The price of oil has risen so much in recent years that not every home owner can pay for the heating oil in one sum. In addition, a loan for heating oil enables oil to be bought at low prices, such as are often offered in summer. There are various options for borrowing fuel purchases.
It is usually carried out by the house owner, who allocates the heating costs to the tenants together with the operating costs. In the case of single-family houses in particular, the lease agreement can stipulate that the resident procures the required heating oil on his own account, so that he also borrows the necessary credit.
The installment payment agreement with the fuel dealer
An installment payment agreement with the fuel dealer is much easier to process than an external loan for the heating oil. To do this, it is sufficient to specify the payment request in three, six or twelve monthly installments when ordering. It is generally not necessary to present proof of earnings even when placing the first order from an oil supplier. However, not all fuel traders offer installment payments. When comparing prices, heating oil buyers pay attention not only to interest rates, but also to the price of goods. A low purchase price of the fuel in connection with a bank loan is often cheaper than the interest-free installment payment associated with a higher oil price.
The bank loan for the heating oil
If the overdraft facility or the credit line on the credit card account is sufficient to pay the heating oil bill, many customers use the existing credit limit for the heating oil delivery. This procedure is convenient, but the interest rates payable on overdraft facilities are significantly higher than on installment loans. Financial institutions pay out consumer loans without giving the reason for the credit, so that the customer does not have to explicitly state that he needs the credit for the heating oil delivery. Consumer advocates recommend that you only take out a second loan once the older installment loan has been repaid for the same purpose. Since heating fuels are needed every year, the loan for the heating oil should only have a term of twelve months so that the heating owner repaid it before the next fuel order.
This does not necessarily apply if a heating oil loan for the additional amount of oil required is only required in an exceptionally harsh winter. In this case, regional banks in particular offer a discounted credit for the oil delivery, the use of which must be proven in accordance with the contract by submitting the heating oil bill. When borrowing over twelve months, heating oil buyers make sure that not every bank offers consumer loans with such a short term. In addition, a loan comparison is essential to get a cheap loan for heating oil purchases.
Alternatives to a bank loan for heating oil
Possession of home ownership does not exclude the receipt of social funds such as unemployment benefit II, the benefits of which include a contribution to heating costs. In individual cases, such as in a surprisingly severe winter, there is the option of receiving an additional loan for the purchase of heating oil from the job center. Anyone interested can take out a loan for the heating oil via an online platform for personal loan brokerage.
When submitting a request for organized personal loans, loan seekers indicate the intended use, since the lenders prefer to base their decisions on this. They support lending for a heating oil purchase primarily in cases where the loan seeker shows why it is difficult for him to borrow from a conventional bank.