Financing a New HVAC System

In spite of your best efforts to prepare for every financial contingency, unforeseen circumstances can still arise.

HVAC systems are frequently taken for granted until they begin to seriously malfunction. In these circumstances, you may be tempted to simply fix the system to keep it running as long as possible, giving yourself extra time to save up to buy new equipment. It’s understandable why you might choose this route. However, patching things up will only work for a short period of time and will cost you money. There will come a time when the system will completely fail, and then you will have no choice but to go all in on new equipment whether you’re ready or not. To help cover the costs of equipment purchase and installation, every reputable HVAC contractor offers financing options. For HVAC purchases, a variety of financing options are usually available, all tailored to meet the needs of customers regardless of income and budget. You will be required to provide some proof of income, usually for the past three months, to prove your eligibility for financing. Pay stubs are usually adequate, but if you are self-employed, you can prove your income with tax forms or business ledgers. The contractor will run a credit check before financing is approved. Even if your credit score is low, you may be able to get financing if your income is acceptable and you provide letters of reference from people who can attest to your reliability. Financed HVAC purchases will result in a new monthly bill, but modern HVAC equipment is highly energy-efficient and should cut your energy bills by 30-50 percent, depending on the age of your existing system. Therefore, your overall monthly expenses might actually decrease if you finance and install an energy-efficient heating and cooling system.
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