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Lease-Purchase HVAC Financing: Your Step-by-Step Guide


When you need to replace your HVAC unit, you don’t want to wait.

However, especially since the average HVAC unit costs anywhere from $1,000 to well above $10,000 if you need new ductwork installed, we understand that you have concerns about how to afford it.

It can feel especially overwhelming if you have bad credit.

Lease-Purchase HVAC financing is the solution you’ve been looking for.

Read on to understand how the process works.

1. Choose the HVAC Unit You Need

Just because you’re looking into HVAC financing options doesn’t mean you should be limited when it comes to the kinds of units available to you.

Ensure that units come with a warranty, ask if there are both used and new HVAC equipment options, understand their overall energy efficiency and choose the unit that works best for your needs.

2. Understand Lease-Purchase Options

So, how exactly does financing for HVAC replacement systems work under a lease-to-own contract?

First of all, these loans are ideal for those with poor credit or with little credit history. Instead of checking your credit report, the programs will look at your current income levels to determine your eligibility.

You’ve likely heard of buying your car off of a lease. Lease-purchase options for HVAC units work in the same way. At the end of your lease, you’ll have the option to buy the HVAC unit outright.

Your monthly rent payments serve as a credit towards the cost of the unit itself. You’ll also likely save on the original purchase price of the unit with lease-purchase options.

3. Calculate Your Monthly Payments

The monthly cost of paying back your HVAC loan is calculated based on the total cost of the unit, the length of the loan, the interest rate, and the specific requirements of your lender.

The longer the loan term, the lower the payments you’ll need to make each month. Study up on any fees associated with the loan, and make sure you can repay the loan in full by the due date.

When you’re looking for HVAC financing deals, be sure that you also ask about any available discounts associated with an early pay-off.

4. Complete the Application

The application process for lease-purchase HVAC financing is much simpler than a traditional loan application.

In order to qualify, you’ll need to show that you’re a homeowner and that you live in the property where the HVAC unit will be installed. You’ll also need to show that you’re employed, and have been at your current job for at least six months.

You’ll need to make a monthly household gross income of at least $3,750, and you’ll need to show that you have an active checking account with a positive balance and no NSF’s within the past 60 days.

Ready to Apply for Lease-Purchase HVAC Financing?

Interested in applying for lease-purchase HVAC financing?

We’re here to make it happen. In addition to helping you to finance your new HVAC system, we can also assist with financing for jewelry, electronics, furniture, and much more.

Complete the application on our website to start the process.

With our help, you’ll be able to enjoy a new HVAC unit as soon as possible.

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