ED Magedson – Founder
Monarch Grand Resorts aka Diamond Resorts International Ripoff Alert - Worst Financial Decision of my Life multiple cities Nationwide
Purchasing a timeshare was the worst financial mistake of my life. In this case, we chose Monarch Grand Vacations, subsequently acquired by Diamond Resorts International.
The resort where we had our initial vacation and bought our timeshare - Cabo San Lucas - was nice enough. Whenever we inquired about subsequent availability - nothing nothing nothing. Unless, of course, you'd like to go to desert-hot Cabo in August. Which we did not!
Over the next three years, I paid the steadily increasing quarterly maintenance, but never went back to any of their resorts. (I did manage to sell one of our annual slots to another vacationer for a modest sum). Finally, after four agonizing years, I managed to re-sell the timeshare for about one fifth of the total money we had spent to date. That's right, less than 20%.
The following comments reflect our specific experience with Monarch and Diamond but may apply to many other timeshare companies as well.
Be VERY careful in considering a timeshare purchase. The sales pitch is slick and high-pressure, the costs are steep, and (like a drunken bar pickup) it probably won't look as good when you wake up the next morning! For the price you'll pay (both up front and ongoing) you can probably take yourself on a luxury vacation of your choice - twice as frequently.
I wish I could spend the time recounting every detail of this miserable misadventure. But I promised myself, if I ever sold my timeshare, I would warn other people about this deceptive and deceitful industry. You've been warned!
This report was posted on Ripoff Report on 06/15/2014 03:16 PM and is a permanent record located here: http://www.ripoffreport.com/reports/monarch-grand-resorts/nationwide/monarch-grand-resorts-aka-diamond-resorts-international-ripoff-alert-worst-financial-de-1154994. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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