My mother, who recently passed away, had a lease agreement with Reliance for this equipment. The equipment is now 11 years old, and we contacted Reliance to obtain the buyout amounts. The water tank buyout is over $1,000, and the furnace buyout is over $4,100. We priced comparable new equipment, and it would actually cost less to purchase new.
It is extremely concerning that companies like Reliance can take advantage of seniors by locking them into agreements with indefinite 10-year terms that may not be fully understood at the time of signing.