4 ways to finance a hot tub

Soothe those aching muscles without having to shell out thousands up front.

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people havin fun on a hot tub

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Hot tubs are a simple luxury that can make your home feel like a spa. But with most models costing upwards of $5,000, you may want to consider your financing options to help spread out the cost.

How can I finance a hot tub?

You have four common financing options when you’re looking to cover the cost of a hot tub:

  • Dealer financing. Most hot tub dealers work with a bank to offer financing to customers, though the exact terms and rates will vary. Make sure you compare the offer with other banks and online lenders to find the best deal available to you.
  • Personal loan. With a personal loan, you can finance your hot tub, as well as delivery and installation expenses. Many lenders allow you to borrow up to $50,000 — sometimes even more — though you’ll need good to excellent credit to qualify.
  • Credit card. You could potentially finance all or a portion of your hot tub with your credit card. Just keep in mind that 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 0% introductory rate.
  • Home equity loan. A home equity loan or line of credit uses your property as collateral. They tend to come with lower interest rates than unsecured personal loans, though you risk losing your house if you default. It might be worth going this route if you plan on installing a hot tub for the sole purpose of increasing the value of your home.

How much does a hot tub cost?

The cost of a hot tub depends on the quality of the model you choose:

  • Low-end hot tubs: $3,000 to $5,000
  • Midrange hot tubs: $6,000 to $9,000
  • Luxury hot tubs: $10,000+

If you choose to finance your hot tub, you’ll also have to pay interest. Your loan agreement should outline the amount you pay alongside the final price of your hot tub. And if you invest in accessories or upgraded features, expect to pay more.

How much does it cost to install a hot tub?

Hot tub installation will run you anywhere from $300 to $20,000, according to HomeAdvisor. Prices vary widely depending on whether you opt for an above-ground or built-in option, wooden or acrylic, and other factors.

  • Above-ground hot tubs. The total price depends on the tub you choose. Inflatable hot tubs can be delivered and installed for less than $500. 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 $20,000. 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.

Compare personal loans for your hot tub

Updated November 15th, 2019
Name Product Filter Values APR Min. Credit Score Max. Loan Amount
5.95% to 35.99%
Fair to excellent credit
$100,000
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
3.84% to 35.99%
Good to excellent credit
$100,000
Get loan offers from multiple lenders at once without affecting your credit score.
6.98% to 35.89%
600
$50,000
Affordable loans with two simple repayment terms and no prepayment penalties.
3.84% to 35.99%
550
$100,000
Get connected to competitive loan offers instantly from top online consumer lenders.
34% to 155% (Varies by state)
No minimum
$10,000
Check eligibility in minutes and get a personalized quote without affecting your credit score.
3.99% to 35.99%
450
$100,000
Quickly compare multiple online lenders with competitive rates depending on your credit.
6.49% to 17.99%
650
$25,000
With over 80 years of lending experience, this credit union offers personal loans for a variety of expenses.
6.95% to 35.89%
640
$40,000
A peer-to-peer lender offering fair rates based on your credit score.
5.99% to 17.88%
680
$100,000
No fees. Multiple member perks such as community events and career coaching.

Compare up to 4 providers

6 factors that affect the price of a hot tub

You won’t find many hot tub dealers listing exact prices online. Instead, the price you pay depends on several factors, including:

  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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

With so many varieties of hot tubs to choose from, shopping around and comparing features and accessories can help you find the one that best fits your lifestyle and budget. While many hot tub dealers offer financing, you may get a better deal by comparing your personal loan options yourself.

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