The modern way to buy a boiler? Finance it
A brand new I-phone costs around £500, a brand new car costs on average £10,000 upwards, a brand new boiler costs around £2000.
A phone and a car are bought via finance without thinking about it, so why would we not buy a boiler on finance?
In this blog we are looking at how Boiler Plan is revolutionizing the way in which we buy our new boiler for our homes.
Why Finance it?
In the past high interest rates have been a major deterrent when looking to finance your new boiler, with the expensive monthly repayments making it un-attractive for many.
However as new firms enter the market there has been a fall in interest rates charged by some boiler companies, allowing customers the opportunity for low cost borrowing to finance their new boiler.
The effects of this have been seen with the number of boilers getting sold on finance increasing 16% between 2013-2014.
For many people if you can keep a few thousand pounds in the bank, then you do all you can to do so.
How do you finance it?
The easiest way to finance your boiler is normally to deal with the boiler companies who offer finance schemes.
Boiler PlanUK is the only business in the UK that specialises in boiler’s on finance, offering the market leading interest rate of 9.9%APR. Which is fixed throughout your plan.
You have the option to pay for your boiler over 3, 5, 7 and 10 years, with the ability to pay off the boiler at any time without any extra charges. So for many it allows you to slowly pay for your boiler rather than paying one lump sum.
The Finance Costs
The overall cost of the boiler installation averages around the £2000 mark with small fluctuations depending on the customer’s previous boiler system.
The monthly costs come out at £34.95 over 7 years, with Boiler Plan including full boiler cover for 7 or 10 years.
Boiler cover is often charged at around £20 per month, so customers of Boiler Plan are in effect paying £14.95 for a new boiler with stat, TRV’s, filter, flush and cover.
Boiler Plan offers a range of boilers, Ideal, Worcester Bosch, Baxi and Valliant, giving the customer the choice if they have a certain preference on manufacture.
Boiler Plan is giving the chance for customers to enjoy the benefits of having a new boiler without having to fork out £2000 in one go, the costs are spread over a monthly period just like your phone bill, the only difference being that you can buy out of your Boiler Plan contract at any time, for no extra cost.
Currently Boiler Plan is offering £100 cash back when you sign up before March 8th.
What the customers think
I feel the best way to understand a business is to hear what the customers who have gone through the experience think about it. Any business will obviously be biased towards them, so below is some of the feedback received.