Buying A Boiler on Finance: Everything You Should Know

Buying a boiler can be an expensive affair, with some of the cheapest boilers starting at around £360. If paying for a boiler in one lump sum is something that you would struggle with or prefer not to do. There are companies that will allow you to purchase your boiler on finance. However, there are a few things that you should know before you purchase a boiler on finance.

Do I need to replace my boiler?

This is the first question that you should ask yourself as it may be a case of being able to fix your current boiler. While your boiler may be acting up you may not actually need to fully replace it. It is best to call out a gas safe engineer to check over your boiler, as it may be a case of just needing its annual service. If the engineer says that a full replacement is needed, then this is when you should start looking online.

Payments

When it comes to paying for your boiler through finance, companies will often ask for monthly payments, which is common for paying for anything on finance. Some may also ask for a deposit upfront as well however not all companies will. When it comes to how much you will be paying each month that will vary on what type of repayment plan you choose. It could be from as little as £15 to as much as £100. Another thing to keep in mind is by paying finance you will usually end up paying more in the end, so if you can pay the lump sum for a new boiler straight away it may be worth it in the end.

The deal 

When choosing your replacement from a company make sure that you fully read the deal before proceeding. Reading the details of deals is vital as it allows you to get an idea of what different companies can offer you. Some deals may have a better repayment rate while others may include a three-year warranty, and some may even include a free boiler service for a couple of years. All of these are important points to keep in mind. The more useful additions you can get with your boiler the better you will be in the long run.

What boiler to choose

When it comes to choosing your new boiler, it is best to start by checking what kind of boiler you have in your home. Most homes have either a combi, system or conventional boiler. Once you have found out what boiler type you have inside your home you can start shopping for a boiler brand. When looking for boiler brands you will want to look for reliable and well-reviewed brands. Once you have found this boiler you will then want to check if they offer credit and what the terms of their credit is.

How a new boiler could save you money

When it comes to a new boiler, you could be saving yourself money in the long run. This is due to modern boilers being a lot more energy efficient than their older counterparts. Older boilers can be rated as low as 60% efficiency, which means that you are losing up to 40% of all energy that is generated. When you compare this to modern boilers, which are often 90% efficiency or above, you will be saving a lot of energy with your new boiler. Saving this energy means that you will be saving money on your heating bills at the end of the month.

Following through this guide will give you tips on what you should know when you are looking at buying your new boiler on finance.