Posted: 1 Dec '20

What You Need to Know About Financing Your Furnace Replacement or HVAC System Addition

What You Need to Know About Financing Your Furnace Replacement or HVAC System Addition

Purchasing a new furnace or adding to your existing HVAC system is a worthwhile investment in your St. Albert home and your family’s comfort. It is an investment that begins giving you a return as soon as you begin using your new equipment. However, not everyone has a few thousand dollars in savings set aside for a furnace replacement or system upgrade. If you are in this situation, and need a new furnace soon, here is what you need to know about your financing options. Call us for more information.  

Home Equity Loan 

If you do not have the cash available to pay for a furnace replacement, obtaining a home equity loan from your bank is an option. You will need to have enough equity built up in your home and meet your bank’s credit requirements for such a loan. Your loan payments will usually begin within a month of closing on your loan and will include interest from day one. 

Paying by Credit Card 

Another option is financing your furnace replacement with your credit card. The downside to this is that you are likely to pay higher interest that will add to the cost of your furnace installation or HVAC system addition. The interest on a large purchase will continue to add up until you pay off your credit card. You also may tie up your credit line for an extended period. 

Flexible Financeit Loan 

A-1 Heating has partnered with Financeit to provide our customers with a less stressful and flexible option for financing a furnace replacement or HVAC upgrade. With Financeit, you can simply apply online from any internet-connected device for financing up to $100,000. In seconds, you will find out if you qualify and there is no obligation or commitment if you decide to not to do the loan. 

The advantages of paying for your new furnace or HVAC upgrade with a Financeit loan include: 

  • Fair and flexible terms that allow you to pay off your loan at any time without an early payoff penalty. 
  • Low interest loans. 
  • No payments and no interest for 9 months 
  • Affordable monthly payments begin after 9 months.
  • Payments are automatically debited from your bank account.
  • Bank-level encryption to protect your personal information.
  • No hidden or additional charges.
  • Fixed loan administration fee of 1.5% of purchases up to $9,999 and $149 for purchases between $10,000 - $100,000.
  • No backdated interest once your payments begin. 

We Can Help Take the Stress Out of Replacing Your Furnace!

If it is time for a furnace replacement for your St. Albert home, there is no reason to put it off any longer. We can help take the stress out of the process with our financing options from Financeit that can help make your purchase more affordable. And don’t forget, once you have your new furnace installed, you will start saving money on your home’s heating costs right away. We will also advise you of any manufacturer, government, or utility rebates that may be available. All you need to do is contact us to schedule your free consultation to get started. 

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