Furnace & AC contract with Reliance
Oct 23rd, 2019 9:02 pm
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Oct 23rd, 2019 11:27 pm
OP said that 2 years after being told he would pay around $45/month for each (IOW $90/month) he is actually paying $97/month for each (IOW, $194/month). Using your calculation that would be $194X12X15 = $34,920. And this is assuming the $97/month would never increase, which is extremely unlikely.newlyborn wrote: ↑ Please find out when the remaining amount of penalty will be 0 $ ( i.e when the contact will be up ?) . So lets say after 15 years you will not pay a dime. Total money paid during 15 years for both equipment will be close to 100X12X15= 18000. If my assumption is correct than its not worth to pay upfornt 15600 and owe the equipment.
Oct 24th, 2019 8:29 am
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Oct 26th, 2019 11:40 am
Wow thanks for the info.koffey wrote: ↑ Start reading OP. You are not the first nor will you be the last. There's some really good information in this thread that should give you some pointers on how you can deal with your AC/furnace rentals.
http://forums.redflagdeals.com/great-wa ... m-1126945/
Oct 26th, 2019 11:46 am
Being good at Math and financial literacy aren’t exclusive.DongR3009 wrote: ↑ Thanks for your advice! Believe it or not I aced my math courses throughout high school and university... I just thought that people don't lie about things like this and I'm somehow protected and didn't look at the contract before signing (I have a habit of pressing agree without even checking the terms too). I'll do the math carefully and if everything checks out, get a credit line and get this thing over with. Thanks again
Oct 26th, 2019 11:58 am
I agree 100%, I think we were just lazy and gullible. Great advice though we're going to be very careful from now on.
Oct 26th, 2019 5:54 pm
It's the free society and marketplace that enables this to happen. Everyone has personal responsibility for making their own educated decision. If it was heavily regulated or completely socialist, then the gov't would basically run the market and not allow other companies to operate.DongR3009 wrote: ↑ Wow thanks for the info.
Update: Called the HVAC Company twice and they wouldn't budge on the buyout price. I contacted a lawyer regarding this matter, the lawyer told me that if it's within the first year of the rental, the customer can easily get out by law under the consumer protection act, we're well into our 3rd year so he thinks it'll be very difficult to get any kind of deals. Reliance senior manager called us back and basically gloated over the fact that it's now the 3rd year and there isn't anything we can do and that we're suckers. Can't really say otherwise (we were very trusting and didn't do any numbers before hopping in), we're just surprised that this kind of thing can take place in a free society and marketplace, it sounds like a scam that would've been banned in 1993, going to be extra cautious in the future. If anyone knows of any ways we can help to stop these kind of companies I'd be all in.
Anyway, I did some calculations and it makes sense to get the buyout over with now, since we'd own the equipment after. The customer service rep told us that our contract isn't rent to own, so we can choose to either remove the equipment or buyout by the time the contract is over.
Oct 26th, 2019 6:12 pm
Normally if a company rips off people hard it doesnt survive in a free society and marketplace, I grew up in a third world country where companies get help from governments to rip off consumers leaving them no options. I've been spoiled in picking products without questioning the prices, since it usually is somewhat competitive already in its segment. This is a painful lesson for me.engineered wrote: ↑ It's the free society and marketplace that enables this to happen. Everyone has personal responsibility for making their own educated decision. If it was heavily regulated or completely socialist, then the gov't would basically run the market and not allow other companies to operate.
Oct 26th, 2019 6:30 pm
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