I recently had my old 50-gallon water heater replaced after 16 years, and the company suggested I consider leasing an Enercare water heater. The lease lets me pay a monthly fee instead of a hefty upfront cost. While it sounds convenient, I'm a bit skeptical and wondering if this could be a scam. Has anyone in the Vancouver area had experience with leasing a water heater? What did you think?
2 Answers
Leasing could be a red flag! In the USA, they often have these lease agreements where you never actually own the unit. For a new 50-gallon tank, I don't think it should cost more than $2,500 installed. If you're paying $40 a month, that's about $7,200 over 15 years! You should definitely look into the details of that lease agreement before committing.
Hey! I’m glad you’re considering alternatives. Just to add on, the $40/month lease you're looking at seems to cover maintenance and repairs until the unit breaks down. But remember, a gas water heater usually lasts about 8-12 years, so you want to weigh that cost against buying outright. Make sure you know what happens when your lease ends!