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Financing Your Furnace Installation

Financing options can make furnace installation possible
October 25, 2016

Furnace installation should be taken into serious consideration this fall if you currently do not have a reliable heating system in your home. However, finding the right financing for it may prove difficult. With the average cost of a furnace ranging around $3,940, you may struggle to have heat in your home simply because your savings doesn’t cover the expenses. Making the situation more stressful is the fact that you cannot simply go without heat this fall and winter. Those outdoor temperatures will be dipping soon and if you do not have a furnace to protect you from the cold, the next few months may be some of your most uncomfortable to date. Stocking up on blankets and sweatshirts can only do so much to keep you warm. There is, fortunately, a way to get high-quality heating in your home without it making a huge dent in your savings. There are several different financing programs and payment options available today, so homeowners across the area can stay warm and comfortable this season. And all you need to do is call your local heating company for service right before the weather takes a turn for the frigid.

Why You Should Call LimRic for Top-Notch Service

If you are indeed planning to make a call to a local heating company, you should make LimRic your first choice for excellent service. Our heating contractors are fully-trained and licensed in guaranteeing your long-term happiness. With colder weather on its way, it’s our goal to make sure all homeowners are equipped with a furnace that will keep the whole family happy. We house the most modern heating systems available from top brands like American Standard and Rheem. In addition to the top brands, we also offer upfront payment options, one-year warranties, service agreements, and quality workmanship guarantees. Since we do not want a home in the North Charleston area go without heat this season, we have 22 fully stocked trucks available and ready for service. With our help, you will have a furnace that will both deliver heat and ensure you are not spending too much money. Highly-efficient, effective heating begins with us.

What Can You Expect from Financing Programs?

If you’re new to financing programs, especially for financing a furnace, it may get a little overwhelming at first when you are presented with so many different options. Here are some features you can expect from these programs in general:

  • Low Monthly Payments: This option is certainly worth considering if you are looking to save more money. However, please be aware that this will result in higher interest rates. For any payment offered by a financing program, you need to remember the more money you finance, the greater interest you will pay.
  • Zero Down Payments: Zero down payments have the same consequences as low monthly payment, only with even higher interest rates this time.
  • No Annual Fees: The idea of no annual fees may sound nice in theory, but may not be worth the continued search for a lower interest rate. Annual fees will hover around $200, allowing those interest rates to really build up in cost.
  • No Prepayment Penalties: Unlike the promise of “no annual fees” this feature will prove beneficial, allowing you to pay off a loan early and avoid high interest rates.
  • Competitive Interest Rates: Interest rates are, above anything else, one of the most important factors to consider when considering your financing options. Unfortunately, lower credit scores typically lead to higher interest rates. However, if you have a higher credit score, you may be able to negotiate a better interest rate on your service.
  • Deferred Payments: The option of deferred payments allows you to not pay back a loan for up  to 90 days, or a year. Just a note of caution: be careful of manufacturers pushing deferred payments to their own benefit, as this may have a negative impact on you. 

How Can You Pay for a Furnace Installation?

If you are wondering just how you can pay for home heating systems, here are a few payment options available:

  • Dealer and Manufacturer Rebates and Financing: Rebates will require you to pay for a system upfront. But they do have long-term benefits, especially when you receive a check in the mail several weeks later.
  • Government Programs: If you plan to install a highly-efficient heating system, several state and federal government programs may provide special financing, rebates or other options for homeowners who are unable to pay for a furnace.
  • Bank Loans and Credit Cards: Do you have sufficient home credit? Then you may qualify for bank loans and credit cards. Credit cards will be a viable payment option if you have a sufficient enough balance in your bank account. 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. The bank can seize the asset if you default on the loan.
  • Online Crowd Funding: Look into crowd funding sites like GoFundMe, which will allow to call for any donations to fund your furnace installation. These sites also give you the option of helping strangers in need, with heating systems or something else entirely.
  • Barter Sites: Barter sites like TradeAway and BarterOnly will supply the furnace you need in exchange for services or assets. Please, however, get any agreement in writing when dealing with strangers on the Internet.

Don’t Get Caught In The Cold This Fall – Schedule Your Furnace Installation Today

Contact LimRic today if you want to stay warm this fall and winter with well-financed furnace installation!

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