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Direct Energy Or Enbridge ?




pratickm
Global Moderator
Member since: Feb 04




Posts: 2824
Location: Toronto


Quote:
Originally posted by RBO
Only question is now whether i purchase Water heater tank than cost would be $960+ HST = $1084.80. (all most 5 years old tank) or Pay monthly $30 to reliance?

Did you ask about the interest rate?

-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

 
Post ID: 171763 14-09-10 16:08:02
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RBO
Senior Desi
Member since: Aug 06




Posts: 1752
Location: Mississauaga


Quote:
Originally posted by pratickm

Quote:
Originally posted by RBO
Only question is now whether i purchase Water heater tank than cost would be $960+ HST = $1084.80. (all most 5 years old tank) or Pay monthly $30 to reliance?

Did you ask about the interest rate?



Hi pratickm,

I called almost twice and they didn't give me the right answer about the interest rate. but last time i talked with sales deptt and she told me about $960 + Hst for buying the tank.

Still i didn't loose hope and keep calling them for the right answer.

rgds


 
Post ID: 171766 14-09-10 16:34:56
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Desi # 1
Senior Desi
Member since: Dec 03




Posts: 1420
Location: Mississauga


Quote:
Originally posted by RBO

Quote:
Originally posted by pratickm

Quote:
Originally posted by RBO
Only question is now whether i purchase Water heater tank than cost would be $960+ HST = $1084.80. (all most 5 years old tank) or Pay monthly $30 to reliance?

Did you ask about the interest rate?



Hi pratickm,

I called almost twice and they didn't give me the right answer about the interest rate. but last time i talked with sales deptt and she told me about $960 + Hst for buying the tank.

Still i didn't loose hope and keep calling them for the right answer.

rgds



why do want to buy old tank for full price. I believe the companies have depreciation model whereby tank has no value after 4 or 5 years. They will not sell it you for free but you can get out of contract with them with no cost to you. Then you can get your own. In mississauga, 40gallon rent is $24 p.m.

Just beware of two more companies- National and Summit


 
Last edited by: Desi # 1 on 14-09-10 19:45:43
Post ID: 171779 14-09-10 19:44:27
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RBO
Senior Desi
Member since: Aug 06




Posts: 1752
Location: Mississauaga


Thanks Desi # 1 for suggestion,

Actually if i go to cancel the contract with them than As per Reliance i am going to end up with paying Reliance almost $325 all together for cancellation charges. and if i am contunuing with them than i am going pay almost $360 / year what i understand is big draw back is to buy a tank is if anything is going wrong afterwards than i have to pay for repair and everything.

What i am thinking on this point to go with Relinace as everything is set up in house by them, if i go with another company again same B*******T will start with them too....

I Enquired at Home Depot for new Gas water Heater tank PVR 50- 80, 50 gallon tank capacity wil cost me $1615 with installation and all taxes together. Price seems looks to me too high.







 
Post ID: 171812 15-09-10 09:19:37
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pratickm
Global Moderator
Member since: Feb 04




Posts: 2824
Location: Toronto


Quote:
Originally posted by RBO
Actually if i go to cancel the contract with them than As per Reliance i am going to end up with paying Reliance almost $325 all together for cancellation charges. and if i am contunuing with them than i am going pay almost $360 / year what i understand is big draw back is to buy a tank is if anything is going wrong afterwards than i have to pay for repair and everything.

As I said earlier, that part sounds totally wrong/rip-off.
There should be NO difference to your service and maintenance contract whether you pay monthly or buy-out.
Which is why I am suspecting that they are ripping you off on the interest rate for monthly payment - what they really want is the interest payment and not sell you the water tank outright.
The numbers are not adding up.
$960 with 5 years remaining and a monthly payment of $30.59 works out to approx. 30% annualized APR rate.
There is either some other type of fees or charges blended into this $30.59 or something else is going on that they are not telling you.
Can you ask them for a statement for last few months?
Have you fully reviewed the contract that you got from them or from your lawyer during the closing?

-----------------------------------------------------------------
"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."

-- Rhett Butler in "Gone with the Wind"

 
Post ID: 171813 15-09-10 09:30:40
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RBO
Senior Desi
Member since: Aug 06




Posts: 1752
Location: Mississauaga


Quote:
Originally posted by pratickm

Quote:
Originally posted by RBO
Actually if i go to cancel the contract with them than As per Reliance i am going to end up with paying Reliance almost $325 all together for cancellation charges. and if i am contunuing with them than i am going pay almost $360 / year what i understand is big draw back is to buy a tank is if anything is going wrong afterwards than i have to pay for repair and everything.

As I said earlier, that part sounds totally wrong/rip-off.
There should be NO difference to your service and maintenance contract whether you pay monthly or buy-out.
Which is why I am suspecting that they are ripping you off on the interest rate for monthly payment - what they really want is the interest payment and not sell you the water tank outright.
The numbers are not adding up.
$960 with 5 years remaining and a monthly payment of $30.59 works out to approx. 30% annualized APR rate.
There is either some other type of fees or charges blended into this $30.59 or something else is going on that they are not telling you.
Can you ask them for a statement for last few months?
Have you fully reviewed the contract that you got from them or from your lawyer during the closing?



They didn't give me any contract copy its just invoice/bill copy they send it to me said that i have to pay $149.01 for in advance for next 3 months.

Today i call Reliance again and its cover only my gas water heater tank for $30.59 / month. b'cos i call them so many times now they are not transfering my call to rental supervsiors and saying no one is available now just taking my phone no and nobody is calling me back.

i just got a reply from Direct Energy below:

Good Morning,

I actually do not have the cost of installation for new equipment (purchase or rental). I know that a Power Vented 50 gallon Gas water heater is $22.99/mth as a rental. To get the actual cost of installation, you would need to speak with our Water Heater Department (Rental Specialists). They do have the cost to purchase new tanks and cost of installation.
You can reach us 24 hours/day, 7 days/week @ 1 800 266-3939.

Sincerely,

Direct Energy Home Services
JRB


 
Post ID: 171832 15-09-10 11:43:56
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RBO
Senior Desi
Member since: Aug 06




Posts: 1752
Location: Mississauaga

Final Result
Sick and tired with this all B*****T finally, I gave them up for all this .

contract with them for 1 years with following things.

Rent/ month $27.50 instead of $30.59

Account transfer fee - waived off

2 months free



 
Post ID: 171922 16-09-10 12:19:47
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Contributors:
AshwaniG(6)  Blue_Peafowl(2)  Desi # 1(2)  desi_driller(2)  dudewheresmycar(3)  hchheda(1)  indiarocks(2)  
manserwadekar(2)  pratickm(6)  RBO(11)  
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