Loans for oil stoves can result in great savings if you have an old oil stove standing, or live in an older house with poor insulation.
For the new models are far more energy-friendly and will, therefore, save you money on the heating bill. Calculations show that you will have earned the new oil boiler home of approx. 7-8 years.
So borrowing a new oil can be a sensible decision and Good Credit and Good Finance are looking into your financing options here.
Financing of new oil-fired
When you have to borrow the money you always have two main options. The bank and the providers online. What should you choose?
We don’t see it as either-or. It is always free to obtain loan offers and prices from nationwide finance companies. Although the bank will often be the cheapest, you can’t be sure they say yes. Maybe you’ve already been rejected.
Therefore, we recommend that you do the following if you are seeking financing for oil furnaces:
- Start by searching with 2-3 online providers now that you are already online. You can easily do this through our website.
- Call the bank and have a conversation with your advisor. Get an assessment of their loan options.
The latter will certainly take the longest time. Because while online providers can provide answers on the same day, the bank will often be slow to dance with.
They will typically require paychecks, budget, tax returns, etc. that can document your income and monthly expenses. From this, they will return with a loan offer. If you are well aware of a healthy private economy.
Benefits of the oil fire
The oil heater is very much an old-fashioned form of heating and therefore it should only be relevant for you in special contexts.
You may be living in a house where there are no other options. Many Danish homes are built to have oil stoves and if they need to be replaced by another type of heating, it can become an extremely expensive affair.
Here, a replacement for a newer and more energy-friendly model may be a better solution.
Here are some key benefits of the oil-fired:
- Easy to install.
- The oil-fired can keep older houses warm – even with poor insulation.
- A new oil furnace can be purchased for “only” 30-50,000 USD.
When we mention the acquisition price as an advantage
It is because redevelopments for geothermal, district heating and heat pumps can quickly cost around 50-150,000 USD. These are quite different figures that few Danes can or want to invest.
If so, at least that’s something you should save up for. If, on the other hand, you just need to replace your old oil burner, it can be done to more reasonable amounts.
We recommend that you both ask the bank and apply 2-3 places online. At that point, you get to explore both options and give yourself the best prerequisites.
Keep in mind that obtaining loan offers is absolutely free wherever you go.