HVAC financing
Heating and cooling fails at the worst possible moment, in the middle of a heatwave or a cold snap. Financing exists because the replacement cannot wait for savings.
The short version
A full HVAC system replacement typically runs $7,000 to $15,000 installed, and a single furnace or condenser $3,500 to $8,000. Programs cover $500 to $50,000 with fast decisions, which matters because HVAC is an emergency purchase more often than a planned one. Contractors in the merchant network can apply on your behalf at the point of the quote.
Realistic expectations
Typical HVAC replacement costs
Installed prices, which vary considerably with ductwork condition, system size and region.
| Job | Typical installed cost | Usually financed as |
|---|---|---|
| Furnace only | $3,500–$7,500 | Lease or installment loan |
| Air conditioner only | $4,000–$8,000 | Lease or installment loan |
| Full system, furnace and AC | $7,000–$15,000 | Installment loan |
| Heat pump | $6,000–$14,000 | Installment loan |
| Mini-split, single zone | $2,500–$5,000 | Lease |
| Ductwork repair or replacement | $2,000–$8,000 | Can be combined with the system |
| Water heater | $1,200–$4,000 | No credit needed, or lease |
Ranges reflect published program terms. Approval, approval amount and terms are determined by the provider after underwriting and are not guaranteed.
When the system fails
Four steps in an emergency replacement
Get more than one quote if you possibly can
Even in an emergency, a second quote on a $10,000 job is worth the half day. Prices on identical equipment vary widely between contractors.
Ask about efficiency and rebates
A higher-efficiency system costs more up front and less every month. Utility and federal rebates frequently exist and are routinely left unclaimed.
Finance the whole job
Equipment, labour, permits, ductwork and the thermostat belong in one approval. Splitting the job across two approvals delays the install.
Check the warranty registration
Manufacturer warranties often require registration within 60 to 90 days of installation. Contractors forget; you should not.
For contractors
Offering financing at the quote
HVAC is the category where financing most directly decides whether a job happens. A homeowner facing a $9,000 quote with no savings either finances it or patches a failing system for another season.
Contractors in the merchant network present financing at the point of quote rather than sending the customer away to arrange it, which is where most of these jobs are lost. There are no mandatory merchant fees on standard programs and no sales minimums.
See merchant information or call 888-509-1370.
Repair or replace
As a rough guide: if the repair costs more than about a third of a replacement and the system is over ten years old, replacing is usually the better financial decision. Under that, repair and plan the replacement.
Questions
Common questions
Can I finance HVAC with bad credit?
Yes. A lease covers up to $15,000 on fair or rebuilding credit, and a no-credit-needed program up to $7,500 decides on income rather than a credit score.
How fast can I get approved?
Instant in many cases, which matters when the system has already failed. Larger full-system jobs may take slightly longer.
Does it cover labour and permits?
Yes. Equipment, labour, permits, ductwork and thermostats can all be financed as one job.
Can my contractor apply for me?
Contractors in the merchant network can present the application at the point of quote. If yours is not in the network, they can usually be added — call before the job starts.
Can I finance a water heater separately?
Yes, typically $1,200 to $4,000 and usually within the no-credit-needed program.
Keep reading
Related pages
See what you qualify for
One application, the whole lender network. Looking starts with a soft credit check and will not affect your score.