How to Finance an HVAC System

Whether you are building a brand new home or your HVAC system is about to bite the dust, you may be wondering about your HVAC financing options. What does financing an HVAC system look like for the average homeowner?

How to Finance Your HVAC System

HVAC financing options vary from company to company. However, the general process looks something like this.

1. Application

First, you have to apply for one or more of the various financing options provided by your HVAC company. At Indoor Air Quality Inc., you can apply for our financing options at any time of day or night by simply answering a few questions.

2. Approval

After you enter your information and finish your application, your HVAC company will provide you with the options for which you qualify. Most HVAC companies offer several different payment methods.

3. Deciding Between Options

The primary differences between payment options include your monthly cost, what HVAC brand you intend to use, and how much credit you would like applied to your purchase. Additionally, different financing options cover different degrees of professional maintenance and warranties. At IAQ, if you aren’t sure which financing option is right for you, our team will help you look at each factor and make the best decision.

4. Service Agreement

Your service agreement merely states who is responsible for what in regards to your HVAC system. For instance, how often will your company send a professional to inspect your system? Who is responsible for repairs if your system breaks down? Do you have to pay extra for extra services, or is everything covered under your HVAC financing?

What About Warranties?

Warranties play an important role in HVAC financing. How do you know what’s covered by your monthly payments, and can you count on your HVAC company to come to the rescue in an emergency? Make sure you discuss the following types of HVAC warranty with your service provider to ensure that you get what is best for you.

1. Labor Warranty

A labor warranty covers the cost of repair labor. In other words, if your HVAC system breaks down and you need professional service, your HVAC company will repair the problem free of charge. Labor warranties do not include equipment cost, so if the repair requires a new part of a full-on replacement, you will be responsible for purchasing the equipment.

2. Equipment Warranty

An equipment warranty is the same as a labor warranty but in reverse. Equipment warranties are most common when HVAC companies provide their own equipment or link up with a specific brand. If a part malfunctions through no fault of the homeowner, the cost of the replacement is absorbed by the manufacturer. Depending on the situation, you may have to pay an additional labor fee. However, if the part malfunctioned due to installation error, labor is probably covered as well.

3. Combination Warranty

A combined warranty covers both labor and parts, so if your system breaks down, you don’t have to worry about fronting any of the costs. Simply make a call to your contractor, sit back, and enjoy.

Call Us Today for HVAC Financing Options!

Indoor Air Quality Inc. offers several financing options perfect for homeowners. We want to do what is best for you! If you have any further questions about HVAC financing, service agreements, or warranties, contact Indoor Air Quality today. We serve homeowners in Highlands Ranch and throughout the Denver Metro Area. Our highest priority is the comfort of your home.