Navigating HVAC Financing

At All American, we understand that the cost of a new HVAC unit can be daunting. Financing can make this essential investment more manageable.

However, it’s important to do your research before committing to a financing plan. If a deal seems too good to be true, it probably is. It’s important to get more than one quote and compare prices. We want you to get the best offer possible while being transparent about your options.

Here are some tips to find the right plan, and some things to watch out for.

Understanding Financing

HVAC financing allows homeowners to spread the cost of a new system over time, rather than paying a large lump sum upfront. The better your credit is, typically the better the rate you can get.

All American offers very competitive financing rates with varying term lengths. Depending on which products you buy, we have additional financing options. Our goal is always to get you the best monthly rate based on your individual needs without hidden costs or surprise fees.

Key Considerations

Hidden Fees
If a company promises “no payments for a year”, “no down payment”, or “super low rates”, they are likely charging you elsewhere.  To offer these deals, finance companies sometimes charge dealers an additional 10%.  So, you are probably paying an additional 10% more for your unit or service.

High Interest Rate
If you are offered a very low interest rate, make sure it won’t change later. Interest rates on financing plans can fluctuate. Initial promotional rates might start low but can increase significantly if you miss a payment or once the promotional period ends.

Life Expectancy of Unit
HVAC units usually last between 15-20 years.  It’s not wise to finance a unit any longer than 14 years. If you finance a unit for 20 years but it breaks at 17 years, you will face the price of a new unit on top of your remaining payments on the old unit.

Some financing plans include penalties for early repayment. Financing companies make more money when you pay off your loan over a longer period, so they punish early repayment to ensure they receive the full amount of interest. 

Making an Informed Decision

Before committing to any financing plan, do your homework. Compare multiple offers, understand the total cost of the loan, and consider your budget. Make sure to read the fine print and understand all potential costs.

At All American, we strive to provide clear and honest financing options to help you get essential HVAC services without breaking the bank. Reach out to us for more information and personalized advice on your HVAC financing needs.