An old air conditioner is a ticking time bomb, except you can’t predict exactly when it will go off. One day it works and the next, you’re stuck in a warm, humid house.
How to Afford a Sudden Air Conditioner
According to This Old House, the typical central air conditioner can cost between $1,200–$4,500, plus more for installation.
With this hefty price tag, most people would struggle to cover this bill without any warning. Even just a $400 unexpected expense is more than most people can handle.
If your budget is stretched to its limit, consider your options below:
Can You Live Without AC?
Living without your air conditioner may provide a sweaty yet budget-friendly way to afford a new appliance. You can rely on fans, cool drinks, and popsicles until you save up what you need.
Not sure how you can save? You can find ways to save money with these 5 apps. Stick with them long enough, and you’ll have enough for a new unit soon.
Unfortunately, not everyone can live without air con. Seniors and people with chronic illnesses, severe allergies, or immune diseases are more vulnerable to the heat than others. Anyone living where temperatures regularly reach 130°F (55°C)may consider AC a necessity.
Get an Installment Loan Online
If you can’t live without AC and are just shy of what you need for a new appliance, consider an installment loan. Installment loans can provide a convenient safety net when your budget falls apart, advancing the cash you need to take on an unexpected AC repair or replacement.
If you aren’t happy with your current bank’s selection of loans, check out online financial institutions. Many online loans work like most personal loans today — if approved, you’ll receive your funds as a direct deposit in your bank account to use as needed.
Ask for HVAC Financing
If you can’t afford a new AC even with an installment loan, consider asking your HVAC professional for help. Some installation experts will have financing plans set up to help their customers handle such a large upfront cost. These plans work a lot like an online installment loan, except you’ll owe the HVAC company instead of a financial institution.
What Are the Warning Signs of Air Con Failure?
Sometimes, a breakdown truly comes out of the blue. But in many cases, your appliance gives you ample warning that the end is near.
You should start saving up for a new air conditioner if you notice any of the red flags below.
Warning Sign #1: Age
Every appliance has a lifespan, and your air conditioner is no different. How long your air conditioner will last depends on how often you use and its size. That said, most appliances run for 12 to 17 years before you need to consider replacing them.
Warning Sign #2: Efficiency
The older an air conditioner gets, the less efficient it is cooling your home. You might notice some rooms are warmer than others, or your air conditioner starts to run constantly to keep it at the icy temperatures you want.
Warning Sign #3: Expense
Whenever an appliance has to work harder to do its job, it consumes more energy. You can expect to see a Texas-sized electricity bill due to this extra load.
The Takeaway:
Pay attention to what your air conditioner is trying to tell you. Sudden spikes in your utility bills and poor cooling abilities could signal a breakdown is in your future. Take heed of these warnings and set aside savings. This can help you handle a replacement without HVAC financing plans or online loans.
