Keep in mind that with those special “promo” rates, there is usually a catch.
In my case, if I ever am late with a payment, even by one day, the loan will retroactively default to the default interest rate, which is usually something bordering on usury. In my case, that rate would be 24.99%.
So, I think that means they’ll go back in time and turn the entire loan amount into that rate, thus increasing the current balance. I think that’s the case anyway, and I sure as hell don’t want to find out the hard way, so I’ve been prioritizing that bill every time it comes.
If I had had another option at the time, I would have actually preferred to go with a regular bank loan at a slightly higher rate, rather than put myself in a position where, even a day late could cost me a couple thousand dollars. So if I ever get the opportunity to transfer the balance to a more normal loan, even at a slightly higher rate, I’m going to do so.
Yeah, I forgot to mention that when I was figuring the savings on electricity and gas. I definitely remember that pain. Twice a year for the last 10 years, I’d have a $100+ bill for a freon recharge. I can’t remember which freon it used, but I think my final recharge cost $150 because it was getting less legal to do.
Then there was an out-of-balance fan blade replacement at one point ($150), and a capacitor replacement ($10 part that cost the minimum $100 to replace). And coil cleaning! The A-coil (the one indoors that was neigh-impossible to reach) was getting gunked up pretty frequently. The condensation wasn’t draining properly, resulting in rust and mold, resulting in more gunk plugging up the drainage paths. I paid them the first time, watched what he did, and did all the subsequent cleanings myself, but what a monumental pain! Took me about two hours every time I did it.
The furnace was actually working pretty well, and never needed any actual repair, but since the systems were connected, and dated to 1984, I just opted to replace the whole works, and I’m not regretting it. Peace of mind, reduced energy costs, and (so far) zero yearly repair costs made it all worthwhile.
Strangely I’ve been through several of those repairs. Ahh, if I could only go back in time and just replace the thing. Technically I’ve got a nearly rebuilt original unit which just isn’t very efficient.
I still have my furnace with issues. It runs but sounds like it’s a jet engine warming up when it kicks on (it’s a gas furnace.) I’m assuming a motor involved is about to die. At this rate I’m not looking forward to winter.
But in any case, having a new unit wouldn’t guarantee I would be without issues, still. I’d probably be cooler in the summer and saving a few bucks though.
I just replaced the entire heat pump system in my townhouse. The fan motor broke down last month ($448) so I started getting estimates for replacement since the unit was over 20 years old. I went looking for a 14 SEER, 2.5 ton system (all electric) and all the estimates came back between $5900 and $6100. Ultimately the thing that made my choice was the place that did the original repair knocked off the cost of that fan repair, putting them almost $600 ahead of everyone else.
The day before he came to install the new Trane system, the compressor on the outside unit died. Really glad I deiced to go ahead with the replacement! That makes the HVAC system, the Roof and my phone that have all died and needed to be replaced this summer. Wheeeeee!
Man, very sorry to hear that. When it rains it pours, for sure. But how is that new Trane running? I’m betting a lot better than your older unit in cooling capacity?
Yeah it was the raining and pouring thing that dialed me in on the roof needing to be replaced!
But the Trane is running great so far. It’s a half ton larger (and two decades newer lol) than the old unit so its been cooling the house much quicker than the old one. My townhouse faces the sun all day, so the front heats up quite a bit and the old unit would struggle to keep the kitchen and master bedroom as cool as the rest of the house. The new unit has been much better at keeping the temps even across all sides and levels. I was told by the tech that it should run more often but not as long as the old unit and he was right on the money.
I’m looking forward to seeing how it does this winter and of course seeing what it does to my electric consumption. Everything I’ve read says I should see a $20-$30 difference on my electric bill.
I have the same issue but it affects my office/gaming room and living room where we watch TV. I also have a bit of a zone issue because it is all one system currently and the downstairs (with the thermostat) is cool long before the upstairs is. I plan to address all that at replacement time.
Glad to hear the Trane runs well. My last company I worked for owns that brand and I can still leverage for a slight discount if needed (hopefully.)
Is your ductwork suitable for zoning? Our late 60’s house has a typical late 60’s jumble of ducts, some of which supply both up and down stairs. Guess you (we) coud go with “smart registers” but that seems to be quite pricey.
Installers are working on our Trane S9V2 furnace right now. We’ll see over the next year how much we save. The DC blower motors are supposed to be vastly more efficient than the old one, so there should be savings in the summer in addition to the higher efficiency on the heating end.
Oh shit. I have no clue? I hope to god they don’t need to redo the ducts. Some are in incredibly inaccessible areas. The guy I’ve had here the most to work on things said I really should have a slit-zone, and that it would take up a tiny bit more room in the attic space where my HVAC indoor unit is. The ducting, though, runs in crawlspace that I wouldn’t wish upon anyone, with very little gap space. It’s mostly ceiling ducting.
