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I stupidly bought a timeshare deal, financing it17% interest. Can i cut my losses with a lower int. loan? How?


I have called them to cancel, but of course , they told me its too late since i waited past 10 days. It was a real stupid decision (though they made it sound like an investment - maybe it is? i dont really know), but i have accepted my humaness and want to move on. I was hoping to put it on a low interest card but not sure how to go about it. I really need advice. Its about 12,500 bucks (how stupid). My credit is good. can i get better loans out there?

If you really have decided that you don't want the timeshare, why don't you put it up for sale with a brokering company that specializes in them. There's a great one called Timeshares Only that promises that you can have it sold quickly. Some people have even testified that they had it sold before their next month's payment was due.

I did the same thing. They told me at the presentation most people get a personal loan because of the high interest rate no bank would touch the loan given my credit score. I finally went to my credit union and got a loan.

With good credit, and such a small amount of money, you should be able to get financing from somewhere. Timeshares are real estate, after all. Visit your local bank or credit union (especially), and see if they can work with you.

Why not just sell it off?

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