Loan from the bank to cover the cost of new generator

Loan from the bank to cover the cost of new generator

Nick December 21, 2022

Last year during the storm season, my partner and I lost power multiple times, during one of those storms, we did not have power in the house for 5 afternoons, another time we did not have power for 2 afternoons.

We live way out in the sticks, and we are one of the first to lose our power and one of the last to have it restored.

During one of the storms, my partner and I lost $200 worth of food in the refrigerator. I very much did not want the same thing to happen this year again during storm season, so I contacted a residential electrical repair to get an estimate on a generator. I thought it was going to cost thousands of dollars and I planned to get a loan from the bank to cover the cost of the generator for the house! The residential electrical repair contractor talked with my partner and I about some of the different chances that we had available. I did not realize that we could buy a small generator to cover most of the house. Even though a $6,000 generator would be able to power our whole house in an emergency, a $600 generator would do the same trick for a couple of afternoons. The residential electrical repair contractor did not have to tell my partner and I all of the information that he did about the different generators and all of our chances available. We were ready to spend thousands of dollars, we just needed one of the cheaper generators that could run our refrigerator, freezer, and a couple of six way plugs.
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