How to Get Financing for an AC Unit


Air conditioning is a crucial part of life for many people who live in super heated climates like Arizona. It’s also important for many other areas of the country where temperatures may reach uncomfortable highs in the summer. Air conditioners are also large, expensive purchases that must be carefully planned for, often years in advance. So if you suddenly find yourself in need of a new AC unit, without any financial forethought, how do you obtain the financing you need to replace it? Luckily, there are several different ways you can go about it without worry. Precision Air and Plumbing offers some great financing plans with $0 down, 0% interest and no payments for 18 months, but there are many other options available to you as well.

Get a Company Loan

Often the company that sells or installs your air conditioning offers a loan or financing package to help you make the purchase easier. These loans are often the easiest to get, because these people want your business. They are also in the business of air conditioning, unlike a bank that may only be interested in larger loans like cars and houses.

You may find that the company offers several different types of financing, and that you can often get approved the same day. Keep in mind that the loan may be through a third party, it may only cover new units (not repairs), and that it may come with interest rates between 13 and 15%.

Get a State Subsidized Loan

Depending upon where you live, you may be able to get a state subsidized loan to help offset the purchase of your new air conditioner. You can contact your city council, or the company you’re purchasing from to see what may be available.

Rates from state subsidized loans vary depending on the state, but can be anywhere from 6 to 12%, so do your homework first.

Get a Home Equity Loan

This may be tricky in today’s market with so many borrowers underwater, but if you have enough equity in your home, you may be able to borrow against it to get your new air conditioner. Home equity loans are often the cheapest option, and the interest is tax deductible. You could pay anywhere from 4% to 5%, or 8% to 9%, depending on your credit and the amount of equity you have in the home. Keep in mind that while often the least expensive, home equity loans take the longest to close – about 60 days – so this may not be the best option if your AC unit suddenly stops working in July.

Get a Balance Transfer Offer

If you need to, you can always put the cost of the air conditioner on a credit card. Interest rates may end up digging you in deeper than you would prefer, unless you are able to find a balance transfer offer that can give you up to a year to pay it off interest free. If you are able to make the monthly payments in a timely way, this could be one of the least costly ways to pay for your new air conditioner.

Get a Federal Grant

If you have a low income, you may qualify for a Federal grant program aimed at helping homeowners who live with low or fixed incomes with heating and cooling expenses. The Federal Low Income Home Energy Assistance Program is designed to help with small grants that can help keep the power on. Some local offices can also help you find the resources you need to replace your air conditioner or HVAC unit.

Contact a Church or Charity

If you are active in your local church, you may want to see if you are eligible for funds that some churches put aside to help parishioners with major costs like new air conditioners, particularly if you have low income or live in an area where air conditioning is vital to your health.

Find Out About Rebates

If you purchase a high efficiency air conditioning unit, you may want to find out if it qualifies for any green rebates from or other programs. Some units with high SEER ratings qualify for tax credits and rebates that can offset the cost.

Get Creative

Keep in mind that the best time to buy a new air conditioner is when you don’t actually need one. Try to start planning for your new unit before the old one reaches its end so you don’t find yourself in an emergency situation — and paying more than you need to. Get creative and explore the different ways you can finance a new air conditioner and stay cool this summer.

Precision September 25, 2017

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Testimonials & Reviews

See What Our Customers Have to Say

    • #
      Brett Walker

      I wanted to make sure my air conditioner was ready for summer. Fernando came out and made sure my unit was tip top. He was friendly, professional and not a sales man. Thanks Fernando!

    • #
      Jackie Barkenhagen

      Colin and Andrea were incredibly professional and knowledgeable. They did a great job representing the company. We will definitely contact them again for any HVAC needs that arise.

    • #
      Nick Corso

      We woke up in the middle of the nite on memorial day to a hot house. I called precision at 6am and they were here before noon. Simple problem fixed, cool house. I love these guys!

    • #
      Jeneen Piche

      Thank you Ray at Precision Air...the compressor on our AC went out last night and the house was HOT. This morning Ray was there to replace the compressor and had us feeling the cool air again in no time. Great customer service...quick response time and friendly from the first call until the repair was completed. Ray even offered to clean the filters! Thank you!!

    • #
      Cara Perlman

      I’m so glad I called Precision for my annual AC checkup!! Austin was professional, super friendly and answered all my questions. I’ve had more bad experiences with AC companies here in the valley than good ones. Precision Air will have all my hvac business going forward!! Thanks for being a reputable and honest company!!!

    • #
      Jeff Stanczak

      He did a great job; professional and knowledgeable! Kalin is the technician’s name and Precision Air and Plumbing should take a bow for hiring such an invaluable employee!!!

    • #
      Kingsley Evans

      Precision Air is a company of integrity. I signed up with them August 1st, 2019 for their AC maintenance plan for 2 years... Someone from their office called me a week ago to set up their yearly maintenance visit. SO GRATEFUL.

    • #
      Andrew Burkhart

      Precision Air and Plumbing is a wonderful company to work with! They are very experienced and professional. They have helped us in our home for many years via a/c service and air duct cleaning.

    • #
      David Topping

      It was time to replace our AC, and so our choice was Precision Air, as we've been with them for over 20 years. Teman & Julian did an excellent job on the installation today, arriving on time.

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Chandler, AZ 85225

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