A Guide to HVAC Financing

Aug 09, 2021

HVAC system failure can lead to some unexpected costs that may not fit within your budget. However, if you try to repair a system at the end of its lifespan, you will end up paying more in the long run without reaping the benefits of a new heating and cooling system. As such, many home and business owners turn to HVAC financing. The experts at Newcomb and Company are here to answer all of your questions about financing your new HVAC system.

What Is HVAC System Financing?

HVAC system financing is a type of financing plan that allows you to pay for the cost of a new system over time rather than in one lump sum upfront. These plans typically give you a few borrowing options, ranging from loan programs and credit cards to private lenders and home equity borrowing. An excellent HVAC company will often also offer a few different types of financing programs for their customers to choose from, giving homeowners greater convenience and control over their financial choices. Two of the most popular options include specialty credit cards and personal loans:

  • HVAC Financing Credit Cards: One of the most popular options for HVAC system financing is specialty credit cards offered through a partnership between your HVAC provider and a reputable credit card company. These cards are often paired with promotional offerings, such as minimal to no interest for a specific period.
  • Personal Loans: Besides paying for an HVAC system with a credit card, you may want to look into air conditioner financing through a personal loan. Your credit score, income level, and amount of debt you have will often determine your personal loan’s interest rates and your application’s approval.

Benefits of Financing a New HVAC System

Since new AC financing allows homeowners to pay for an HVAC system over multiple installments, many people enjoy using it. Some other advantages of financing a new HVAC system include more manageable payments, increased energy and cost savings, and greater payment flexibility for future HVAC services.

Learn more about the top benefits of HVAC system financing below:

  • Lower upfront costs: One of the biggest draws to financing a new HVAC system is the low upfront costs. Since you’ll be paying for the system over time, you don’t have to worry about putting down thousands of dollars when you purchase a new system. If you like to keep extra cash on hand, the low upfront costs of HVAC financing can help you meet that goal. Additionally, financing an HVAC system also allows you to invest your capital elsewhere.
  • More manageable payments: When you finance your HVAC system, you can often work with a financier to develop a payment plan meeting your budget. As a result, you can select short or long-term financing plans, helping you keep your costs more manageable. You can also choose to put more money toward your new system at the beginning to lower your payments.
  • Increased energy and cost savings: While financing in itself most likely won’t save you money on its own, purchasing a new HVAC system can end up paying for itself. New HVAC systems have higher SEER ratings than older ones, leading to significantly more energy savings (and lower monthly bills). This benefit makes it wiser to finance a new system instead of continually repairing an older, failing system. Since these new systems deliver greater energy efficiency, they can also lower your energy bills, helping you save money and pay for your new system in the long term.
  • Greater payment flexibility for future HVAC services: With a new HVAC system, you will have peace of mind that your home and unit are protected. All new systems come with warranty agreements that safeguard your investment for years to come. However, you may still need to pay for maintenance services and occasional repairs down the road. If you choose to finance your new system with a specialty credit card, you’ll have more payment options for future maintenance and repairs. Instead of dipping into your monthly budget for a repair or other HVAC services, you can use your new credit card to finance your various HVAC needs. Since these cards often have promotional offers and rewards associated with them, they can be a very smart financial decision when you need to pay for other HVAC services.

How Financing Works at Newcomb and Company

At Newcomb and Company, we take pride in offering affordable and convenient new AC financing to our customers. When you utilize our financing options, you can expect to pay for your system in multiple installments at a price fitting your monthly budget. You can also choose to pay for a portion of the system upfront and then use your financing to pay off the remaining balance. This flexibility gives you the customization you need to stay within your budget and purchase the best possible system for your home.

Currently, our HVAC financing options include the Carrier Credit Card and the Wells Fargo Home Projects Card.

The Carrier Credit Card

The Carrier Credit Card features promotional offers, a secure online application, and an easy-to-use online bill payment option. Many of our customers enjoy how this card gives them affordable monthly payments on their new system and a revolving line of credit they can continue to use for other HVAC needs.

The Wells Fargo Home Projects Credit Card

The Wells Fargo Home Projects Credit Card provides users with special promotional offers, fast credit decisions, intuitive online account management, and convenient monthly payments. Like the Carrier Credit Card, it features a revolving line of credit you can use for other HVAC services and home projects.

Choose Newcomb and Company for Your New HVAC System in Raleigh

With our affordable financing options and excellent HVAC services, Newcomb and Company is ready to provide your home with a new, cost-effective HVAC system. If you’re in Raleigh, Wilmington, or surrounding areas, we can come to your home and replace your old system with the perfect HVAC system for your needs. Besides our standard options, we can also design a new HVAC system to meet your home’s unique requirements.

Review our financing and HVAC installation services today. If you have any questions, please feel free to contact us.

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