You already know the story: you’ve been dealing with a failing HVAC system for months, perhaps years, and can’t take it anymore. You need to install a new model, but it’s a little beyond your budget.
Should you just hold out for another year or two and hope your system doesn’t break down? Instead of dealing with more uncertainty, consider financing options. This useful payment method lets you get the exact HVAC size and model you need without breaking the bank.
Learn how to finance an HVAC system with our short guide. We’ll explore the pros and cons so you can make the best choice, and don’t have to deal with a worn-out or broken HVAC any longer.
Want an assessment to see which HVAC system is right for your home or business? Schedule an appointment online, and we’ll send over one of our experts.
How Does HVAC Financing Work?
Can you finance a new HVAC system the same way you finance a car or furniture? Depending on the HVAC business, yes. If you aren’t able to pay for your new HVAC system in full up front, financing options let you make monthly payments with low or no interest over a specific period.
Different companies will have unique financing policies, such as no prepayment penalties or no interest for a certain amount of time. Businesses and homeowners alike are turning to HVAC financing for its accessibility. They can get inspections and new installations, and set up monthly payments, all in one place.
HVAC Payment Method Options
You may be considering other payment options for your new HVAC system. Let’s take a look at your options so you can get the full picture of your future installation.
Debit Cards or Cash
Saving up and paying for a new HVAC is the most straightforward option. You don’t have to worry about keeping up with monthly payments or potentially racking up interest, though this option is difficult when you don’t have thousands of dollars on hand. If you don’t have time to wait months or years to save, you’ll need an alternative.
Loans
You may consider learning how to pay for an HVAC system through a loan. You’ll have to contact a lending office and see if you qualify for the amount you need for a new installation.
If you want to learn how to finance an HVAC system with business or personal loans, you have to learn about different loan types. These loans may come with lower or higher interest rates depending on your credit score. While loans shorten the wait period for your HVAC, they can sometimes come with extremely high interest rates that are harder to pay back.
Credit Cards
You may consider using a credit card if you don’t have time to save, but still don’t want to take out a loan. You’ll have to commit to monthly credit card payments to pay off the full amount, which may come with variable interest rates, or a low introductory offer that moves to a higher rate after a set number of months.
This option is similar to a loan and doesn’t require new paperwork, though interest rates are generally higher. Failing to meet your payments may bring penalties, raise your interest rate, and lower your credit score.
Financing Options
Do most HVAC companies offer financing? Nowadays, many HVAC companies partner with third-party financing providers to offer homeowners alternatives to credit cards and loans. They build financing options with your needs in mind so you don’t have to delay essential replacements.
You’ll receive flexible monthly payments for your HVAC with low or no interest, depending on various factors, like your credit score. While each service will have different requirements, a credit score of between 600 and 700 is a good range for lower interest payments.
You can also customize your financing request to include other essentials, like indoor air quality services or plumbing needs.
Now that you know how to finance an HVAC system, learn even more about how to get the most value out of your purchase. Read our ultimate guide on different systems, maintenance, and money-saving tips.
Who Finances HVAC Systems and How Can I Get Started?
ARS partners with Good Leap to offer customers flexible financing for HVAC systems. Whether you need to finance a new installation or a crucial repair, we’ll meet you halfway.
We also offer specials to save you even more and our Exceptional Service Guarantee to give you peace of mind. You can get started by reaching out to our team and seeing if you qualify.
Get the HVAC you’ve always wanted. Call our team today to ask about our HVAC replacement financing options!
