The opportunity to lease rather than purchase a new HVAC system might sound appealing, but is it the best option for you? Here are some key factors to consider before deciding.

Upfront Vs. Long-Term Costs

Leasing allows you to enjoy all the benefits of a new heating or cooling system without having to make a substantial investment. There’s no denying, however, that a leased HVAC unit will cost you significantly more over the long run. It’s also important to remember that when you lease a system, you don’t actually own it. That means you’ll be held financially responsible if anything damages the system.

Leasing a system can also present problems if you decide to sell your home. Will the purchaser need to take over the payments? Will you be required to pay the remaining balance before selling the property? It’s critical to read the fine print of the contract before signing a lease.

Preventive Maintenance and HVAC Repairs

Some leases include coverage for any necessary repairs, provided that proactive maintenance services are performed regularly. The cost of regular tune-ups is often added onto the total price for the system. In addition, the lessee is required to rely on the leasing company for all HVAC repairs, whether their service is satisfactory or not.

There’s a Third Option

If the initial cost of a new HVAC unit is your primary concern, consider financing the system instead of leasing it. At E. Smith Heating & Air Conditioning, our financing options make a new purchase affordable. We’re also pleased to include a range of extra perks such as energy-saving proactive maintenance with each Carrier HVAC system we install.

Own or lease? Contact E. Smith Heating & Air Conditioning today, and we’ll help you select the financing option that best fits your needs and budget. Since 1962, we’ve been proud to provide Marietta, Kennesaw, Roswell, Acworth, Smyrna, Woodstock, and surrounding communities with top-quality HVAC services.