Anyone go through Massave rebate/financing? Boiler needs to be replaced

[Shrewsburried]

Originally Posted by bugelrex

Much appreciated, will try to narrow down the brand/model first then a hvac person who installs them.

Do they actually still make the old style cast-iron "reliable" boilers anymore?

Yes, they still dominate the oil/hot water and oil or ng/steam markets.

In the residential NG market, SS/aluminum (heat exchanger) condensing boilers have become very common. Companies like Buderus or Burnham still sell high quality 'traditional' cast iron NG boilers, but even with a perfect install and a ‘fancy’ Tekmar outdoor reset you'll be lucky to get above 87-90% with a cast iron non-condensing boiler ... limited by design. Factory specs are closer to 84-85%, but it could last you 30+ years.

[MikePRU]

The one thing you should know about the HEAT loan from Mass Save is that each lender executes it slightly differently. I wanted to do the full 7 year term that Mass Save offers . . . why not? Not every lender I spoke to was willing to do the 7 year term. Some lenders have application fees and some will want to record a lien against your house. I went with Mass Bay CU because they didn't record anything against my house, they didn't charge any fees, and they were willing to do a full 7 year term.

[cb2008]

Originally Posted by PurpleTwix

We need to replace our boiler.

Has anyone here taken advantage of Massave rebate and 0% financing?

If so which system/installer did you go through?

yes.
we went with Callahan

[bugelrex]

To get rebate, do you have to get a massave assessment first (to confirm old boiler)? Otherwise you have to find hvac guy who will process the paperwork for you?

[MikePRU]

Originally Posted by bugelrex

To get rebate, do you have to get a massave assessment first (to confirm old boiler)? Otherwise you have to find hvac guy who will process the paperwork for you?

If memory serves, you have to get the energy audit done first in order to qualify for the boiler rebate.

[Boston_Burbs]

It much easier if you pay the installer once the job is done and cash the mass save check (they might have to sign it over) once you get it. Having to wait for the check from mass save takes forever.

Also, if you sell your home you don't have to pay off the loan since it is a personal loan. No reason to pay off a 0% loan if you dont have to

[MikePRU]

Originally Posted by Boston_Burbs

It much easier if you pay the installer once the job is done and cash the mass save check (they might have to sign it over) once you get it. Having to wait for the check from mass save takes forever.

A lot of contractors will do the paperwork for you and arrange to have the rebate sent directly to them instead of you.

Originally Posted by Boston_Burbs

Also, if you sell your home you don't have to pay off the loan since it is a personal loan. No reason to pay off a 0% loan if you dont have to

I don't recall what the note you sign says, but I would definitely read that before assuming that you can do such a thing. It's been about 6 years since I took out my HEAT loan and certainly the program may have changed a bit since then but my recollection is that every lender put a little bit of a different spin on the loan. Some of them were charging a fee, some were recording a lien against your house, and some were not willing to offer the full 7 year term mentioned in Mass Save's literature about the loan. So, anyone taking out one of these loans should do their research before signing on the dotted line to find out what their options are with the loan.

[Boston_Burbs]

Originally Posted by MikePRU

A lot of contractors will do the paperwork for you and arrange to have the rebate sent directly to them instead of you.



I don't recall what the note you sign says, but I would definitely read that before assuming that you can do such a thing. It's been about 6 years since I took out my HEAT loan and certainly the program may have changed a bit since then but my recollection is that every lender put a little bit of a different spin on the loan. Some of them were charging a fee, some were recording a lien against your house, and some were not willing to offer the full 7 year term mentioned in Mass Save's literature about the loan. So, anyone taking out one of these loans should do their research before signing on the dotted line to find out what their options are with the loan.

Yea I had a more complicated one. I financed asbestos abatement, flue liner, and a new boiler, plus it was an oil to gas conversion. It was just easier to pay them and wait for the checks, one less cat to herd as I bought the house in the summer and had to crunch to get the massive oil boiler out of there.

On the loan front, I called the bank (Metro CU) when I went to sell the house for a payoff and they said i didnt need to pay it off so I just keep paying the thing. Not sure if it against the rules but like i said before, no need to pay off a 0% loan. I think metro went to fee route from what I remember, and they did 7 years. Great to work with.

[Louisville Slugger]

Yeah, my contractor who installed my minisplit filled out all the rebate paperwork. He even found an extra rebate for me since I was replacing electric baseboards. I had to provide some electric bills proving a certain increase of kWh between the warmest and coldest months of the year.

[cwaggy]

Contractors raised their prices according to the rebate value. It ends up in their pocket. rebates allegedly incentivize consumers but it just primes the marketplace for price gouging by installers. I took the rebate and the financing from Mass-Save. I asked the installer to but the boiler on my CC and had him install on a time & materials basis. I got the bill for hourly work and a few fittings. When he was done I asked him to sign the rebate paperwork. He was miffed - says 'gee if I knew you were getting a rebate we would have given you a firm contract price'. In other words, there is no reason the let the HVAC people know you know about the rebate. If they do, they will take it from you in the inflated cost of the work.