HVAC Financing

Buying an AC on installment typically involves a financing process. Here are some general steps you may follow:

1. Determine Your Needs: Evaluate your space and understand what type of AC unit you need. You might need help from us, an HVAC professional, for this. Consider factors like the size of your space, the type of building, and your cooling needs.

2. Find a Suitable Dealer or HVAC Company: Look for reputable dealers or HVAC companies that offer the type of AC unit you need. Contact us today! (813) 343-2212

3. Explore Financing Options: We will perform a short questionnaire to determine the best option for your needs and credit worthiness. 

4. Apply for Financing: Once you’ve chosen a financing option that suits your budget, you’ll need to apply. This will usually involve filling out a form with details about your income, employment, and possibly your credit history.

5. Credit Check: The lender will usually perform a credit check to determine your creditworthiness. This will help them decide whether to approve your application and what interest rate to offer you.

6. Approval and Agreement: If your application is approved, you’ll need to review and sign a financing agreement. This agreement will detail the terms of your financing, including your monthly payment amount, the interest rate, and the total cost.

7. Purchase and Installation: Once the financing is in place, you can proceed with the purchase. We will then schedule an installation date.

Remember, it’s important to make sure you understand all the terms and conditions of the financing agreement before you sign. If you have any questions or concerns, don’t hesitate to ask the lender or the dealer for clarification.

The specific credit score needed to finance an HVAC system can vary widely depending on the lending institution and the specifics of the financing program. However, as a general guideline:

1. Excellent Credit (750 and above): With this score, you should have no trouble obtaining financing, often at the lowest available interest rates. 

2. Good Credit (700 – 749): Still very likely to obtain financing with competitive interest rates.

3. Fair Credit (650 – 699): Financing is possible, but interest rates may be slightly higher.

4. Poor Credit (600 – 649): Some lenders may approve financing, but expect higher interest rates. Microf is the best option for this credit range and below, click here to apply.

5. Bad Credit (below 600): It can be challenging to obtain financing, and if approved, interest rates will likely be high. Microf is the best option for this credit range and below, click here to apply.

Remember that while credit score is important, other factors like income level and debt-to-income ratio also play a significant role in lending decisions. It’s best to check with the specific lender or financing program for exact requirements.

Contact us to today to find the best option for you! (813)343-2212

The cost of a new HVAC system can vary greatly depending on several factors:

1. System Size and Capacity: Larger and more powerful systems will generally cost more. For example, a system meant to cool or heat a larger home will generally be more expensive than a system designed for a small apartment.

2. Brand: Higher-end brands typically come with higher price tags, often due to features like improved energy efficiency, quieter operation, and extended warranties.

3. Type of System: There are several types of HVAC systems, including central air conditioning, ductless mini-splits, heat pumps, and furnaces. Each of these comes with its own typical price range.

4. Installation Costs: These can vary depending on the complexity of the install. For instance, a system that requires extensive ductwork will be more expensive to install than a ductless system.

5. Regional Factors: Installation costs can also vary by region due to factors such as local cost of living and how common air conditioning is in the area.

With these factors in mind, a new HVAC system’s cost, including installation, can range from around $5,000 to over $10,000 on average. However, higher-end systems or complex installations could result in costs exceeding this range.

Leasing an HVAC system can be a viable option for some individuals and businesses, but whether it’s worth it depends on your specific needs, financial situation, and long-term plans. Here are a few pros and cons to consider:

Pros of Leasing an HVAC System:

1. Lower Upfront Costs: Leasing allows you to use an HVAC system without the high initial costs of purchasing and installing a new unit.

2. Maintenance and Repairs: Depending on your lease agreement, the leasing company may cover maintenance and repairs, reducing your ongoing costs and responsibilities.

3. Up-to-Date Equipment: Lease agreements often make it easier to upgrade to newer models, ensuring you always have access to the most efficient and feature-rich systems.

Cons of Leasing an HVAC System:

1. Ownership: When you lease an HVAC system, you don’t own the equipment. This means you’re essentially paying for use without gaining an asset in return.

2. Long-Term Costs: While monthly lease payments might seem affordable, the total cost of leasing over several years can sometimes exceed the cost of purchasing a system outright.

3. Contractual Obligations: Leasing contracts can be hard to break without incurring penalties. If you move or want to upgrade your system, you may face additional costs.

To decide if leasing an HVAC system is worth it, consider the total costs over the contract period, the terms of the lease agreement, your budget, and your future plans. If your budget can accommodate it and you’re planning to stay in your property for a long time, buying might be a better option. On the other hand, if you want to spread out costs, need flexibility, or don’t want to worry about maintenance and repairs, leasing could be the right choice.

