Many HVAC Customers want financing options, but not all HVAC Merchants provide them. Where’s the gap?
According to a study conducted by myCLEARopinion for ACHR NEWS, more than half of homeowners surveyed are interested in 12 months/no interest loans, while only a third of HVAC contractors provide these types of payment terms. The mismatch between what homeowners desire and what contractors offer can make it difficult to meet their Customers’ needs.
Lack of financing options can be a stopping point for homeowners needing a replacement unit of comparable quality and for Customers who are seeking upgrades to the latest HVAC technology. Although new, more efficient systems and products often provide a return on investment over time, the upfront cost can be higher. Many homeowners will require tailored payment options to enable them to take advantage of the indoor comfort solutions they need.
A study conducted by GWI shows that many consumers are willing to pay for more efficient and eco-friendly solutions. While most homeowners can manage the expense of a smart thermostat to control energy use and provide connectivity, those who desire a more advanced solution, such as ductless mini-split or variable refrigerant flow (VRF) systems may be looking for payment options tailored to their needs.
There are many examples of effective new systems that, while initially costly, are worth the necessary investment.
In the post-Covid world, indoor air quality has become even more important to many Customers. Advances in filtration technology, including high-efficiency filters and UV-C light air purifiers, are meeting this need by providing more effective removal of bacteria, viruses, and other pollutants. While known to be advanced, the question is whether they are purchased as part of a new HVAC systems, or as an add-on unit.
Other examples of effective newer technologies include energy recovery ventilation (ERV), solar power, and geothermal energy systems. Looking further into the future, magnetocaloric heat pumps, which eliminate the need for harmful refrigerants and use less energy, are on the horizon for residential use.
HVAC technology continues to evolve and consumers investing in their homes are reaching for the new options. In 2025, it’s an essential part of Business that HVAC service providers not only bring the latest, innovative products to their Customers, but also payment options.
Sources:
For more on HVAC and financing: Study: Two-Thirds of Homeowners Want to Be Offered Payment Terms, ACHR News
For more on energy and eco-friendly trends: Green consumerism: who cares about the environment?, GWI