-Bluegreen is a company built on selling timeshares.
-Bluegreen is a growing company that is expanding its footprint throughout the continental U.S. and also through its subcontracting with other timeshare groups worldwide.
-The Bluegreen sales team is a professional staff who earn their livelihood through the sale of timeshares. Do not underestimate the sales team. They hone their craft hundreds of times a day, 7 days a week.
-Bluegreen is a predatory company. They lure potential owners to their sales meeting with a variety of free gifts. These free gifts cost money. Guess who is paying for these free gifts? Yes, you, the owners of Bluegreen property.
-Bluegreen is predatory in the fact that they do not run a credit check on potential owners. I understand credit checks cost money, but they play on your emotions, like any good salesman, to lure you in, but if you can produce the 20% down payment and sign your name on the dotted line, you are an owner. Who cares if you are barely making your mortgage payment or have a credit card debt of over 10k, you NEED a vacation plan!
-You must complete the deal on the day of your visit or you will not be eligible for additional benefits. If the deal is legitimate why won't they let me take the contract home, or have a professional financial consultant review the contract before I sign? They won't allow you to do this because the deal really is too good to be true!
-Bluegreen finances their own sales, how convenient. They do offer 30 days same as cash, but if you can't come up with the 25+ thousand dollars that day, you are forced to use Bluegreen financing. Even rip off car dealers give you the option of using your own financing, AT the time of sale, not after.
-Did I mention that you are forced to use Bluegreen financing and you have to sign TODAY to be eligible for the 'special' deal? Well did I also mention 15.9%. Yes people, you will be paying 15.9% interest for your timeshare.
-Math doesn't lie.
$26,000 for the timeshare.
$ 5,200 down payment
$20,800 financed @ 15.9%
$ 424 monthly payment for 84 months
=$35,616 total or $14,816 in interest paid on the $20,800 financed.
-Oh and I failed to mention the YEARLY maintenance fees. They range between $500 and $1,000 dollars PER YEAR on top of your $424 monthly payment....
-Take a guess where the money for the "free" vacations offered to potential owners is coming from. I would bet it comes out of the $14,816 in interest paid by its OWNERS!
-As an owner how do you feel about footing the bill for the "free" gifts and "free" vacations offered to people who probably can't afford to own a timeshare? This is your money paying for the resorts and gift cards and meals to people who can't come up with the down payment or who do not buy into the company. YOUR MONEY!
-Since there isn't any tangible property involved, what happens if an owner defaults on it's contract? The owner will still be responsible for paying the debt but will not be able to use the timeshare program until they are 'current' in their payment. Money for nothing....
It is what it is....
-If you are a frugal consumer you obviously won't pay the 15.9% interest to Bluegreen.
-If you are a smart investor you may want to consider Bluegreen.....
WHY you ask....
-If you use the 30 days same as cash and get a good interest rate from a REPUTABLE lender, you probably have enough money to afford the timeshare and will be able to afford to use it when you want to.
-With Bluegreen targeting people who probably can't afford to use the program the company is getting money to expand its footprint with new property on the heels of ripping off under informed consumers.
-These same people who can't afford to pay for the entire program will NOT be competing against you for vacation time, giving you a better opportunity to get the location/date you desire.
I sat through the 3+ hour presentation on the heels of a 3 night stay in Myrtle Beach. I asked the tough questions detailed above. Both the sales person and 'manager' who assisted me were 'surprised' by my questions. The two had a combined 7 years experience selling Bluegreen property yet I was able to ask 5 or 6 questions that stumped them. This alone tells me that the average person who sits through a Bluegreen presentation should not be considering buying a timeshare. They were victims of predatory sales.
Thank you Bluegreen for my 3 nights in Myrtle Beach for $150.00 and the gift cards to boot. I did not purchase a timeshare but I did get an education on what to look for and what to ask if I ever should find myself in the market for a timeshare.
Product or Service Mentioned: Bluegreen Resorts Vacation Ownership.