Several companies are now offering consumers the option to rent furnaces and air conditioners. Many people in London rent their hot water heater, so they may think renting a furnace or air conditioner also makes sense.
There has been a recent article in the Toronto Star (click here to read the article) that explains some of the pitfalls involved in renting equipment for your home.
Some companies are now operating questionable door to door selling techniques in London. They will come to your door and give you the impression that they are with the government or gas company and that they want to inspect your furnace or water heater. They will then tell you that there is something wrong with your venting or the way the equipment is installed. The solution they offer often will be to rent you new equipment. It’s a very aggressive sales pitch and they are determined not to leave your house until they get a signed agreement.
How Can Salmon Plumbing and Heating Help?
- The cost of a service call can quickly put your mind at ease.
- We offer financing for all equipment we sell. It’s easy to apply for and the loans are fully open, which means you can pay them off anytime with no penalty.
- You’ll be surprised that the monthly payments are usually very similar to rental payments. The difference is they will end, and you will own your equipment.
- We offer service plans, extended warranty and 24 hour emergency service. We take care of our customers promptly.
- We answer all of our own phone calls, you do not get directed to a call centre.
- We’ll visit your house for free, evaluate your needs and provide you with a simple no-obligation quote.
- We only sell quality equipment, because we have to stand behind it.
What’s Wrong with Renting Equipment?
- The low monthly payment looks attractive, but it never ends, and the payments are often more than if you purchased the equipment using a monthly payment plan. In the long run, rental equipment costs a lot more than buying.
- Rental contracts are difficult and costly to get out of, even if you change your mind.
- If you need to sell your home, rental agreements can ruin a sale. Often the buyer is not willing to take over contracts to rent the equipment and the cost for cancelling the contract can be significant.
- Some companies renting you equipment will put a lien on your home, which can complicate the sale of your home or may prevent you from re-financing or securing a line of credit.
What Can You Do?
- If you suspect something is wrong with your equipment, have a reputable contractor with licensed technicians check it out.
- Never sign paperwork from a stranger that shows up at your door, even if they appear to be reputable.
- If there is something wrong with your equipment, it may make more sense to fix it, than to replace it.
- If your equipment needs to be replaced and you don’t have the money, find out what it will cost to finance it before you enter a rental agreement.
