If you need a new boiler for your factory but aren't in a position to buy a new one right now, then you can rent a boiler instead. While some businesses find a regular rental that suits their needs, some boiler rental companies also offer lease-to-own deals.
What are the advantages of taking out a lease-to-own contract?
Try Out a Boiler Before You Buy
If you want a new boiler, but aren't sure which model to buy, then a straight purchase becomes a risk. If the boiler isn't the right fit for your needs, then you've made a significant capital investment on something that isn't a perfect solution.
If you arrange a lease-to-own contract, then you have a way out. If the boiler isn't the right one for you, then you can simply return it under the terms of your contract. You can then take a new boiler under similar terms to try that out if you want.
If you do like the boiler, then you can turn your rental into a purchase. For example, some rental companies allow you to carry on making regular payments until you've paid for the boiler. Or, you can pay the balance down at the end of your rental contract.
Spread the Cost of a New Boiler
Even if you're pretty sure which type of boiler you need, you might not be able to purchase it right now. This is a significant outlay if your finances are tight. So, you might have to stick with your old boiler and hope that it will last until you can afford a new one. This could leave you paying extra to run an inefficient boiler, and, if it breaks down, you won't have a boiler at all.
If you install a boiler on a lease-to-own contract, then you pay the equivalent of rental fees rather than having to make a larger one-off purchase. You can spread the cost of a new boiler over time. You might make rental payments on the boiler in regular monthly installments until you meet the final contracted price. Or you might pay monthly installments for a set amount of time with a balloon payment at the end. This option gives you time to put aside some money for the final payment.
This solution is often more cost-effective than an upfront purchase. Your initial rental fee payments aren't wasted; they go towards the final cost of the boiler. At the end of your contract, the boiler is yours.
To find out more about lease-to-own deals for rental boilers, contact local rental companies.
