What You Need To Know About Your Solar Finance Options
There are two ways finance is packaged: with or without interest. We want you to be aware of one of the lesser-known (yet very expensive) pitfalls in the solar industry - interest-free finance providers. In the solar industry, interest-free marketing can be alluring, but there are hidden traps to be aware of. These include:
- Inflating the price of a system by $2K to $3K to balance out interest lost.
- If you default on an interest-free payment the rates are 20-25%.
- Monthly and management fees.
You might pay $700 - $900 in interest over the term of a regulated solar finance loan, but an unregulated interest-free loan can cost you upward of an extra $2,000.
To learn more, download our free eBook “6 Things You MUST Know About Choosing Your New Solar System Before You Buy” ~ https://go.rt-d.com/ecolectrical-ebook