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.
user-friendly platform
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.
competitive finance arrangements
Supporting businesses and households through the energy transition"
James Carter, Multi-Channel Manager at Viessmann, stated, “By enabling installers of all sizes to offer competitive finance arrangements on their installations, we are leveling 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 for a Hiber plan and complete the necessary training (included as standard) to enable them to offer finance.
There is 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.
Hiber Max plan and cost
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
Rewards after installation
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 cash flow situation.
Installers can also benefit from a series of rewards after completing transactions through the Hiber platform.