Hansberger Refrigeration Blog: Your AC Repair Resource

Do You Know How to Secure Financing for HVAC Replacement?

HVAC systems top the list of expensive, must-have home appliances. Fortunately, finding financing for HVAC replacement is as close as your phone and computer. These sources might help you find the ideal program to increase your home comfort and reduce your energy costs with a new system.

Private Sources

  • Personal loans. Many lenders who make personal loans are online. After you fill out their application, they take up to 24 hours to approve your loan. Amounts range from $1,000 to $50,000 and more.A personal loan is unsecured, and the lender does not require that you disclose how you will spend the money. The interest that they charge depends on your credit score and worthiness as a borrower, as well as your income.
  • Dealer financing. As a premiere Lennox dealer, Hansberger Refrigeration and Electric Company is able to offer financing to our customers. Lennox has financing for HVAC replacement for different credit profiles and HVAC systems. They can approve loans within minutes of receiving the online application.
  • Credit cards. You might be able to fund some or all of your HVAC investment using a credit card, but this might be the more expensive option, since credit card interest rates can be higher than a personal loan or dealer financing.However, if you have a zero-interest-rate card and many months left on the grace period, it might make financial sense to finance the HVAC system with a no-interest credit card.

Public Sources

You may be able to find various public programs that may not help you finance the system entirely but could help offset the cost of a replacement. Typical public programs include tax or purchase rebates or assistance programs for income-qualified homeowners.

You may also be able to take advantage of an FHA 203(k) refinance loan to improve your home’s energy efficiency and install a new HVAC system that meets the loan’s criteria.

Bottom Line

Financing for HVAC replacement is available, and when you work with a pro from Hansberger Refrigeration and Electric Company, you’ll find the best program for your needs when it comes to financing for HVAC replacement. Please contact us today to learn more and let us help you with your home-comfort goals.