Should I Rent or Buy My Water Heater?

It’s the eternal struggle for Ontario residents. Is it better to purchase something than rent it? How long do you continue paying rent at an apartment instead of investing in a condo or home? Do you lease a car or finance to own? What is the best choice for your current financial situation?

We believe the most prudent choice is to purchase your water heater. It puts your family in control of the appliance, rather than housing an appliance you really have no authority over. Take a look at the chart below and see how ownership stands up to rental.

Question Air Treatment ClimateCare Rental Company
Do I own the equipment? Yes. No.
Are my payments predictable? Yes. The 5-year fixed rate in your contract may change, but the impact on your monthly payment will be negligible. Less so. The payment may change up to 3.5% each year. Over a 15 year rental agreement your monthly payment could increase by 60%.
Warranty? 100% comprehensive. 100% comprehensive.
Is my contract open? Yes. You’re only charged $39.95 for the initial set up. No. You can face penalty fees for early cancellation.
What are my maintenance options? You can choose from a selection of maintenance and protection plans. Your maintenance schedule is controlled by the rental company.
What is my contract term? Depends on what you want. Various options are available. Ongoing.
Is my monthly payment higher if I own the equipment? No. Monthly payments are in line with rental company rates. Lower, in some cases. No.

Take a Breath of Fresh Air

Air Treatment ClimateCare is a member of the ClimateCare cooperative, servicing the Greater Toronto Area, an Ontario-wide coalition of local HVAC contractors. This means we can stay price competitive with the giant utilities while maintaining our family-owned approach to service.

With us, you have the best of both worlds. The purchasing power of the giants with the trusted service of the Little family.

Get in touch with us today to see what we mean.

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