A Guide to Financing Your Furnace Installation

Furnace installation is by far the most important thing to consider this fall. With temperatures on their way down, you need a furnace that will be able to supply the entire family with heat. However, financing a heating system may prove to be a challenge for homeowners whose savings do not cover a high-efficiency system. With the average cost of a furnace increasing over years, now closer to $4,000, having that high-efficiency system in your home may not seem possible. This leaves homeowners in a difficult position. Heating is a necessity. It simply cannot be neglected or put off until a later date. With your family’s comfort on the line, you need a furnace immediately. But how exactly do you find the money to fund the installation? How else can you heat your home effectively during the fall and winter? Well, fortunately, thanks to several financing programs and payment options available today, financing your furnace is easier than ever before. All you need to do is call a local heating company for information.
Calling P.W. Essig for Top-Notch Service
And that local heating company is P.W. Essig. Our team of heating technicians are making it their mission to supply homes across the area with a furnace that will provide highly-efficient, long-lasting heat. They will work with you in assessing what type, brand, and size of heating system would be perfect for your home. From there, they can quickly install and allow you to enjoy a steady flow of heat in your home as soon as possible. Even if you don’t think your savings will cover a high-quality system, we can make it possible, by giving you more info on financing programs and payment options. With our help, you will be able to achieve better peace of mind this season and get the heat you need to live comfortably. A more enjoyable fall begins with one quick phone call to P.W. Essig.
4 Payment Options for Your Furnace
Unsure if your savings will be able to cover the cost of a new furnace? Don’t worry, as there are several payment options today. Here are 4 of the most common:

Government Programs: If you are unable to gear all your savings toward a new furnace, then there are several state and federal programs now available to help you get rebates and other financing. Ask P.W. Essig about any available programs in your area and we should be able to supply you with the details.
Dealer and Manufacturer Financing: Rebates will require you to pay for a system upfront, but it will have long-term benefits if you are able to borrow money elsewhere to pay the upfront cost. Also ask your heating technician about any additional offers like rebates and annual furnace maintenance programs. Any reliable technician will ensure you have the option of value-add services.
Online Crowd Funding: You may have heard of the online crowd funding site GoFundMe. This allows you to make a call for any donations to fund your new heating system. You can also help strangers as well with any donations they may need.
Bank Loans and Credit Cards: You may qualify for a home improvement bank loan for any furnace installation if you have sufficient credit. You can also pay with credit cards if you have an adequate balance in your bank account. There is also the option of a collateral loan, where you will have to relinquish a title in a real asset in exchange for a loan. However, please be careful with either option, as you will face paying interest rates regardless of which option you choose.

Be Careful with Financing Programs
There are many helpful financing programs out there ready to help you get an HVAC system, but proceed with caution. Some options are targeted toward bad credit borrowers that can put you in a worse financial situation than when you started. Please be aware of the following:

Promises of “No Annual Fees”: The promise of “no annual fees” may sound nice, but it’s not worth the continued search for a lower interest rate. Annual fees usually hover around $200, and interest rates can quickly build up to that amount.
Low Monthly Payments: The offer of low monthly payments will usually come at a price, commonly a higher interest rate. However, if you are looking to save more money now, it is certainly worth considering.
Zero Down Payments: The more money you finance, the more interest you will pay, resulting in a higher long-term cost to operate the system. Zero down payments carry the same price as low monthly payments, except with even higher interest rates.
No Prepayment Penalties: This feature is actually beneficial and should be considered essential if you are a loan seeker. No prepayment penalties allow you to pay off your furnace loan early, avoiding higher interest rates in the process.

Don’t Let The Cold Weather Sneak Up On You – Schedule Your Furnace Installation Today
Contact P.W. Essig today if you want to stay warm and comfortable this season thanks to our furnace installation!

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