Financing a new system through Synchrony: terms + how it works

Why Synchrony

Synchrony Bank is the financing partner most major HVAC and home-services contractors work with. We chose them for three reasons:

• Same-day approval on most applications.
• Multiple term options from 12 to 84 months.
• Seasonal promotional offers from manufacturers and from Synchrony directly.

Standard terms

• Term options: 12, 24, 36, 60, and 84 months. Longer terms lower the monthly payment; shorter terms reduce total interest paid.
• Approval criteria: standard credit decision based on your application. Higher credit tiers get better promotional rates.
• Approval timing: usually within minutes online; sometimes same business day for borderline cases.
• Approval amount: typically up to [verify: $20,000-$50,000 depending on credit] which covers nearly every residential job we do.

Promotional offers (subject to availability)

These rotate by season and manufacturer. Typical offerings we see:

• No-interest if paid in full within [verify: 12, 18, or 24 months]. Standard interest accrues from purchase date if not paid in full by the promo end. Read the disclosure.
• Reduced-rate fixed APR over [verify: 60, 72, 84 months]. Predictable monthly payment, lower than retail rate.
• Special manufacturer promos on specific equipment lines (York, Lennox, certain water heaters).

What promo applies to your project depends on the timing, the equipment, and your approval tier. We tell you exactly what's available at quote time.

How the application works

1. Apply online or in person. We can run the application from a tablet during a sales visit, or send you a secure link to complete at your own pace.
2. Approval decision in minutes for most applications.
3. Sign the project contract referencing the approved Synchrony account.
4. Project completes; final invoice is charged to Synchrony.
5. First statement arrives ~30 days later with your payment details.

What you actually pay

Worked example for a typical $14,000 cold-climate heat pump project, illustrative only:

• Project cost: $14,000
• Less Focus on Energy rebate: [verify: -$500]
• Less utility rebate: [verify: -$300]
• Less federal 25C credit (claim at tax time): [verify: -$2,000]
• Net out-of-pocket: $11,200
• Financed at 84-month promo rate: ~[verify: $145-$185/month]

Things to know

• Pre-pay is always allowed. No prepayment penalty on the promo terms we offer. If your federal credit refund or a year-end bonus comes in, you can dump it onto the balance.
• Promo "deferred interest" terms have a clock. If the 0% promo is 18 months and you haven't paid the balance in full by month 18, interest accrues from the original purchase date. Set a reminder; plan to pay it off.
• Synchrony pulls a hard credit inquiry on the application. It will show on your credit report and can move your score by a few points temporarily.
• Co-applicants are allowed. If a single applicant doesn't qualify, a spouse or joint applicant can be added.

Action

• See current financing offers on our financing page.
• Get a quote and the financing application is part of the conversation.
• Stack the rebates first — the financed balance gets dramatically smaller after the incentive stack.