what's up family this is kaden with
urban finance i almost got caught in a
vacation club scam in my trip to jamaica
and we'll talk about that in this video
the details are important and i'll put
scam in quotation marks because it's not
technically an illegal business it's
just very scammy so my wife and i took a
trip to jamaica maybe two at most three
weeks ago and we had an amazing time
maybe i'll put some pictures and videos
up so you can
watch that as i talk about my experience
with the vacation club what it is how
it's different from a timed share and
how did the concierge that kind of
walked up to the beach and made this
proposal to us how that all went down
and so the only reason that i went to
the presentation is that they told us
that we can get a free candlelight
dinner just by attending the
presentation now we already plan to do
the candlelight dinner it did cost 120
and i figured you know two hours of my
time why not plus i'm into this type of
stuff i would love to sit through the
presentation anyways first red flag and
the thing that i'll be honest kind of
got me mad is that when we got there to
attend the presentation he mentioned
that oh there was some issue with the
resort and they could no longer do the
candlelight dinner for free but they can
give us 75
off i said hey 75 off i'm not happy
about the fact that i feel lied to
because he told me that it was gonna be
free and i can tell his reasonings were
bs but i said okay why not i said yes i
didn't tell him i'm gonna continue with
it because i plan to do a candlelight
dinner anyways but you know i said okay
i'll just have to pay 35
for a candlelight dinner that would cost
me 125 before going to the presentation
my wife and i did agree that no matter
what they present to us and no matter
how good it sounds we are not buying
anything we're not purchasing anything
we are only going to this to get our
free candlelight dinner and so i would
say that two hour presentation turned
into three hours and so that's another
downside to this whole vacation club
thing you know they misled us on the
time but i probably knew that regardless
of the experience whether it was a good
one or a bad one that i will be talking
about it on my channel so you know that
was another incentive for me to attend
the presentation it turns out when we
attended the presentation the concierge
that we saw and asked us if we wanted to
you know pretty much sit through this
presentation wasn't actually the
salesperson he just did the lead
generation for the company that was
promoting this
very adamant about it not being a time
share a vacation club so let's call it a
vacation club even though there are a
lot of similarities to a timeshare the
salesperson was actually a young lady
she was very nice polite and a pretty
good sales person in general she took us
on a tour of a resort and took us to
their ruby suite and was pretty much
like you know sometimes when you have a
travel agent they don't always purchase
the best rooms but with this vacation
clubs you'll always get the best rooms
and i will admit that the room that she
did show us for me looked a lot better
than the room that we were currently
staying we had a nice room but the room
that she showed us it was on point my
wife wasn't impressed with the room like
i was she was just thinking yeah you
know we're here i love that woman so to
make a two-hour presentation what they
told us or three-hour presentation into
potentially a 10 minutes video where you
can be informed and get the information
you need in regarding a time share or a
vacation club yes they were very adamant
that it was not a time shift and here is
why i call it a scam even though it is
just a illegal entity that people are
just doing their jobs no offense to the
sales person like i said she was a very
nice young lady and if she ever sees
this video you know it was a great
presentation she did her job really well
if her bosses see this you have an
amazing salesperson
the reason that i call it a scam is
because throughout the presentation they
kept mentioning a one-time fee so to in
order to be a member of this vacation
club you just have to have a one-time
fee and you'll get access to all of our
resorts and they showed us the resorts
around the world and it was like okay
these are nice resorts and so they were
clear that you know even after paying
the one-time fee it was not going to be
free but say a vacation that would
normally cost you five thousand dollars
you're no longer paying for the state
and things like to rent a room you're
just gonna play for the food because
most of it were all inclusive resorts
and so let's say for a 5 000 vacation
will just cost you 2 000
for the food after paying the one-time
fee and so in my head i was thinking
that maybe the one-time fee was about
ten thousand dollars maybe seventeen
thousand dollars because that's what you
can expect with a time share a fee of
about seventeen thousand dollars to you
know get your room in this resort where
you can travel to occasionally sometimes
in the year their blackout dates and
