Replacing your home’s heating and cooling system can feel like a big decision. If it’s nearing time for an upgrade, you might find yourself wondering, “Can you finance an HVAC system?” The good news is that, yes, HVAC financing is widely available and offers a variety of options to help you keep your home comfortable without breaking the bank. Whether you’re replacing an older unit or installing a new HVAC system for the first time, HVAC financing can spread out the cost, making it more manageable for many families.
In this blog, we’ll cover everything you need to know about HVAC financing options, the benefits, and what you should consider as you weigh your choices.
Why Consider Financing for an HVAC System?
We all use HVAC systems to maintain a comfortable home year-round, but their cost can be daunting. With HVAC financing, you can break down this expense into manageable monthly payments, leaving more room in your budget for other priorities.
Additionally, prices for new HVAC systems are expected to rise by approximately 25% beginning January 1, 2025. This increase is due to new EPA refrigerant regulations aimed at reducing greenhouse gases under the American Innovation and Manufacturing (AIM) Act. These changes will impact the production and use of refrigerants like R-410A, making it more costly to produce HVAC units that use them. By financing an HVAC system now, homeowners can lock in a lower price before these costs climb.
How Can You Finance an HVAC System?
As a homeowner, it’s important to know that you can finance an HVAC system through various options, allowing you to spread the cost over time rather than paying a lump sum upfront. Financing is particularly helpful for those unexpected breakdowns that put a strain on your emergency fund.
HVAC Company Financing
Many HVAC companies offer financing that is tailored to help homeowners manage the costs of a new HVAC system. These in-house financing plans are designed for convenience. With Arlinghaus, for example, you can get fast financing approval, making it easy to start your HVAC replacement or upgrade quickly.
Factors to Consider When Choosing HVAC Financing
Choosing the right financing option depends on several factors unique to each homeowner’s situation. Here are some key points to consider:
Interest Rates and Loan Terms
Interest rates can vary considerably between financing options, from competitive rates offered by banks and credit unions to higher rates typical of personal loans or credit cards. Monthly payments and loan terms will impact the total cost of your HVAC financing, so it’s worth comparing options.
Your Credit Score and Credit History
Your credit score plays a significant role in determining your HVAC financing options. Many financial institutions and online lenders require a minimum credit score to qualify for favorable rates. If you have a low credit score, you may still find financing, but expect to pay higher interest rates.
Payment Flexibility and Financial Goals
If you’re looking for lower monthly payments, an extended loan term may help, though you’ll pay more in interest over time. On the other hand, if you’re comfortable with larger monthly payments, you may prefer a shorter loan term to pay off your HVAC system faster.
HVAC System Cost and Efficiency
While financing allows you to spread out the cost, it’s still important to consider the total HVAC system cost and its long-term efficiency. More energy-efficient systems may have a higher upfront cost but can save you money on energy bills over time.
Steps to Finance an HVAC System With Arlinghaus
At Arlinghaus, we understand that financing a new HVAC system can feel overwhelming, so we’ve designed our HVAC financing options to be as straightforward as possible. Here’s how you can get started:
- Evaluate Your Needs: Speak with an HVAC specialist at Arlinghaus to determine the best HVAC system for your home, including any special requirements based on size, insulation, and climate.
- Explore Financing Options: Arlinghaus offers financing options with immediate credit approval and no minimum purchase requirements, allowing you to choose the financing plan that best fits your financial situation.
- Apply Online: The application process is quick and easy. Many homeowners can complete the application from home and receive a decision almost instantly.
- Get Your System Installed: Once approved, Arlinghaus will coordinate with you to schedule the HVAC installation on a day that works best for your family. We’re the team you can trust for all things air conditioning in Cincinnati and the surrounding areas.
Is HVAC Financing Right for You?
While financing may not be for everyone, it can be an ideal option if you’re facing a sudden HVAC replacement or looking to spread out the cost of a more efficient unit. Especially with rising costs due to upcoming refrigerant regulations, now might be the best time to invest in an energy-efficient HVAC system.
So, can you finance an HVAC system? Absolutely! And if you choose to finance with Arlinghaus, you’ll experience a hassle-free process designed with your comfort in mind. We’re proud to serve the residents of Erlanger, KY, Cincinnati, OH, and the nearby communities.
Ready to Upgrade Your HVAC System? Let Arlinghaus Help!
If you’re ready to explore your HVAC financing options and enjoy a more comfortable home, Arlinghaus is here to help. With immediate credit upon approval and a straightforward application process, we make it easy to get the system you need without straining your budget.
Whether you’re interested in a new air conditioner, furnace, or an entire HVAC system replacement, our team is ready to guide you through each step. Schedule your air conditioning and heating services in Erlanger or Cincinnati with Arlinghaus today!