A new furnace –– and most other HVAC-related repairs or replacements –– are costly. Add labor and delivery costs, and many homeowners find themselves in a difficult situation: postpone purchase or compromise on their financial goals and spending preferences. But with the right approach, this doesn’t have to be the case. With the right systems and partners, affordability is within reach.
The best way for HVAC companies to help customers afford their new furnaces is with accessible consumer financing – or low monthly payments. Partnering with the right financing firm for HVAC companies and their customers is key to not only boosting sales but also creating customer experiences that increase loyalty and retention. Read on to learn how providing affordable financing through United Consumer Financial Services, the trusted consumer financing firm for HVAC companies and contractors, can help increase affordability while growing your business.
The Financial Burden of Furnace Replacement
Furnaces are essential. When this equipment needs repair or a complete replacement, it’s often an emergency situation that requires immediate attention. Unfortunately, the average cost of a new furnace and installation is in the thousands of dollars, depending on the service area and type of furnace. These costs can be a devastating blow to homeowners, especially individuals on a tight budget or without the resources to cover the costs upfront. Even homeowners with credit cards might find themselves in a cycle of impossible interest fees associated with high monthly payments and revolving credit.
The financial stress of buying and installing a new furnace is overwhelming. But when you offer consumer financing, shoppers can easily afford their equipment and make the purchase on their timeline.
How Consumer Financing Increases Affordability and Accessibility
Offering consumer financing is essential in helping customers afford their new furnaces, as well as other HVAC equipment and services. When you partner with the right financing company, like United Consumer Financial Services, consumer financing works. Here’s a breakdown explaining the specifics:
Provides Immediate Affordability
A broken furnace is an emergency; the need is urgent and immediate. Consumer financing provides immediate affordability, allowing customers to get the furnace they need now.
Most individuals don’t have lump-sum cash for an upfront payment. Others don’t want to charge a big-ticket purchase to a high-interest credit card, with compounding fees that can increase their total cost by hundreds or thousands of dollars. UCFS offers installment loans that break down intimidating price tags into low, affordable monthly payments, empowering shoppers to make furnace purchases and installation without affecting their spending limits or jeopardizing their financial goals.
Offers Paperless Application
Shoppers want and expect streamlined consumer financing experiences. United Consumer Financial Services takes a mobile-first approach to financing, speeding along the application and approval process.
When you partner with UCFS, customers can apply for financing right in their own home while an HVAC provider is doing the inspection or after receiving a quote to consider their payment options. The application process is fast and straightforward, with our team returning a credit decision in just minutes. Our paperless approach allows your teams to proceed with the sale almost immediately, so your customers can buy and have their new furnace installed right away.
Makes High-Efficiency Units More Accessible
Consumer financing immediately increases consumers’ purchasing power. Cash payments limit what shoppers can afford. Credit card payments can come with exorbitant revolving interest that many individuals want to avoid at all costs. Installment loans empower HVAC customers with low monthly payments that make upgrades more accessible and affordable.
UCFS provides fair-rate financing that facilitates furnace upgrades for just a few dollars more per monthly payment. That means your customers can afford bigger, more efficient furnaces with advanced features without disrupting their budgets.
How HVAC Companies Benefit from Consumer Financing
Consumer financing options address the pain points shoppers face when purchasing a new home furnace while also serving HVAC companies. Affordable, accessible payment plans are the solution HVAC businesses need to:
- Have homeowners make a purchase decision right away
- Raise average order values
- Sell more equipment and warranties
- Maintain a positive reputation for long-term loyalty and referrals
Here’s how your HVAC company can benefit from proven consumer financing solutions from United Consumer Financial Services:
Improve Cashflow
Cash flow will make or break any business. HVAC companies can’t afford for customer payments to be tied up in accounts receivable. You need –– and deserve –– payment when you provide the equipment and services promised to your customers. Partnering with UCFS ensures on-time payments that keep your business running and growing; UCFS funds the business within 1 to 2 days of project completion.
Better Risk Management
Partnering with UCFS for consumer financing gives your business access to flexible financing options tailored to your risk tolerance. Our solutions let you adjust the cost structure of your program based on your customers’ credit profiles, helping you manage both cost and approvals more effectively.
UCFS offers two primary pricing strategies: one for higher-risk consumers and another for more conservative risk profiles. Each approach can be customized to align with your specific business needs, helping you achieve better risk management as you sell more furnaces and HVAC equipment and services.
Maximize Revenue and Decrease Spending
Consumer financing helps you sell more, but only if your program is efficient, effective, and structured to meet your HVAC business’s needs. In-house financing provides consumers with payment plans, but executing these programs is often more stressful, costly, and time-consuming than expected. Overhead costs, late or missed payments, and the time and talent required to run a financing program drain businesses of valuable resources.
But when you work with UCFS to implement a consumer financing program for your furnace and air conditioning company, you can maximize revenue as you decrease your spending. Our team handles applications and approval, scheduling, and payment collection, so you can focus on selling more furnaces and growing your business.
Sell More Equipment and Warranties
A consumer financing partner is only beneficial to your business if it enables you to increase sales. United Consumer Financial Services provides consumer financing programs that cater to HVAC companies, helping you increase equipment and warranty sales.
Our payment plans make your inventory and warranties more affordable, so you can sell more while serving more customers both today and long-term.
Increase Furnace Sales and Affordability with Consumer Financing
Implementing a consumer financing program is, far and away, the best way for an HVAC company to help customers afford their new furnace. With more than 45 years of experience serving businesses like yours, United Consumer Financial Services can anticipate and meet your needs –– and those of your clients. A division of Marmon, a Berkshire Hathaway company, we have the expertise and resources to serve you no matter your consumer financing needs.
Becoming a merchant is simple, and you can apply today. Contact UCFS to learn more about how to offer consumer financing for your HVAC company so you can increase sales –– and customer satisfaction –– starting now.
