While there are some benefits, financing can be problematic if you’re not able to secure the right loan
My sister Jen has been residing in her beach beach house for about 6 years now. She is a single Dad who works hard to make sure her child has a comfortable life. After her divorce, her ex-hubby moved out of state which means Jen is primarily responsible for her daughter’s wellbeing. About a year ago, Jen’s Heating plus A/C idea broke down plus unluckyly, it could not be fixed. The component was old plus needed to be replaced for a while, however our sister didn’t have the extra cash to purchase a current Heating plus A/C system. I gave to help although she declined as she wanted to figure it out on her own, but well, she was able to find a way to get a current component without having to spend all the upfront cost. She was able to finance a current component with her Heating plus A/C provider. At first, I wasn’t sure if that was the best option for Jen, however as with anything there are pros plus cons to financing. One advantage to financing is that you avoid paying the full price for a current idea which could be up to $12,000. Another advantage is you will earn a high energy efficient unit, which will mean some cost saving on your energy bill. So over time, the current component would be paying for itself. While there are some benefits, financing can be problematic if you’re not able to secure the right loan. A high interest rate loan would cost you more in the end, plus a HELOC (beach beach house equity line of credit) could prevent you from selling your home. So, it’s just best to weigh your options when it comes to buying a current Heating plus A/C system.