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water tank buyout enercare ...should I?

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  • Dec 14th, 2019 9:50 am
[OP]
Member
Jul 13, 2019
231 posts
62 upvotes

water tank buyout enercare ...should I?

so right now I'm paying $33 a month from enercare ..tank is a year old

buyout price is 1754 including taxes

heard tanks last 8 to 10 yrs ..but the woman tried to scare me saying ..oh if there's issues ...you're bearing all the costs

so ...what are the chances I would need to get my tank serviced often ..if at all ?

she was offering 3 months free rent lol ....seems like they really don't want to uto buy it out

so ..I think I should right ?
14 replies
Deal Addict
Dec 17, 2007
2304 posts
1281 upvotes
Alliston, ON
You're tank should last longer than 8-10 years, more like 12-15yrs. At $400/yr for your rental, the tank would only have to last you just under 5yrs for you to reach your break even from buyout. And that's assuming there's no yearly price increase on the rental...
[OP]
Member
Jul 13, 2019
231 posts
62 upvotes
schade wrote: You're tank should last longer than 8-10 years, more like 12-15yrs. At $400/yr for your rental, the tank would only have to last you just under 5yrs for you to reach your break even from buyout. And that's assuming there's no yearly price increase on the rental...
ok, and the question reagrding the need to service it? it's pretty rare, right?
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Aug 12, 2007
4685 posts
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Waterloo
joyceetal wrote: ok, and the question reagrding the need to service it? it's pretty rare, right?
replace the Anode every 3 years and you should be fine for a long time.
If you dont replace it every 3 years its hard to replace it since it gets stuck in place. When you replace the Anode drain the tank to flush out the debris in it.

Other than that , there is no service really. Enercare wouldnt do the service listed above. they mean a breakdown , its pretty rare for water heaters to breakdown other than leaks , which you cover by changing the Anode.
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Jan 2, 2012
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KINGSTON,ON
joyceetal wrote: ok, and the question reagrding the need to service it? it's pretty rare, right?
Look at it this way; if water heaters broke down frequently and were super costly to repair, do you think they'd be in business?

Water heaters are generally reliable. The person you spoke to is in the Retentions Department. Her job was to try and scare you into staying, then offer you a couple rent free months to calm your nerves down.

The major components of a tank style water heater are the gas valve, the tank itself, and the blower fan/motor if you are using a power vented unit. A new gas valve is a couple hundred plus installation. Even if it failed every two years (which it wouldn't), you'd still be ahead of the game, money wise.

All systems of your house do have lifespans; roof, windows, driveway and even the water pipes. 12-15 years from now, your tank will give up the ghost. Since you did the wise thing and got out of renting a tank, you have saved enough to buy two replacement tanks. Smiling Face With Open Mouth
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Jan 2, 2012
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KINGSTON,ON
Supahhh wrote: replace the Anode every 3 years and you should be fine for a long time.
If you dont replace it every 3 years its hard to replace it since it gets stuck in place. When you replace the Anode drain the tank to flush out the debris in it.

Other than that , there is no service really. Enercare wouldnt do the service listed above. they mean a breakdown , its pretty rare for water heaters to breakdown other than leaks , which you cover by changing the Anode.
Enercare doesn't replace the anodes because they have the average life expectancy figured out. Having someone replace the anodes in every tank they rent is too costly, when tanks are already lasting 12-15 years with zero maintenance.
Deal Addict
Nov 17, 2012
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Toronto
If you can absorb a possible $2000 hit to replace a tank that dies without warning, then by all means buy it out and quit paying rent. Chances are very high you'll be ahead of the game. You give up the predictability of a $33 monthly fee and knowing who to call when you need service.

Make sure you know who to call at 3AM on Christmas Eve if your water heater fails, and have an envelope of cash ready to pay for repairs. Same goes for your furnace. You don't want to be scrambling deciding who to call in the middle of winter with a house full of kids when something goes wrong.
Deal Expert
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Feb 11, 2007
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Oakville
torontotim wrote: If you can absorb a possible $2000 hit to replace a tank that dies without warning, then by all means buy it out and quit paying rent. Chances are very high you'll be ahead of the game. You give up the predictability of a $33 monthly fee and knowing who to call when you need service.

