Signing a Timeshare Contract
Beware when signing a timeshare contract. There are some things you should know when considering a timeshare about fees and having the contract reviewed by a lawyer.
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(NC)- "Timeshares and vacation clubs can be a great choice for travelers who want to plan and pay for vacations in advance" says Chris Ferguson, Director of the Consumer Protection Branch, Ministry of Government and Consumer Services. But, Ferguson observes, many consumers run into trouble by signing deals without understanding them.
"Smart consumers never sign any timeshare contract without taking the time to consider every detail carefully" he says. In fact, having the contract reviewed by a lawyer may be the best way to go, as these deals can be complicated.
"Never give in to high pressure sales techniques," Ferguson cautions, "and remember, you can cancel a timeshare contract and get your deposit refunded for up to 10 days after signing. You don't need any reason -- you can simply change your mind."
Consumer protection officials tell timeshare buyers to be honest about their "vacation lifestyles." Ferguson says, "Be sure that you plan to use the times share regularly. Ask yourself if you are likely to need last-minute changes to your plans, and can the timeshare meet that need?" Many consumers are misled by sales hype promising easy exchanges with other timeshare owners -- promises that don't always come true. Ask about flexible-use plans and check for any limits on your right to exchange timeshare dates with other owners.
Check maintenance fees and other costs carefully: they add up and can increase over time. Never rely on verbal promises -- get everything in writing in the contract. Timeshare contracts are required by law to include certain key information -- including itemized costs -- and consumers can cancel the contract for up to year after signing if they find out that key information is missing from the contract.
For more information about your rights under Ontario's consumer protection legislation, or to check the Consumer Beware List, go to www.ontario.ca/consumerprotection or call toll-free 1 866-351-5655.
- News Canada