Viessmann adds new financing option for installers to offer their customers
Hiber joins heating manufacturer’s existing financing option, via Tradehelp, to provide installers with more choice
TELFORD – July 20th 2023 – Viessmann has teamed up with Hiber to add a new financing package that will enable installers to access and offer finance to their residential customers. Hiber’s services will be offered to Viessmann customers alongside the existing financing option provided by Tradehelp.
The partnership with both providers allows installers to become FCA-accredited, making it simpler to sell Viessmann products by offering flexible finance payment options on their installations.
Hiber provides instant quotations, a user-friendly platform to manage applications, and a team of dedicated financing experts who do the work behind the scenes. The scheme is for Viessmann boiler installations initially, with heat pumps to follow in due course.
James Carter, Multi-Channel Manager at Viessmann, stated: “By enabling installers of all sizes to offer competitive finance arrangements on their installations, we are levelling the playing field and making it easier for smaller businesses to compete with the large corporates.
“This will be another important step in supporting businesses and households through the energy transition as the country moves towards its net zero ambitions.”
Finance options for boilers are becoming steadily more popular. While overall boiler sales were 41% higher in 2021 compared to 2020, financed boiler sales were as much as 102% higher*.
How does Hiber work?
The first step is for the installer to sign up to a Hiber plan and complete the necessary training (included as standard) to enable them to offer finance. There are a range of plans available to suit all installer business sizes, with the Standard plan starting at just £12 per month or £120 per year with no minimum term.
A representative example of the process thereafter is as follows, based on the Hiber Max plan and the typical cost for a straightforward Viessmann Vitodens 050-W boiler swap installation:
Installer speaks to the customer about the cost of their installation and offers the option of finance, which is now available because they are FCA-accredited.
After the customer expresses their wish to pay on finance, the installer logs into the Hiber platform, adds the customer as a new lead and produces a quote for the customer to view and accept. This can all be carried out in person within minutes.
The customer accepts the quote and starts their finance application.
Once the application is accepted, the installer logs back into the Hiber portal and selects the appropriate finance options for the customer. For example:
Interest free option – 24 months
Order value £2,500
Monthly payments £104.17
Total payments £2,500
Interest bearing 12.9% – 120 months
Order value £2,500
Monthly payments £36.16
Total payments £4,338.88
Interest bearing 12.9% – 60 months
Order value £2,500
Monthly payments £55.86
Total payments £3351.85
Once the customer has selected their preferred finance package, the installer is free to begin the installation work. After the work is complete, the installer will be paid the full amount for the job within five working days, helping them to maintain a positive cashflow situation.
Installers can also benefit from a series of rewards after completing transactions through the Hiber platform.
For more information on the finance packages available through Hiber, visit: https://www.hiber.com/partners/viessmann.
TradeHelp differs by offering procurement services and administrative tools such as quotations, invoicing and service schedules, in addition to finance.
To explore Viessmann’s range of boilers available through Hiber & Tradehelp financing, visit: www.viessmann.co.uk
* Source: HVP magazine, BNP internal data, Vendigo internal data
About Viessmann Ltd.
We are Viessmann, a family business. Founded in 1917 as a heating technology manufacturer, today we are the world's leading provider of sustainable climates in buildings (heating, cooling and air quality) and renewable energy solutions.
Our integrated solution offering connects products and systems via digital platforms and services, creating climates in buildings that provide optimal personal comfort. All our activities are driven by our corporate mission: "We create living spaces for generations to come". This is the responsibility that drives the 14,500 members of the Viessmann family every day, together with our trade partners.
Claire Dumbreck, Propel Technology, email@example.com, 07768 773857.