A quick rewind: Why financing got started
Most of us have used some form of financing in our lives. After all, most people don’t go pay cash for a new home or a car.
Financing and installment plans are so common we don’t even think about what it was like before financing existed, or how the concept even caught on.
The idea of paying over time didn’t start with credit cards. It started with sewing machines.
In the mid-1800s, most Americans couldn’t drop several months’ wages on a single household purchase, and the Singer Sewing Machine Company noticed. Founded by Isaac Merritt Singer in 1851, the company sold a product that revolutionized home life—but at about $125 per machine (a huge sum then), few families could afford one outright.
So in 1856, Singer launched what’s considered the first large-scale, structured installment payment program in the United States. For just $5 down, customers could take a sewing machine home and pay the balance in small, monthly installments. Singer didn’t invent the idea of paying over time—some local wagon and furniture dealers already used informal payment plans—but Singer nationalized it. Their system was standardized, heavily advertised, and remarkably successful.
By the late 1800s, “easy terms” became a common phrase in American advertising. Furniture companies, catalog retailers like Sears, and household goods stores quickly followed Singer’s lead, realizing that installment selling wasn’t just good for buyers—it was good for business.
In many ways, the humble sewing machine helped sew financing into the fabric of American life.
When Henry Ford put financing in the fast lane
If Singer made installment buying respectable, the Ford Motor Company made it unstoppable.
When the Model T rolled off the line in 1908, Henry Ford believed in one thing above all: affordability through efficiency. But even at $850 (about $26,000 today), many working families couldn’t pay cash. At first, Ford resisted credit—he famously said, “If people can’t pay, they can’t have it.”
That didn’t last long. His competitors, especially General Motors, realized that financing cars could dramatically expand their customer base. So in 1919, GM launched General Motors Acceptance Corporation (GMAC), offering structured auto loans with monthly payments. Sales soared.
By 1924, more than three out of four cars in America were purchased on installment plans. The automobile—and consumer financing—had officially gone mainstream.
Ford eventually joined the movement, and car payments became part of everyday life. It’s no exaggeration to say that the American middle class was built on the ability to buy now and pay later—first sewing machines, then cars, then appliances, homes, and, today, major comfort systems like your air conditioner or water heater.
From cars to cards
A few decades after GMAC, financing took another leap. Diners Club launched the first modern charge card in 1950, followed by BankAmericard (now Visa) in 1958 and Master Charge (later Mastercard). “Pay monthly” had officially evolved into “pay when the bill comes.”
The Consumer Financial Protection Bureau (CFPB) reports that more than one in five consumers used a “Buy Now, Pay Later” (BNPL) option in 2022.
BNPL—short for “Buy Now, Pay Later”—is simply a modern version of old-school installment buying. Instead of paying the full price up front, you spread the cost over equal payments, often interest-free if you pay on time. It’s especially popular for larger home purchases because it smooths out expenses without adding interest.
Meanwhile, the Federal Reserve shows that total U.S. consumer credit (excluding mortgages) now exceeds $5 trillion, proof that financing has become part of how we manage everything—from cars to comfort systems.
The power of “interest-free”
Interest-free financing isn’t just a marketing buzzword—it’s the golden ticket that makes financing truly budget-friendly. Normally, when you finance a purchase, the lender charges interest as the cost of borrowing money. Over time, that interest can add hundreds (or even thousands) to the total cost.
But interest-free financing flips that script. For a set promotional period—like ServiceOne’s 12-month offer—you can spread payments out with no added cost as long as you stay current. The Consumer Financial Protection Bureau (CFPB) notes that these programs help consumers manage large purchases responsibly, provided they understand the terms and pay before the interest-free period ends.
Think of it as the perfect balance: immediate comfort and convenience without paying a penny more than you would have if you wrote a check today.
And in today’s high-interest environment, that’s no small thing. The average U.S. credit card rate hovers around 21%, according to Federal Reserve data—so skipping that interest is like giving yourself a built-in discount.
Why the trend matters for Orlando homeowners
Here in Central Florida, November weather is mild—but our comfort systems never really rest. Your AC runs nearly year-round, and when those cooler nights roll in, you count on a reliable heat source.
Unfortunately, breakdowns don’t wait for your budget to catch up. The average cost to replace an AC system in Florida runs between $9,000 and $12,000, while a new water heater installation can cost $1,200 to $4,400. That’s a big chunk of change when your system fails suddenly.
Financing helps turn that crisis into a manageable monthly payment—just like Singer and Ford discovered long ago. And when that financing is interest-free, it’s even smarter: you keep your cash flow steady without paying a dime in extra charges.
12 months, interest-free: how it helps right now
At ServiceOne Air Conditioning & Plumbing, we’re making comfort affordable again with 12 months of interest-free financing on new AC systems and water heaters (with approved credit).
Why it works so well:
You can replace your failing system before it quits completely.
Payments are spread evenly for a full year—no interest, no stress.
Upgrading often means lower energy bills, which helps offset your monthly payment.
And if you opt for a heat pump water heater, you could save around $600 per year on energy costs, according to ENERGY STAR.
Purchase a system now, and get EVEN more benefits:
Not only can you get a twelve-month, interest-free financing deal on a new air conditioning system or water heater, but if you purchase your system now and have it installed before 12-31-25, you may be eligible for up to $4000 in incentives, rebates, and tax credits on selected systems!
That’s a huge benefit, especially if you’re also getting interest-free financing!
A quick financing tip from the experts
The Consumer Financial Protection Bureau (CFPB) reminds consumers to understand the repayment terms and timeline. You can review their BNPL guidance for peace of mind—but the bottom line is simple: pay within the promotional period and you’ll enjoy truly interest-free financing.
Here in the greater Orlando area, local HVAC experts agree that delaying replacement or repair can cost more in the long run through higher energy bills and costly emergency breakdowns.
The bottom line
From Singer’s $5 sewing machine plans in 1856 to Ford’s assembly lines and GM’s car loans, America has always been built on the freedom to buy now and pay later. But interest-free financing takes that freedom one step further—it lets you make the smart move now without paying more later.
So if your AC or water heater is showing its age, don’t sweat it—or shiver through another Orlando “cold front.” Take advantage of ServiceOne’s 12-month, interest-free financing, and enjoy comfort now while paying over time.
Schedule your free estimate today or call us to learn more. Comfort now, payments later—it’s the most American upgrade you’ll ever make.