There are numerous advantages to renting a heat pump instead of purchasing one. If you’re still not convinced about the benefits of renting a heat pump, here are a few things to keep in mind before you make your decision.
|Installation cost||Renting a heat pump comes with free installation.||If you choose to purchase a heat pump, your installation costs can vary between $5,000 to $10,000.|
|Monthly cost||The monthly cost of renting a heat pump varies between $49.99 and $71.99, taxes not included.||There are no monthly payments associated with purchasing a heat pump.|
|Maintenance costs||There are no maintenance costs when you rent a heat pump. Every three years, a technician will inspect your equipment and clean the filters.||If you purchase a heat pump, you’ll have to sign up for an annual maintenance contract which may cost between $200 and $300.|
|Repair costs||By choosing to rent your heat pump, you’ll benefit from peace of mind because the repair costs are included in the price of rental.||If you purchase a heat pump, you could be liable for the costs of repairs. These could vary between $200 to $500 per year.|
|Eligible for grants||Renting a heat pump allows you to benefit from grants. HydroSolution takes care of it all and we’ll automatically transfer the funds to you. Grants can vary between $370 to $730.||On the other hand, if you purchase your heat pump, you’ll have to fill out the forms and manage the process yourself. A potentially time-consuming endeavour. Grants can vary between $200 to $600.|
|Heating cost savings||You could save between $150 to $350 per year*, depending on the model chosen.
*The savings calculation is an estimate.
|The same goes for purchasing a heat pump.|
|Warranties||By renting a heat pump, you’ll benefit from a 15-year warranty on parts, maintenance, and labour.||If you choose to purchase a heat pump, the warranty will only cover parts for 12 years.|
|Budget management||Renting a heat pump allows you to easily manage your budget. You’ll benefit from a flat rate for 15 years, making it easy for you to monitor your expenses.||Purchasing a heat pump requires significant upfront costs as well as additional costs in the case of unexpected events. That can make managing a budget a bit tricky.|
|Choice of product(s)||When you rent a heat pump from HydroSolution, you’ll benefit from superior quality equipment chosen by our experts. We are dedicated to providing you with reliable, efficient products that are adapted to your specific needs.||When you choose to purchase a heat pump, you’ll have to choose a product without expert help.|
|Total per year||With a rented heat pump, you’ll benefit from a flexible payment model. For the first year, you’ll pay as you go. For instance, for a 12,000 BTU Performance model you’ll pay $59.99 per month, which comes out to $719.88 + taxes for a year. You’ll also be able to benefit from a $400 grant and heating cost savings estimated at $350. In other words, the first year will not cost you a dime. In subsequent years, you’ll pay $59.99 per month and benefit from $29 in heating cost savings. That means your annual costs will only be $30.99.||Choosing to purchase a heat pump means you’ll be spending $6,000 the first year and about $250 to $300 in subsequent years on repairs.|
In brief, renting a heat pump comes with numerous financial benefits such as reduced initial costs, no maintenance or repair costs, financial assistance without any work on your part, simplified budget management, and an extended warranty. Before making your decision, carefully assess your needs and financial situation.
To find out more, contact HydroSolution at any time at 1 877 353-0077.