Water Heater Financing & Leasing: Your Comfort is Our Priority
Signs Your Water Heater is Going Bad
If you are experiencing any of these signs it is an indication your hot water heater is probably ready to be replaced:
Your hot water comes out looking dirty or has a tan tint to it: If you notice your water looking tinted and is no longer clear, it might be a sign of rust inside the tank. It may not occur when running cold water, but if your hot water begins to turn rusty or tan, then it is a sign that the water was standing in a rusty tank.
Rumbling, banging or clanking noises: If you live in an area with hard water, there may be calcium deposits from scale building up forming a crust at the bottom of the tank. When these mineral deposits grow and corrode your pipes, it will begin to rumble and knock, every time the water heater turns on and is running.
You see water puddling around the base of the hot water tank: The calcium deposits and rust caused by the scale buildup will corrode the metal of the tank itself, causing small leaks. If the cause is not a leaky pipe connecting to the tank, and the tank itself is beginning to leak, this will only get worse. And, the tank is under pressure and could flood the whole room with an unlimited supply of domestic water.
Cooler water temperature even when the “hot” is turned up: If your hot water doesn’t get as hot as it used to, even when you turn up your water heater’s temperature gauge, it is a sure sign the water heater is on its last legs.
Can you finance or lease a water heater?
Yes, thankfully today you may finance or lease your hot water heater replacement or installation quickly and easily. Not everyone has extra money just sitting in a savings account, and using high-interest credit cards to pay for an emergency expense like replacing a leaking hot water tank may not be the most prudent decision. With Microf’s Lease Purchase Programs, you can avoid large upfront payments and make monthly lease payments instead. No long-term commitment and you can own your water heater outright once all payments have been made.
How much more does it typically cost to replace a water heater?
Often, the price for replacing a hot water heater can actually be pretty comparable to what it would cost to try to repair the old unit. A new system will be more efficient, and probably save money in monthly energy bills. There are of course levels of hot water heaters available, and you can spend quite a bit more for tank-less and solar heating systems. Financing these large expenditures can keep dollars in your pocket and save you from draining your bank account at the time of the unforeseen emergency.
Can you finance or lease a hot water heater with bad credit?
Yes, today financing or leasing a hot water heater with challenged credit is definitely possible. If you have a low credit score, you still have a couple options at your disposal. These include using credit cards or a lease purchase funding program. A quality lease purchase program like Microf’s offers flexible, pay over time finance options with the ability to pay off early. Apply for a lease with Microf and keep the credit available on your credit card for future emergencies, when leasing is not available.
What is the average life of a hot water heater?
The general consensus is that a typical hot water heater should last on average between 8 to 12 years. It is possible that your existing hot water tank could last longer than that, but if so, this is the time to expect a drop in efficiency and scale buildup that could lead you to replace it before it begins to leak and flood your living space.
If you have a tank-less heater, it could possibly last up to 20-years or so, however when corrosion becomes noticeable, you will want to replace it as well.
Should I replace my 15-year-old water heater?
If you have a typical hot water tank heating system, you are already beyond the suggested life expectancy of your tank. It would be prudent to consider replacing the hot water tank, as it could very well begin to leak, and flood the room your unit is in.
If your older system looks to be functioning okay, you do not have to run out and immediately replace it just because it is 15 years old, however you should keep an eye on the tank and look for signs of corrosion and leaking. On the other hand, if you own a tank-less heater, you still may have 5 more years of life expectancy, but keep an eye on scale buildup. Getting your water heater serviced and flushed annually can help extend the life of tank and tankless heaters.
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