Reliance water heater buyout
The representative also indicates there is no written contract as part of the installation/rental agreement, only verbal. The tank works fine, but I would like to get out of the rental. Reliance indicates the buyout price will be $860 once it's been installed for a year.
The representative indicates there is no cancellation option -- I must either buy it out, or continue paying the monthly fee. Based on the straight math, the break-even point is around five years. The tank appears to be an OEM Rheam 40-gallon model, thought I have no idea what the warranty might be if I buy it out.
Should I buy it out (cashflow not a problem.) Is their claim that there's no concellation option accurate?