SNAP Home Finance and Your Ontario HVAC Contract
A finance company that holds payments on a large number of Ontario HVAC and home equipment contracts originated by other sales organisations.
SNAP Home Finance is a finance company that holds and collects on a large number of long-term home equipment agreements in Ontario. SNAP did not originate these agreements at the door; underlying sales were made by separate installer organisations and the agreements were later assigned to SNAP for financing and collections.
Under Ontario law, when an underlying agreement is challengeable because of how it was sold, the rights of the assignee are no greater than the rights of the original seller. A contract held by SNAP can still be addressed.
Our position is not that SNAP engaged in wrongdoing. Our position is that the underlying agreement was unenforceable under the 2018 amendments, and that conclusion applies to the version of the agreement now held by SNAP.
Also known as: SNAP Financial, SNAP.
What These Contracts Typically Look Like
- Long terms — typically 10 years or more
- Payments collected by SNAP even though the original sale was by a different company
- Total obligations many times the equipment's installed value
- Property registration on title (NOSI prior to 2019, or similar lien-style filings) placed at the time of the original sale
- Confusing buyout language
What We Hear from Homeowners
- Surprise that the contract is held by SNAP rather than the original installer
- Difficulty obtaining clear cancellation or buyout numbers
- Buyout amounts disproportionate to the equipment's value
- Lien on title discovered at refinance or sale
- Continued payments owed even after the original installer has gone silent
Which 2018 Amendments Are Likely to Apply
The 2018 amendments to Ontario's Consumer Protection Act identify several practices that can render an HVAC agreement unenforceable. Where the underlying agreement (now held by SNAP Home Finance) was originated through any of these practices, the same conclusions apply:
Unconscionable Pricing
Pricing set in the original agreement remains subject to the 2018 amendments after assignment to SNAP.
Unsolicited Contact
If the original sale was at the door, the agreement may be unenforceable, and that conclusion travels with the contract.
Misrepresented Energy Savings
Misrepresentations made at the original sale remain part of the contract record.
Unfulfilled Maintenance
Maintenance promises in the underlying agreement remain enforceable obligations.
Only one of these grounds needs to apply for the agreement to be challenged successfully.
What to Do If SNAP Home Finance Is Collecting on Your Agreement
- 1Locate the original agreement, not just SNAP statements.
- 2Photograph the data plates on the installed equipment.
- 3Check your title for any registration.
- 4Let us address SNAP and the original installer on your behalf.
- 5Book a free, confidential review.
Public Record
You do not have to take our word for any of this. The pattern is well documented in:
- Ontario consumer protection enforcement actions
- CBC and Toronto Star reporting on Ontario HVAC rental and finance practices
- Better Business Bureau records concerning underlying installer companies
Is the Underlying Agreement Behind Your SNAP Home Finance Statements Enforceable?
If SNAP Home Finance is collecting on your HVAC contract, the underlying agreement may still be challengeable. A single free conversation is all it takes.