How to finance a hot tub purchase

How to finance a hot tub purchase
(Image credit: Getty)

If you're looking to add an element of relaxation and to your backyard, investing in one of the best hot tubs gives you a dedicated space to relax and unwind at the end of the day. Yet having the ultimate at-home spa experience doesn’t always come cheap, particularly if you’re looking for a top model that needs permanent installation, which is why some people choose to buy on finance. 

Of course, there’s always the slightly cheaper option of inflatable hot tubs instead, which can provide a similar experience without the hefty price tag, and for many people this can be a great half-way house. But if you’re longing for your very own luxury model yet don’t have the available cash to finance it upfront, here’s everything you need to know about how to buy a hot tub on finance. 

How much will I need to borrow?

This will depend on the model you want and whether or not you’ve got any other cash to put towards the purchase, such as from savings, or a tax refund, if it isn’t needed elsewhere. Bear in mind though that tubs can cost anywhere from $3,000 to $16,000 or more – and that’s not counting installation costs, with laying suitable foundations and arranging the electrics adding more to the bill – so it’s little wonder that many turn to finance. 

What are my hot tub finance options?

There are a lot of options available to you, with the one you choose likely coming down to how expensive a model you’re hoping to buy – if you’re looking for something at the cheaper end of the scale you might be able to use a 0% credit card, for example, whereas a high-end custom-built design may require a more substantial loan with collateral in place. Here are some of the options available. 

Credit card

A 0% credit card could be the perfect choice for those with a high enough credit limit, as they could potentially allow you to spread the cost without paying interest. Some could even offer additional rewards if you spend a certain amount within a set timeframe, and with the best credit cards offering interest-free terms for as long as 20 months, you’ve got plenty of time to repay your bill – and flexibility in how you repay it. 

An image of money attached to the branch of a tree

(Image credit: Getty)

Personal loan

A slightly more expensive tub purchase could mean you’re looking for a loan instead - and if you have a good credit score, you’re more likely to qualify for the very best personal loans online. Taking out a loan means you can repay what you owe in years rather than months – which means your repayments could be lower than if you were trying to clear credit card debt within a shorter timeframe. Keep up with the repayments and you’ll have the confidence in knowing that by the end of the term, the debt will be fully repaid too. 

Home equity loan

A home equity loan can be a great solution for homeowners with a high-end purchase in mind, or for those who will need to spend a bit more to create the right foundations and surrounding for their home spa. If you have sufficient value locked up in your home, you may be able to release a lump sum that could easily cover the works involved. And because the loan is tied to your property, rates can be lower than with a personal loan too.


Refinancing may appear to be an extreme method to finance a spa tub, but if you’re planning a substantial garden renovation project at the same time, it could prove to be a viable option. The best refinance mortgage companies can allow you to access some of the equity tied up in your home that could pay for that kind of project.

If it’s been a while since you refinanced, you may be able to lower your interest rate at the same time - this means you may be able to secure a higher loan amount without paying substantially more for it. Just make sure to factor in the additional costs of refinancing to ensure it’s worthwhile.

A person holds money in their hands

(Image credit: Getty)

Point of sale finance

Rather than relying on you arranging the funds ahead of time, point-of-sale financing options are available when you’re actually making your purchase. Shop online or in-store and you’ll usually find “buy now, pay later” options at the checkout, which could even be 0% or low-interest, allowing you to pay for your new tub in installments. Many vendors have relationships with lenders such as Klarna and Affirm and often tie their best offers to in-store promotions.

Hot tub point-of-sale finance works in exactly the same way as the options you’re offered when buying a mattress on finance, or a refrigerator. On the plus side, point-of-sale finance allows you to spread the cost of what you’re buying over a set of period of time, and you’ll know exactly what your payments will be each month. 

On the negative side, however, you’ll want to pay close attention to the terms of your particular deal – while some arrangements can be 0%, others can be far higher, so always make sure to do a few calculations and thoroughly check the small print to ensure it’s going to work for you. Also, pay attention to any potential penalties for missing payments, and be aware that this could leave a negative mark on your credit report too. 

Will financing a hot tub impact my credit score?

Most forms of finance require a credit check, so if you’re looking to refinance, applying for a credit card or taking out a personal loan, there’s the chance that your credit score could see a slight dip. Some point-of-sale options can be arranged without a credit check, but equally there are some that may impact your rating on signing up, so it’s always a good idea to check first. 

Remember, however, if your credit is affected, this should only be temporary and, provided you keep within the terms of your new arrangement and never miss a repayment, it should recover relatively quickly. It’s also worth pointing out that you’ll need a high enough credit score to qualify for this kind of finance, so if yours isn’t up to scratch, you may want to seek the input of credit repair services before you can make your spa tub-owning dreams a reality. 

Leanne Macardle

Leanne has been writing professionally for well over a decade, with the majority of that time spent at a financial publishing company where she wrote countless articles across the personal finance space. Now freelancing, she still predominantly writes about finance, with bylines in both national and trade publications. In her spare time Leanne likes to read, catch up on Netflix and sleep, though her toddler rarely allows such things.