How do you pay for a new HVaC unit that costs 8,000$ and you don’t have that in cash? Credit cards?
Personal loan? Home equity loan? Get a credit card? Maybe AC company offers financing.
@LENAHZ thank you for your response
Many if not most HVAC companies have some sort of financing program. Terms vary widely I am sure though.
Larger HVAC companies often offer no-interest financing. If not, try a personal loan, line of credit, or a credit card with a good balance transfer option, potentially offering up to 20 months of no interest
Many HVAC companies offer financing with no-interest periods. Pay off the loan within this period to avoid retroactive interest. If unaffordable, consider a home equity loan for lower interest rates
We did a wells fargo loan, think it was like a home project type loan… Got it paid off in 2 ish years. We luckily had the funds to pay half and finance the rest.
Other folks have answered the direct question. Going forward, you should build an emergency fund of six months expenses that’s for emergencies only (job loss, hvac, unexpected medical, etc), then prioritize refilling the emergency fund anytime you have to draw from it. For new homeowners, you should already go in with a six month emergency fund in addition to any closing costs/down payment. Always run your numbers before buying to ensure you have margin in your budget to weather small emergencies or save back up after big emergencies.