Compare total cost, not just payment
A low monthly payment can hide a long term, dealer fee, deferred-interest clause, or high effective project price.
Common options
- Cash or staged savings
- Home equity loan or line of credit
- Unsecured personal loan
- Contractor-arranged financing
- Insurance proceeds plus deductible for covered losses
Questions to ask
What is the APR, total of payments, prepayment policy, contractor price with and without financing, and consequence of delayed insurance funds?
Next step: Use this guide to create a consistent set of questions before requesting or comparing contractor bids.