The benefits of renting or buying a heat pump

When choosing whether to rent or purchase a heat pump, you need to consider several factors as well as the benefits of each option. Here are a few things to keep in mind before you make your decision.

	Rental	Purchase
Installation cost	Renting a heat pump comes with free installation.	If you choose to purchase a heat pump, your installation costs are included in the price.
Monthly cost	The monthly cost of renting a heat pump varies between $56.99 and $149.99, taxes not included.	There are no monthly payments associated with purchasing a heat pump and the device belongs to you.
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 a+ 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 if the device breaks down.
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 $2,568.	Buying a heat pump can come with grants that can vary between $370 and $2,568.
Heating cost savings	You could save between $150 to $500 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 warranty on parts and labour during the entire rental term.	If you choose to purchase a heat pump, the warranty will only cover parts for 12 years on parts and 1 year on labour.
Budget management	Renting a heat pump allows you to easily manage your budget. You’ll benefit from a flat rate for 7 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.
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.	Same for buying.
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 $64.99 per month, which comes out to $779.88 + taxes for a year. You’ll also be able to benefit from a $515 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 $64.99 per month and benefit from $29 in heating cost savings. That means your annual costs will only be $35.99.	Choosing to purchase a heat pump means you’ll be spending $5,599 the first year and about $250 to $300 in subsequent years on repairs.

In brief, both renting and purchasing a heat pump offer numerous benefits. 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.