Can I Finance My HVAC System?

HVAC systems play a crucial role in our homes, especially in hot and humid Tampa Bay! However, the comfort that HVAC systems offer comes with a cost—heating and cooling represents 51% of a home’s energy consumption. Yikes! 

If you are planning to upgrade your system to meet new energy efficiency standards, you probably know that the initial cost of a new system is high. However, financing is viable under the right conditions. 

Can you finance your HVAC system? Sure! Our team at Super Heat & Air discusses the pros and cons!

The Pros of Financing Your HVAC System Install

There are multiple great reasons to finance your HVAC system including:

#1. Avoiding a Large Upfront Cost

The best advantage of loan financing is that you can avoid the large upfront cost of home improvements. Even if you have funds available to pay for the HVAC system upfront, a loan can free up that capital to be invested elsewhere. 

#2. Energy Savings 

In the case of HVAC systems, a loan can help cover the extra costs of investing in an energy-efficient unit. This can help you save thousands of dollars in energy costs over time, and these savings can help you pay off the loan. 

If the energy savings achieved are higher than the price premium and interest, the total system costs will be lower over time. 

To achieve the best savings, make sure to purchase efficient HVAC equipment. We recommend looking for the ENERGY STAR label from the United States EPA. This equipment has been tested for efficiency and performance under federal standards. 

Remember, efficiency metrics change depending on the type of HVAC equipment:

• Modern air conditioners use SEER or “Seasonal Energy Efficiency Ratio.”
• Furnaces and boils use AFUE or “Annual Fuel Utilization Efficiency.”
• Air-source heat pumps use HSPF or “Heating Seasonal Performance Factor.”

Just like a higher MPG value in your vehicle lowers fuel consumption, a higher efficiency HVAC system reduces your power and gas bills. 

Cons of Financing an HVAC 

Interest payments are the main drawback when financing an HVAC system. While the initial cost becomes zero, in exchange, the total cost becomes higher due to compounding interest. 

Interest rates vary widely depending on the loan type, and HVAC financing can be great when you have favorable terms. 

Home equity lines of credit or HELOC can be a viable option, especially if you have good credit. These loans can be found with interest rates below 5% and they have a typical repayment period of 10-20 years. 

The main drawback of a HELOC is that it places a lien on your property, which can make it difficult to sell if you plan to move before the loan is paid off. 

Super Heat & Air Financing

Having a well-functioning HVAC system in Florida is necessary.

At Super Heat & Air, we offer financing options that will make a new energy-efficient air conditioning system affordable to any homeowner! 

We offer zero percent interest for 60 months for Tampa Bay homeowners with qualified credit. Think about it, you could get a brand-new HVAC system for just $49 a month with approved credit. Nice! 

Final Thoughts

Financing your HVAC installation can be a smart decision under the right conditions. You can take advantage of the loan and buy equipment with higher efficiency, and energy savings will help cover the cost over time. 

HVAC financing works best if you have a low-interest option such as a HELOC. Loans with high-interest rates will make your HVAC installation much more expensive and can even negate the savings of energy-efficient units. Not good! 

Read More > Thermostat Tips & Tricks for Lower Energy Bills

Install a New HVAC System in Tampa Bay 

If you are ready to upgrade your HVAC system but need help with financing, contact our friendly heating and cooling pros at Super Heat & Air! We offer financing options that will help you get back to comfort ASAP! 

Contact us to learn more about financing at (813) 355-0288!