Our New Central Heat & Air Finance Program
For years, you, our customer, have asked us about financing central heat & air units. Beginning in 2015, Greater Dickson Gas Authority is now offering a central heat & air finance program. This program is designed to provide a more affordable way to pay for your new central heat & air system. Here is some general information about our financing program.
General finance terms of this agreement are:
- Maximum of $7,000.00 for a period not to exceed 5 years.
- Interest Rate to be determined by management with quarterly review of Federal Reserve Bank Prime Rate.
- The interest rate on a loan will be the rate set by management in effect at the time the loan is generated and will not change for that loan term.
- Any change in Interest Rate, determined by management, will affect new loans going forward.
- Our current rate is: 5.0%
How Do I Get Started?
- Customer calls his/her approved HVAC contractor to service their heating/cooling unit.
- The contractor advises the customer their unit is dead and is in need of replacing.
- The contractor will decide what size and type of unit is needed for the customer.
- The contractor will inform the customer of GDGA’s financing program.
- Contractor will provide customer with signed quote to be taken by the customer to GDGA’s office. This quote will be used in the process to determine if customer qualifies for financing services.
Approval / Authorization Process
Customer will need to supply Greater Dickson Gas Authority with a signed quote from a GDGA approved HVAC contactor to determine if they qualify for financing as follows:
- TN Property Data must be checked to verify ownership
(Name on account MUST match property records for UCC-1 Fixture Filing to be eligible for attachment to property to ensure GDGA is paid if property is sold.)
- Must be active customer of GDGA or pay the meter deposit to apply for service.
(If existing service is not available, customer will be responsible for cost of new service line)
- Customer’s account must have a Credit Rating of “Excellent, Good or Normal”.
- Customer has approved a Credit Inquiry thru OnLine Utility Exchange and the Inquiry returns Green Deposit Decision.
(If denied based on Online Utility Exchange results, the customer will be notified whether personally or by mail.)
- Upon approval for the program, customer will complete and sign contract for financing. Customer will be given a copy of contract showing approval for contractor to install unit.
Greater Dickson Gas Authority has no responsibility for the HVAC unit itself, its operation or its maintenance.
Contractor will need to obtain the appropriate permit, pass an inspection and mail the invoice directly to GDGA. The contractor will not be paid until the job has passed inspections and all paperwork is complete.
Click here to see a list of approved HVAC contractors