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Is it possible to get a long-term loan on a new A/C unit?
Question : Is it possible to get a long-term loan on a new A/C unit?
I live in the Nevada desert, and I want to replace my 3.0 TON split system A/C SEER 10 unit with a more efficient SEER 13 or higher unit, same size. I have very good, but not excellent credit, and want to finance the unit since I can’t come up with the cash. I already know that HVAC companies do financing, but will they do LONG term loans, such as 3 years? Will they do even longer terms like 5,6, or 7 years? What is the typical interest rate on these loans for someone with very good credit? (I estimate I will need anywhere between a $ 3000 to $ 7000 loan depending on how efficient I decide to go.)
long term cash loans
Best answer:
Answer by dollar bill
hi, why not, you may check with local contractor , as the govt will give a tax credit for energy saving eguipt, and check with your local bank for a low intres loan.
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#3 written by Keith 1 year ago
Yes, most HVAC contractors have credit options arranged through their national association. You will know if your application is approved within 1-2 minutes.
I don’t know if you have a dual pak or and in house unit, but their are federal tax credits available of 30% up to $ 1500 for buying higher efficiency units. If you plan on being in your house longer than 6 years, it makes a lot of sense to put in the higher SEER units.
Please get at least 3 quotes from licensed contractors and check out the contractors with your local BBB and with the State Contractors Licensing Board.
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#4 written by rottendog93 1 year ago
To get higher than 13 SEER you will also need to replace the furnace/air handler with a variable speed unit. $ 3000.00 would be the cheap stuff, avoid it as cheapest is never good. Check with the local BBB about contractors. Talk to your coworkers and neighbors to see who they use.
Most contractors work with finance companies. You could be looking at 14% or more on a long term loan.
Consider a second mortgage on your home for this rather than a long term loan.
Going from 10 to 13 SEER won’t save you what the interest will cost you on a loan. I doubt going to 16 SEER will either. -
#5 written by markandjess2003 1 year ago
Check out Kwik Comfort Financing. I think they are owned by GE Money but not sure. I have used this several times for my customers. Go to http://www.ruudac.com and look for contractors that offer this.
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i doubt it.most is a yr and horrible interest.possibly may find one for a little longer,but their interest will kill you.