RENTING VS. OWNING
What are the advantages of renting my equipment vs. buying it outright?
In today’s complicated world, simplicity is becoming more important than ever before. Making larger purchases in life are always difficult. People don’t mind spending more money on something as long as they see value and get peace of mind.
You can see that in many life examples. Several people like to lease cars, they in turn are paying for something that they will never own but they can upgrade whenever they want and they are covered. When buying a new television people buy extended warranties.
Why pay more? How about if it doesn’t break? Consumers pay for peace of mind, insurance that if at any point it breaks they are covered. 95% of homeowners rent a water tank. You can go to your local hardware store and pick one up for $800. But instead, homeowners rent one for $25 monthly for 10 years which down the line costs them triple the price.
So why do it? It’s simple…
They never have to worry about it again, everything is taken care of by the company. More and more we are seeing a trend towards renting equipment vs. owning it. Regulations and standards are always changing when it comes to the HVAC industry. Which means as a homeowner you have to be informed and worry about upfront costs when upgrading. People rather pay small affordable monthly payments with insurance; than large upfront costs and liability.
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