- Rates starting at 4.99%
- Up to 15-year terms
- Borrow up to $100K
- Soft credit pull won’t affect your credit
- No prepayment penalties or hidden costs
- No credit card
Hot Tub & Spa Financing
Jump to…
The Many Benefits of Hot Tub Financing
When you’re in the market for a hot tub, one of the most important decisions you’ll make is how to finance it. There are a variety of financing options available, each with its own benefits and drawbacks. Learn the different types of hot tubs, as well as the different financing options available. We’ll also walk you through the process of applying for a PowerPay loan so that you can get your hot tub sooner rather than later!
What is a Hot Tub?
Also known as an above-ground spa, a hot tub is a completely self-contained vessel that is filled with water and heated to a comfortable temperature. Hot tubs come in a variety of materials, sizes, and shapes, and can be installed either above ground or partially sunken into the ground.
Beyond the basics, hot tubs can also come equipped with a variety of features such as massage jets, built-in stereos, and LED lighting. No matter what your budget or needs, there’s a hot tub out there that’s perfect for you.
Why Should You Install a Hot Tub?
There are a number of reasons why you might want to install a hot tub at your home like:
It’s a great way to relax and unwind: Soaking in a hot tub can help to relieve stress, tension headaches, and muscle pain.
It’s perfect for socializing: Hot tubs are a great way to entertain friends and family.
You’ll increase the value of your home: Installing a hot tub is a great way to add value to your home.
Types of Hot Tubs
There are three main types of hot tubs on the market:
Wooden hot tubs: These hot tubs are typically made from cedar, redwood, or teak. Wooden hot tubs have a natural look and feel that many people prefer. They’re also very durable and can last for many years with proper care.
Portable hot tubs: Portable hot tubs are made from a variety of materials, including vinyl and fiberglass. They’re usually less expensive than wooden hot tubs and are much easier to move if you need to change locations. Portable hot tubs come in a wide range of sizes, so it’s easy to find one that will fit in your backyard.
Inground hot tubs: If you’re looking for a hot tub that’s permanent, an inground hot tub is the way to go. Inground hot tubs are usually made from concrete, fiberglass, or acrylic. They can be customized to fit your backyard and come in a wide range of colors and styles.
Swim-spa combo: As the name suggests, a swim-spa combo is a hot tub and pool combo. These are great for people who want to be able to swim laps or just relax in the hot tub. Swim-spa combos come in a variety of materials, including fiberglass and concrete.
Inflatable hot tubs: Inflatable hot tubs are the most affordable option on the market. They’re easy to set up and take down, making them a great choice for people who don’t want to deal with the hassle of installation. Inflatable hot tubs also come in a variety of sizes, so you can find one that’s perfect for your needs.
What is the Cost of Installing a Hot Tub?
The cost of installing a hot tub varies depending on the type of hot tub you choose, as well as the size and features you want. Wooden hot tubs are typically the most expensive option, while inflatable hot tubs are the least expensive. The average cost of installing a hot tub is between $3,000 and $16,000.
Other Home Improvement Projects to Consider When Installing a Hot Tub
If you’re thinking about installing a hot tub, there are a few other home improvement projects you might want to consider as well:
Fencing: If you don’t have a fence around your property, now is the time to install one. This will help to keep unwanted guests out of your hot tub and will also increase the privacy of your backyard.
Landscaping: You’ll want to make sure that your hot tub is installed in a level area so that it doesn’t wobble or move around. You might also want to consider adding some landscaping around your hot tub to create a more relaxing atmosphere.
Deck: If you don’t already have a deck, now is the time to build one. A deck is the perfect place to put your hot tub and will provide you with a great place to relax and entertain guests.
Deciding the Type, Size, and Materials Best for Your Hot Tub
When you’re ready to purchase a hot tub, there are a few things you’ll need to take into consideration:
Type: As we mentioned above, there are three main types of hot tubs on the market. You’ll need to decide which type is best for your needs.
Size: Hot tubs come in a variety of sizes, so you’ll need to choose one that’s large enough to accommodate the number of people you want to be able to use it.
Materials: Hot tubs are made from a variety of materials, including wood, concrete, fiberglass, and vinyl. You’ll need to decide which material is best for your needs.
Payment Options Available for Hot Tubs
Once you’ve decided on the type, size, and materials for your hot tub, it’s time to start thinking about payment options. There are a few different ways you can finance your hot tub:
Credit cards: You can use credit cards to finance your hot tub purchase. However, this option is only recommended if you’re able to pay off your balance in full each month. Otherwise, you’ll be charged interest on your purchase.
Personal loans: You can take out a personal loan to finance your hot tub purchase. Personal loans typically have lower interest rates than credit cards, so this is a good option if you’re not able to pay off your balance in full each month.
Hot tub financing: You can finance your hot tub purchase through a hot tub dealer. This is a good option if you’re not able to pay for your hot tub in full upfront.
Calculate your monthly loan payment
Term (In Months)
Annual Percentage Rate
*Your actual rate may vary based on your credit score. Calculator is only for estimations, your exact loan amount may vary slightly.
