Should I finance my solar system?
Well, that totally depends the size of your system and how much cash you can afford!
For standard residential solar systems if you can afford it, paying cash will be the best way to install the system. As everybody says, cash is the king and, in most cases, when you pay cash, you get the best bargain. Furthermore, cash is hassle free.
Just make sure you don’t pay the full amount upfront, so the solar retailer doesn’t have any excuses when things hit the fan. We will only charge 10% as a deposit when signing the contract. We will charge the final payment once our customer verifies that they have witnessed that all correct materials have been delivered and is ready to be installed.
Remember, when you pay cash, you most likely will be using money from your home loan or offset account, this could potentially cost you 4% on your interest rate (approx…)
If, however you can’t afford to spend cash, or would rather finance your system, there are always several great financing options that are available to you. But be wary, don’t fall into the trap of ‘No Interest Ever’ as it can be a dangerous, costly outcome. Because for a business to offer no interest, they must cover their losses by raising their initial retail prices. Remember there is no free lunch.
At Sunrays Power, we have great lenders who offer low interest rates with no upfront deposit. They work with you and us to make your financing process as easy and stress free as it should be. It’s important to know, for most households (if chosen carefully) the financial repayments of the solar system can be lower than the amount you could save through the solar system. As such, financing the system can work best for you.
But no matter what, we don’t recommend for you to go for a cheaper and inferior product if you are short of money.
Please decide wisely, as the system you decide to install will affect your future return on investment, your system’s overall life, and the safety of your property
To find out more about our financing options, contact us for our honest opinions and let us provide you clearer numbers on how financing your solar power system will work with us.