things like that the one time feat was
75
000
yes you heard me right the one-time fee
they kept mentioning is 75 000
now
i'll be honest i technically we
technically could potentially pay that
one-time fee of 75 000 in cash there's
no way that we would do that but i know
for a fact that most people don't have
75 000
just sitting around to pay a one-time
fee
and so if you can't pay the one-time fee
then that's fine they will finance it to
you and you will pay over the course of
10 years the 75
at a 9
interest rate and i think that for me
was the biggest scam ever that was the
biggest part it wasn't even as much the
75 000
as the 9
interest rate on 75 000
that is absolutely insane to me that
anyone would actually pay that type of
interest on 75 000
and this begs the question there are so
many people out there that do not know
how much interest nine percent is
and will actually get into this thing
thinking that they're getting a deal
and so after we told them no they say
okay then don't do the 10-year plan do a
five-year plan do a three-year plan and
so we said no no no no no throughout
most of it and i think that's the big
the the huge part of the scam they won
they tell you it's a one-time fee then
tell you that one-time fee is an
astronomical amount that you can't pay
in one time and that you'll have a
payment plan to finance it if you can't
pay that 75 000 i think that part of it
was very scammy to me let me know your
thoughts in the comment section below
does that sound scary and on top of that
even after you pay your 75 000 it's not
like it's free to go to these resorts
you're still paying for food on your
expenses will still come up to maybe 20
would have originally be and on top of
that because now you're financing this
thing you're paying about a thousand
dollars a month for probably 10 years in
order to pay off this 75 000
and what i believe that will happen with
most people is that after in that high
intense sales pressure environment they
sign up for this vacation club that is
not a time share but sounds awfully
similar to a time share
after they sign up for it after about a
year of paying a thousand dollars every
month to go on a vacation that still
costs them two thousand dollars they're
gonna realize it's not worth it and then
these people are gonna make a killing
offer of you just in one year even if
you cancel and that's one of the big
selling points for the vacation club
versus the time share they took a lot of
what people complaints were with time
shares and tried to address it but i
believe tried to make up for that by
charging you this huge one-time expense
fee and a ridiculous interest rate so
here are some things that they say here
is why the vacation club is different
from the time share a time share you
usually get to stay at one resort and it
may have blackout dates and things of
that nature in the vacation club you get
access to all of their different resorts
in a time share you will have to pay
maintainance fee to keep the building up
because everyone that owned piece of the
time share own part of that building and
so you'll have to pay to maintain it
with the vacation club there is no
maintainance fee and the maintenance fee
for a timeshare can go up every single
year to the point that is actually
killing the people not literally but
yeah killing them financially but the
vacation club does not have those
maintenance fees the time you're
locked into that timeshare it is very
hard to get out of a timeshare the
vacation club you're not locked in it is
a lot easier to get out of it because
they're making a killing whether you get
out or not you know like i mentioned if
you even if you just do a year of this
they will make an absolute killing in
order to really recoup your money you
will probably have to stay on for this
thing
for
potentially the rest of your life and
potentially vacation at least for one
month in the year and most people
honestly cannot vacation don't have the
vacation time to travel enough to recoup
their money from something like this
vacation club my advice to you will just
pay for your vacations in cash if
possible and invest the difference do
not sign up for a vacation club do not
sign up for a time share because you
will potentially regret it and there are
people out there that are also in denial
sometimes when we've been scammed we
like to think of it as okay i'm actually
using this okay it's not that bad but
the truth of the matter is sometimes we
just don't want to admit that we feel
like someone got one over on us and we
stay into let's say a vacation club
longer than we probably should all right
family i hope my experience with this
vacation club is beneficial to you i
think most people out there by now know
to stay away from a time share but now
they have this thing that call a
vacation club which i will admit is a
lot more appealing than a time share but
it is still a very bad financial
investment
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always say god bless you and remember to
live your best life