Hot Tub Financing: What to Know
Quality hot tubs can cost well above $10,000 or even $20,000, so you might need a hot tub loan to get one. If so, you’ll want to shop around for the most affordable hot tub financing options.
Personal loans
A personal loan with low interest rates can help you pay for your hot tub. As of March 2024, top online lenders were offering fixed rates as low as 5.99%.
- Best Egg is a good hot tub financing option for homeowners. Its APRs range from 7.99% to 35.99% with an average discount of 20% for secured loans for homeowners, using the fixtures in your house (such as lighting and built-in cabinets) as collateral.
- LightStream offers personal loans specifically designed for hot tub financing. Interest rates range from 7.49% to 21.94%, with the lowest rates for borrowers with excellent credit who opt for an autopay discount.
Get quotes from several lenders — and keep in mind they generally allow personal loans for financing hot tubs — and then use a personal loan calculator to make sure these hot tub payment plans are affordable.
Manufacturer financing
Many hot tub manufacturers offer financing directly on their website, though the loans usually go through partner lenders.
For instance, you can currently get 6.90% financing for 75 months of equal payments on several Hot Spring hot tub models. This deal is offered through the Wells Fargo Outdoor Solutions credit card.
Visit a few manufacturer websites to look for special financing deals. You might even find 0% financing or other big discounts, especially if you’re not set on one particular hot tub manufacturer.
Store financing
Financing a hot tub through a local dealer will likely require a visit to the store, but you can often find discounts or special offers.
Try a quick internet search to see if any local hot tub dealers have seasonal discounts or 0% financing.
Tip: Go online first
Shop around for personal loan lender quotes before you visit a hot tub store. You’ll avoid a hard sell for a loan, which might have higher interest rates than what you’d get elsewhere. And you might be able to use your quotes to negotiate a better loan at the hot tub dealer.
0% APR credit card
You could also skip a loan and finance a hot tub with a 0% APR credit card instead.
A 0% promotional APR typically lasts between 12 and 21 months, so you would have over a year to pay off your balance interest-free. But remember, if you don’t pay off the card before the promotional period is up, you’ll owe the card’s ongoing annual percentage rate (APR) on your remaining balance.
You’ll need a good to excellent credit score to qualify for a 0% APR credit card — you can check your score with LendingTree Spring. Also, try to avoid taking out too high of a balance, since anything over 30% of your credit limit could drag down your credit score.
Paying in cash
Outside of a 0% financing deal, the only way to ensure that you’re not paying interest on your hot tub purchase is to pay in cash.
If you’re willing to wait and create a budget for your big purchase, you can save on interest payments and avoid taking on unnecessary debt.
Frequently asked questions
Many online lenders specialize in loans for bad credit, and they too can help you pay for your hot tub. However, their interest rates tend to be high, so consider taking the time to improve your credit score before applying for hot tub loans.
In addition to your hot tub monthly payments, you should budget for ongoing costs of hot tub ownership, such as electricity, cleaning products, filter replacements and chlorine. HomeGuide estimates that this will cost between $20 and $60 per month, though the actual cost of running your tub will depend on energy costs in your area.