Furnace/AC Rental

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Apr 14th, 2021 8:51 pm

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Apr 14th, 2021 10:50 am

AchtungB4by [OP]: Sr. Member; Jul 21, 2014; 813 posts; 125 upvotes; Canada

Apr 14th, 2021 10:50 am

Furnace/AC Rental

My brother just recently moved into a condo in Mississauga last year and this year needs to replace his A/C and furnace combo. Purchase and rental amount is the same: $11k. I almost fell of my chair when he sent me the quotes but said due to the way the condo is designed they are specific to the condo unit and not the same as what you would get for a regular home.

He does not have the cash to purchase & wanted to go the route of rental. Depreciation is 8.9%, with a 84 month term and can payout the rental at any time without any fee/penalty.

I have heard never do rent-to-own for your furnace but why?

6 replies

Apr 14th, 2021 11:04 am

engineered: Deal Expert; Feb 11, 2007; 18949 posts; 21756 upvotes; GTA

Apr 14th, 2021 11:04 am

No, don't rent. Get a loan instead. Also, get multiple quotes.

If the women don't find you handsome, they should at least find you handy.

+4

Apr 14th, 2021 11:49 am

GoodFellaz: Deal Fanatic; Jun 24, 2015; 6814 posts; 2142 upvotes; 0 downvotes

Apr 14th, 2021 11:49 am

yup dont fall for rental.

Say NO to the WAR!
PEACE is the answer!

+2

Apr 14th, 2021 12:53 pm

zeddy: Deal Addict; Jun 12, 2008; 1405 posts; 915 upvotes; Ripley

Apr 14th, 2021 12:53 pm

Rentals of furnace/AC/water heaters exist because they are extremely profitable for the company selling them.

He should purchase.

+2

Apr 14th, 2021 8:15 pm

fourseasoncomfort: Deal Addict; Jun 1, 2010; 1056 posts; 309 upvotes

Apr 14th, 2021 8:15 pm

zeddy wrote: ↑ Rentals of furnace/AC/water heaters exist because they are extremely profitable for the company selling them.

He should purchase.

You are 100% correct. Please also don’t let the company up sell you to a AC with a seer rating more then 13 seer.

See our 2022 RFD Trane AC Group Buy
group-buy-gta-ottawa-2022-central-ac-gr ... t-2530534/

+1

Apr 14th, 2021 8:25 pm

newlyborn: Deal Addict; Jun 16, 2009; 3633 posts; 2111 upvotes; Woodbridge

Apr 14th, 2021 8:25 pm

It's a simple answer to why ? Rental doesn't make financial sense. In good case scenario, you will pay at least 300% of the total price of equipment. As others have mentioned, you can look into getting a LOC and try to buy the equipment right upfront. If LOC is not available, there are many companies that can finance your equipment. Even though they charge higher interest, but it will still be much better than renting.

AchtungB4by wrote: ↑ My brother just recently moved into a condo in Mississauga last year and this year needs to replace his A/C and furnace combo. Purchase and rental amount is the same: $11k. I almost fell of my chair when he sent me the quotes but said due to the way the condo is designed they are specific to the condo unit and not the same as what you would get for a regular home.

He does not have the cash to purchase & wanted to go the route of rental. Depreciation is 8.9%, with a 84 month term and can payout the rental at any time without any fee/penalty.

I have heard never do rent-to-own for your furnace but why?

HVAC Pro-Committed to customer, not brand. Past RFD Reviews
2022 Central Air Conditioner & Furnace Group Buy

+1

Apr 14th, 2021 8:51 pm

IndyBeak: Deal Addict; Sep 13, 2016; 3371 posts; 2115 upvotes; Mississauga

Apr 14th, 2021 8:51 pm

Is both purchase as well as rental quote done by the same company? May be they did that intentionally to make rental look more platable. Also what kind of building is this. Don't condos usually have a fan coil unit instead of traditional furnace/ac combo we see in homes. I could be missing something here, but 11K sounds a bit too pricey.

P.S. A number of big box stores do loans for a reasonable interest rates. Even credit cards have balance transfer/cash advances for a small fee a number of times.

+2

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