We are in the full swing of summer! With that, it may be time for you to replace your air conditioner. While repairs and regular maintenance are essential to extending the life of your A/C, there is a break even point where the cost of repair isn’t worth it. If your A/C is over 10 -15 years, it is replacement time.
Today’s air conditioners are designed to perform at peak efficiency. With higher SEER ratings (Seasonal Energy Efficiency Ratio), your new A/C will be designed to keep you cool and keep your cooling bills low.
But an A/C is large investment so you may be wondering how you’re going to pay for it. You don’t have pay it all at once. And there are several ways you can make payments or even get assistance to help reduce your out of pocket cost.
Read how you can pay for your new air conditioner:
Check for Home Energy Incentives
Your utility provider may have programs in place to help homeowners pay for new HVAC equipment like air conditioners. You may also be able to get help paying for a new furnace or add other energy saving measures like insulation and air sealing.
Programs like the Ameren Illinois Home Efficiency Program are based on your income and how many people live in your home. If you are approved for this program, you can have a significant amount of your project paid by Ameren Illinois.
Check with Your Insurance
Another way besides utility grants to get your A/C for free or a low out of pocket cost is to check with your homeowner’s insurance. If your A/C is down because of normal wear and tear, your insurance will not pay for it.
However, if it seriously damaged after a storm or accident, your homeowner’s policy may cover the cost.
Air Conditioning Financing
Staying comfortable this summer shouldn’t be based on your budget. That’s why there are many ways to finance your air conditioner. One way is to go through the HVAC contractor you’re working with on your project. This is one of the best ways to secure financing because your contractor will already have a relationship with the financing company.
Financing is a great way to get a new A/C because you’ll also get:
- Low monthly payments
- Competitive interest rates
- No down payment required
When you sign a financing contract, be sure that you understand all of the terms like your interest rate, length of contract, and any other conditions that apply. Keep in mind it’s best to finance your A/C if you plan on staying at your current home for a while.
These are a few ways you can pay for an A/C. When you’re ready to replace your old A/C, call Energy Stars Heating & Cooling Co.