Cheap Furnaces – 6 Tips for Getting the Best Deal

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It can be a challenge finding a cheap furnace that offers good quality and high-efficiency operation at an affordable price.

Here are 6 tips for Canadians on how to get a good deal on a new forced-air furnace for your home.

Furthermore, dealing with a trusted and reputable contractor will help you save in the long run by getting quality installation and good labour warranty.

Introduction: Navigating the Market for Affordable Heating Solutions

You can’t survive winter in Canada without home heating, but that doesn’t mean every homeowner has thousands of dollars available to spend on a new furnace when it’s time for an upgrade.

Luckily, it is possible to get an affordable furnace that meets your home’s heating needs.

One of the tricks is to get quotes from multiple local HVAC contractors. You can shop around for furnace prices on your own to get an idea of what you might pay, but when it comes time to install, you should hire a trained, licensed HVAC contractor to get the job done right.

Along with shopping around, you can also look for other ways to save, including rebates, not buying during peak heating season, and getting a high-efficiency system that will save you more money over time.

Keep reading to get other great tips for finding a cheap furnace in Canada.

The Challenge of Finding Affordable Furnaces

Finding a cheap furnace can be tough, but the best place to start is with a licensed HVAC contractor. Don’t be afraid to get quotes from multiple companies.

However, if you live in a rural area without a lot of HVAC competition, prices might be higher compared to an urban area with lots of HVAC companies.

But no matter where you live, furnace prices have increased in recent years, and it’s not as easy to find a cheap furnace.

One reason for the increase is that most modern furnaces are far more efficient and advanced than older heating systems. Here are some examples of improvements that have impacted the cost:

• Superior materials
• Better-quality components
• Proprietary technologies and parts
• Higher efficiency ratings
• Blower motors and gas valves that can work in increments
• Longer and more comprehensive warranties

Furnace Prices and Factors Influencing the Cost

You can expect to pay between $4,000 to $6,500 for a new furnace in Canada, including installation. However, you could pay more or less depending on many factors, including:

• Furnace brand, make, and model
• Efficiency rating
• Furnace type (single-stage, two-stage, modulating, variable)
• Where you live
• Installation complications
• Size of your home
• Special features or technologies
• Add-ons (like a smart thermostat)

The cheapest furnaces will be single-stage models with efficiency ratings around 96%. They may only have basic warranty terms and likely won’t have any special features, like Wi-Fi connectivity.

6 Tips to Get a Good Deal on a New Forced-Air Furnace

1. Go for a High-Efficiency Furnace

Finding a cheap furnace is great, but you shouldn’t forgo quality and energy-efficiency just to save a few dollars – the cost, in the long run, will be higher. You should aim for efficiency ratings of at least 95% AFUE.

Older furnaces may often be “mid-efficiency” furnaces in the 80% range. Modern ENERGY STAR® models are much more efficient to operate and will keep your home more comfortable too.

A higher efficiency model might cost slightly more initially but can save you money in the long run, and may even qualify for government rebates.

2. Go for Natural Gas or Propane

Modern gas and propane furnaces are widely sold, making them a popular choice of heating system in Canada. In addition, they generally have the lowest ongoing operating costs.

If you live in a city or large residential area, natural gas is your best option. If you live in the countryside, go with propane.

If you live in a large city such as Toronto, your odds of finding a good deal are better as the competition among HVAC dealers is fiercer. 

Shop around and request a free quote from local distributors with the quick and simple form at the top of this page. Get quotes from at least three companies if you want to find the best deal on cheap furnaces for sale.

New natural gas furnaces will generally cost at least $4,000 including installation on the low end, and go up from there.

3. Consider Financing or Rent to Own

Another option to consider is financing for a cheap furnace, which may allow you to get a brand new system with no upfront costs, instead spreading the cost out with a simple monthly payment.

While this doesn’t make your furnace cheaper per se, it can make it more affordable by spreading out the cost with manageable monthly payments.

