A new heating and cooling system represent a significant investment in comfort, health, and energy efficiency. Modern HVAC equipment is engineered to provide quiet and dependable performance through many years of trouble-free operation.
The weather in the Northeast is unpredictable, and a reliable central cooling and heating system is a necessity, especially for the elderly and young children. Severe weather places additional stress on HVAC system components, which often causes worn parts to fail completely. At JAMCO Heating & Air Conditioning, we recognize that many families do not have the available cash required to make a major purchase, particularly if the expenditure is unanticipated. That’s why we have developed partnerships with several quality lenders to help our customers acquire a new energy-efficient HVAC system. The financing plans we offer are tailored to fit each situation, and the cash can be used for equipment repairs, purchases, and maintenance.
The Benefits of HVAC Equipment Financing
Large home improvement projects can place a homeowner’s cash flow under extreme stress, especially since most people have not budgeted for an HVAC replacement.
Financing options help bridge the gap between equipment costs and available cash, which makes the purchase process less traumatic and nerve-racking. The customer service aspect of financing also helps enhance the level of trust between the customer and the HVAC contractor, especially if the dealer is honest, knowledgeable and experienced.
Perhaps most importantly, the energy savings that result from replacing old, obsolete equipment can pay for a substantial portion of the cost of financing. In fact, replacing a 10 SEER air conditioning unit installed in the mid 2000s with an 18 SEER model can save up to 48 percent in annual cooling utility costs.
By financing the installation and purchase of your new residential HVAC system, you will stay comfortable while enjoying the following benefits:
- Fast and simple application process
- Expedited credit decisions
- No prepayment penalties or annual fees
- Monthly online statements
- Low minimum monthly payments
- Periodic promotional opportunities
- Multiple payment options including online, regular mail and direct withdrawal
- No liens are recorded
- Current credit lines remain available
- No points, fees or closing costs
- No requirement for a home equity
- Fixed rates and monthly payments
Since we only work with nationally recognized lenders, you can rest assured your privacy is completely protected by the most sophisticated security measures and encryption technology in the industry. Every application is evaluated rapidly, and most credit decisions are issued within one business day.
How to Obtain Financing
Most consumers can qualify for some level of financing for new HVAC equipment. To secure a favorable interest rate and receive multiple offers, it is important to gather supporting documentation that includes the following elements:
- Credit Reports: Your credit score will play a major role in the lender’s decision to extend financing. The amount of funding and the accompanying interest rate are tied directly to your credit score. All of your existing loans should be up to date, and it is advisable to pay down credit cards and other revolving debts. Check your credit report and immediately challenge any inaccurate entries.
- Pay Stubs: Organize your last three months of pay stubs to provide income verification. Self-employed people will need to supply proof of income through deposit receipts or tax returns. Anyone else listed on the loan will also need to show proof of income.
- Letters of Reference: For those with poor or minimal credit, letters of reference can help establish a pattern of reliability. References from utility companies and employers can be beneficial in demonstrating consistency and financial responsibility.
- Price Quotes: One of Griffith’s friendly comfort specialists can help design a new central HVAC system that will precisely match the indoor load of your home or office. Once the cost of the system has been established, you can select the appropriate financing package.
Repair or Replace Your System?
Since air conditioners and furnaces contain a variety of moving parts, they will eventually need to be replaced no matter how well the system has been maintained. For equipment that is 10 years and older, frequent breakdowns can be extremely costly and potentially lead to safety and health issues.
AC compressors are very expensive to replace, and the efficiency of the unit can be permanently compromised. Outdated standing-pilot furnaces may develop small cracks in the heat exchanger, which can result in carbon monoxide leaking directly into the living area. Any furnace with a cracked heat exchanger should be replaced immediately.
Modern air conditioners must meet a minimum federal standard of 13 SEER. The Seasonal Energy Efficiency Ratio was implemented by the Department of Energy to offer consumers a simple way to compare the relative efficiency of different brands and models of equipment. Replacing an aging condensing unit with a high-SEER rated model will improve comfort and provide a relatively short payback period.
Many older furnaces operate at 60 percent efficiency or less. This means 40 percent of the fuel used in the burn process is wasted and exhausted through the venting system. A modern furnace replacement will help keep your home warm and cozy in the winter and lower your monthly heating utility bills as well.
Financing Options for Every Budget
JAMCO Heating & Air Conditioning provides complete HVAC replacement options for air conditioners, furnaces, heat pumps, and package units. Our flexible financing packages are designed to make equipment ownership a simple and budget friendly process.