will not be published. Required fields are marked *

  1. Jose D

    Thanks for the great article on timeshares. We got “caught up” in the moment and bought a timeshare years ago. Then we repurchased to get into a points system with the same company. It worked for us and continues to allow us to take exotic vacations at a price that we couldn’t afford otherwise. The problem with this timeshare company is their intrusive sales behavior prior to and once you get to the resort. They waste your vacation time by attempting to get you to a presentation. I don’t like that I’ve become a horrible image of myself when we check-in. I usually get defensive, rude, and combative at check-in because I’m tired of pushy sales. The company is really stupid to think that an “owner” will buy more “time” at a one hour presentation. There’s no warm up or lead. It’s like proposing on the first date and expecting a yes. They want “wham, bam, thank you ma’am and close.” The worst part is that once you say “No!” several times, they give up and treat you like crap on the way out. They are willing to pay up to $300 to disrespect you, take you for an idiot and treat you like s**t on the way out. One moron even asked me to put my kid’s college tuition on hold to buy more. I was about to put his conciousness on hold if it hadn’t been for my more reasonable wife. My advice is dont do it. Back when I bought, it was a good deal in a system that worked. Now it’s a scam and the value is not there.

    1. Jennifer

      Though we enjoy our timeshare, Jose, I’d have to say your comment made me laugh because we’ve had more than our share of ‘presentations’ ending up like yours. BUT they keep calling us in for more AND keep paying us to listen for an hour so we’ll keep playing their game. They ‘reward’ us with a Visa prepaid card (usually $100 so not bad for an hour). There have been some occasions where we do learn new things about the company. And most of the time there have been many lies from the sales people so I don’t like that it can be difficult to navigate through them if someone is a newbie. We bought 8k points/every other year for a mere $5k in 1999 & another 8k for every year for $10k (too much TBH) in 2014. It’s quite common for one to buy in for $10-$15k for 10k points/yr–way too much in my opinion. So I think we are the exception to the norm. These points usually give us about 5 days beachfront red season yearly & a week beachfront red season every other year. But we only go on a 7-10 day vacation yearly right now. Otherwise a long weekend here or there with the trailer. So it’s fine for now. Thank you Michelle for opening up a dialog about this. We enjoy ours but as always in life, buyer beware. Educate yourselves.

  2. MikeM

    Google newsfeed

  3. Tanja L.

    I think timeshares are very unique to USA. In Germany you usually don’t get any time shares. Also, I never heared of anybody buying one. Why would you if renting is usually so much cheaper? 1000$+ a year means you pay at least 1000$ for the vacation. You also could rent an apartment for that money.

  4. Marc

    Your article is pretty spot on, but you didn’t mention that many unhappy timeshare owners can simply contact their resort’s “give back” or “deed back” department and get rid of their timeshare for free or at a much lower cost than what a company like Newton Group Transfers charges.

    For example, if you own a paid in full Wyndham or Diamond timeshare, you can simply call your timeshare resort developer and they will take the timeshare back. Sometimes these resort developers will even pay you to take the timeshare back. Companies like Newton Group Transfers will charge you several thousand dollars to do the same thing that you could have easily done yourself.

    This post:

    https://www.timeshareexitcompanies.com/how-to-get-rid-of-a-timeshare-legally/

    has links to the “deed back” departments of many of the largest timeshare develops so owners know what number to call if they want to get rid of their timeshare.

  5. Eileen Benson

    I found it helpful when you said that there are plenty of ways to spend less on a yearly vacation that we do on a timeshare, such as shopping for deals and bundles. My husband and I have been on the fence about selling our timeshare because we really enjoy traveling together. Your article helped me see that we wouldn’t have to sacrifice our vacation if we choose to use a timeshare resale service!

  6. Hey Michelle,

    I see the naysay-against-timeshare topics a lot on Google. My wife and I own a large amount of timeshare points (several weeks worth each year) and instead of using the points, we rent them out to other people.

    We make far more than the annual fees, usually 3-4x because our points allow us to rent out hot weeks.

    Since the timeshare company owns the property, we do nothing but pay annual maintenance and set up our renters each year.

    Would you still consider this a poor reason to hold a timeshare? There was a lot of management issues for us holding real estate and renting it out – it seemed like a much better idea to have a vacation timeshare that we could use when we wanted and profit off of when we didn’t.

    Any thoughts? Definitely curious your perspective.

    -Bo

  7. Donna

    I think I saw a post that gave the name of who to call to get rid of a timeshare before. Can you give me the name of that company. Thanks