Make sure you know who to call at 3AM on Christmas Eve if your water heater fails, and have an envelope of cash ready to pay for repairs. Same goes for your furnace. You don't want to be scrambling deciding who to call in the middle of winter with a house full of kids when something goes wrong.
Enercare doesn't make emergency calls. They just come when they please because your stuck with them. Just look at the threads here on RFD of people complaining about the poor service on a breakdown.
Enercare also won't cover any damages resulting from when their tank fails and they never proactively service their tank.
Also, if a tank fails, you're also paying for it. Because the new tank they'll give you will come with a higher monthly rate and a new, longer contract.
Enercare/Reliance guys also have a habit of red-tagging people's furnaces when they come for the water tank, as a way or forcing someone into buying/renting a new furnace.
Any way you look at it, you always lose when renting your tank. Better to buy yourself, then you can call any emergency plumber if an issue arises.
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Aug 12, 2007
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Waterloo
torontotim wrote: If you can absorb a possible $2000 hit to replace a tank that dies without warning, then by all means buy it out and quit paying rent. Chances are very high you'll be ahead of the game. You give up the predictability of a $33 monthly fee and knowing who to call when you need service.

Make sure you know who to call at 3AM on Christmas Eve if your water heater fails, and have an envelope of cash ready to pay for repairs. Same goes for your furnace. You don't want to be scrambling deciding who to call in the middle of winter with a house full of kids when something goes wrong.

LOL

Are you the rep OP was talking to on the phone?
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Newbie
Mar 15, 2017
41 posts
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Based on your numbers above, breakeven is about another 4.5 years on a tank that is one year old.

Your tank (typically) should last at least 10+ years.

I would buy it out, and have Enercare out of my life.

I had a new house build in 2003, and it came with a hot water tank. Received my first rental bill, and so I called to buy it out. The "buyout" price at the time (on a 3 month old tank) was $1169. I took it and ran. Tank lasted 13 years (and was still working), which I replaced with a tankless in 2016. It's one more bill I don't need.
Deal Addict
Nov 17, 2012
3166 posts
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Toronto
Supahhh wrote: LOL

Are you the rep OP was talking to on the phone?
Just saying - if you're going to own your tank, you need to be prepared for the unexpected. I don't care if people rent or buy - it's up to the individual. I had my furnace installed 15 years ago and have never had it 'serviced' annually. My water heater is a rental at $17 a month, and I had them replace it about 7 years ago. Sure, I could buy my own tank etc. etc. but it's just not something I've bothered with.

So I'm no example to follow - just pointing out that if you own your own stuff, you need to be ready to maintain it and take the unexpected expenses.
Deal Addict
Oct 18, 2004
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Wat
For $17/month I'd rent.. currently paying $36
[OP]
Member
Jul 13, 2019
231 posts
62 upvotes
thanks guys...will buy out...and yes, i can absorb an unexpected hit of a few thousand
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Jan 2, 2012
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KINGSTON,ON
torontotim wrote: If you can absorb a possible $2000 hit to replace a tank that dies without warning, then by all means buy it out and quit paying rent. Chances are very high you'll be ahead of the game. You give up the predictability of a $33 monthly fee and knowing who to call when you need service.

Make sure you know who to call at 3AM on Christmas Eve if your water heater fails, and have an envelope of cash ready to pay for repairs. Same goes for your furnace. You don't want to be scrambling deciding who to call in the middle of winter with a house full of kids when something goes wrong.
Back before I rid myself of Reliance, my HWT stopped working. The flashing code on the gas valve told me that the valve was faulty. It was a Friday morning in May when I called Reliance, and told them the exact issue. The response I got? "The earliest we can get a technician there is Monday afternoon". Awesome. No hot water for the whole weekend.

I could have called three plumbers in town and found someone to repair it by Friday afternoon.

Of course you are going to pay a premium for after hours emergency service. However, the odds of having your equipment die on Xmas Eve is slim. That's just fear mongering.
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Oct 16, 2008
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Maple
I would buy out. My house was built 2001, rental HWT was $20/month for 10 years with OZZ. I bought it out for $150 when contract was finished. Used it for 2 more years. Bought new tank from Lowes for $1000. Paid to have it installed for $300, another $300 to replace to white pipe from black.

It’s better to own your tank. Within 10 years I rented the tank, I called in once (it’s not tank related).

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