hvac financing

It’s the middle of January.

You’re in the thick of another cold Canadian winter.

You go to turn on the furnace and warm your house.

It starts, then sputters, and finally dies.

The same thing happens in July when you turn on your A/C after a hot summer’s day.

You need a new HVAC system, but it’s expensive.

New furnaces can range anywhere from $2,500 to 8,000.

New A/C units run around $4,800 once you factor in installation costs.

So, how can you upgrade your heating and cooling system without melting your budget?

Fortunately, several HVAC financing options exist.

From loans to rebates and everything in between, we’re going to look at a variety of available alternatives, so you can make the right decision before you upgrade.

Loans – The Simplest HVAC Financing Method

I’m a big fan of KISS, i.e. Keep It Simple, Stupid.

The quickest way to upgrade your entire HVAC system is to get a loan.

While you can go to a bank, you don’t have to.

Many companies offer HVAC financing exclusively for homeowners.

Let’s see how they compare, shall we?

1. Furnace Financing

Furnace Financing provides excellent warranty coverage and an easy way to apply.

You can enroll in a zero percent interest plan and skip the down payment.

Furnace Financing also offers customizable payment schedules that allow you to pick the plan that fits your budget.

You can spread the loan out anywhere from one to fifteen years and pay it off as fast as you like.

Best of all, you won’t have to buy a second-hand brand.

You can still get best high-efficiency units and save thousands of dollars.

While all this is subject to a credit check, Furnace Financing provides alternatives for those with less than stellar credit.

Approval is guaranteed if you’re the homeowner and your installation is free.

Simply pay one low monthly payment, and you’re all set.

2. Finance It

Finance It is one of the largest market leaders in payment solutions.

They bring homeowners and dealers together by offering low-interest financing to fund major purchases.

Getting your loan is a snap too.

Apply online or through a private link given by your contractor.

In seconds, you’ll know if you’re approved and how much you’ll be able to borrow.

Then, make the payments.

You’ll get email alerts to ensure you pay on time, as well as best-in-class customer service to help you through the process.

As I said, their interest rates are low, usually around 6.99 to 12.99% depending on the size of the loan.

That’s less than most credit cards.

Like Furnace Financing, you can spread the loans out up to fifteen years and pay them off as quick as you like.

3. Bulletproof

Don’t blink. You read it right.

We offer HVAC financing options as well.

While all these other choices are great, it can be an inconvenience when you live in Hamilton to wait for a technician all the way up in Ottawa.

FinanceIt has excellent customer service, but dealing with a corporation can feel a bit impersonal.

Bulletproof gives you the best of both worlds.

Like Furnace Financing, we have zero interest plans and flexible payment schedules, but we’re a lot closer to home.

We focus exclusively on the Hamilton-Toronto area, so you never have to wait long for a technician.

We also work with FinanceIt to get the most affordable loans for you.

This way, you deal with a friendly face and not a big company.

We even offer alternatives for homeowners with bad or no credit.

Our most popular of these options is our rent-to-own program.

It’s not subject to credit approval and the installation, inspection, and repairs are all free.

All you have to do is a pay a flat monthly rate.

Every rental comes with a lifetime warranty, and you get access to all the top brands.

Bulletproof provides peace of mind.

We take the headache out of upgrading your HVAC system, that way you stay warm and keep cool.

Deals and Rebates – Shop the Sales

In addition to loans, manufacturing brands give out special promotions to complement HVAC financing.

Lennox offers up to $1,300 in system rebates when you buy with them.

Brands like Goodman and KeepRite also have specials on their most expensive units.

Usually, these occur during the offseason around early spring or late summer/fall.

Your local utility company can score you some rebates as well.

The Ontario Power Authority (OPA) gives rebates of up to $650 when you upgrade your system ($400 for the old  A/C unit and $250 for the furnace).

If you use a gas furnace, you can receive additional rebates from your gas company.

Union offers up to $5,000 in rebates when you complete two qualifying upgrades.

Enbridge requires the same amount of qualifying upgrades and provides up to $2,100 in rebates.

Qualifying upgrades include things like replacing your furnace or water heater, sealing air leaks, or improving insulation.

But wait, there’s more.

The government also pays out grants to upgrade your HVAC system and decrease your energy spending.

An official will have to come out and assess your home, but you can receive up to $5,000 toward retrofitting your HVAC system.

Offseason Purchase – Get It While It’s Cold

Knowing when to buy is just as critical as what to buy when it comes to HVAC financing.

It may be cheaper to strike while the iron’s cold.

Typically, the offseason for HVAC contractors runs between early spring and late summer/autumn.

They’re more willing to give you a deal so they can stay busy.

You also gain benefits in addition to saving money.

Because your need isn’t as immediate, you can take the time to research various contractors and find the right deal for you.

You can also search the brands that work best for your home.

Scheduling is easier too.

During the summer and winter, it can take days or even weeks to book an appointment, but during the offseason, you can pick the time that is most convenient for you.


Upgrading your HVAC system is a tall order.

It’s expensive, sure, but with the right HVAC financing option, it is a fantastic investment.

Keep your family happy and save money at the same time.

If you need installation or more financing information, we can help with that.

Get a free quote now from one our experienced HVAC professionals.

Got an HVAC tip you’d like to share?

Know any other ways to finance an HVAC upgrade?

Let us know in the comments.

We’re always looking to save you more money.