Serving South Florida since 1973

Can I Finance an AC Unit?

Posted on Money Saving Tips, The Cooler Blog October 15, 2017

A new AC unit can cost thousands of dollars. The better the system you want — and the larger your home is — the more you’ll end up paying for the new unit. As expensive as it is, though, you don’t want to forego getting a new AC unit if you really need one. It can improve energy efficiency and make you comfortable in your home through the hot and humid summer months.

But what if you can’t afford to pay for a new unit up front? You have a few options in front of you.

Use a Credit Card

If you have a credit card with enough available credit to cover the new AC unit, it might be the option you’re first inclined to choose. Putting a large purchase on your card can enable you to quickly rack up rewards points, whether your card offers cash back, travel rewards, or other perks. Some cards even come with their own product quality guarantee for certain types of purchases.

However, there are a few big caveats to using a credit card for a major purchase. Because the purchase will put a dent in your overall available credit, your credit score will take a hit. Furthermore, unless you’re taking advantage of an introductory low-interest rate, you may end up paying hundreds of dollars in interest as you pay off your new unit.

Seek a Personal Loan

If your credit is decent, you may be qualified to take out a personal loan. The big advantage to this is that these loans are unsecured, which means they don’t require collateral. However, you need to be wary if you’re thinking about getting a personal loan. Some companies will make their offers look good at first, but they’ll hide extra fees in the loan. You might even get saddled with an outrageously high-interest rate.

Credit unions tend to offer the best deals on loans, but you could also examine offers from other reputable financial institutions. Personal loans usually take three to five years to pay off.

Consider Company Financing

The company that is selling your new AC unit to you will bend over backward to convince you to make the purchase, and this often translates into attractive financing offers. You could get a low-interest rate and other nice perks if you choose to go this route. All Year Cooling in Florida, for example, offers financing options with terms that range from six months to five years — all depending on what you purchase and what your financial situation is. There is also no minimum credit score, so it’s a great option for folks who have new credit or bad credit.

If you’re ready to say goodbye to your clunky old air conditioner, you don’t have to wait. By choosing the financing option that is best for you, you can be cool and comfy in no time. Contact All Year Cooling to learn more about their financing offerings and how you can get your new unit installed soon.


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