Although the timeshare industry does not have the best reputation for fully understanding the actual working methods of timeshares, many things that salespeople usually say can be considered hype rather than outright fraud. Unfortunately, this is not the case in Mexico, where fraud is not common in timeshare sales.
If you purchased a timeshare while traveling in Mexico, you should note that Mexican law requires a cooling-off period of 5 working days to purchase a timeshare. This is also called the revocation period. But it is another matter for timeshare salespeople to respect this cancellation period.
Most of the fraud in Mexico’s timeshare industry is related to cancellation periods. It is not uncommon to ignore this law completely, and although Mexican law does not allow it, some timeshare resorts require you to give up your rights.
Let me reiterate. Mexican law assures you that the “cooling-off period” is your right, and even if many timeshare salespeople insist that you must do this, you cannot give it up immediately. It doesn’t matter if they are selling you a “used” timeshare or you hand over your own timeshare to pay part of the purchase price. You still have the right to cancel the sale within five working days.
Of course, implementing the rights you have is another matter entirely. If you do encounter a situation where you are trying to cancel a timeshare purchased in Mexico, please make sure to contact your credit card company and dispute the charges you paid with your credit card.
In addition to your credit card company, you should also immediately contact Mexico’s consumer protection agency called Profico. Their phone number is (+52) 55 5211-1723. You will need to send them a letter of complaint and fill out some paperwork, but although this may take some time, they will also be a great help in ensuring that you get your money back.
This is why I recommend buying Mexican timeshares from eBay or another distributor located in the United States, rather than buying them in Mexico itself. You will save money and a lot of trouble.