If it’s time to upgrade your HVAC system, you may be considering financing as an option. Whether you have the money or not to pay for a new furnace, heat pump, or air conditioner, financing can make sense in a lot of cases.
You can keep reading to learn more about new HVAC system financing in Memphis, TN. We are offering some of the reasons that you might consider financing a new unit so you can make the right decision. If you have any questions about your options, just give us a call and we can review them in greater detail with you.
When HVAC Financing is a Good Idea
If you don’t have the money to pay for an HVAC system but need to make an upgrade, financing makes obvious sense. You need a new heater or air conditioner because yours isn’t working anymore and you can’t go without heating and cooling. But there are other times when financing is a good idea, too.
One reason to finance an HVAC purchase is to maintain your savings instead of investing all your money into home improvements. Even if you have enough available to pay for an HVAC system in full, a loan ensures that you can keep that money free for other purchases or needs that arise.
You may have some savings, but not quite enough to invest in a high-efficiency model. Financing all or a portion of the purchase can allow you to upgrade to a better system. Then, you’ll save money over the life of the unit by lowering your energy costs for heating and cooling your home.
Saving a little extra may not seem like that big of a deal, but the savings can add up to thousands of dollars over the life of the unit. Even when you take the financing into account, you’ll still save more than you’ll spend over 10 to 15 years.
When you look at energy efficiency, check for high SEER2 ratings for cooling and high HSPF2 ratings (for heat pumps) for heating. Our team can talk to you about the minimum accepted ratings for both and then review your options for upgrading efficiency.
How Financing Works
You may already have a bank or credit union in mind for financing. If not, our team can help. We can help you decide on an HVAC system and then decide how much of the purchase you want to finance. You’ll know how much your interest rate is and what your monthly payment will be before making any type of commitment.
Then you can finalize the loan through our partner (or your own financial institution) and let us take care of the rest. We’ll make sure that the installation goes smoothly and that you understand how to work your new HVAC system after it gets installed. We can offer additional tips for caring for the unit and then provide maintenance and repairs over the life of the unit.
Since 1943, it’s been Automatic in Memphis! Contact the experts at Automatic Air Conditioning, Heating & Plumbing to get started on financing your new HVAC purchase.
