Air Conditioning Financing: Bad Credit Options Listed

Short Answer: You can finance an air conditioner unit through a store credit card, a rent-to-own contract, or a personal loan — even if you have bad credit. All three options allow you to secure an air conditioner for your home or office right away and make payments over several weeks or months. For the list of companies that offer AC unit financing, see below.

AC Unit Financing Options

Air conditioner window units and portable air conditioners are available at most major retail, home improvement, and appliance stores. They typically range in price from about $130 to $500 for window units and from $200 to $600 for portable units. To finance a large purchase like an AC unit, you might need to consider using a store credit card, applying for a rent-to-own program, or taking out a personal loan. We’ve compiled the list of places that offer air conditioner financing by loan type, including details for those with bad credit.

Store Credit Cards

Many national retail and home improvement stores offer their own store credit cards that can be used to purchase big-ticket items like air conditioners. Store credit cards often have special interest-free promotions if you pay off the card within a specified time period (typically six months). But, keep in mind, store credit cards usually come with high interest rates. And, if you don’t pay off your purchase amount within the interest-free time period, back interest is often collected from the date of purchase.

During our research, we could not find a national brand store credit card that does not require a credit check, so if you’re still working on building your credit or generally want to avoid a credit inquiry, you might want to look into some of the other financing options included in this article.

Best Buy

  • Type of financing: My Best Buy Credit Card
  • Credit limit: Varies based on your credit check
  • Type of credit inquiry: “Soft” credit check
  • Interest rate: Varies; purchases over $199 may qualify for six months of interest-free financing
  • Payment requirements: Minimum monthly payments; late fees and interest may occur
  • How to apply: Apply for a My Best Buy Credit Card online or in person at a Best Buy store
  • Source: Best Buy customer service representatives; My Best Buy Credit Card Terms and Conditions

The Home Depot

  • Type of financing: The Home Depot Consumer Credit Card
  • Credit limit: Varies based on your credit check
  • Type of credit inquiry: “Hard” credit check
  • Interest rate: Varies; six months of interest-free financing available on purchases over $299 (must pay off account balance within six months)
  • Payment requirements: Minimum monthly payments; late fees and interest may occur
  • How to apply: Apply for a Home Depot Consumer Credit Card online, in person at a Home Depot Store, or over the phone by calling (800) HOMEDEPOT
  • Source: Home Depot customer service representatives; The Home Depot website
  • For more information, see our article on Home Depot and Lowe’s credit cards.

Lowe’s

Target

  • Type of financing: Target REDcard Credit Card
  • Credit limit: Varies based on your credit check
  • Type of credit inquiry: Hard credit check
  • Interest rate: Varies; active military can receive a lower interest rate
  • Payment requirements: Minimum monthly payments; late fees and interest may occur
  • How to apply: Apply for a Target REDcard Credit Card online or in person at a Target store
  • Source: Target REDcard customer service representatives

Walmart

Rent-to-Own

Rent-to-own, sometimes also called lease-to-own, is a popular option for those with little or bad credit. Some retailers require a credit check, but good credit is not typically required. With rent-to-own, you get to take the air conditioner home right away or have it shipped to you. You will make weekly or monthly payments until the contract amount is paid off. Once your balance is paid in full, you will own the AC unit.

Many stores that offer rent-to-own have special promotions like “90 days same as cash,” which allows you to pay off your air conditioner within 90 days and pay only the sale price plus tax. If you aren’t able to pay it off within 90 days, you will be subject to interest charges.

Aaron’s

  • Requirements:
    • Must be at least 18 years old
    • Provide proof of a residence in the U.S.
    • Provide proof of income
    • A valid photo I.D.
    • Three personal references
  • Credit check required? Yes, a soft credit check will be performed
  • Interest and fees: No interest but fees vary by item
  • Payment requirements: Monthly payments; some Aaron’s locations offer 90 or 120 days same as cash
  • How to apply: Apply for Aaron’s rent-to-own online or in person at an Aaron’s store
  • Source: Aaron’s customer service representatives; Aaron’s website
  • For more information, see our article where we compare Aaron’s and Rent-A-Center.

Buddy’s Home Furnishings

  • Requirements:
    • Must be at least 18 years old
    • Provide proof of a residence
    • Provide proof of income
    • Four personal references
  • Credit check required? No
  • Interest and fees: No interest if paid off within the six-month period, otherwise additional fees may apply; fees vary by product
  • Payment requirements: Weekly, biweekly, or monthly; Buddy’s Home Furnishings stores offer six months same as cash
  • How to apply: Apply for Buddy’s Home Furnishings rent-to-own online or in person at a Buddy’s Home Furnishings store
  • Source: Buddy’s Home Furnishings customer service representatives; Buddy’s Home Furnishings website

ColorTyme

  • Requirements:
    • Must be at least 18 years old
    • Provide proof of a residence
    • Provide proof of income
    • Two personal references
  • Credit check required? No
  • Interest and fees: No interest but late fees and collection fees may apply
  • Payment requirements: Weekly, biweekly, or monthly; some ColorTyme locations offer six months same as cash
  • How to apply: Apply for ColorTyme rent-to-own online or in person at a ColorTyme store
  • Source: ColorTyme customer service representatives; ColorTyme website

FlexShopper

  • Requirements:
    • Must be at least 18 years old (19 in Alabama and Nebraska and 21 in Mississippi)
    • Must have a steady source of income
    • Must be a U.S. resident
    • Must have an active bank account that has been open for at least 90 days
  • Credit check required? Yes; credit checks are performed by Factor Trust and/or Clarity Services and are not reported to any of the three major credit reporting bureaus
  • Interest and fees: No interest but leasing fees vary
  • Payment requirements: Weekly, biweekly, or monthly; FlexShopper offers 90 days same as cash
  • How to apply: Apply for FlexShopper lease-to-own online
  • Source: FlexShopper customer service representatives; FlexShopper FAQs; FlexShopper: How It Works
  • For more information, see our article on sites similar to FlexShopper.

Rent-A-Center

  • Requirements:
    • Must be at least 18 years old
    • Provide proof of a residence
    • Provide proof of income
    • A valid photo I.D.
    • Two personal references
  • Credit check required? No
  • Interest and fees: Varies by item
  • Payment requirements: Weekly, biweekly, semi-monthly, or monthly; some Rent-A-Center stores offer six months same as cash
  • How to apply: Rent-A-Center does not have air conditioners online; however, some store locations have them in stock for rent-to-own. Contact your nearest Rent-A-Center to check availability before shopping and applying in person.
  • Source: Rent-A-Center customer service representatives; Rent-A-Center FAQs
  • For more information, see our article on stores similar to Rent-A-Center.

Personal Loans

With a personal loan, you can purchase an air conditioner from anywhere you choose. Be aware that most banks will not issue personal loans to anyone with bad credit and, often, places that do will charge high interest rates and fees. Like store credit cards, a personal loan may not be the best option for you if you’re working on building your credit, as taking out a loan can damage your credit score if you default on the loan.

For the list of places that offer personal loans to those with bad credit, see our articles:

In Summary

You can finance an air conditioner unit through a store credit card, a rent-to-own contract, or a personal loan — even if you have bad credit. National big-box stores like Best Buy and Walmart offer store credit cards that you can use to buy an AC unit. Rent-to-own programs at ColorTyme and Rent-A-Center are available without a credit check. And, personal loans cater to those looking for a same-day loan or even loans for veterans. With one of these three options, you can finance an AC unit and take it home or have it delivered right away.

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