Financing Options for Your Next HVAC Upgrade
Your HVAC is basically blowing tepid air, but you can’t afford to replace it. Too many people are in this situation. They’re actually spending more in the long run on increased cooling costs, but they simply don’t have the money to do anything about it.
Fortunately, we offer various HVAC financing options to allow you to spread the cost of your new system out over time. You can pay it over a few months or even a few years as long as you can get approved.
Here are some of the options we have for our customers:
GreenSky
GreenSky offers loan periods of as long as 180 months with an APR under 10%. But if you pay in full within 12 or 18 months, there’s no interest, making this a good option for many customers. You need to get credit approval, but you can end up paying as little as $100 a month for your new system or pay it off later when you have the money.
They offer minimum monthly payments for interest-free loans. However, these minimum payments won’t pay off the balance before the end of the promotional period. So, it’s best to pay off the loan immediately. Still, if you just have a “cash flow” problem, GreenSky is an excellent choice.
Synchrony
Synchrony offers a variety of HVAC financing options and will give you a quote instantly. This can be handy when your system has broken down entirely, and you need service now. There are no hidden fees, no balloon payments, and no impact on your credit score from pre-qualification.
They do financing for services, too.
Choosing the Right Loan Option
Don’t rush into financing. It can be hard when you’re sweating with a broken system in the summer, but compare quotes and consider your budget. Longer loan periods result in lower payments but a higher overall cost. While the 144- and 180-month options have low fees, at 180 months, there is a risk that your system will not outlive the loan.
If you’re very low on funds, though, choosing an extended loan period in the hope that you can pay it off sooner is a reasonable risk.
Look at the loan terms, payments, and interest rates, and explore options for early payoff. Also, consider how much your utility bills will drop. If you’re used to high bills, you might be able to afford a higher monthly payment than you thought.
Explore Your HVAC Financial Options Today!
If in doubt, we can help you choose between the three lenders we work with and give more advice on financing your new HVAC system. Contact Mid-Fla Heating & Air to learn more and get your new HVAC system sooner rather than later.
