Central Air Conditioning Unit: Repair or Replace?
LESLIE: Kim in North Carolina, you’ve got The Money Pit. How can we help you today?
KIM: I’ve got a Trane air conditioner. The service rep came out – it has a leak – and he believes it’s in the coil.
TOM and LESLIE: OK.
KIM: And it’s 14 years old and I’m debating whether or not – the coil repair would probably be close to $1,000. I’m debating whether or not to just go ahead and replace it and upgrade or shall I fix the coil.
TOM: Well, if it’s a 14-year-old unit – I mean a Trane is an excellent piece of equipment but at 14 years, there’s always the chance that something else inside it could break after you replace the coil. So I would suggest, for that reason and the fact that you could qualify for a tax credit now of up to $1,500 if you make this replacement for the end of the year, that you upgrade to one of the higher-efficiency Trane units.
TOM: Because between now and the end of the year, if you do so you can get a $1,500 credit off of next year’s taxes.
TOM: So I think that’s the smart ticket.
KIM: Great. Thank you very much. I appreciate the advice. And there are actually two units. I think I’ll probably just go ahead and replace both.
TOM: Alright, makes sense. Kim, thanks so much for calling us at 888-MONEY-PIT.