At one time or another, the heating and cooling system in your home will need some type of repair. Unfortunately, the need for AC repairs does not always occur when you have plenty of money in the bank. This means you will likely need to come up with some sort of financing to take care of the charges. Depending on your circumstances, it may be possible to make the arrangements without any type of delay.
ATS Mechanical Heating & AC Repair Tomball, a certified Mitsubishi Electric Diamond Contractor which continues to serve customers in Tomball, Texas even after moving to another city, explains 3 tips for making these financing arrangements.
Use a Credit Card
Just about all services that provide AC repairs will accept credit cards in payment for the work performed. If you have a credit card with a sufficient line of credit to cover the entire cost, then the problem is solved immediately. You won't have to find financing from any other source, and you will have the ability to manage paying off the debt in a way that fits in neatly with your household budget. Use the lowest interest card. Alternatively, you could get balance transfer offer with 0% APR first year. Chase and CitiBank offer that for example.
Keep in mind that if you go this route, it helps to settle the balance due sooner rather than later. That is because the card balance will be subject to finance charges from month to month. Identify a figure that is well above the minimum due each month and pay at least that much without fail. When you can come up with some extra cash, pay a little more. By paying off the balance as soon as possible, you will limit the amount of interest paid on the debt and keep the overall cost of those repairs to a minimum.
Talk with Your Banker
If you have excellent credit, there is a particularly good chance that you can obtain an unsecured loan without a problem. Loans of this type normally don't take long to approve, especially if you go to the bank where you already have accounts established. In some cases, you could have the money in your checking account in as little as 24 hours.
Even if your credit is not the best, it would not hurt to talk with your mortgage lender. The upkeep on the heating and air conditioning system is important to the market value of the home. If you have a fair amount of equity in the property, your mortgage lender may be more than happy to provide a home equity loan that will cover the costs of those AC repairs.
Financing Through the Repair Service
Another possible approach is to see if the repair service that is taking care of those AC repairs might have some sort of financing deal in place. There is the possibility that the service will finance the repairs in-house, allowing you to pay off the balance over a period of a few months. For more complex repair jobs, the service may be able to provide you with an application to a finance company that can provide the funding needed before the repairs can take place.
Just like any lending situation, the application will have to be reviewed by the lender. This is no real problem if you have excellent credit. If you meet the basic criteria established by the lender, the financing could be approved in no more than a couple of business days.
The important thing is to secure the financing needed for air conditioning repair as quickly as possible. Doing so will mean the repairs can get underway without any type of delay. Along with the fact that you want the system to keep the home at a comfortable temperature, making repairs now means the chance of additional damage to the components is decreased significantly.
To learn more about financing options for AC repair Tomball, TX, ATS Mechanical Heating & AC Repair can be reached at Google Maps or by calling (832) 377-4903.