The application process is often simple and straightforward and can often be completed over the phone. Term length can vary from 12 months all the way up to 15 years, and the monthly payments vary accordingly so you can find something that fits your budget.

Rent to own programs are essentially a type of financing. The benefits include full-coverage on repairs, a flat monthly rate, and some companies offer guaranteed approval regardless of credit rating. See here for a full breakdown of the details, pricing, and pros & cons of renting. However these can also include onerous terms and tough to get out of contracts, so proceed with caution.

4. The Cheapest Option is Not Always the Best One

It’s a good idea to look for a good deal. Just remember that if something seems too good to be true, it probably is. Getting a really cheap furnace for under $3000 in most Canadian cities may seem like a steal.

Just make sure you do your research about the company. A hastily installed furnace is far likelier to break down or function incorrectly, leading to more headaches and expense in the long run.

READ: The Truth About Local HVAC Contractor Online Reviews

5. Brand Name Isn’t Everything

Remember that some companies spend a lot of money on marketing and this doesn’t necessarily mean their products are significantly better or more reliable than other brands.

While brands like Lennox and Carrier are popular and widely sold systems, you will certainly pay a premium for that brand name. And while their products may be generally solid, they certainly aren’t the most budget-friendly in most cases.

While these companies may have relatively cheap furnace options, compared to their higher end models, they will still tend to be costlier than other brands.

If you’re looking for something affordable, check out cheap furnace brands like Goodman, York, and KeepRite.

6. So What Do We Recommend?

A popular widely available brand such as Goodman offers a good balance of reasonable quality and affordability. While their products are basic, they usually get the job done and parts are widely available.

That being said, there are a number of other major brands that also have decent entry-level models that are more affordable than their top-of-the-line units, which are worth considering.

So there are options from Trane, Rheem, Amana, KeepRite, Napoleon and others that can be had for a good price.

The average cost of a new gas furnace is $4,000 to $6,500 including installation in most cities across Canada.

Financing and Rebate Options

Many HVAC companies offer financing plans, often through a third-party provider, that allow you to pay off the cost of a new furnace over the course of many years.

Because you’ll pay interest on the loan, you will end up paying more in the end. However, paying a couple hundred dollars every month is much more feasible than paying thousands up front for many homeowners.

What’s more, financing can give you an opportunity to get a better furnace—something with a higher efficiency rating, better features, and a longer warranty—rather than just a cheap furnace that suits your budget.

Another option that can make a new furnace more affordable is rebates. Rebates are sometimes available through the government, energy providers, HVAC manufacturers, HVAC companies, banks, and more.

Conclusion: Getting a Cheap Furnace That Meets Your Home’s Heating Needs

Finding money in the budget for a furnace isn’t always possible, but that doesn’t mean you want the cheapest furnace on the market. You still need a reliable heating system that will be affordable to operate, that comes with a good warranty, and that will meet the heating needs of your home effectively.

While getting a cheap furnace might not be as easy as it used to, there are still ways to save when you need to upgrade your heating system.

Look for rebates and financing that can make the purchase feasible. And you might be able to save by getting quotes from multiple companies, shopping in the off-season (spring/summer), opting for a more affordable brand, and getting a high-efficiency furnace that will save you money in the long run.

Start by requesting free quotes from our trusted local distributors in your area!

FAQ

What is the cheapest furnace to operate?

Natural gas furnaces tend to be the cheapest furnaces to operate compared to propane, electric, or oil furnaces. However, there are places in Canada without natural gas infrastructure, and the next cheapest alternative would be a propane furnace.

What is the cheapest gas furnace?

Furnace prices vary greatly based on many factors, but the cheapest gas furnace will be a small furnace (keep in mind a furnace must be sized properly for your house) with single-stage operation, without any technological add-ons or special features, with an AFUE around 95 to 96%, and from an economy brand like Goodman, York, or KeepRite.

How much is a small furnace?

The average cost of a new furnace in Canada starts around $4,000, including installation. But if you have a small space to heat and don’t need a large, powerful furnace, you might be able to get a cheap furnace for less than that.