Are timeshare resells usually cash transactions or do buyers go through some type of financing procedures? I know it would vary with the cost of the timeshare, but generally about what percentage are cash sales?

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Camama

Usually a timeshare resale buy is a cash transaction, but there are many exceptions when the buyer may require a loan in order to make the timeshare purchase. In these instances there are a couple of finance companies that provided lending services for timeshare vacation buys. I'm unsure of an exact ratio of financed timeshare resales versus cash resale, but If I am able to acquire this information I will be sure to post it here.

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i did explore the options to get a loan when i was about to buy my timeshare resale (disney saratoga springs). i discovered that major banking institutions do not lend for timeshares, but my research gave me some insight and i'm happy to share what i learned. there a lenders that do specialize in loans to buy a timeshares, albeit very few. these lenders charge heavy interest rates and it sure seemed like guaranteed financing to me, which could be good for some. i decided to keep looking. heres the two best options that worked for me and may help other timeshare buyers:

a home equity line of credit can get the buyer a potentially good interest rate. this worked nicely for me!

i also belong to a credit union and was able to get a personal/signature loan to buy my timeshare. i declined and went with the home equity loan, but both beat the interest rates from timeshare lenders.

That is very interesting. I belong to a credit union and hadn't considered the choice. I have read that this bad economy would be affecting financing. So, it sounds like to me that timeshare resales will be holding steady in this market.

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Camama