Throughout 2020 AWS customers have faced a tough choice when it comes to reservation planning between the recently announced Compute Savings Plans and Standard EC2 Reserved Instances (RIs). Compute Savings Plans give you the most flexibility, but Standard RIs offer substantially higher savings rates, creating a stark tradeoff. How do you get both flexibility & high savings?
We created Reserved.ai Lease RI to give our customers the savings of Standard RIs combined with even greater flexibility than the Compute Savings Plans.
How does it work?
The core of the offering is simple: any approved Standard RI you buy through us, you can sell back to us, guaranteed & instantly, via the official AWS RI Marketplace. This gives you the savings of Standard RIs combined with the flexibility to instantly sell back the commitment after only 30 days.
and can come with EC2 capacity reservations, so they can’t be interrupted and are even more reliable to use than On-Demand for mission critical workloads.
With Lease RIs we are unique in that we don’t just give recommendations, but actively take on the risk for you. We also automatically handle renewals, making the transition from Convertible Reserved Instances to Lease RI easy and seamless.
How much will I save?
AWS prices and savings differ by instance type, region etc. but typically a 3-year Standard RI (what we use behind the scenes to get the best deal) saves you around 57% compared to a 1-year Compute Savings Plan, the most flexible option you could get directly from AWS.
The Fine Print?
We can’t currently offer buyback on every single Standard RI in the AWS catalog, just a selection of highly demanded instances and regions. If you decide you need an instance type we don’t cover, with the increased flexibility, we can always help you craft a blended strategy with a Savings Plan or a Standard RI not leased through us to cover it.
Since all transactions occur on the official AWS Marketplace, you need to wait at least 30 days after acquiring an instance before you can sell it or trade it (this is an AWS rule).
Additionally, we do set a limit on the total cash value of the resources that we guarantee buy-back on. Of course, if you’re getting close to this limit, we’ll give you a heads up.
So given that RI Leasing gives you the savings of Standard RIs with even more flexibility than Compute Savings Plans, the only question is really, what are you waiting for? If you’d like to take advantage of Standard RIs with our buyback guarantee get in touch with us to schedule a demo.