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.
Depending on the hot tub, home spa or jacuzzi you’re looking at, you can finance it one of four ways.
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.
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.
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 |
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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.
Some hot tub dealers don’t list exact prices online. Instead, the final cost depends on several factors, including:
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.
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