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Pros and Cons of Financing an HVAC Purchase

HVAC heating and air conditioning residential units or heat pumps

There’s no way around it, investing in a new HVAC system is a major purchase. And if the need for a replacement pops up unexpectedly, you may not be financially prepared to spend the money on a new unit to begin with. In that case, financing is an excellent option.

But there are many other reasons to finance an HVAC system, too. If you’ve been thinking about HVAC financing in Rockledge, FL, give our team a call to talk about your different options. In the meantime, you can keep reading to learn more about the benefits and risks of financing an HVAC purchase.

When to Finance an HVAC Purchase

As we already mentioned above, if you don’t have the money on hand to purchase a new HVAC system, financing can save the day. Having a financing option can help you upgrade your older or broken HVAC unit to a brand-new model so that you have peace of mind that your unit has a long lifespan ahead of it. 

Even if you do have enough money saved to finance an HVAC purchase, you may not want to spend your hard-earned savings on that. Instead, you could maintain your savings and finance your HVAC purchase, knowing that you still have the cash on hand to pay off the loan if you need to. This can offer you a little more flexibility to maintain your savings in case something else major comes up that you need to spend money on.

Other times, you may have some money in savings, but not enough to cover the entire cost of an HVAC installation. In this case, financing can help you cover that additional cost. For example, an HVAC system with a minimum efficiency rating may be within your budget. But in order to get a high-efficiency unit, you need a little extra money.

Financing is a great choice if it is helping you to get a model with greater efficiency. High-efficiency HVAC systems will save you on your energy costs over the life of the unit. Plus, being more efficient means that the unit doesn’t have to work as hard to produce results, so it may enjoy a longer lifespan.

Potential Downside to Financing

Financing may not be the best option if your budget is already tight. If you would be struggling to make the monthly payment for an HVAC loan, you probably shouldn’t do it. Instead, talk to our team about your options for investing in maintenance or repairs that can keep your unit operating for a little longer. This can give you time to you plan ahead for an HVAC purchase and maybe be more prepared for it a year from now. 

Making families happy on the Space Coast since 1975. Schedule an appointment with Complete Air & Heat, Inc.

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