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A Financing Guide to Furnace Installation

Money Saved For Furnace Installation

Furnace installation should be atop your to-do list this fall if you want to ensure your home has a steady flow of heat during the season’s coldest days. However, that goes without saying furnace installation can expensive, and you may not have the savings to cover it. But of course, enduring the fall and winter without a reliable heating system is not an option. When it comes to ensuring your family’s happiness this season, stocking on extra blankets and sweatshirts can only do so much. Even something like your fireplace won’t be able to heat your entire home. Finding the savings for a new furnace may be tough, but it’s not impossible. There are several options available for you to ensure you get the most modern, highly-efficient system in your home.

Fortunately, there are financing programs out there that look out for your best interests, and all you need to do is search. Depending on your personal situation, you’ll be able to pick and choose among a variety of financing options. For a long time, it may have seemed like having a highly-efficient furnace in your home was just the product of fantasy. But by choosing the right furnace program, it can become a reality.

Calling Approved Comfort for High-Quality Service

Approved Comfort should be your number-one choice for emergency heating services this fall. We want to see homeowners across the area with comforting heat, which is why we have a wide range of heating options available for your home. We have the latest furnace models available for you to install so you are receiving longer-lasting heat that will save you so much money on energy bills. Our installation service moves quickly so you are not spending a single cold day this season without any heat. We are also available to take any questions on heating systems and financing options. Our heating experts understand finding the right system at the right time can be hard, so they will always be willing to help you this fall.

4 Common Features of Financing Programs

There are so many available financing programs out there that it may get a little tough to decide on what one would be right for you. To make your choice a little easier, here are some common features of the financial programs you will encounter:

  • Competitive Interest Rates: You should always consider interest rates first before locking into a plan. If you have low credit, you may be unable to get low-interest financing. A good credit score, however, may qualify you to negotiate interest rates.
  • No Prepayment Penalties: Any finance program ensuring no prepayment penalties may prove ultimately beneficial.  It allows you to pay off your furnace loan early and avoid paying possibly hundreds of dollars in interest charges. For any loan you seek, make this a must-have. 
  • Low Monthly Payments: Though lower monthly payments may sound like an enticing option, it will also come at the risk of higher interest rates. However, if you are looking to save more money, it is certainly worth considering. 
  • Zero Down Payments: Similar to low monthly payments, zero down payments also come at a cost, with an even higher interest rate. Remember this important rule for furnace financing: the more money you finance, the more interest you will pay. This will result in higher long-term costs

How Can You Pay for a Furnace Installation?

Again, furnace installation can be expensive, but fortunately there are several ways you can pay, including:

  • Dealer and Manufacturer Rebates: Though rebates from your dealer and manufacturer will force you to pay an upfront cost for installation, it does have its long-term benefits, especially if you are able to borrow the money for the upfront costs elsewhere. Plus, once it’s all set and done, it will be nice to get that check in the mail six weeks later.
  • Government Programs: If you are having a hard time paying for heat in your home, there are several state and federal financing programs for essential purchases such as a furnace system. If you install a highly-efficient heating system, these programs may provide special financing, rebates or other offers. Feel free to ask your local heating company for more information on the programs available for you.
  • Bank Loans and Credit Cards: Homeowners with sufficient credit or home equity may have the payment option of bank loans. You may be given the option of a collateral loan, where you will have to relinquish a title in a real asset in exchange for a loan. If you default on the loan, the bank can seize the asset. Credit cards are another option if you have enough balance in your account.
  • Online Crowd Funding: GoFundMe is a popular crowd funding site that will allow you to make a call for any donations on whatever you are seeking. In this case, you can receive funding for your next furnace installation.  In return, you can also help out other users who either are looking to fund a heating system installation or something else entirely.
  • Barter Sites: Barter sites can provide you with a new furnace in exchange for goods or services. Some of the most popular barter sites are TradeAway and BarterOnly. Just remember to get any agreement in writing, especially with any users on the site you don’t fully trust yet.

Don’t Let Financing Stand Between You And The Comfort You Deserve

Contact Approved Comfort today if you want to avoid paying high costs this season thanks to our furnace installation!