With winter quickly on its way, you may be thinking “How do I pay for a new furnace?” if your furnace needs to be replaced. Don’t panic if this has you stressed, there are may options out there to help you. Below we have compiled some great resources currently available to offset and finance the expense of a new furnace.
Top 3 signs that your furnace might need replacement:
- Over 15 years old
- Has had a need for multiple repairs recently
- Isn’t keeping your family warm
Don’t let the sticker shock scare you or make you postpone the decision. Waiting to replace a furnace after it fails, can lead to higher costs do to emergency or after-hour up charges. Also, if you need a furnace service repair or replacement install, there might be a delay in getting a technician out because of high demands.
If you need a new furnace, read these tips on how to pay for it:
Check for Heating Incentives
Your local utility provider, such as Ameren Illinois, Ameren Missouri, or Spire Gas Co. may have rebates and incentives to help you with the replacement of an old equipment. There could be rebates, income qualified incentives, or discounts off the new equipment costs available at that time.
Ameren Illinois has both income based and standard incentives:
Ameren Illinois Home Efficiency Income Qualified Program – This program is designed to help low to middle income families replace outdated equipment with new, energy efficient units. You can click here to apply.
After you apply, Ameren will reach out to you on the next steps which will include an energy audit of your home. This audit will see where your current equipment is efficiency wise and will check your insulation levels. Ameren Illinois has Core Ally HVAC contractors (Energy Stars Heating & Cooling Co is a leading Core Ally in the area) to complete the work, including replacing your old units and installing new insulation.
Ameren Standard Incentives – This program provides incentives for heating and cooling equipment including:
- Central Air Conditioning
- Air-Source Heat Pump
- Gas Furnace Blower Motor
- Smart Thermostats
Like the Income Qualified Program, the contractor performing the install must be an Ameren Registered Program Ally. This is a great program to look into if you or your home doesn’t qualify for the Income Qualified Program.
Please contact us if you would like more information on Ameren rebates.
Furnace Financing & Factory Rebates
Financing – Many contractors like our company provides flexible financing solutions with interest rates starting as low as 4.99%. If you’re interesting in applying for financing, we can let you know your approval status as soon as 24 hours. The term of the financing could be as long as 145 months to get a lower payment per month.
No Credit Financing – Some contractors like Energy Stars Heating and Cooling offer a no credit required financing option, it’s similar to a lease-to-own program by offering a hassle-free monthly payments based on minimal financial requirements. This lease program gives you the ability to own a new system and not have to pay for it in full up front. There are a few requirements for this program and we would be happy to talk with you about it.
Factory Rebates – Rebates are based on the specific system you choose. As a proud YORK® Certified Comfort Expert, we can make sure you will receive all right rebates to help alleviate the cost of a new system. These rebates varies by manufacturer and is subject to change, so be sure to ask your contractor about any on going manufacturer rebates that are going.
No matter your situation, Energy Stars Heating & Cooling Co wants to help you stay warm this winter. If you’re worried about your furnace failing or how to pay for a new furnace, call us at 618-477-8337 or leave us a message here. We offer free consultations to price out a new system and will offer low cost service repair options.