A new HVAC system represents a major investment in health, comfort and energy efficiency. Modern heating and cooling equipment is engineered to provide dependable and quiet performance for many years of trouble-free operation.
The weather in northeast Ohio is unpredictable, and a reliable central heating and cooling system is essential, especially for young children and the elderly. Extreme cold or hot weather places added stress on HVAC system components, which, in turn, causes worn parts to fail outright. At Hey Neighbor Heating & Cooling, we recognize that many families don’t have the available cash needed to make a major HVAC purchase, especially if the expense is unanticipated. That’s why we’ve developed partnerships with several quality lenders to help our customers acquire a new, energy-efficient HVAC system. We offer financing plans tailored to fit each situation, and the money can be used for equipment purchases, repairs and maintenance.
Benefits of HVAC equipment financing
Sizable home improvement projects can place extreme stress on a homeowner’s cash flow, especially since most people haven’t budgeted for an HVAC replacement.
This is where financing options help bridge the gap between equipment costs and available cash, making the purchase process less traumatic and nerve-wracking. The quality customer service provided by financing partners also helps foster an enhanced level of trust between customer and contractor, especially if the contractor is knowledgeable, experienced and honest.
Perhaps most importantly, replacing old, obsolete equipment results in energy savings that helps pay for a large portion of the financing cost. In fact, replacing an older 10 SEER (Seasonal Energy Efficiency Ratio) air conditioning unit with an 18 SEER model will save up to 48% in annual cooling costs.
By financing the purchase and installation of your new residential HVAC system, you’ll stay comfortable while enjoying these great benefits:
- A fast, easy application process
- An expedited credit decision
- Multiple payment options including online, direct withdrawal and regular mail
- Current credit lines remain available
- Fixed rates and monthly payments
- Low minimum monthly payments
- Monthly online statements
- Periodic promotional opportunities
- No prepayment penalties or annual fees
- No liens are recorded
- No points, fees or closing costs
- No requirement for home equity
Since we’ll only work with nationally recognized lenders, you can rest assured your privacy is completely protected by the best encryption technology and most sophisticated security measures in the industry. Every application is evaluated quickly, and most credit decisions are issued within one business day.
How to obtain financing
Most consumers qualify for some level of financing for new HVAC equipment. To secure a low interest rate and receive a favorable offer, it’s important to gather supporting documentation that includes the following elements:
Your credit report. Your credit score is a significant influence on a lender’s decision to approve financing. The amount of funding and its accompanying interest rate are tied directly to your credit score. Your existing loans should be current, and it’s advisable to pay down credit cards and other revolving debt. Look over your credit report carefully and immediately challenge any inaccurate entries.
Pay stubs. You should organize your last three months of payroll information to provide income verification. Those who are self-employed will need supply proof of income with tax returns or deposit receipts. Anyone else listed on the loan – such as cosigners – will also need to show proof of income.
Letters of reference. For those with poor or minimal credit, a letter of reference can help establish a pattern of reliability. References from utility companies and employers can also be beneficial in demonstrating consistency and financial responsibility.
Price quotes. One of our friendly comfort specialists can help design a new HVAC system that will precisely match your home’s needs. Once your new system’s cost has been determined, you can select an appropriate financing package.
Should you repair or replace your system?
Since furnaces and air conditioners contain a wide array of moving parts, they’ll eventually need to be replaced, no matter how well-maintained. Equipment that is 10 years and older often experience frequent breakdowns that can be extremely costly and potentially lead to health and safety issues.
Air conditioning compressors are often very expensive to replace, and the efficiency of the unit can be compromised in the process. Heat exchangers in outdated furnaces may develop small cracks, which can result in carbon monoxide (CO) leaking directly into the living area. A furnace with a cracked heat exchanger absolutely must be replaced immediately. Failure to do so puts your family at risk – carbon monoxide is odorless, colorless and extremely dangerous. Don’t take chances with your family’s health!
Modern AC units must meet a minimum federal standard of 13 SEER. This standard was implemented by the Department of Energy to provide consumers with a simple way to compare the relative efficiencies of different models and brands of equipment. As a general rule, replacing an aging unit with a high-SEER model will improve comfort and enable a fairly short payback period.
Most older furnaces operate at 60% efficiency or less. This means 40% of the fuel used in the burn process is wasted and vented out of your home! A modern furnace replacement keeps your home warm and cozy in the winter and will lower your monthly heating bills as well.
Financing options for every budget
We provide complete HVAC replacement options for furnaces, heat pumps, air conditioners and package units. Our flexible financing plans are designed to make new equipment ownership a simple and budget-friendly process. Call us today and make the best first step you can make toward long-term comfort for your family.