4 Financing Options for a New Air Conditioner or Heater

Air conditioners and heaters along the Texas Gulf Coast work hard all year round. The cool weather doesn’t last long with few freezing temperatures and almost zero snow. But, the summers more than make up for that. Summers in Houston, Texas are guaranteed to be hot, humid and start in May and not let up until October.

Air conditioners of every make and model are built better every day but after about 10-15 years, it’s time to start thinking about replacing them. If you have an older model air conditioner running with R-22 or freon, a type of refrigerant which was discontinued January 2020, it may make perfect sense to install something new.

New energy efficiency regulations mean that whatever you install will operate more efficiently and save on your electricity bill.  But this technology comes with a price. This is why having financing options can make the difference so homeowners can choose which one works for their situation.

Financing through Synchrony Bank

As a Ruud Pro Partner™, Terry’s A/C and Heating is able to offer financing for air conditioning and heating equipment through Synchrony Bank. The credit card is issued with approved credit and gives a variety of financing options. The card offers a revolving line of credit to use over and over, special financing rates, low monthly payments, and access to online account and bill payment options. There is no prepayment penalty and no annual fee associated with the card. It’s easy to apply online and receive a decision quickly. Click here to learn more.

Synchrony Bank is one of the premier consumer financial services companies in the United States with over 80 years of retail heritage, and today is the largest provider of private label credit cards in the United States based on purchase volume and receivables.

Personal Loans with Hearth

Hearth presents online financing options that give homeowners flexibility to purchase a new air conditioner/heater or heat pump system on the terms they select. Hearth works with various lending partners to show customers available financing options with a personal loan. All loans are subject to credit approval.

Best of all, customers can receive the funding upfront and pay it back in monthly payments over a set period of time. This gives them the flexibility to have the funds needed to get the central air conditioning system, heat pump, heater or furnace they need to keep their home comfortable. There are no prepayment penalties, and they can check eligibility to prequalify, see financing options and pick their favorite option without an effect on their credit score. Those who apply don’t have to put up home equity as collateral in order to receive the funds.

Lease-to-Own Options with Microf

Microf was established in 2010 to offer more financing and lease-to-own options for customers who needed a flexible way to purchase a residential heating and cooling system. This company specializes in financing for HVAC equipment and offers a variety of options with a low monthly payment to make it easy to apply to receive the HVAC equipment you need now. Customers who are unable to qualify through traditional financing can often find the financing they need with a rent-to-own solution. Click here to learn more.

A Home Equity Loan Through Your Bank

You might also apply for a home equity loan through your bank or credit union to pay for a new residential air conditioning and heating system or other home improvement project. This is a type of second mortgage using as collateral the equity you’ve built up in your home minus the amount of any outstanding mortgages on your property. On the plus side, this type of loan can generally offer a favorable rate of interest and you may be able to claim a tax deduction for the interest you pay if you use the loan to “substantially improve your home,” says the Internal Revenue Service (IRS). The downsides are that the bank could foreclose on your home if payments are not made, the loan must be repaid before selling your home, and there are closing costs on this type of loan.

Let Us Help

A Ruud Pro Partner™, Terry’s A/C & Heating has been helping customers keep their homes and businesses comfortable with smart service and reliable air conditioning and heating equipment to fit nearly every circumstance and budget. From high-end, multi-speed high efficiency heat pumps to the latest central air and heating systems, call Rob and Kenny at (281) 495-7830 for their best advice and to receive a quote for a new HVAC system. Find out how our family-owned business got started and see what customers have to say about our service. We welcome the opportunity to earn your business in the West Houston, Richmond, Fulshear, Katy, Sugar Land and surrounding area.