An Ontario woman says she got locked into a 20-year contract for a furnace after coming across an advertisement that promised a government rebate.
Colleen Carter of Courtice, Ont. saw an ad on Facebook in April promoting a government rebate if you purchased a new furnace.
Carter told CTV News she clicked on the ad, and someone contacted her right away. She recounted that the salesperson told her that she was eligible for a rebate of $1,650.
Carter agreed to have a furnace installed and signed a contract to pay $12,000 over the next 20 years. She became concerned when she noticed the rebate cheque was from the HVAC company and not the government.
Carter said she also received an extra $250 for referring a neighbour.
She received a cheque for $1,900 from the HVAC company but was concerned about the lengthy contract she signed.
“I’m going to be 94 by the time the contract is over which makes no sense,” Carter said. “I’ve had sleepless nights over this, pulling out all the files saying, ‘My God, what is this?”
She signed the contract with JP Home Comfort of Brampton. CTV News emailed and phoned the company but did not receive a response.
Financeit responds
Carter then found out her agreement was subsequently taken over by Financeit.
When CTV News reached out to Financeit regarding Carter’s matter, a spokesperson said in a statement that the company “offers flexible purchase financing options for contractors and customers.”
“Homeowners choose their own contractor, agree directly with that contractor on the product or service being purchased, and the price to be paid. They can then choose to apply for financing through Financeit and choose a payment plan offered by their contractor that best fits their budget,” the statement notes. “Customers have the ability to pay off their Financeit loan in full, with no fees at any time. Financeit is not involved in setting the price a customer agrees to pay for a product or service, determining whether that product or service represents good value, or administering any government grant, rebate, or incentive programs.”
Carter told CTV News she felt she was misled and wanted to get out of the deal.
“I would like to not have this loan payment for the rest of my days, and I would like to buy out the furnace but not at the price they are expecting,” Carter said.
After CTV News reached out to both companies again, JP Home Comfort and Financeit agreed to work with Carter to let her out of the contract.
Carter returned the rebate and was allowed to purchase the furnace for $4,700.
“I’m so thrilled to have this taken care of,” Carter said.
