Boiler help!

navvy71 · 8 April 2020 at 2:44PM

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

Hasbeen · 8 April 2020 at 2:57PM

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?

Shakin_Steve · 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.

navvy71 · 8 April 2020 at 3:54PM

Maybe I'll try do over less time then, but being on my own it's hard.
Thank you

DCFC79 · 8 April 2020 at 4:56PM

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 ?

jefaz07 · 8 April 2020 at 5:19PM

Shakin_Steve said:

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_Steve · 8 April 2020 at 5:30PM

Vaillant, I think, come with a ten year guarantee. But not for £1,900.

jefaz07 · 8 April 2020 at 5:31PM

Baxi, ideal and glow-worm also do!

Depending on variant. I’m fitting one soon for the same price.

Shakin_Steve · 8 April 2020 at 5:38PM

We live and learn. Still wouldn't do it over ten years, though.

jefaz07 · 8 April 2020 at 6:03PM

Shakin_Steve said:

We live and learn. Still wouldn't do it over ten years, though.

I very much agree with that mate!!

navvy71 · 8 April 2020 at 6:11PM

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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