11.90% Reduced APR
11.90% 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 11.90%.
Example of 11.90% 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 critical the interest rates can affect your actual cost of the job.
|
APR |
12% |
14% |
16% |
18% |
|
Length of loan in months |
72-74 |
73-72 |
84-85 |
86-90 |
|
$1,500 |
$2,111 |
$2,224 |
$2,502 |
$2,839 |
|
$2,000 |
$2,815 |
$2,967 |
$3,336 |
$3,786 |
|
$2,500 |
$3,518 |
$3,708 |
$4,170 |
$4,732 |
|
$3,000 |
$4,222 |
$4,450 |
$5,004 |
$5,679 |
|
$3,500 |
$4,926 |
$5,192 |
$5,838 |
$6,626 |
|
$4,000 |
$5,630 |
$5,934 |
$6,672 |
$7,573 |
|
$4,500 |
$6,333 |
$6,675 |
$7,507 |
Texas Air Conditioning License # TACL A09991C