Going solar is perhaps one of the most responsible and satisfying investments many people make in their lifetimes. It’s eco-friendly and financially prudent at the same time – benefits that’ll keep giving for a long time. However, despite the many sizable financial incentives required for such a project, an upfront cash investment may not seem attractive to everyone. So, how do you enjoy the benefits of solar without trading off your short-term financial security?
The answer is – solar loans.
Solar loans transform a one-time, lump-sum investment into a series of easy-to-manage payments that’ll have little impact on your overall financial situation. Still, many financers require you to pay a down payment, usually ranging from 10% to 25% of the total worth of your solar power system. If you don’t wish to foot the bill on the down payment, there’s some good news – $0 down solar loans.
$0 down solar loans are precisely what they sound like. They don’t require you to pay any down payment; not even a single dollar. Here’s how you can get them.
Many Solar Companies Offer $0 Down Solar Loans in Durham, CT
Several solar companies operating in the Durham, CT region, including Green Power Energy, offer $0 down solar loans to customers. Of course, you need to have a strong credit score to qualify for such loans. If you do have a good credit score, the benefit is enormous. You can walk home with a full-fledged home solar solution without paying a cent today!
So, when you visit your solar installers, ask them to perform a soft credit check and tell you beforehand whether you qualify for a $0 down solar loan, and, if you do, what loan terms you can get. A soft credit check won’t affect your credit score, unlike the regular credit score checks.
Check Out the Offer Details Thoroughly
$0 down solar loans are a more recent innovation from the solar industry. They’re designed to make the path to owning a home solar solution virtually pain-free for homeowners. However, not all solar companies play fair. Some businesses indulge in misrepresentation or hold crucial facts from the customers, such as prohibitively high-interest rates baked into their financing solutions.
So, it’s always a good idea to thoroughly read the T&Cs of the financing product, and ask the right questions. Be 100% clear on the interest rates, loan processing fees, early payment penalties, and other hidden costs that are part and parcel of financing.