If ever you hire a home security system company like Vivint, you might ask whether the equipment is yours or the property of Vivint. There are a few reasons why this question is crucial: As in many service contracts, there is a question about what happens if a customer decides to move or cancel the Vivint service. Also, knowing equipment ownership influences your action plans of upgrading or replacing a section of your system.
What Equipment is Used by Vivint?
It is made up of several gadgets that help in the monitoring of the house with the following;
- Touchscreen control panel: This hub interconnects your devices and can be used to program the system.
- Motion sensors: Monitoring for motion to ascertain if an intruder is in your area.
- Door/window sensors: The following is a list of recommended features: Alert when doors or windows are opened.
- Camera(s): Allows you to watch a live video feed of activity.
- Smoke detector: Goes off when smoke is detected The following are some of the important safety gadgets that are available in the market.
- Carbon monoxide detector: It is activated if poisonous amounts of carbon monoxide appear.
- Key fob: A portable gadget to control the system by arming or disarming the security.
- Yard sign and window decals: Scare burglars away by giving them the signal that you are a secured house.
Vivint has other add-ons like smart locks, glass break sensors, flood sensors, indoor/outdoor cams, and much more. The equipment supplied creates a system of relays that is unique to the structure of your dwelling.
Vivint's contract contains provisions that some customers may not find friendly or favorable in some way.
This is important to understand equipment ownership and therefore it is recommended that one should read the Customer agreement that he/she signs with the company. Vivint provides two primary contract options:
1. Rent to Own
If you choose a rent-to-own program, your agreement indicates that upon paying $36-$60 monthly installments depending on the exact terms stated in the contract, you are given full rights of ownership over the equipment that has been installed by Vivint.
During the initial months and years of your contractual agreement with Vivint, they maintain the proprietary right to take out their devices if you decide to terminate the monitoring services. However, once you have made the terms and payment, then the ownership of the equipment is transferred to you to a larger extent. As for benefits, rent-to-own has the benefit of Vivint guaranteeing the gear and replacing the things that cease working correctly.
2. Consumer Finance Agreement
If so, Vivint may arrange a consumer finance agreement for you either directly with Vivint or with a third-party financing provider. In this kind of contract, it simply means that you can choose financing for the equipment itself and the subsequent monthly monitoring fees.
The servicing costs include the principal and interest which is charged on the cost of the hardware until you are done paying. While it offers high value, no initial payment is required; once the system is installed and satisfies the client’s requirements, they own the security system. Charges in consumer finance agreements involve initially high equipment costs though relatively cheaper monthly costs as compared to rent-to-own.
How does the Exchange of Title Deeds Take Place?
One thing that one should not forget while signing up with this company is that he or she needs to know how the transfer of equipment ownership is done. There are a few scenarios to consider:
Canceling Service Mid-Contract: If you cancel the monitoring service before paying the full rental payment or financing then Vivint owns the equipment. They will betray the devices and set a date that the system will be uninstalled.
Moving to a New Home: With Vivint, the degree of transferring or re-using equipment is relative to the new location that you are relocating to. Additional limitations may be placed on the availability of a product on a regional basis and the cost of the product.
Selling Your House: When purchasing a home, the buyers can agree to continue using the Vivint service by having it installed in the new home. Fees may have to be adjusted or contracts may be modified.
Though it may be an inconvenience to let Vivint shut off and take out unused equipment secured risks that may occur if they decide to relinquish ownership before you obtain full rights.
How Do Upgrades and Repairs Work?
Two other essential ownership considerations involve upgrading your Vivint equipment over time and handling necessary repairs:
- Upgrades What Vivint does is from time to time introduce new devices in the market that are advanced versions fitted with newer features. Sometimes after several years of using the software that you have purchased, you may be in a position to upgrade it with some features at no extra cost if this has been agreed on in your contract or the terms of purchase. When it comes to consumer finance, the ownership is the same as when purchasing electronics, and upgrades are performed in the same manner.
- Repairs Incidental issues such as defects or malfunctioning are addressed free of charge under the included warranty by Vivint when it comes to own equipment. As for the rest of the years, you would pay for the repair just like you would pay for any other household appliance after its warranty period is over. Mobile contracts embrace the replacement of gear that does not work as required by the rent-to-own agreement.
Weighing Flexibility vs. Affordability
In conclusion, the issue of owning equipment from Vivint depends on whether one values the ability to transfer items from one home to another as opposed to obtaining free equipment with no upfront costs and free warranty replacements if they break down. Considering how long you intend to stay in that home will greatly assist in determining which of the contracts is most suitable.
However, if you envision remaining in one place for a couple more years, the rent-to-own procedure might provide more benefits from the financial aspect. On the other hand, buying your gears upfront offers more flexibility in mobility without bearing the loss of your system – albeit with the added upfront costs. Comparing all the costs and benefits makes it less difficult to come up with the best ownership method in your circumstances.
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