Heating Oil: Payment Options
There are three basic payment options, Billing, COD and Budget. We will outline them for you in our Welcome Letter. The dealer you are assigned will also outline their terms and conditions.
You have up to 30 days to pay their oil bill. If you pay your bill within 5 to 10 days you will receive the "prompt pay" price which will save you between 2 and 6 cents per gallon.
The credit portion of our membership form needs to be filled out in order for a dealer to do a credit search in order to open a credit account. We do nothing with your credit information except relay it to the dealer and keep it in our dealer file.
COD (Cash on Delivery)
Accepted methods of payment vary and are based on dealer discretion. Most dealers will accept personal checks and some also accept credit card. Some dealers may require cash payment.
COD saves you an additional 2 to 6 cents per gallon, but you need to have a credit balance with the dealer or be present with cash when the delivery is made.
The dealer considers your annual consumption and establishes what they feel will be a fair average price for the coming winter. Then they come up with a total cost for the season. Most budget plans call for ten monthly payments. Oil is delivered automatically and charged to your budget account. Twice during the season, budget plans are reviewed to see if you are paying too much or not enough. The dealer will then adjust your budget payment accordingly.
Using a budget plan makes using oil more like a regular utility dush as your phone or water bill. Your cost is fairly even and there are no huge oil bills to sneak up on you. It also helps our dealers plan, reduce their costs and become more efficient.
Budget plans are seasonal and dealers try to have them established during the summer months. If the season has begun, you may have to pay a large initial payment to catch up.
If you do not adopt a budget plan with your dealer, we recommend that you save money on your own in advance of the next heating season. We strongly encourage you to pay COD or within 10 days to get the prompt pay price.