Replacing your old heating and cooling system with a modern HVAC system is an expensive undertaking. The average cost to replace an HVAC system is between $4,000 and $9,000. This is a large sum of money that many hard working families don't have around.
Financing an HVAC system is one way you can receive the benefits from a new system, without the drawbacks of paying for it in one lump sum. Here are just a few of the benefits financing offers those who are interested in replacing their HVAC system.
For those that do have several thousand dollars available for a system, using that money can drain their savings and leave them vulnerable to an emergency. If something else happens while their savings recovers, they may not have the ability to handle that emergency well.
Smaller, manageable payments over time can help spread out the burden of an HVAC price tag, helping to retain that savings in case of emergency.
It's also more practical in that you don't have to wait to save the money for the HVAC system, hoping your current one doesn't require expensive repairs in the meantime. You can benefit from the HVAC system right away as you make small, affordable payments each month. There's no reason to have to suffer through poor weather or endure months or years of faulty systems. You can get a system right away through the many financing options available.
Sometimes the reason why families hesitate to replace their current HVAC systems is due to an inability to afford it at all. Many large purchases come with a required down payment, which is out of the price range for many people on tight budgets.
If you can afford monthly payments, but can't afford to put hundreds or thousands down in a lump sum, there are payment plans available that don't require any down payment at all. They are an excellent way to make HVAC systems affordable for everyone.
Old systems are vulnerable to breaking down. Suffering from the heat or cold due to a broken system is never enjoyable, and during busy seasons such as periods of hot or cold weather, there may be delays in helping you repair it.
By investing in a new system, you are also avoiding costly repairs since new systems rarely break down the way old ones do. You'll be able to enjoy a climate controlled environment all year round, and save on big bills from people coming to service your old, broken system.
There are many great reasons to finance your HVAC system. If you have been thinking about getting a new system, but hesitate due to the high price, or out of fear of not being able to afford an emergency after paying for a system, financing might be a good option for you.