My wife and I visited Tahiti Village in January simply because we were promised a gift certificate for dinner and a show. We initially had no interest in the property, but our interest was piqued during the presentation after we were told how we can trade our Tahiti Village weeks for weeks in places that we really want to visit.
The pitch was that Las Vegas is a sought after vacation spot, and that we can go to any place that is in the Interval International catalog. It was also implied in the presentation video and by the representative with whom we worked with that buying a Tahiti Village timeshare is a good investment because the real estate values in Las Vegas are always rising. We were told outright that we were buying a piece of the Las Vegas strip.
My wife and I were somewhat skeptical after the presentation, but were interested enough to talk to a representative. The person we worked with told us stories of all the wonderful places she had been, and she assured us that we could indeed trade our Tahiti Village timeshare for a week in any resort in the Interval International catalog. What she did not tell us is that it is extremely difficult, if not impossible, to find a free week at an Interval International property for which you can trade. What she also did not tell is that Tahiti Village rents out its units through Internet sites and it is very difficult to use the week to which an owner is entitled.
Notwithstanding our interest in the possibility of using a Tahiti Village timeshare to trade for weeks in interesting locations, my wife and I declined the offer because at the time, I was unemployed. We had no way of paying the down payment, nor did we feel safe about taking on additional debt. To the credit of the representative who worked with us, she politely accepted our decision.
Unfortunately, we made the mistake of mentioning that I was going to start a better-paying job in two weeks. The representative latched on to that thought and brought her supervisor in to see us. The supervisor then proceeded to launch into a high-pressure sales pitch. He went over the benefits of trading the timeshare. He produced a booklet and promised us six free trips to any location in the booklet. He told us that we could visit our unit at any time and that the expenses from that visit were tax-deductible (False). He told us that if at any time we wanted to sell our timeshare, it would be very easy to do so. I later found out that all of these claims are false.
Everything the supervisor told us seemed plausible, but money was still the sticking point. He offered us 10% down, with the remainder of the principal balance being paid off over the next 10 years at an APR of around 17%. When I pointed out that the interest rate was outrageous, he assured us that we could refinance the loan at any time. This was a false claim, as I later learned that banks and credit unions will NOT refinance timeshare loans. When I pointed out that we did not have any way to pay the down payment, he arranged for the payment to be delayed for four months. With that last barrier gone, we signed the papers.
Buying our timeshare was the BIGGEST mistake my wife and I have ever made. Tahiti Village misrepresented the availability of their own units, as well as the Interval International properties. They lured us with the promise of six free trips, which we later learned are not free at all. They lied to us out the tax benefits of owning their properties.
Their customer service is terrible-you have to call several times to resolve a problem and each time you call, the person you talk to never seems to know about your situation or previous calls. Worst of all, they lied when they promised that my high-interest timeshare loan can be refinanced. This last fact is crippling us economically.
Stay away from these scammers!
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