Financing Options for Paving Projects
Quality paving is an investment in your property. If you need financing options, there are several ways to make your project affordable. Here are the most common financing solutions.
Contractor Payment Plans
Many reputable contractors offer flexible payment plans to help spread costs over time.
How It Works
- • Down payment (typically 30-50%)
- • Balance paid in installments
- • Interest rates vary by contractor
- • Terms typically 6-24 months
Important: Always get payment terms in writing. Verify contractor's financial stability before entering payment plans.
Home Equity Loans & HELOCs
Using home equity can provide low-interest financing for larger projects.
Home Equity Loan
- • Fixed interest rate
- • Fixed monthly payments
- • Lump sum disbursement
- • Interest may be tax-deductible
HELOC
- • Variable interest rate
- • Draw funds as needed
- • Flexible repayment
- • Interest may be tax-deductible
Personal Loans
Unsecured personal loans from banks or credit unions can finance paving projects.
Credit Cards
Credit cards can work for smaller projects, especially with promotional rates.
Consider: High interest rates (15-25% APR) make credit cards expensive for long-term financing. Best for projects you can pay off quickly or with 0% promotional rates.
Saving Strategy
Planning ahead and saving can help avoid financing costs entirely.
Budgeting Tips
- Get multiple quotes to compare costs
- Budget 10-15% extra for unexpected costs
- Consider long-term value, not just upfront cost
- Factor in maintenance costs over time
- Ask about discounts for cash payments
Discuss Financing Options
We're happy to discuss payment options and work with your budget. Quality paving is an investment worth making.
Call (716) 681-3600