Editor’s Note: The following remarks were made on The NEWS’group, The NEWS Network, on LinkedIn regarding the ability of customers to get financing for HVAC systems.

Lessons Learned in Financially Painful Times

The days of putting money away for a rainy day should be coming back. Seems to me Americans are financially cyclical due to the pain points of finance adjustment and forgetful of the financial pain points. There are many lessons to learn here especially as business owners of when money will be available and credit will be. Similar to the last recession that was not as severe, the cost for credit was very high, inflation came after that, then more financing became available at a lower rate. Based on this, Americans should have downsized and started saving and positioning for the rainy day (the ones listening anyway). [In] 2013, with home values going up, the comfort of putting cash into personal real estate is starting and so is inflation. The cost of debt is low and rising. Financial institutions are still sitting on real estate inventory, controlled by the Feds, who will ultimately control cash available for financing to the homeowner.

Joanna Turpin asked a question that is complex and is directed by Feds. Consumer spending for the holidays is expected to be very good, indicating the savings lesson is learned. Homeowners going back into debt or wanting to will opt for repair in 2013 regardless of ability, especially here in Arizona and in Florida for sure.

The answer is to secure the customer prior to replacement. There are a few ways to do this. When money and credit make sense, they will buy with confidence in you as the expert and friend who helped them through tough times.

William Palmer
The Profit Journey
Greater Los Angeles area

Rebates and Lending Options Are Out There

The availability of options from big box retail and the utilities (and to a limited extent state and local government) is huge. Figuring out where they are and the business rules as to how to take advantage is another matter. That’s why we created SaveBigBread.com. The industry needs greater transparency and coordinated marketing of rebates and lending options. The industry labors under unlimited options that no one has ever heard of.

Tony Maull
SaveBigBread, Virginia Joint Commission on Technology & Science
Washington, D.C., metro area

Publication date: 12/3/2012