Boilers on finance – Are you are looking to get a new boiler installed, but you are not sure how to afford it?
There are options available so this doesn’t have to be a concern.
For many of us in 2020, purchasing a new boiler specifically on finance is one of the only ways available to source a boiler replacement. Whether it’s because your boiler has suddenly broken down out of nowhere, or you’re looking ahead to make your payments more manageable, taking this option is often the most flexible route.
On top of this, because you’re not paying for the product in advance, it opens up a lot of other options for you in terms of which boilers are available to you. Where you might normally only be able to afford the cheapest boiler on the market if you’re paying for it all upfront, you can now consider some of the higher end brands.
The leading brands such as Ariston & Viessman Boilers give you the chance to save a lot more on your energy bills over the course of the boiler’s lifespan, and they normally come with a longer extended warranty.
In this article, we’re going to break down some of the key reasons why getting a boiler on finance may be the best option for you.
As well as this, you’ll find examples of some of the best manufacturers and boilers in the industry, giving you a great chance to save on any future spending!
Why should I get a boiler on finance?
When customers are unable to afford a new boiler, it can feel like there aren’t many options left. This is especially true if you’re unable to get a free boiler grant as well.
So why could paying for a boiler on finance be the best option?
You’ll need to work closely with a boiler installation company with the correct licenses or external contract with a finance provider, to have it arranged. Your boiler will need to be installed by people who know the product and service better than anyone, and who understand various difficulties that finances bring to the table.
Not only this, but any financial payment arrangement would also meet the guidelines stated in the Consumer Credit Act of 1974 (revised in 2006). Long story short, the installer company you choose along with the credit company would be liable for any breaches in the contract (Not that you can expect this).
The Consumer Credit Act
This Consumer Credit Act is the law that gives consumers protection from purchases and sets out how credit should be marketed and managed. It controls the lending process and protects consumers from entering into such agreements. To qualify, boiler installation contracts must typically cost between £100 and £30,000, and with such a wide range, this is possible for practically every instance.
Because of these details, boiler installation companies must carry out the installation process to the best standards in the industry. There’s no room for sub-par work here where they take your money at the start and then disappear – that’s where things go wrong. If you’re paying for your boiler on finance, both parties are in it for the long run, and will, therefore, want to give you the best possible service.
Your installation company will not be paid by the finance company until the installation has been completed and a customer satisfaction form signed/completed by you.
This is also the case for aftercare – with finance options available, you can be reassured your installation company will be there for maintenance/customer service queries throughout the boiler’s lifespan in accordance with the agreed warranty as well – another load off your mind!
There are a lot of reasons why you might want to replace your boiler and pick a finance option suitable for you. Whether it’s your financial situation, your old, non-condensing boiler has finally decided to kick the bucket, or you are looking for full central heating installation, we’ve got you covered.
Why you might need to replace your old boiler
Replacing your old or broken boiler is never really an easy decision to make, but there are going to be common reasons for most people for why you’d be making this decision. By choosing a modern, condensing boiler that comes equipped with the resources to allow massive savings, you could be better off than you ever were before.
Reasons why you would need to replace your boiler
Some common issues/problems include:
- Problems with pressure because of faulty parts
- A leak somewhere in your central heating system or the boiler itself
- The boiler isn’t receiving power and won’t turn on (keeps locking out)
- The pilot light keeps going on (if it’s non-condensing)
- Constantly changing parts on the boiler, which is proving costly to be repaired
- Your central heating system is dated and becoming temperamental
These are some of the more common issues/problems that affect boilers, but it’s important to recognise why they can happen. They typically occur as a result of either a poor installation carried out by a sub-par company, or that your boiler has been struggling for a long time anyway, and has finally packed it in. It can also be that the heating system is dated, heavily sludged, and requires an upgrade.
If it’s a non-condensing boiler, you can also put it down to the fact that your boiler isn’t working as well because of heat loss via the flue. The older the boiler, parts like the internal heat exchanger can lose their efficiency over time, so it’s simply not doing the job it was supposed to be doing anymore.
While we’re on the subject, it’s not uncommon that your energy bills eventually will start to rise. This can often be a good indication of your boiler’s age, as it struggles to keep up with energy demands. Efficiency can deteriorate, and if your boiler is more than 15 years old, it’ll be non-condensing.
What is a condensing boiler?
For a number of years, condensing boilers have become the standard in the industry. As mentioned, if your boiler is non-condensing, it will lose some of the heat because of hot gases coming out of the flue.
A condensing boiler works by retaining some of this heat before it escapes, repurposing it so it can preheat the cold water entering the boiler and water that gets circulated around your central heating system. The nature of how this heat is recycled means it actually needs less from the burner. Because of this, efficiency levels are greatly improved.
Easy to see why all modern boilers are like this!
The good news is that in today’s industry, if you’re looking to replace your boiler, you’ll definitely be getting a condensing boiler installed, along with all the efficient, money-saving benefits!
Should I get my boiler repaired or fully replaced?
It goes without saying – buying a boiler outright isn’t necessarily cheap. Even if you do intend to have one installed via finance, it’s a decision that should be taken seriously.
With many manufacturers, improving the efficiency of their boilers is often a top priority. It’s something that should last customers between 10 -15 years.
With this considered, it can often be more costly to resort to frequent repairs during the boiler’s lifespan. With more and more issues potentially creeping up on you, you might start to notice that in the long run, an entire boiler replacement is actually the cheaper option.
Don’t forget – according to the Energy Saving Trust, you could be looking at efficiency improvement levels of around 40% if you replace your old boiler with an A-rated combi boiler.
Efficiency levels of old boilers drop at surprising rates, so it’s important to nip it in the bud before it gets worse for you!
How to choose an installer for your new boiler on finance
So you have made the decision to get a boiler on finance? What’s next?
The next step is to decide on an installer who can carry out this work for you.
Regardless of who you choose to get your new boiler on finance, it’s thankfully quite an easy process these days. Most installers will be able to give you a quick and easy quote online, with the finance options available with payback amount, saving you time and effort. Following a brief discussion, some companies may even be able to provide you with a more detailed quote so that you know EXACTLY what you’re paying for, an approximate date for install and finance approval as soon as possible.
Most professional installers should also be able to schedule the installation of your new boiler either on or within a couple of days of your desired date. While this would, of course, be subject to availability in most cases, it means you have a lot more freedom to arrange your workload or childcare, for when you are actually needed in the property for the installation.
Key points for choosing a boiler installer
A good boiler installation company is one that listens to the customer’s needs to deliver a product and service that’s right for them. Some key factors should be considered:
- Extended warranties – Having peace of mind from knowing your boiler is well taken care of is vital.
- Years of experience – Look up reviews, and read their content online. Do they sound like they know what they’re doing? It’s probably because they’ve been doing it for a long time.
- Installations – Look at photos of their installations, key things to look at is their workmanship quality i.e pipework and tidiness
- Finance – What are their finance options available, along with APR % percentage.
- Gas Safe/OFTEC Registration – While this is an absolute requirement for installing, a company proud to show it’s accolades is one that knows value is professionalism and a job taken seriously.
- Manufacture approval – See if the installer is approved with boiler manufacturers, a reputable installation company that is Viessmann, Valiant, Worcester, Ariston, Ideal, or Baxi approved, will have a premise in the heating industry. They will have good customer service, be up to date on manufacturer training, very knowledgeable and will take the time to assist you and offer the best advice.