@illustrator24 That’s a great tip. I admit, when I got my windows, I was so focused on the 0% financing that I didn't even try to negotiate the price itself. In hindsight, maybe I could have gotten a bit off the total if I'd been open to not using their financing. But at least it worked out well for me as is.
I definitely second the point about marking your calendar for payoff if you do a promo deal. I was paranoid about that, so I actually set a reminder 2 months before the deadline to make a big payment, and then again a final reminder a month before. Ended up finishing payments early, which was a relief.
Also, to add, when they ran my application for the 0% financing, the lender approved me for up to a certain amount (I think it was $10k). My project was $9k, so all good. But if someone had a project cost above what the financing company approves, they'd have to cover the difference out of pocket or through another means. So if, say, you need $20k but the financing offer caps at $15k for your credit profile, plan for that gap. Most folks with good credit won't have an issue, but it's something to be aware of.
At the end of the day, whether you negotiate a discount and use a bank loan or stick with a promo deal, as long as you’re comfortable with the payment plan, you're doing it right. The end goal is new windows and a manageable way to pay for them. 🙂
Appreciate the insights @history_gandalf. I might reconsider PACE if other options fall through, but it's good to hear a real example of it working out. The idea of paying through property taxes is interesting; it's almost like an invisible loan until you see your tax bill 😅.
@patricia_peak, given that you might move in 10 years, I'd lean away from PACE in your case. A normal loan that you can pay off or take with you (since you pay it off when you sell anyway) is simpler.
On impact vs non
@history_gandalf Thanks for sharing your PACE experience. It’s good to know how it worked out for someone. I'm still on the fence about it for my own needs. Like you said, it's great for accessibility but has some trade-offs.
@patricia_peak, given that you might sell in 10 years, I agree with your thinking to probably avoid PACE. A regular loan or HELOC that you can clear before selling (or pay off at sale) is more straightforward.
The impact vs non-impact decision is one I struggled with too. I ended up with non-impact + shutters solely because of cost at the time. I financed through a personal loan and I wanted to keep the loan smaller. But every time a storm comes, I wonder if I should have spent the extra. If you can make the impact windows work with financing, I'd say go for it. Many of my neighbors have gradually been upgrading to impact windows in our 90s-built neighborhood after the last big hurricane scare.
On a different note, someone mentioned timeline and that's so true – if you sign now, it could be a couple of months before installation. So if hurricane season is a concern this year, moving sooner rather than later on ordering is wise.
@patricia_peak One more thing regarding financing vs paying in cash: if you do end up financing, I recommend not maxing yourself out. Leave some emergency fund aside. Windows are important but unexpected costs happen (even during installation, what if they find structural damage or something - hopefully not in a 20-year-old home, but just in general). So, I opted to finance more of it even though I had some cash, just to keep some reserves. Some folks will say if you have savings then just spend it and avoid a loan, but I like having a cushion and paying a bit of interest was worth the peace of mind for me. It's a personal choice, of course.
Also, since it came up earlier: the My Safe Florida Home grant that @lpaws72 mentioned - definitely check if they are still taking new applications. These programs can open and close depending on funding. If it’s open, it’s a great opportunity for essentially free money if you do the work (like impact windows). It paired well with my PACE financing for me.
@patricia_peak The quotes you have seem reasonable. We had 15 windows (mostly standard sizes) and paid around $16k with ProTech Windoors, that was for mid-range impact windows. So your 12 for $12k-$18k range depending on options sounds in line.
Regarding negotiating: we did try to negotiate as well. We didn't get much off the price, but they threw in an upgrade to laminated glass on the bathroom window for free (small perk). Some companies are firmer on prices than others. It never hurts to ask if there's a seasonal discount or any ongoing promotions. Just be polite about it.
And don't forget to ask about timeline too. We went with the 5-year financing because it was comfortable, but we plan to pay it in 3 if possible. ProTech's financing partner didn't have prepayment penalties, which was important to me to confirm. Make sure whatever financing you choose, you get in writing that there's no penalty for paying it off early (most personal loans and such are fine, but some special financing might have conditions).
