If your current system uses R-22 refrigerant you should replace your system. Otherwise a compressor replacement could be a cost effective option to get you up and running.

If installed and maintained correctly a new system should last a minimum of 15-20 years without needing any major ac repair service.

To figure out which way the arrow on your filter should point, take a piece of tissue and while keeping a good hold on one end, insert the other end in your filter slot. If the tissue pulls down, your arrow should point down. If the tissue pulls up, then your arrow should point up.

Refrigerant never goes bad, so if anyone has ever had to charge your system after the install, then yes you have a leak. Leaks can be found and repaired if the technician has the experience and skill necessary, otherwise you end up paying to charge your system every year.

Hint: Jay's Heating and Air Conditioning specializes in finding leaks.