With frigid temperatures the norm for Canadian winters, there is simply no getting around the fact that you’re going to need a furnace in your home. Whether you have recently experienced a broken furnace and are looking into your options or are considering taking over the furnace rental of a previous homeowner, you’ll want to understand the associated costs.
Though it may have seemed like the more affordable option at the time, furnace rentals are often costly and may cost you more in the long run. At EVAM Canada, we have more than 25 years of experience in helping our customers keep warm all winter long. We want you to know that getting out of a furnace rental agreement is possible but may come with fees. In this post, we help you understand how to get out of a furnace rental contract if the agreement is no longer working for you.
What Fees Are Associated with Terminating a Furnace Rental?
The terms of a furnace rental agreement can vary depending on who you’ve rented from. To know what fees or penalties are involved with terminating your rental, you’ll need to carefully read your contract. Though some providers may allow you to cancel after a set term without penalty, others will charge you for the full cost of your furnace or tack on steep fees.
In many cases, ending your rental agreement will require that you pay the balance of the agreement in full. Though there may be additional fees added on for removal or for keeping the furnace, this can still be a solution that saves you money in the long run.
Should I Wait Out a Furnace Rental?
If you have looked into terminating your furnace rental contract and see that you’ll have to pay lots upfront, you may be wondering what you should do. Though everyone’s situation is different, some may find that paying the fees and breaking the rental agreement is still the cheaper option. The choice is up to you, but having one less bill to pay can be freeing if you have the ability to pay penalties and break the contract.
Is Buying a Furnace a Smarter Choice?
When it comes time to replace your furnace, buying your furnace outright can be a more cost-effective option in the long term. You may find that financing your furnace from a trusted heating, and cooling contractor is your best bet. Buying a Carrier furnace or Bryant furnace can help you feel assured that you will have an efficient and safe furnace for years to come.
Replacing your furnace can feel like a major expense, especially when it is an unexpected repair. Be sure to stay on top of furnace maintenance to help extend the life of your furnace. Our Furnace Maintenance Guide helps you keep your furnace running efficiently all season long.