To select the best fuel oil provider, you may be tempted to choose on price, but quite often customers find that the best price per gallon includes hidden fees and very little in the way of service. One way we maintain our customers’ loyalty is by offering choices for how you purchase your oil. Here’s an overview of our payment plan options.
Purchase your fuel oil in advance based on an estimate of how much you’ll use over the course of the heating season. An IT Landes® home heating expert can help you estimate this amount based on your home’s historical usage and weather conditions in your area.
Pre-buying allows you to
- lock in a pre-season price, so you won’t be affected if prices rise.
- make a single payment for the total amount of oil you’re purchasing prior to the start of the heating season.
One risk of pre-buying is purchasing too little oil and having to purchase additional gallons later in the season at market value, which may be higher than the pre-season price.
Pay for your fuel oil via even monthly payments that are calculated based on your previous usage.
With Smart Pay you get
- predictable monthly payments that are ideal for customers who are on a budget.
- no unexpectedly high heating bills during the heating season.
There is no risk associated with Smart Pay; however, some customers don’t like paying for heating oil during the off-season summer months.
With price cap you’ll never pay more than a predetermined price per gallon for your heating oil. If the price of oil goes down, you pay the lower price. If the price of oil goes up, you’re protected and pay no more than the agreed upon capped rate.
With Price Cap
- you’re protected from unexpected spikes in the market.
- you purchase your fuel oil from IT Landes for the term of the contract.
You do not have to be on a Smart Pay plan to take advantage of a price cap, but many customers opt to include price cap protection along with a monthly payment plan.
With pay-as-you-go, you pay the current market price at the time of delivery.
- there is no obligation to purchase a minimum amount of fuel oil.
- you can switch suppliers at any time without having to break a contract.
The downsides are fluctuating oil prices and the potential for periodic, large oil bills. If a market event drives oil prices up, you’ll be paying the higher price, and you’ll be paying the total amount at the time of delivery.
In addition to each of the options described above, you can combine certain options, such as Pay-As-You-Go with Price Cap or Smart Pay with Price Cap. You can also opt to pre-buy with downside protection. So, if the market price drops below your prepaid price, you can still benefit from the lower rate.
Add It Up with Our Fuel Oil Calculator
To help you decide which fuel oil payment plan best suits your budgets, try our Fuel Oil Calculator. If you still have questions or need further assistance, contact an IT Landes home comfort specialist at 215-256-4221 or request an appointment online.