Nevada Timeshare License Practice Exam

What is the best way for a prospective purchaser to get a deal on a timeshare?

1. Purchase from a developer

2. Buy it from an existing owner

3. Bid at an auction

4. Wait for a seasonal sale

The correct answer is: Buy it from an existing owner

Buying a timeshare from an existing owner is often the best way for a prospective purchaser to secure a deal. This approach usually allows buyers to negotiate directly, often leading to lower prices compared to purchasing from a developer. Existing owners may be motivated to sell due to various personal reasons, such as financial constraints or lifestyle changes, which can result in more favorable pricing and terms for the buyer. Additionally, timeshares sold on the secondary market typically come at a fraction of the original price, reflecting the depreciation that occurs after the initial purchase. Existing owners might be willing to sell their timeshare for less than what they initially paid, particularly if they are eager to offload their commitment. Purchasing directly from a developer often involves paying retail prices, while auctions and seasonal sales may not guarantee the best value and can carry risks related to quality or future costs associated with the timeshare. Thus, buying from an existing owner presents an opportunity for significant cost savings and better deals.