New boiler advice

Surfing_spaniel

I'm usually pretty much on the ball with switching service providers & likewise but I've just discovered that I've been paying a small fortune for boiler insurance. I'm very embarrassed to say I'm paying over £20 a month to British Gas for a guy to come & service our ancient boiler (well over 20 years old at a guess!) even though theres not a complete range of parts available for it & my household insurance would cover us if it broke down!! OK confession over, my question is could I get a new boiler for the same price per month as I'm paying for this policy? I can't afford to pay out a lump sum but would be able to do a £20 a month payment plan. Any advice would be gratefully accepted

Pincher

A typical replacement quote is £2,000+VAT
BG will want £3,000+.

£20 per month is £240 per year, which will pay off £2,400 in ten years with 0% APR.

What a cracking deal. If you find one, let us know.

C_Mababejive

what make and model is your "old" boiler?

Surfing_spaniel

Its a Glow worm Economy F. I dread to think how old it is

Surfing_spaniel

Hmm when I see an idea of what its going to cost I realise that £20 a month doesnt go far, So much for Johnny Ball & his do the maths advert, I'm assuming you get a crap boiler with that as you'd be dealing with a loan company rather than an energy company??

Wywth

As a moneysaving site, I guess the question you really have to ask yourself is do you need a new boiler at all?

We've got a Glow Worm boiler, like yours it's over 20 years old and never been serviced as far as I am aware.
We have no immediate plans to replace it. It still does the job we need it to.

Surfing_spaniel

I dont know how much money wed save if we replaced it, I'm guessing its not very economical. You have a good point though, I could cancel the £20 a month insurance & pay for someone to check it over once a year with the money I save.

jalexa

Surfing_spaniel wrote: »

I'm very embarrassed to say I'm paying over £20 a month to British Gas for a guy to come & service our ancient boiler (well over 20 years old at a guess!)

This is NOT to endorse British Gas Homecare but ONLY to illustrate the range of prices.

http://www.britishgas.co.uk/products-and-services/boilers-and-central-heating/cover.html

You appear to be paying OTT for just boiler cover and an annual service.

Surfing_spaniel

Omg thanks Jalexa, I'm on the phone to them now, I pay £21.22 per month for homecare 200!! I feel so stupid that I hadnt noticed how much we're paying, I go through everything else so carefully but just missed this

neilmcl

Surfing_spaniel wrote: »

I dont know how much money wed save if we replaced it, I'm guessing its not very economical. You have a good point though, I could cancel the £20 a month insurance & pay for someone to check it over once a year with the money I save.

Any "savings" will unlikely be realised for years to come once you take into account the cost of replacing it. If it still works and it does the job you need it to do then I'd leave it and just get an annual service done for around £50-£100. The old Glow Worm boilers are generally regarded as pretty good workhorses and last for decades.

Wywth

Surfing_spaniel wrote: »

I dont know how much money wed save if we replaced it, I'm guessing its not very economical. ...

Well based on post#2 you could save yourself in excess of £2400 by not replacing it

How much more economical do you think a new boiler would be and hence what payback period are you hoping for?

As hinted at in my previous post, my approach is one of:
"if it ain't broke, don't fix it"
...but your money, your choice