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How to finance a hot tub

By Edited Nov 13, 2013 0 1

Now you can buy a hot tub

Why would you want a hot tub and how to find a hot tub? Sitting in a hot tub with a chilled glass of wine or an ice cold beer after a long and stressful week at the office is simply divine. Sitting in a hot tub letting the jets sooth the aches and pains is reviving after a heavy workout or gym session. Socialising with friends or family and having a hot tub party is a great way of impressing and entertaining. As you can see, there are loads of reasons to have a hot tub, so why haven’t you got one?

At a guess I would say the primary reason is money and the cost of a hot tub right? In days gone by hot tubs were expensive and only the rich could afford such luxury items. However, times have changed and hot tubs are now available in more places and are cheaper than ever, which means the average person (just like me) can afford to have one of these super products. Not many people have the spare cash available or the savings to go and buy a hot tub outright (I know I certainly didn’t) so the only way of buying a hot tub is using credit.

"Can you see yourself relaxing in one of these with a beer or wine in hand? Do you think it is only a pipe dream? Well, with the following finance solutions your dream can easily become a reality"

How to finance a hot tub

 

There aren’t that many sources of credit although there are a few options that may be available to you.

You may have a friend or family member willing to lend you the money you need for a hot tub. This friend or family member may even be willing to lend you the money interest free, which is even better however you do need to tread carefully in these situations. Money is a primary source of relationship breakups so if you want to remain on good terms with the friend or family member you have to make sure you make the agreed instalments by the agreed dates at all times. Even if the loan is interest free it is a nice gesture to give some additional money or a gift of some kind as a thank you.

If you have a credit card with a large enough credit limit you may be able to buy a hot tub using your credit card. However, you do need to remember that credit cards are an expensive source of finance and should only be used for a period. If you are expecting a windfall in the very near future and can settle the credit card bill quickly, by all means use your credit card to buy a hot tub. If, however you are going to take a few years to pay for the hot tub do not buy it using your credit card as you will end up paying a lot of interest.

Some hot tub dealers may offer credit facilities allowing you pay for the hot tub over a specific number of months. When getting credit from a dealer you need to make sure you read the small print as the interest rates are often higher than bank loans. In addition, you need to be comfortable the dealer is going to be around for the duration of the credit term since the loan can (and usually will be) called on in full if the dealer goes in to liquidation. If you are happy with the interest rates and are happy the dealer is a good business that is going to be around for a while then, by all means, get credit from the dealer. One other thing you need to consider though is could you buy the same hot tub for less from another dealer that doesn’t offer credit facilities?

The most obvious, and most popular, source of finance is to get a bank loan. With a bank loan you are free to buy from whatever dealer you wish, you are free to haggle over the price and get a reduction (which usually works when you have the cash in your wallet), which is something you would never be able to do if you bought a hot tub from a dealer using their credit facilities.

As you can see, there are a number of different ways you can finance a hot tub, so never let a lack of funds being a reason to not buy a hot tub, if you desire one. Whilst all the different sources of finance may not be available to you, there will be something available to you that will let you realise your dream of enjoying everything a hot tub has to offer.

So now you know you can actually afford to buy and finance a hot tub you have to ask yourself the question “am I going to buy a hot tub?” If the answer is yes, and I can highly recommend buying a hot tub, the next thing you will need to do is find the perfect hot tub for you. Fortunately, there are loads of cheap hot tubs for the home  available to buy, which means there is something for all tastes, all requirements and all budgets.

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Comments

Jun 6, 2012 10:59am
askformore
Thank you for some very useful tips.
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