I'm late to this thread, but I'll share: We did our windows last summer. Our home was 18 years old at the time. We actually went with a smaller local contractor that didn't offer any financing. So what we did was take out a personal loan from LightStream (online lender) for $10k at 5.5% over 5 years. It was all done online, super easy. We chose LightStream because they had a 'home improvement loan' with no fees and a slightly better rate if you have good credit. Just another avenue if you want to shop around beyond local banks. We then paid the contractor in cash (well, check). We didn't mind not going through the contractor for financing. In fact, sometimes the independent guys have lower quotes but you have to arrange your own payment method. So you can mix and match best contractor + separate financing source. It's a bit more legwork but can save money.
Lots of solid advice here. Just to add, I found that some local institutions have special loans for energy efficiency. I'm a member of Tampa Bay Federal Credit Union, and they had a program for home energy improvements (which included things like windows, insulation, solar, etc.) The rate was slightly better than their regular personal loan rates. It wasn’t a huge difference, but every bit helps.
I used that to finance new windows in a rental property I own in Tampa. It was about $8,000 for a few windows and a sliding door. I got a 3-year loan at around 5% through that program, with minimal fuss.
Also, check if any utilities or local government initiatives are in play. Sometimes there are rebates for Energy Star windows. I think TECO (our electric utility) in the past had some rebate for window upgrades, though it might have been discontinued – these things change often. But worth a quick look.
And I echo others: if you're a veteran or senior, sometimes there are additional programs or discounts out there. A neighbor of mine, who is a veteran, got a small discount from a window company just for his service (a nice gesture, like 5% off). So it never hurts to ask.
Just a friendly caution on HELOCs (speaking from experience): Remember that a HELOC is tied to your house. If, for any reason, you couldn't make payments, it could put your home at risk (worst-case scenario). Not that replacing windows should push anyone into default, but I always remind people to borrow responsibly.
Also, HELOC rates can change. Mine was 4% when I first got it and, as @shadow_ghost mentioned, now it's closer to 7-8% due to rate increases. I was okay with that since I treated it as a short-term solution and paid it down quickly. But if someone took out a large HELOC expecting to pay it off slowly, they might have seen their payments go up as rates rose.
One nice thing about a HELOC is you can pay it off and then reuse it if needed (it remains available during the draw period). Not that you'd need to reuse it for windows again, but it's kind of like a safety net for other needs once it's open.
In summary: HELOCs are great tools if used wisely (and they worked well for a lot of us here), just respect the fact that it's your house on the line and keep an eye on the interest rate changes.
I want to chime in on the contractor side of things. It sounds like you've narrowed down to Karoly Windows and ProTech Windoors, which is great because both have strong reputations in our area. My sister used Karoly Windows for her home in Palm Harbor. She paid cash, so I can't speak to their financing, but she was very happy with the workmanship and service. The fact that they offered financing options was a nice safety net for her, though she ended up not needing it.
From what she said, the Karoly team was very transparent, and they even helped her compare different window brands and options. That kind of customer service is invaluable, especially for a big investment like this.
My neighbor went with ProTech Windoors and also had a good outcome. So honestly, you're in good hands with either choice.
As far as financing goes, since these companies are established, you won't have to worry about any fly-by-night nonsense. They'll guide you through the process, whether you go with their financing or bring your own. One thing I recall: my sister mentioned Karoly required a deposit (I think 10% or so) when signing the contract, which is standard. She just put that on a credit card. If you were financing the whole thing through a lender, that deposit might come from your own funds initially and then you could reimburse yourself when the loan funds come in. Just something to plan for.
Overall, picking a reputable installer is half the battle won (the other half being figuring out how to pay, which you're tackling here). Sounds like you're doing both right.
A small detail to clarify with whichever financing you use: when do payments start? With some of these loans, the first payment might be due a month after the loan is funded. If your project has a waiting period (windows often take several weeks to be made and delivered), you could end up making a payment before the windows are even installed.
In my case, I used a 12-month no-interest plan through the contractor. They arranged it so that the first payment wasn't due until after installation was completed. Essentially, the lender didn't consider the loan "active" until the project was done and signed off. That was great, because I didn’t have to pay while waiting for the windows to arrive.
However, I've heard of other cases (especially with bank loans or credit cards) where you start accruing interest or payments immediately. For example, if you take a personal loan today, you'll likely start owing interest from today, even if your windows aren't in for 2 months.
It’s not a huge deal in the grand scheme, but it helps to know. If you have to start paying your loan before the work is done, just factor it into your budget (you might overlap paying the loan and your old higher electric bills for a short while, etc.).
I just appreciated that my contractor’s financing had that built-in delay. It might be something to ask: "When is the first payment due?"