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View Poll Results: Water Heater Rent VS Buying
Renting $24 / Month 3 100.00%
buy out for the similar unit for $700-800 0 0%
Voters: 3. You may not vote on this poll

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  #1  
Old 2010-05-17, 09:35 AM
a16s a16s is offline
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Default Water Heater Rent vs Buying

HI all,

I am in little confusion making decision, i need your opion on this

I am thinking of buyign a Water heater instead of retning , becuase the rent is $24 per month and i could buy the better one for $700-800. With the price of 3 years rent i can own the waterheater i dotn pay anything after that.

Please give your suggestion.

Thanks,
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  #2  
Old 2010-05-17, 10:14 AM
Squib Squib is offline
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I think if you are planning on staying at your place long term, buying would be the better choice but keep in mind that if something goes wrong you have to cover the cost of the service. If you rent I believe it is covered.

Having said that, I think some companies offer a protection plan that will cover the cost of the service/repair.

It comes down to your budget, if you can afford the money up front and possible money for a future service/repair...

We are renting because our budget is pretty tight and being our first year moving in we have many other things to tackle first.

Good luck with your decision
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  #3  
Old 2010-05-17, 11:45 AM
Paju Paju is offline
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Personally, I've never heard of such a unit requiring any repairs.
I'm smilling at the tought of going ahead and purchasing one and, it needs maintenance.

That being said, I think that it would be pretty safe to say that buying is your best alternative. As you said, after 3 years, you have covered the cost you would of had if you would of initially rented. Any time after that would be savings. Going back to what I had said, I have never heard of repairs needed on a rental. Moreover, when purchasing, you surely would have the manufacture's warranty.

Your call my friend
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  #4  
Old 2010-05-17, 01:26 PM
joeym joeym is offline
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if you got the money, why not go tank-less instead?
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  #5  
Old 2010-05-17, 06:08 PM
lex_rx lex_rx is offline
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Quote:
Originally Posted by Paju View Post
Personally, I've never heard of such a unit requiring any repairs.
I'm smilling at the tought of going ahead and purchasing one and, it needs maintenance.

That being said, I think that it would be pretty safe to say that buying is your best alternative. As you said, after 3 years, you have covered the cost you would of had if you would of initially rented. Any time after that would be savings. Going back to what I had said, I have never heard of repairs needed on a rental. Moreover, when purchasing, you surely would have the manufacture's warranty.

Your call my friend
I know someone whose rental unit malfunctioned and flooded the basement. I never had a problem with my own unit. I'll look at the buy-rent option in another month or so.
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  #6  
Old 2010-05-17, 08:27 PM
elllas1 elllas1 is offline
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just spoke to my dad who is a retired master plumber...he says that it's best to buy one... after 3 yrs you've covered your costs and the average warranty is 6 yrs...so God willing, one day, I will change mine one day with my dad's help.
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  #7  
Old 2010-05-17, 10:53 PM
TKG26 TKG26 is offline
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I could use a bit more info about what your actually renting. I service water heaters and other HVAC equipment for a living. I service rental and customer owned tanks. We have about 1.5million rental tanks so i see my fair share of tanks on a daily basis.

At 24$ a month i can only assume renting a Power Vented 50 gallon tank(sounds similar to the rent we charge at DE) Your mistaken if you think you can get a PV tank installed for 800$ I believe we sell them "installed" for around 1300$(dont quote me) Homedepot shows one PV tank for 950$ and thats not installed. An installer is going to charge 300 or more to install a product they are not supplying..

So assuming its a 1300$ tank +TAX your 24$ is going to take about 5 years in rent to pay out the tank. The new generation of PV tanks are PITA with there controls failing and the added flammable vapor sensor thats been tripping for no good reason on many of my service calls. We supply and fix em but we dont manufacturer them so we are at the mercy of the manufactures.. With that said i see many tanks that are less then 5 years old on service calls. So lets assume you get one service call in 5 years.. 99$ diagnostic plus parts and labor... Lets make it cheap and replace the flammable sensor. That call would cost about 250-300$ add that to your 1300$ tank and it will take another year to pay for it in rent...

Just an example i dont have stats to say every tank breaks in 5 years but i see many in new construction areas daily...

My point is rental is there to allow you to forget about the tank and let us deal with it... IF you can get 5-6 years with no problems then your owning a tank is a good deal.

I have had more then a few customers switch to a rental tank after being quoted 600$ to replace a ventor motor on there tank simply because it was more then the could afford it and the repair was about 50% of the value of the tank!

I see both sides... if you dont break down in 5-6 years you win. If you do have problems ever 4-5 years then renting is better. ITs not for everyone but its an option..

IT dont matter to me one way or another. Ill get to fix them weather or not they are rented or not.. So im not 100% bias towards rental..
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  #8  
Old 2010-05-17, 11:01 PM
elllas1 elllas1 is offline
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great points! I guess if I can get a good deal on a PV and self install with my dad then yes...if not your info is very sound.... thx pal
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  #9  
Old 2010-05-18, 09:49 AM
93GTCANADA 93GTCANADA is offline
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your dad might be a master plumber but not a licensed gas fitter. something happens and he touched the tank without license insurance will not cover it.
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  #10  
Old 2010-05-18, 10:03 AM
elllas1 elllas1 is offline
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true...a pal of mine is a lic gas fitter
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