Money provides people with flexibility, it allows you to do what you want, when you want, but just as quickly as it can give you flexibility, it can take it away. That’s why when making a big purchase, small, long-term options can be very attractive.
For example, when choosing to purchase a home comfort system, many people opt-in to renting instead of outright purchasing. However, renting isn’t the only option and it’s certainly not the best. Delta Air Systems works in partnership with SNAP Home Finance to provide homeowners with the best, most affordable alternative financing.
Just looking at the estimated overall cost of renting vs. SNAP Finance, it’s easy to see the benefit:
Overall costs are obviously an advantage, but the convenience and low-risk agreement really set them apart. With a rental, you’re tied down to a long-term contract with heavy cancellation and equipment-purchase fees, which are subject to annual increase.
These contracts may appear to give your finances a break but by the end of the contract they can do more harm than good. On a typical 15-year rental agreement, your monthly payments could be 60% higher than what you paid in your first year. These increases are tough to swallow, and if you decide to move out of your home it could prove even tougher to find someone else to take on the contract.
SNAP Financing plans offer the same flexibility as renting, but with less cost and less risk. You receive a fully open contract with no fees or penalties for paying off early and once you have paid it off you actually own the equipment. Unlike renting where you will be asked to pay an additional fee or extend your contract. Your agreement with snap is also built on a five-year, fixed rate and it is renegotiated at the end of the five years. Also, if you find a better competitive rate just pay off the remaining principle balance and no penalties will apply.
Clearly SNAP is the most cost efficient, with better monthly-short term savings, added flexibility and a lower overall cost. There’s really no reason you should be renting a home comfort system.
Owning a system outright will increase the value of your home and provide you with more freedom. Make the right choice when planning for your next home comfort system by choosing to finance with SNAP.