10 Things to Consider When Financing HVAC Purchases

Home HVAC systems are essential for creating a comfortable living environment, and investing in a high-quality comfort system makes all the difference. However, the cost of these systems can be intimidating, and many people find themselves searching for affordable ways to finance their purchases.  

In this article, we’ll take a look at ten things you need to consider when financing HVAC purchases so that you can make the right decision for your needs. 

1. What is the Average cost of a New HVAC System? 

The cost of a new HVAC system can vary widely, depending on the size of your home, the type of system you need, and the brand you choose. On average, though, price tags range from $3,500 to $15,000, with the most common systems costing between $7,000 and $10,000. The cost of individual parts, such as a new furnace or air conditioner, can also vary widely. 

2. Can You Finance an HVAC System? 

Yes, you can finance an entire HVAC system. Many HVAC companies offer financing options to help homeowners purchase the systems they need. These options can include loans, financing programs, and subscription services. 

3. Do HVAC Companies Offer Financing? 

Many HVAC companies accept financing for their systems. Some of the most common options include financing through a bank or credit union, financing through the HVAC company itself, or financing through a third-party provider such as FinanceIt. Some HVAC companies even offer their own unique financing programs, such as ClimateCare’s Clarity program. 

Want to learn more about CLARITY by ClimateCare? Contact our team and we would be happy to walk you through the program!

Contact Us

4. What are the Best HVAC Loans and Financing Options in 2023?  

There are several HVAC financing options available in 2023, and the best one for you will depend on your needs and budget. Some popular options include loans from banks or credit unions, using a payment plan from an HVAC business, and applying for funds through third-party providers.  

Renting an HVAC system is also a popular option, as it allows you to have access to a high-quality system without having to pay the upfront cost. For those that want to own their equipment, there are also rent-to-own programs and subscription services that include regular maintenance in their monthly fees. 

5. How Do I Finance a New HVAC System? 

First, you should talk to your HVAC provider and ask if they offer any financing programs. If not, feel free to shop around your area for one that does. You may also contact a bank or third-party lender to apply for a loan.  

Each option has its own set of benefits and drawbacks, so it’s important you do your research and compare your options before making a decision. 

6. Can I Finance an HVAC System Without a Good Credit Score? 

Yes, you can finance an HVAC system without a good credit score, but it may be more challenging. Some HVAC companies offer financing options for those with less-than-perfect credit, but these options may have higher interest rates or more stringent repayment terms.  

You can also consider a rental service or subscription package, which may not require a credit check at all.  

7. Are There Any Tax Credits or Rebates Available for Financing an HVAC System? 

There are various tax credits and rebates available for new HVAC systems, regardless of how they are financed. For example, the federal government offers grants of up to $5,000 for upgrading your HVAC systems to one that meets current energy efficiency standards. 

Additionally, many provincial and local governments offer rebates and incentives for energy-efficient HVAC systems. Make sure to check with your local government or utility company to find out if there are any available tax credits or rebates in your area. 

8. Is an HVAC System a Good Investment?  

An HVAC system can be an excellent investment for homeowners looking to boost their home’s value and reduce energy costs. Some new HVAC systems can reduce energy costs by up to 30% and may also provide improved comfort features.  

Your true return on investment will depend on several factors, including the cost of the system, the type of system you purchase, and the energy efficiency of the system. It’s important to consider the total cost of ownership when making your decision, as well as the potential for energy savings and increased home value. 

9. What Is an HVAC Subscription Program? 

An HVAC subscription program is a monthly payment plan that provides homeowners with access to an HVAC system, along with maintenance, repair, and replacement services. This type of financing option is becoming increasingly popular as it allows homeowners to avoid the high upfront cost of purchasing a new HVAC system while providing peace of mind when it comes to repairs. 

D&B ClimateCare’s Clarity program is an example of an HVAC subscription program, offering homeowners an all-inclusive home comfort solution with low monthly rates and the ability to own their system from day one. 

10. What is Clarity By ClimateCare, and How Do I Sign Up?  

Clarity by ClimateCare is a monthly subscription program designed to make it easier and more affordable for homeowners to purchase and maintain a new HVAC system. This program provides a low-cost monthly payment option and includes regular maintenance, repairs, and replacement services. If you’re interested in learning more about Clarity and how you can sign up, contact your local ClimateCare directly to learn more. 

The Bottom Line 

In summary, financing a new HVAC system can be a smart investment for homeowners looking to improve their indoor comfort and reduce energy costs. With a wide range of options available, there’s certainly a solution for every budget.  

If you’re in the Simcoe, Port Dover or Tillsonburg areas, contact D&B ClimateCare today to learn more about our subscription options. We will be happy to provide the appliances you need at a low, all-inclusive monthly rate.  

Sign up to receive helpful home comfort tips and reminders

  • This field is for validation purposes and should be left unchanged.
climatecare logo
energystar logo
hrai logo
tssa logo
wsib logo