Renting a Furnace: What You Must Know
- On October 6, 2021
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- Furnace Ottawa, Furnace Replacement, Furnaces, Harding, Heating, Ottawa, Owning, Renting
Investing in a new furnace and paying all at once can be daunting. Home comfort systems tend to cost homeowners quite a bit of money, and not everyone wants to purchase a system outright. Fortunately, there are alternatives to buying and owning your own furnace; renting-to-own is a great way to pay a small sum of money for a furnace monthly and in turn, having a high-quality system in your home that you will eventually own. Renting-to-own a furnace is different from just renting a furnace, and sometimes it’s easy to mix the two up. Renting a furnace is often not the right choice for Canadian households; this is what you should know before you decide to rent.
What Does It Mean To Rent A Furnace?
Renting a furnace and renting-to-own a furnace are two different concepts. When you decide to rent a furnace, you’re paying a monthly cost indefinitely to use a furnace that will always belong to the HVAC dealer and never switch hands to your ownership, even after the cost of the furnace has been paid through your monthly payments. While furnace rentals are advertised as a good idea because they come with free repair and maintenance, over time you’ll end up spending much more than the cost of the system and the annual repairs. Ultimately, furnace rentals cost you more money than buying a furnace outright, but the cost is dispersed over a longer period of time.
What Does It Mean To Rent-To-Own A Furnace?
At Harding, we understand that not everyone wants to pay upfront for a brand new furnace, but we also want our customers to own their system and pay a reasonable price for it. This is why we offer a rent-to-own financing plan. Similar to renting a furnace, instead of making a large one-time purchase on a furnace, you pay a small monthly price. However, unlike renting a furnace, once the cost of the furnace is paid through monthly payments, you own your system and the monthly payments cease. Our rent-to-own program combines the best of both worlds, our customers can choose small and affordable monthly payments that work towards ownership of their system.
Interested in renting to own a brand new, high-quality furnace?
Learn more by contacting Team Harding!
Harding Heating & Air Conditioning has been Ottawa’s leading home comfort specialists since 1994. We are a family owned and operated local business and all of our installers and technicians are fully licensed.