Boiler finance: A 2024 rundown

Are you in need of a new boiler but concerned about the upfront costs? At Padly, we understand that replacing your boiler can be a significant financial decision. That's why we offer affordable and convenient boiler finance options that allow you to spread the cost over time. In this blog, our experts will provide you with a comprehensive overview of our boiler finance options for 2024, to give you peace of mind.

Boiler finance made for everyone

Discovering that you need to replace your boiler can be a daunting experience, especially if you are unable to pay for it all at once. Padly's boiler finance options are designed to make the process easier and more accessible. With our financing options, you can say goodbye to large upfront payments.

Here's how our boiler finance works:

Monthly payments: When you purchase a new boiler from Padly, you have the flexibility to pay an agreed-upon amount each month. You can choose to start making payments either before or after the installation of your new boiler.

Deposit option: If you wish to lower your monthly repayments, you can also make a deposit towards your boiler purchase. This option allows you to tailor your finance plan to suit your budget better. Our finance team at Kanda allow you to pay a deposit between 10%-50% of the value of your chosen boiler. We recommend putting down a 25% deposit to help lower your monthly repayments.

Different APR options

At Padly, we offer several APR options to suit your needs:

• 0% APR Over 10 Months: Pay for your new boiler over 10 months with no additional interest, providing a straightforward and interest-free way to finance your purchase.
• 11.9% APR Over 36 Months and 60 Months: Choose a 36-month or 60-month plan with a competitive 11.9% APR, providing you with flexibility in your repayment period while keeping interest rates manageable.
• 14.9% APR Over 120 Months: If you prefer an extended repayment period, our 120-month plan offers a 14.9% APR, allowing you to spread the cost over a more extended timeframe.

How to get started with boiler finance

Getting started with Padly's boiler finance is a straightforward process:

1. Browse Our Plans: Explore our finance plans and select the one that best suits your financial situation. You'll find these finance options during the checkout process when you purchase your new boiler.
2. Apply Online: We've partnered with Kanda finance to streamline the process of finding the right finance deal for you. After applying online, you'll receive a notification within minutes to a few hours to inform you of your eligibility.
3. Finish Booking: Once you are approved for finance, you can finalise your new boiler deal and schedule your installation date and time. It's as simple as that!

Benefits of boiler finance

Financing your boiler with Padly offers numerous benefits, including:‍

Access to Better Deals: Some finance options may come with additional offers or discounts, making it more affordable to upgrade to a higher-quality boiler.

Increased Energy Efficiency: Upgrading to a more efficient boiler can lead to long-term savings on your energy bills, helping offset the cost of financing.

Avoiding Upfront Costs: Buying a boiler on finance allows you to avoid hefty upfront costs and instead spread the expense over time.

More Flexibility: Choose a finance option that aligns with your budget, and select a repayment period that works for you, helping you manage your monthly expenses more effectively.

Low Monthly Payments: By spreading the cost over several months or years, you may have the opportunity to invest in a higher-quality, more efficient boiler than you could with a one-time payment.

Flexible boiler finance

Financing your new boiler with Padly offers several advantages for homeowners. It allows you to spread the cost, making it more affordable in the short term. This is particularly beneficial if you don't have immediate funds available for the full upfront payment.

Here's an example of a repayment method based on a state of the art Worcester Bosch Greenstar 4000:

• Total Price: £2,772
• Deposit Amount: £831.60
• Number of Payments: 36 months
• Monthly Cost: £64.36
• Fixed APR: 11.9%
• Finance Amount: £1940.40
• Total Repayable: £3148.43

*Based on purchasing a Worcester Bosch Greenstar 4000 25kW boiler

To work out your own payment plan, check out our monthly boiler repayment calculator that is partnered with Kanda finance.

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We understand that a new boiler installation is an investment in your home's comfort and energy efficiency. That's why we offer flexible finance options to make the process smoother and more manageable for you. Whether you're looking for monthly instalments or other payment plans, we've got you covered.

At Padly, our mission is to provide affordable boilers from the UK's most trusted brands, and our boiler finance options are just one way we're making this possible for homeowners across the UK. Don't let the upfront cost of a new boiler deter you; explore our finance options and enjoy a warmer, more energy-efficient home.