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How to finance an HVAC ?

How to finance an HVAC ? -

Brian Schaeffer |

How Much HVAC System Replacement Cost ?

Overview of HVAC Pricing

The cost for replacing an HVAC system averages at approximately $7,500, based on data from, a notable platform for HVAC equipment sales. The price range typically extends from $5,000 to a maximum of $12,500.

What credit score do you need to finance an HVAC system?

The exact credit score you need to finance an HVAC system varies from lender to lender. In general, you should expect to find the best rates with a credit score above the mid-600s. 

Is leasing an HVAC system worth it ?

Leasing an HVAC system means you won't own the equipment, which can become a problem if you want to sell the home. In general, it's better to buy the asset. But if you can't find a financing opportunity that works for your situation, then leasing an HVAC might be a worthwhile option. 

Financing vs. Immediate Payment

Having immediate access to funds, such as through an emergency savings account, might eliminate the need for financing. On the other hand, without available cash, financing offers a practical solution to ensure prompt installation.

There are several ways to finance an HVAC system, each with its own advantages and disadvantages depending on your financial situation and creditworthiness. Here are some options to consider

  • Multiple Financing Options Available for HVAC System Installation
  • Diverse Financing Paths: Personal Loans, Home Equity, HELOCs, and Credit Cards
  • Choosing the Best HVAC Financing Option Depends on Your Equity, Needs, and Finances


  • Personal loan: This is a general-purpose loan that can be used for anything, including an HVAC system. Interest rates will vary depending on your credit score, but they can be higher than other options.
  • Home improvement loan: Some lenders offer loans specifically for home improvements, including HVAC systems. These loans may have lower interest rates and longer repayment terms than personal loans.
  • Manufacturer or dealer financing: Many HVAC manufacturers and authorized dealers offer financing options through third-party lenders. These programs may come with promotional rates or extended repayment terms.
  • HELOC (Home Equity Line of Credit): If you have substantial equity in your home, you could consider a HELOC. This allows you to borrow against your home's value at a variable interest rate. However, this is a riskier option, as you could lose your home if you default on the loan.

Other options:

  • Credit card: If you have a credit card with a high credit limit and a 0% introductory APR offer, you could use it to finance your HVAC system. However, be sure to pay off the balance before the introductory period ends to avoid high interest charges.
  • Government assistance: Depending on your income and location, you may be eligible for government assistance programs that can help with the cost of an HVAC system. For example, the Low Income Home Energy Assistance Program (LIHEAP) can provide financial assistance for energy-related home repairs and improvements.
  • Rebates and tax credits: You may be able to get rebates or tax credits from your state or local government for installing a new, energy-efficient HVAC system.
  • Contractor Provided Financing options - Financing your dream HVAC system with Affirm or GreenSky: A qualified payment breakdown , Upgrading your home's HVAC system is a significant investment, but it doesn't have to break the bank. Qualified payment options through Affirm and GreenSky can make your new system more affordable and accessible.
Let's delve into the details of each program:
  • Affirm:

      • What it is: A buy-now-pay-later service that allows you to split your HVAC system purchase into manageable monthly payments over a set period (usually 3, 6, or 12 months).
      • Eligibility: Open to U.S. residents with a valid SSN and good credit history. A soft credit check is performed during the application process, which won't impact your credit score.
      • Pros:
          • Transparent: You'll know the total amount you'll pay upfront, including any interest charges. No hidden fees!
          • Fast and convenient: Apply online in minutes and get a decision instantly.
          • Flexible: Choose the payment term that best suits your budget.
          • Promotional offers: Sometimes, Affirm offers 0% APR financing for select purchases.
      • Cons:
          • Interest rates: While competitive, they can be higher than traditional loans for those with excellent credit.
          • Late fees: Applicable for missed payments.
          • Not all contractors accept Affirm: Be sure your chosen HVAC contractor partners with Affirm.


      • What it is: A lending platform specializing in home improvement loans, offering various fixed-rate financing options for HVAC systems.
      • Eligibility: Similar to Affirm, requires U.S. residency, valid SSN, and good credit history. A hard credit check is typically required, potentially impacting your credit score.
      • Pros:
          • Fixed rates: Predictable monthly payments throughout the loan term.
          • Longer terms: Options for extended repayment periods compared to Affirm.
          • Wide network: Accepted by many HVAC contractors nationwide.
          • Potential tax benefits: Interest paid on home improvement loans may be tax-deductible (consult a tax professional for details).
      • Cons:
          • Stricter eligibility: Requires higher credit score compared to Affirm.
          • Potentially higher interest rates: Rates can vary depending on your creditworthiness.
          • Origination fees: Some loans may come with upfront fees.

    Choosing the right option:

    The best choice for you depends on your individual financial situation and preferences. Consider these factors:

      • Credit score: If you have excellent credit, GreenSky might offer lower interest rates.
      • Budget: If you prefer smaller monthly payments, even with slightly higher interest, Affirm might be suitable.
      • Loan term: Do you need more time to repay? GreenSky offers longer terms than Affirm.
      • Convenience: Consider the ease of application and approval process for each platform.

    Remember, carefully compare interest rates, loan terms, and any fees associated with each option before making a decision.

    Additional tips:

Before making a decision, it's important to:

  • Get quotes from multiple HVAC contractors.
  • Compare the different financing options available to you.
  • Consider your budget and creditworthiness.
  • Read the fine print of any loan agreement carefully.

By carefully evaluating your options and considering your financial situation, you can find the most suitable qualified payment solution to finance your new HVAC system and enjoy the comfort of a climate-controlled home without breaking the bank.