Furnace/AC Rental

Search this thread

Last Updated:
Apr 14th, 2021 8:51 pm

Tags:

rental

SCORE

Reply to ThreadReply

Search this thread

Apr 14th, 2021 10:50 am

AchtungB4by [OP]: Sr. Member; Jul 21, 2014; 793 posts; 120 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; 16800 posts; 18496 upvotes; Oakville

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: Penalty Box; Jun 24, 2015; 5060 posts; 1533 upvotes; 0 downvotes

Apr 14th, 2021 11:49 am

yup dont fall for rental.

+2

Apr 14th, 2021 12:53 pm

zeddy: Deal Addict; Jun 12, 2008; 1222 posts; 685 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: Sr. Member; Jun 1, 2010; 735 posts; 214 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 2021 RFD Trane AC Group Buy
group-buy-gta-ottawa-2021-central-ac-gr ... e-2449494/

+1

Apr 14th, 2021 8:25 pm

newlyborn: Deal Addict; Jun 16, 2009; 2862 posts; 1235 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 Professional. Committed to customer, not brand.
Furnace & Central AC Group Buy 2021

+1

Apr 14th, 2021 8:51 pm

IndyBeak: Deal Addict; Sep 13, 2016; 2868 posts; 1633 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

Reply to Thread

Top