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Boiler help!

in Credit Cards
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navvy71navvy71 Forumite
6 Posts
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Good afternoon! Just need abit of advise regarding buying a new boiler! So I'm in a pickle as to what would be the best way to pay for it so I either do it over 10 years on 9.9% Apr 24.00 per month..I've worked out over 10 years it's costing an extra 8.43 per month with that interest rate...(works out nearly 1000.00 more)or I stick it on my credit card at 18.10% increase my payments as much as I can to chip away at debt? 
Any input would be helpful please...the boiler is 1,900.00.
Warm wishes, Michelle 
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Replies

  • HasbeenHasbeen Forumite
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    navvy71 said:
    Good afternoon! Just need abit of advise regarding buying a new boiler! So I'm in a pickle as to what would be the best way to pay for it so I either do it over 10 years on 9.9% Apr 24.00 per month..I've worked out over 10 years it's costing an extra 8.43 per month with that interest rate...(works out nearly 1000.00 more)or I stick it on my credit card at 18.10% increase my payments as much as I can to chip away at debt? 
    Any input would be helpful please...the boiler is 1,900.00.
    Warm wishes, Michelle 
    Can you not cut time down to perhaps 3 years, £61 per month then only £290ish more. Any better rates from your bank or online?
    The world is not ruined by the wickedness of the wicked, but by the weakness of the good. Napoleon
  • edited 8 April 2020 at 3:33PM
    Shakin_SteveShakin_Steve Forumite
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    edited 8 April 2020 at 3:33PM
    Spreading the cost of a boiler over ten years is not advisable. Most boilers will have run out of steam (see what I did there?) after 7-8 years, and you'd need to finance another boiler while still paying for this one.
    I came into this world with nothing and I've got most of it left.
  • navvy71navvy71 Forumite
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    Maybe I'll try do over less time then, but being on my own it's hard.
    Thank you
  • DCFC79DCFC79 Forumite
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    A credit card at 0% could be an option.
    How many quotes have you got ?
    Seems a bit steep for a boiler, what does the £1900 cover ?
  • jefaz07jefaz07 Forumite
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    Spreading the cost of a boiler over ten years is not advisable. Most boilers will have run out of steam (see what I did there?) after 7-8 years, and you'd need to finance another boiler while still paying for this one.
    Unless Of course it comes with a 10 year warranty. And a lot do now. Which is generally cheaper or on par with lower warranties like for like,
    I still wouldn’t finance it over 10 years though. 
    Who was this through? Have you tried the likes of BOXT?
  • Shakin_SteveShakin_Steve Forumite
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    Vaillant, I think, come with a ten year guarantee. But not for £1,900.
    I came into this world with nothing and I've got most of it left.
  • jefaz07jefaz07 Forumite
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    Baxi, ideal and glow-worm also do! 
    Depending on variant. I’m fitting one soon for the same price. 
  • Shakin_SteveShakin_Steve Forumite
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    We live and learn. Still wouldn't do it over ten years, though.
    I came into this world with nothing and I've got most of it left.
  • jefaz07jefaz07 Forumite
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    We live and learn. Still wouldn't do it over ten years, though.
    I very much agree with that mate!!
  • navvy71navvy71 Forumite
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    So, yes it has 10 year warranty...it's through 'glow green'
    Also looked at company 'heatable ' offering alpha e Tec 28kw...33.50 for 5 yrs...9.9%..
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