My husband and I were given a free stay by Westgate Resorts in Myrtle Beach, SC. We knew that there would be a timeshare presentation to attend, but was worth the free trip, at least we thought it was. We sat at the table with an enthusiastic young man and his “financial advisor” who worked together to get us a fair price and discount it as much as possible. Despite the many questions we asked they were never answered clearly. They made us feel like we were making a huge mistake if we decided not to buy that day! They failed to mention any kind of annual maintenance fees, fees for transferring my unused weeks to the next year, or what the actual cost of this purchase would be which I was absolutely floored by. We financed $44,000 and when we saw the insane interest rate of 15.9%, we decided to pay off a huge chunk ($30,000) so our investment would cost us less. We soon came to realize that we made a huge mistake allowing this company to convince us this was a real estate investment that would increase in value. In reality this purchase will have me and my family in debt for life. We will never stay with Westgate again, and I will advise the world that no one else should ever stay there. All they care about is the commission gained by the debt you will be walking away with, not only you, but your children too!
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