Get in Touch Today to Learn More About Our Financing
Reach out to us for more information on financing options for your next HVAC system. Give us a call today: (970) 480-0324.
What is HVAC Financing?
HVAC financing allows you to manage the cost of installing or replacing heating and cooling systems by breaking it into manageable payments. This flexibility ensures you can afford essential upgrades without paying everything upfront.
Application Process for HVAC Financing
Applying for HVAC financing is straightforward, and we’re here to guide you every step of the way. First, you’ll go through a pre-qualification flow to see what you might qualify for. Many online lenders offer this step to give you an idea of the financing options available. You’ll need to provide documentation such as W-2s, bank statements, and complete a credit application to finalize your application.
After submission, the timeline for credit approval and funding time depends on the lender, but most applicants can expect a decision within days. We work with trusted partners to offer competitive loan rates and flexible loan terms that fit your needs. Taking time to pre-qualify helps you understand what’s available without impacting your credit.
We also partner with Efficiency Works to help you get rebates on your service if you qualify.
Cost of HVAC Systems
Understanding the costs involved in HVAC systems is key to determining your financing needs. For example, air conditioner replacement can range anywhere from $5,000 to $11,000, while a furnace replacement can range from $4,200 to $12,000, depending on the size and efficiency of the system. Additional costs like labor costs, ductwork replacement, and removal and disposal costs may add to this.
If you’re upgrading to a matched system or opting for premium features, expect higher upfront costs. You can learn more on our pricing info page.
Eligibility and Requirements
To qualify for HVAC financing, lenders typically consider factors like your credit score and overall creditworthiness. A good credit history improves your chances of approval, but there are options available for various financial situations.
You’ll need to verify your income through sources like W-2s, child support, social security payments, or disability benefits. Employment status or retirement income also plays a role.
HVAC Financing Factors to Consider
Choosing the right financing involves considering several important factors. Look closely at the interest rates, APR and fees, and the total loan amount. These will directly impact your monthly payments and overall affordability.
Budget management is crucial, so you’ll want to choose repayment terms that align with your financial situation. Some loans include a prepayment penalty, which is something to watch for if you’re planning to pay it off early. Colorado RENU Loans do not have a prepayment penalty and those offered through the Epic Loan Program can be paid off with your utility bill, which is convenient if you don’t want to have to keep up with an additional monthly payment.
Keep an eye out for exclusive promotional financing offers or custom options that may include discounts or incentives for energy-efficient systems.
Rebates and Tax Credits
Financing your HVAC system doesn’t just mean borrowing; it also means saving. Programs like the Efficiency Works Rebates or state or utility company rebates can lower costs significantly. Federal options such as heat pump tax credits, ductless system tax credits, and other federal tax credits provide additional incentives.