Remember to carefully read and understand any lease agreement before you sign. If you’re unsure, it may be a good idea to consult with a financial advisor or an attorney.

Financing an HVAC system offers several significant benefits that can make it an attractive option for many homeowners and businesses. Here are some key advantages:

1. Affordability: High-quality HVAC systems can be a significant investment. Financing allows you to spread the cost over a set period, making it more manageable and affordable, particularly if you’re on a tight budget or need to replace your system unexpectedly.

2. Flexibility: With a variety of loan terms and rates available, you can choose the financing option that best fits your financial situation. You can select a repayment plan that aligns with your budget.

3. Immediate Comfort: Rather than saving up for a new HVAC system while enduring a failing or inefficient one, financing allows you to immediately install or repair your HVAC system. This ensures that you can maintain a comfortable, healthy living environment without delay.

4. Better Equipment: Financing gives you the opportunity to invest in a higher-quality, more efficient HVAC system than you might be able to afford outright. More efficient systems can save you money in the long run through lower energy bills.

5. Preservation of Savings: Instead of using your savings or emergency funds, financing lets you keep those resources intact for other needs or unexpected expenses.

6. Increased Property Value: If you’re a property owner, upgrading your HVAC system can increase your property value. If you’re planning to sell or rent out your property in the future, a new, efficient HVAC system can be a strong selling point.

Remember, while financing can provide several advantages, it’s also essential to consider the interest and fees associated with the loan. Always read and understand your financing agreement before signing.

In most cases, yes, financing typically involves a hard credit check. When a lender or financing company reviews your creditworthiness for a loan or credit decision, they usually perform a hard credit inquiry, also known as a hard pull. This type of credit check can slightly lower your credit score for a short period of time and will show up on your credit report.

A hard credit check gives the lender a full view of your credit history, allowing them to assess the risk of lending to you. It’s a common part of the process when applying for credit cards, mortgages, auto loans, and yes, HVAC financing.

However, some lenders may first do a soft pull or soft inquiry to give you an estimate or pre-approval. Soft inquiries do not impact your credit score and are not visible to other lenders on your credit report. But remember, a final approval usually still requires a hard pull.

It’s always a good idea to ask us what type of credit check they will perform and how it might impact your credit score. Understanding the process can help you make informed decisions about your credit.

For most types of financing, a credit score of 720 or higher is generally considered “excellent” and will usually qualify you for the best interest rates and terms. If your credit score is in this range, lenders see you as a low-risk borrower, which means you’re more likely to receive favorable financing offers.

However, the specific credit score requirements can vary significantly depending on the lender and the type of financing. Some lenders might offer their best rates to borrowers with a credit score of 740 or higher, while others may have slightly lower requirements.

It’s also important to note that while your credit score is a significant factor in determining your eligibility for the best financing rates, it’s not the only factor. Lenders also consider your income, employment history, debt-to-income ratio, and other financial details when deciding what rates and terms to offer you.

Remember that even if your credit score isn’t in the “excellent” range, you might still qualify for financing. Many lenders offer financing options to borrowers with “fair” or “good” credit, although the rates and terms may not be as favorable. Always check with the specific lender or financing program for their requirements.

At The AC Therapist, we’re committed to making HVAC services accessible to all our customers. We understand that credit checks can be a hurdle for some, which is why we’re thrilled to offer no credit check HVAC financing options, thanks to our partnerships with Wisetack and GoodLeap. These partnerships allow us to provide flexible financing solutions tailored to a wide variety of financial situations. We believe in creating a comfortable environment for everyone, regardless of their credit history. 

Contact us today to learn more about our hassle-free financing options and find a plan that suits your needs.

Yes, you can finance small repairs on your HVAC system. We offer financing options for repairs in addition to system replacements or installations. This can be particularly helpful if you are faced with an unexpected repair bill that you can’t cover out of pocket.

The process for financing repairs typically involves the following steps:

1. Get an Estimate: We will assess your system and provide an estimate for the needed repairs.

2. Apply for Financing: If the repair cost is more than you can comfortably pay at once we can help finance this repairs with no credit check HVAC financing thanks to our friends at Wisetack. 

3. Approval and Agreement: Just like with larger loans, you’ll need to apply and get approved for the financing. This will usually involve a credit check and you’ll need to sign a financing agreement that details the terms of the loan.

4. Complete the Repair: Once your financing is approved, we can complete the repairs. You’ll then start making payments according to your financing agreement.

Remember, it’s crucial to thoroughly understand the terms of your financing agreement, including the interest rate, payment schedule, and any potential fees or penalties. If the interest rate or fees are high, you might end up paying significantly more than the initial repair cost. Always compare options and choose the best solution for your financial situation.