My parents got a Rinnai and pretty much hate it.
There is no cost savings of any kind because of the amount of energy it uses and the amount of water it wastes.
So yes, its true that you 'never run out of hot water' which is awesome in case you decide to channel your inner Cosmo Kramer and choose to live in your shower, but otherwise its a real pain in the ass.
As others have said the water takes forever to heat up and doesnt get as hot as a normal water tank.
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