What Windows on Finance Really Means

Here at Alaskan Windows and Doors, we offer a bespoke range of double glazed home improvements to our treasured customers throughout London and Surrey. We aim to dispel the common myths in the home improvement industry, with honest prices, impartial advice and amazing customer service. As part of our commitment to you, we ensure our team never engage in high pressure sales tactics, offer false discounts or invoice work unless you’re completely satisfied. 

We offer an amazing range of windows and doors, installed to the high standard every homeowner should expect. We offer a range of different styles, including uPVC windows and doors, as well as aluminium models. If you’re looking for a double glazing supplier with attention to detail, quality installations and high performance products, look no further than the bespoke range available at Alaskan Windows & Doors. 

As part of our commitment to uncover the truth behind common myths in the home improvement industry, we pride ourselves on offering advice surrounding finance packages in today’s market. Home improvements are a financial investment, and with all kinds of homeowners needing to replace their windows and doors, there are a variety of options available on the current market to pay for them. However, a lot of these packages seem to look good on paper- while hiding huge markups and sneaky sales tactics underneath. Let’s explore the world of home improvements on finance together in this handy article. 

How Does Interest Free Credit Work?

Although it may seem like a foolish question, the reality is that there is no such thing as borrowing money for free. Someone always has to bear the burden of paying interest. In the case of interest-free credit agreements, this option allows homeowners to borrow a specific amount of money over a defined period without any interest charges. These agreements often do not require a deposit, which means you don’t have to provide any cash until the first direct debit payment following the completion of the installation. 

Currently, there are competing national and local installation companies that offer schemes like ‘pay nothing for a year and then pay the remaining balance over 4 years.’ However, it is usually possible to opt for a larger deposit, which will result in reduced monthly repayments. The interest in these schemes has to go somewhere. So- where does it go?

Stunning composite doors installed by Alaskan Windows & Doors.

In the home improvement industry, there are a number of ‘interest free credit’ options that seem a little too good to be true. The reality of the situation is that, in the case of double glazing installations, the credit agreement interest is charged back to the company once the installation has finished. Once your installation is complete and you’ve decided you are satisfied with your new windows or doors, the invoice is sent back to the finance company, so they can pay for the work that’s been done. The interest payments for this process is already very high in today’s market with a strong probability of getting even higher as the Bank of England remains committed to its cycle of interest hiking in a bid to combat inflation. This can result in what is in effect an ‘inflation spiral’ as the company, as a measure to cover increased interest payments, is forced to charge more for the goods and services leading to prices going up which in turn leads to even larger interest payments thus perpetuating a looping ‘inflation spiral.’

This of course can lead to structural instability in a company’s business model and in the past many companies including some of the largest national home improvement brands have gone out of business. This means that these crafty finance schemes can set double glazing retailers back as much as 20-25% of their installation fees. For the consumer this can have the unfortunate consequences of service issues not being addressed as the company is no longer around to honour its guarantee. Alaskan Windows Ltd has been trading as a single concern since 2004 with a strong balance sheet based on its conservative approach to financial responsibility and as such has always been in a position to fulfil its obligations to its customer base.

The Reality of Windows on Finance

So how is it done? First, the retailer can charge hefty markups on their work to the consumer, costing more for their installations over time. This certainly cannot be described as “interest free credit”. The alternative is taking a hefty loss on their profits. This can affect the quality of the company’s future work, or drive down the cost of the products they install, with lower performance, durability and overall quality.. 

Here at Alaskan Windows & Doors, we do not compromise on quality. That’s why we do not offer ‘interest free’ finance options for our installations. We take great care with the quality of the products we install, making sure our products always satisfy our customers across London and Surrey. We care about avoiding deceptive sales tactics, which is why we avoid up-charging our customers with “interest free credit” options. We offer honest pricing, high quality products and installation services you can trust. 

Contact Alaskan Windows Today. 

Looking for high quality windows and doors that cut through the high pressure sales environment of today’s home improvement market? We’ve got you covered here at Alaskan Windows & Doors! We offer high quality uPVC and aluminium installations that are as durable as they are stylish. For home improvements across London & Surrey, contact Alaskan Windows & Doors today.

Contact us through email at email@alaskanwindows.co.uk, or give us a call on 020 86448060. We look forward to discussing our high quality range of home improvements with you, at honest prices that cut through the insincerity of today’s market. We can’t wait to hear from you.