Bluegreen and other timeshare sellers use illusion and deception to trick you into purchasing. They make you believe what you spend on vacations yearly is a waste of money. That's a lie because there are hidden things you do not see in the sales pitch. Let me highlight what you're missing between the lines.
1) There is no maintenance fees or a contract with your yearly spending nor customer service issues.
2) EXAMPLE: If your monthly payment is let say 125.00 monthly. Only 35.00 is going toward your payment and the rest is paid toward your interest. (Bad move) you will be paying three times the cost of your time share after its all said and done. ( that's with any loan) those who know interest earn it, those who don't pay it.
3) if maintenance fees are not paid. Your privileges are suspended and interest is added until the unpaid balance is paid and it is reported to the credit bureau affecting your credit and score. There is only one advantage to buying if you do buy and you have fair credit. (You can receive a credit score boost, because your credit report will show a mortgage being paid on your credit report. That's it).
4) Bonus points and regular points are usually mixed when they are used by you. EXAMPLE: They will pull from your new points earned instead of using points that are about to expire. When this happen you could lose your expired points along with you newly earned points. Make sure you are sure which stock pile of points they are applying to your vacation and check your account monthly.
5) unless you buy there high end package you will rarely get your dates and a resort where you want to spend your vacation. Eventually the herd you into a lane as a non user stuck with a timeshare you can not use and you end up upside down when you try to sell, settling for pennies on the dollar if you are lucky enough to sell and you will still owe them money that you will pay or ruin your credit. Interest is also charged on the unpaid balance. TRANSLATED: You will still have paid them what they wanted for the time share and still retain possession of the asset.
Product or Service Mentioned: Bluegreen Resorts Vacation Ownership.
Monetary Loss: $25000.