Is HVAC Financing Worth It?

Jul 18, 2022

If you’re interested in purchasing a new HVAC system, you’ll have the option to pay for it all at once or take out a personal loan. While both options have benefits, HVAC financing is popular among homeowners. Since new HVAC systems tend to cost thousands of dollars, it’s important you know if HVAC financing service is worth it and the advantages it provides compared to paying for an entire system upfront. 

Can I Finance My New HVAC System? What Is HVAC Financing?

HVAC financing refers to personal loans designed to help homeowners pay for new HVAC systems. Essentially, this type of financing gives homeowners the chance to pay off their new system on a set schedule rather than pay for it all at once. Instead of searching for financing on your own, you should also know that the best HVAC companies will have various financing options to help their clients pay for a new system.

Why Is HVAC Financing Worth It?

Whether you’re purchasing an HVAC system for a newly-constructed home or want to replace an old system with a more energy-efficient model, you’ll need to decide how to pay for it. One of the best options for many homeowners and businesses is to go with a financing option. Before you decide if HVAC financing is right for your needs, check out its top benefits below:

  • Increased payment manageability: Buying an HVAC system in one payment can be unaffordable to some and put a serious dent in others’ monthly budgets. In contrast, HVAC financing allows you to pay off a new system in multiple increments. This increased payment manageability can help you stick to your budget and afford a new system that you might not have been able to initially. Sometimes, financiers will also help their clients create payment plans personalized to their unique financial goals.
  • More opportunities to purchase the most advanced system: If you’re trying to purchase a new system with money upfront, you could be limiting your HVAC options. While you might not be able to afford the most energy-efficient and longest-lasting system with cash, financing gives you the opportunity to afford the best system possible. Since you’ll pay for the system in smaller payments, financing is a great choice when you want to purchase a higher-priced system that features the greatest energy efficiency and long-term cost savings.
  • Future HVAC service payment flexibility: A credit card made for HVAC products and services is one of the most popular forms of HVAC financing. For example, Well Fargo and Carrier both offer credit cards to assist with the cost of HVAC systems. After you take out one of these cards, you can continue to pay for future HVAC services with them. As a result, these credit cards allow you to afford more home improvement services, as you can break them down into manageable payments.
  • Higher chance to build your credit: When you buy an HVAC system with cash, it won’t help you build your credit. In contrast, financing your system can give you the chance to increase your credit score and show lenders you have a history of paying back loans.
  • Greater cash availability: With a financed HVAC system, you won’t have any large upfront costs, and you might be able to install a new HVAC system without putting any money down. The low upfront costs translate to more cash availability, freeing up homeowners’ cash for other purposes. For example, if you need to pay for other home upgrades, you’ll have the cash available to pay for them by financing your new system.

Turn to Newcomb and Company for HVAC Financing Services in Raleigh

When you’re interested in purchasing a new HVAC system and want to finance it, Newcomb and Company can help. Through our partnerships with Wells Fargo and Carrier, we offer financing options to homeowners in Raleigh, Wilmington, and the surrounding areas. Our HVAC credit cards ensure our clients have the flexibility to keep their new HVAC system within budget and meet their financial goals. Alongside providing financing options, we offer custom-designed HVAC systems to give our clients the best in comfort and energy efficiency.

Learn more about our HVAC financing services today. If you have any questions or want to purchase a new HVAC system, please contact us.

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