How to finance a hot tub

Hot tubs are a simple luxury that can make your home feel like a spa. But with many models costing thousands of dollars or more, you may want to consider your financing options to help spread out the cost.

How can I finance a hot tub?

Depending on the hot tub, home spa or jacuzzi you’re looking at, you can finance it one of four ways.

• Store financing. Most hot tub dealers offer financing to customers through a bank or online lender. The exact terms and rates will vary.
• Personal loan. With a personal loan, you can finance your hot tub, as well as delivery and installation expenses. You’ll need good to excellent credit to qualify for the lowest rates.
• Credit card. You could potentially finance all or a portion of your jacuzzi with a low interest rate credit card. Just keep in mind that a carrying a balance of more than 30% of your credit limit can hurt your credit score. And credit cards tend to come with higher interest rates than personal loans — unless you’re able to take advantage of a card with a low introductory rate.
• HELOC. Since it adds value to your home, you may be able to take out a home equity line of credit (HELOC) to help finance your hot tub. With a HELOC, you use your house as collateral to get a lower interest rate.

How much does a hot tub cost?

Hot tubs can cost anywhere from $3,000 for a basic unit to $30,000 or more for a luxury model — it depends on the quality of the brand you choose, how many people it can hold, the hot tub’s features and any additional accessories.

How much does it cost to install a hot tub?

Hot tub installation costs vary widely depending on the product. Wooden and acrylic tubs, and built-in tubs with steps, a locking cover, screen, ozonator and heater may have installation costs of $4,000 to $20,000.

• Above-ground hot tubs. Inflatable hot tubs can be delivered and installed for less than $700. Wooden and acrylic hot tubs are more costly, ranging from $4,000 to $16,000.
• Built-in hot tubs. The cost of a built-in is typically between $15,000 and $30,000. Because installation requires more work, you’ll want to ensure you find a good contractor with a team that has experience with the excavation and installation process.

Interest rates for a hot tub loan

In the table below, we outline a few standard hot tub costs and interest rates you can expect for a four-year loan term. For more detailed price comparisons, you can also use our calculator to estimate the exact cost of financing your hot tub.

Loan amount	APR	Monthly payment	Total cost
$1,000	6%	$23.49	$1,127.28
$1,000	12%	$26.33	$1,264.02
$1,000	20%	$30.43	$1,460.66
$2,500	6%	$58.71	$2,818.20
$2,500	12%	$65.83	$3,160.06
$2,500	20%	$76.08	$3,651.64
$5,000	6%	$117.43	$5,636.41
$5,000	12%	$131.67	$6,320.12
$5,000	20%	$152.15	$7,303.29
$10,000	6%	$234.85	$11,272.81
$10,000	12%	$263.34	$1,2640.24
$10,000	20%	$304.30	$14,606.57
$15,000	6%	$352.28	$16,909.22
$15,000	12%	$395.01	$18,960.36
$15,000	20%	$456.46	$21,909.86

Representative example: Sandra gets hot tub financing

Sandra wants to add a hot tub to her outdoor area. She finds the perfect model with the perfect price tag of $10,000, so she’s ready to buy. But after having just returned from the trip of a lifetime to Europe, Sandra doesn’t have a big savings balance to call upon. She doesn’t want to dip into her remaining savings to buy a hot tub — she likes having a financial safety net to cover unexpected bills —so she compares financing options from four lenders.

Check out the table below for the results of her comparison.

	Lender A	Lender B	Lender C	Lender D
Amount borrowed	$10,000	$10,000	$10,000	$10,000
Interest rate	4.99%	9.99%	17.99%	7.99%
Loan term	60 months	36 months	48 months	24 months
Admin fee	$0	$0	$0	$0
Total interest	$1,319.99	$1,614.50	$4,097.49	$853.46
Total cost	$11,319.99	$11,614.50	$14,097.49	$10,853.46
Monthly payment	$188.67	$322.62	$293.70	$452.23

Sandra decides to finance her hot tub with Lender D. While Lender D has the highest monthly payment, its short loan term means it works out to be the cheapest option in the long run.

6 factors that influence the price of a hot tub

Some hot tub dealers don’t list exact prices online. Instead, the final cost depends on several factors, including:

1. Size and seating. The amount of water your hot tub can hold — as well as the number of people it can fit — will influence the price you pay. The bigger the tub, the higher the cost.
2. Included features. Some features, like massage jets or touchscreen controls, may increase the price of your hot tub. Luxury and convenience will make a hot tub more expensive.
3. Quality. The quality of materials plays a role as well. An inflatable tub will cost far less to buy and install than a similarly sized in-ground model.
4. Manufacturer. Like most luxury items, the brand and model you choose could influence the price. Be sure to compare similar hot tub manufacturers before making a final decision.
5. Delivery costs. The type of tub you buy and where you live will impact how much it costs to get delivered. In general, the heavier the tub or the more remote your home, the more you’ll have to spend on delivery.
6. Optional accessories. Hot tub covers, drink holders and lighting will all add to your costs. The more bare-bones your hot tub, the less you’ll have to pay.

Bottom line

Take your time exploring hot tubs, features and accessories to get the best price. And before you sign up for store financing, compare your personal loan options to see if you can score a lower APR.

Frequently asked questions

• How much does it cost to maintain a hot tub?

  The maintenance cost for a hot tub varies widely by area and use. Between heating the water, draining and refilling the tub, cleaning and repairs, you may need to pay $100 or more every month. Your dealer should have more information about how much you can expect to pay for a specific model in your area.

• Can I finance a hot tub if I have bad credit?

  Yes, but you probably won’t get a competitive interest rate. You might want to take the time to improve your credit score before making the purchase.

• Should I finance a hot tub through a rent-to-own program?

  Using rent-to-own programs may not be the best financial decision. While the weekly payments appear inexpensive, interest and fees on your purchase can quickly add up — often costing double or triple the actual value of the item. Since a hot tub isn’t a necessity, you may want to build your savings and purchase it outright if you aren’t able to qualify for dealer financing.