Can I Finance A New Air Conditioner (A/C) This Summer?

Since a new air conditioner (A/C) is a significant investment, you might be wondering how you’ll pay for it, particularly now that summer is approaching. Some people can be surprised to learn that you don’t have to pay for it all at once; in reality, there are many options for reducing your out-of-pocket expenses. You’ll find tools to better help you apply for grants and other funding options for a new air conditioner in the sections below.

However, you must first determine the answer to one “serious” question.

Is It Really Necessary To Replace My Air Conditioner (A/C)?

Although repairs and routine maintenance are essential for extending the life of your air conditioner, there is a point at which industry experts can tell you that the cost of the repair isn’t worth it for a variety of reasons. If your air conditioner is more than ten years old and has not been properly maintained, it may need to be replaced.   Steady maintenance for your system  is critical for extending the life and improving the efficiency of your air conditioner. Most air conditioner (A/C) units will easily last for 15-20 years if properly maintained. At Energy Stars, we deliver a low-cost annual maintenance membership package that is an incredibly efficient way to keep your air conditioner running at peak efficiency.

Another important factor to consider when deciding whether to restore or upgrade is whether the new device uses R-22 refrigerant. This form of refrigerant is used in the majority of units older than ten years. R-22 production has been banned all over the world since January 1, 2020. If your current device operates on R-22, it’s time to consider replacing it. The cost of R-22 will continue to rise as a result of the ban on new production. If your machine leaks R-22 or develops a leak, fixing it or even getting it up and running can be expensive. It’s at this stage where you should start thinking about upgrading the machine rather than just repairing it.

Finance a New Air Conditioner (A/C) this Summer?
A Few Ways to get Grant Money or Financing for Your new A/C Unit:

1. Check For Home Energy Incentives

Today’s air conditioners are designed to be more energy efficient than ever before, with higher SEER (Seasonal Energy Efficiency Ratio) scores. These new air conditioners are made to keep you cool while keeping your cooling costs down. You will also get assistance from the service companies who have performance enhancement plans as a result of these significant energy savings.

Residents Of Illinois:

The Ameren Illinois Home Efficiency Program, for example, is focused on your salary, the number of people who live in your home, and the home’s current energy efficiency. If you are eligible for this program, Ameren Illinois will pay for a significant portion of your project. Ameren Illinois’ Standard HVAC Program also provides instant rebates for high-efficiency equipment installations.

2. HVAC Manufacturer Incentives And Rebates

Both HVAC equipment manufacturers, as well as their distributors, promote savings on a regular basis. We sometimes give discounts, which are mentioned on our specials page. This is a simple way to update your unit while saving money at the dealer or retailer.

3. Contact The Homeowner’s Insurance Provider If You Have Storm Damage.

Check your homeowner’s insurance policy for another way to get your A/C unit fixed for free or at a reduced rate. Your policies will not cover the cost of replacing the air conditioner if it breaks down due to normal wear and tear. Your homeowner’s insurance can cover the cost if it is badly damaged as a result of a storm or an accident.

4. The Use Of Credit Cards

Credit cards are an excellent way to get your setup with the least amount of hassle. Credit cards may often be used as a short-term solution, particularly if they have a higher interest rate. You may want to avoid taking a hit to your credit score. As a result, other funding choices might not be the best fit for you right now. Using a credit card may be for a variety of purposes, including refinancing, attempting to improve your credit score, and more. When you pass a balance to another account, some cards give low or no interest promotional periods that are worth looking into.

Finance a New Air Conditioner (A/C) this Summer?

5. Military, Navy, Air Force, Marines, Coast Guard, National Guard And Veteran Options

Organizations that work with military aid societies will help active duty troops and veterans pay emergency expenses.

An active duty service member, a member of an activated National Guard or Reserve unit, an immediate family member of a service member in the latter two groups, or a military retiree or spouse/widow(er) of a retiree will be supported by the American Red Cross – Hero Care Center. Costs associated with the repair or removal of a central air conditioner are examples of emergency expenses. To find out if you’re qualified, call the American Red Cross at 1-877-272-7337 or fill out an online application.

The Navy-Marine Corps Relief Society provides financial support to active-duty sailors and marines in times of need. They provide funds to assist with a variety of financial needs, such as necessary home repairs. They will be able to assist with the costs of air conditioner repair and replacement. Begin by contacting the NMCRS office closest to you.

If you’re a veteran looking to buy a property, the Veteran Loan Center will help you fund energy-efficient appliances as part of your mortgage, even if you already own one.

6. Senior Citizens Programs

If you’re 62 or older and have a low income, the US Department of Agriculture provides grants and long-term, low-interest loans to help you pay for various home improvements, such as air conditioning repair or purchase. Applicants can receive a grant of up to $7,500 or a loan of up to $20,000 repayable over 20 years at a 1% interest rate through this program.

Finance a New Air Conditioner (A/C) this Summer?

7. Financing For Air Conditioning

The cost of staying cool this summer should not be a consideration. As a result, there are several options for financing your air conditioner. One option is to contact the HVAC contractor who is working on your project. On our finance page at Energy Stars, we offer a variety of financing choices. Since your contractor may already have a partnership with the financier, this is one of the easiest ways to obtain financing.

Finance a New Air Conditioner (A/C) this Summer?

Financing is a smart way to get a new air conditioner because may be able to get the following benefits:

  • Low-cost monthly installments
  • Interest rates that are competitive or none at all
  • There is no requirement for a deposit.

When you sign a financing deal, make sure you understand all of the terms, including your interest rate, contract duration, and any other terms that might apply. Keep in mind that if you intend on living in your current home for a long time or want to improve your credibility , financing your air conditioner might be the best option.


We hope that this knowledge has been useful in assisting you in making decisions about your air conditioning unit or HVAC System. Call Earth Temp HVAC, Inc. in Illinois at (773) 827-9795 or fill out our online form when you’re ready to upgrade or fix your air conditioning unit.


Earth Temp HVAC, Inc.

Please fill out the form below to request a callback. A member of our team will be in touch shortly.

More Posts You May Find Interesting