Double Glazing Finance

Driver08

Please move to correct forum if not in correct place.

Looking at replacing 21 year old, 6 double glazing wooden windows and a front door with new UPVC. I have already received one quote from a large known company (15 year guarantee) from my area and are awaiting quotes from smaller independent companies.

The large company has quoted me £6349.20 (Originally over £9k) however they have a finance option which is £0 deposit followed by 120 payments with 6 months deferred at an interest rate of 4.9% which brings the total to £7008.30. Do you think this is reasonable and any advice please is more than welcome? Thanks

Clive_Woody

Those figures don't seem to add up. If you repay £6349.20 at 4.9% over 10 years I get that you would repay around £8004. Try putting the numbers into a repayment calculator.

If repayment is deferred for 6 months before you start repaying, but interest is charged during this period, then you would have to repay an even higher amount.

https://www.money.co.uk/loans/loan-repayment-calculator.htm

I would suggest you seriously consider reducing the term of the loan from 10 years, don't defer the start of repayments and check on MSE eligibility calculator to see if you might be eligible for a loan at a lower interest rate.

FreeBear

Driver08 wrote: »

I have already received one quote from a large known company


The large company has quoted me £6349.20 (Originally over £9k)


Do you think this is reasonable and any advice please is more than welcome?

I've recently had a quote for five fairly simple & modest sized uPVC windows - This has come in at around £2,000. Also have a bay window plus another large window with complications that is going to cost another £3,000. The complication is that a lintel is required which involves quite a bit of additional work...


The fact that you have already had a £3,000 discount offered should be enough to tell you that the windows are hugely over priced. Shop around, and you should be able to save another £2-3K. As for the 15 year guarantee, I doubt very much that it will apply to the sealed units, nor the hinges & handles.

Driver08

Clive_Woody wrote: »

Those figures don't seem to add up. If you repay £6349.20 at 4.9% over 10 years I get that you would repay around £8004. Try putting the numbers into a repayment calculator.

If repayment is deferred for 6 months before you start repaying, but interest is charged during this period, then you would have to repay an even higher amount.



I would suggest you seriously consider reducing the term of the loan from 10 years, don't defer the start of repayments and check on MSE eligibility calculator to see if you might be eligible for a loan at a lower interest rate.

Using the calculator you supplied it does indeed show as paying £8004 over the course, i will phone the sales person tomorrow and ask why under their finance part it is only showing as the £7008 unless i am missing something out, The plan is if i were to take out the finance was to pay it off within 3 years and not defer thus reducing the interest but allowing flexibility within the payments term. Thanks for replying quickly (i had to take out your link due to me being a new user)

Driver08

FreeBear wrote: »

I've recently had a quote for five fairly simple & modest sized uPVC windows - This has come in at around £2,000. Also have a bay window plus another large window with complications that is going to cost another £3,000. The complication is that a lintel is required which involves quite a bit of additional work...


The fact that you have already had a £3,000 discount offered should be enough to tell you that the windows are hugely over priced. Shop around, and you should be able to save another £2-3K. As for the 15 year guarantee, I doubt very much that it will apply to the sealed units, nor the hinges & handles.

Thank you for your reply, i am waiting on quotes from smaller independent companies so can compare prices with the larger company. The windows are a different colour on the outside than inside and didn't know if this maybe contributed to the increased cost?

MEM62

Driver08 wrote: »

Do you think this is reasonable and any advice please is more than welcome? Thanks

The windows are well over-priced.

System

As above the windows are over-priced. We had three large 6ft+ windows with left and right openings, three smaller 4ft windows, a pair of patio doors and front door done for £4800 and that was Safestyle just in case that's the same large company you've been quoted from.

Mark_Bedford

seems VERY expensive. Remember they are sales people and often (not that I know this case) can add a commission as they see fit. This is what may have happened. I have seen quotes five times the end quote accepted and the work was done fine.

GMS128

Last year I replaced 6 windows and a front door for £3200. Perhaps try some local family run companies.