IS RENTING FURNACE A GOOD IDEA?
Renting a furnace or an air conditioning system in the Greater Toronto Area is becoming more popular as the HVAC Rental market has gradually and steadily been growing. However, the reality is that previous to the introduction of our Low-Monthly HVAC Rental Plan, not only we were not at all a fan of the HVAC rental market, we actually never recommended renting. Why you ask?
One simple reason! HVAC rental rates were and are often still very high… With most rental plans at $69.99 per month, consumer would end up paying up to quadruple the market value of the installed (usually a low-end brand and model) unit. When it comes to renting, most rental programs have been offering the most basic furnace and air conditioner model for rent. In short, there was only one clear winner in the aformentioned rental programs and it definitely was not the consumer!
Moreover, consumers that signed up to pay a rental fee of $69.99 on a monthly basis, most likely failed to shop around and did not realize that they can also own and finance the same deal for a period of ten years, and pay about $30 per month.
It’s possible that they may have found the 10 year parts and labour warranty feature of the rental agreement quite attractive. If so, chances are they were not aware that you can always buy a 10 year labour warranty plan to cover the installed unit (that most probably already is backed by a 10 year manufacturer parts warranty) and expect to pay anywhere from $6 to $15 more per month. With much higher rates on much lower model HVAC equipment, consumers were basically expected to pay much higher monthly fees for a rental agreement as opposed to a 10 year financing agreement on the same equiment, both deals including a 10 year parts and labour warranty plan.
Here is the Great News! You can now expect to pay anywhere from $35 to $45 per month (depending on your choice of installed furnace model and size) for the rental of a Carrier furnace or a Carrier air conditioner. This amazingly affordable rate is based on monthly payment with a 10 year term (120 payments) and includes a 10 year parts and labour warranty, where the renter client becomes the lawful owner after the 10 year term.