9.90% Reduced APR
9.90% Reduced APR
Make your first monthly investment (as little as 2% of the outstanding balance) 30 days after your new system is installed.
Billing each month, beginning 30 days from the installation of your new system. Your choices are:
- Complete your total investment in full at the end of each billing cycle and incur no interest.
- You can make monthly investments for as much or as little as you want, as long as you meet the minimum 2% of the total outstanding balance. Unpaid balances incur interest at an annual rate of 9.90%.
Example of 9.90% Reduced APR:
Initial investment x Monthly interest = Total outstanding balance x Minimum payment = Min. monthly investment
$6,000.00 x (1.01%) = $6.060.00 x (.02%) = $121.20
NOTE: Examples are for estimation and demonstration only. Terms are subject to change and should be verified when applying for financing.
Bottom-Line Benefits of a Reduced APR
The chart below is based on typical Furnace & Air Conditioning revolving finance plans where the payment is based on 2% of the original balance.
Use this chart for estimating purposes to see how critically the interest rates can affect your actual cost of the job.
| APR | 10% | 12% | 14% | 16% | 18% |
| Length of loan in months | 70-72 | 72-74 | 73-72 | 84-85 |
86-90 |
| $1,500 | $2,000 | $2,111 | $2,224 | $2,502 | $2,839 |
| $2,000 | $2,667 | $2,815 | $2,967 | $3,336 | $3,786 |
| $2,500 | $3,334 | $3,518 | $3,708 | $4,170 | $4,732 |
| $3,000 | $4,001 | $4,222 | $4,450 | $5,004 | $5,679 |
| $3,500 | $4,668 | $4,926 | $5,192 | $5,838 | $6,626 |
| $4,000 | $5,335 | $5,630 | $5,934 | $6,672 | $7,573 |
| $4,500 | $6,001 | ||||
| $5,000 | $6,668 | $7,038 | $7,417 | $8,342 | $9,466 |
| $5,500 | $7,336 | $7,741 | $8,159 | $9,176 | $10,413 |
| $6,000 | $8,002 | $8,445 | $8,901 | $10,010 | $11,359 |
| $6,500 | $8,669 | $9,149 | $9,642 | $10,844 | $12,307 |
| $7,000 | $9,336 | $9,853 | $10,385 | $11,678 | $13,253 |
| $7,500 | $1,003 | $10,556 | $11,126 | $12,512 | $14,200 |
| $8,000 |
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