Our Most Popular Home Improvement Loans
Kitchen & Bath Loans
HVAC Systems Loans
Pool & Spa Loans
Interior Remodeling Loans
Interior renovation and remodeling for new rooms and additions for anything inside your home.
Window & Door Loans
Kitchen and Bath Countertop Loans
Deck & Fencing Loans
Driveway & Patio Loans
Electrical Loans
From repairs to the entire home rewiring inside and outside.
Exterior Siding Loans
Install any siding project including vinyl, fiber cement, Hardie board, composite, wood, metal, brick, and stone siding.
Foundation Waterproofing Loans
Interior and Exterior waterproofing and foundation repairs – french drains, sump pumps and more.
Whole House Generator Loans
Gutter Loans
Gutter replacement and gutter cover systems.
Hardscaping & Landscaping Loans
Attic Insulation Loans
Attic Insulation or wall insulation for any energy efficiency project.
Interior Remodeling & Addition Loans
Renovate or remodel rooms in your home or build an addition.
Lighting Loans
Exterior and Interior lighting including security and smart homes.
Paint & Wall Covering Loans
Interior and Exterior painting and wall coverings.
Sheds, Barns & Structures
Security & Home Automation Loans
Sunroom & Patio Enclosure Loans
Sunrooms, Patio Enclosures, She Sheds, ADU’s and more.
Water Treatment Loans
Water filtration and water treatments.
The Benefits of Financing your Hot Tub with PowerPay
There are a few benefits to financing your hot tub purchase with PowerPay:
Soft credit pull: We’ll do a soft credit pull when you apply for financing, so your credit score won’t be impacted.
No prepayment penalties: You can pay off your loan early without penalty.
No deferred interest: You won’t be charged interest on your hot tub purchase if you pay off your loan within the promotional period.
Low APR: Our APR is typically lower than other financing options.
Customer service team available for help: If you have any questions about your loan or hot tub purchase, our customer service team is available to help.
Applying for a PowerPay Loan
Applying for financing with PowerPay is easy. The process of applying is quick and straightforward. Just follow the steps below:
Apply in the office or on our website: You can apply for financing in our office or on our website. Your contractor may also email or text you a link to their customized application
Complete the application: We’ll need some basic information from you, including your name, address, and Social Security number.
Await approval: We’ll review your application and let you know if you’re approved.
Sign the loan agreement: If you’re approved, we’ll send you a loan agreement to sign.
Once you’re approved, the contractor is funded for the cost of installing the hot tub. You’ll begin making monthly payments to PowerPay 30 days after purchase or installation is complete. Your monthly payment will be calculated depending on the loan term you chose. There are no prepayment penalties, you can pay off part or all of the loan early at no cost.
If you’re ready to finance your hot tub purchase, PowerPay is here to help. We offer financing options with low interest rates and flexible terms. Contact us today to learn more about our hot tub financing options.
Hot Tub & Spa Financing FAQ
Can you finance a hot tub?
Yes, you can finance a hot tub. There are a few options available to you depending on your financial situation. You can take out a personal loan, use a home equity line of credit, or finance through a home improvement lender. Each option has its own advantages and disadvantages, so it’s important to compare rates and terms before making a decision.
How much does it cost to finance a hot tub?
The cost of financing a hot tub will depend on the purchase price of the hot tub and the interest rate of the loan. For example, if you finance a $5,000 hot tub at an interest rate of 5%, your monthly payment would be $96.67. The total cost of financing would be $1,160 over the life of the loan. You can use our free online loan calculator to estimate your monthly payments and total cost of financing.
How long can you finance a hot tub?
The standard repayment term for a hot tub loan is 36 to 60 months, which means you’ll have 3-5 years to pay off the loan. However, some lenders may offer shorter or longer repayment terms depending on the amount of the loan and your personal financial situation. If you’re interested in financing a hot tub, be sure to shop around and compare terms from multiple lenders before making a decision.
What are key considerations when purchasing a hot tub?
There are a few key considerations to keep in mind when purchasing a hot tub, such as the size of the tub, the features you want, and how much you’re willing to spend.
You’ll also need to decide where you want to place the tub and whether you need any additional equipment, such as a cover or steps.
Once you’ve considered all of these factors, you can start shopping for the perfect hot tub for your needs. Be sure to compare prices and features among different models to find the best one for you.
Powerpay FAQ
What is PowerPay?
PowerPay is a digital lending platform for the home improvement industry. Our fully automated technology offers near-instant approvals on loans up to $100,000, helping homeowners translate expensive home improvement projects into low monthly fees that can be paid over time.
Unlike other digital lending platforms, PowerPay is a fully independent company that is committed to delivering loans with no extra fees or added costs in order to offer the lowest monthly payment possible to our customers. After all, the more affordable the loan, the bigger the possibilities for your home.
What home improvements can I finance?
Any equipment, service, installation costs or other project related to home improvement qualifies for financing. The following is a partial list of what PowerPay finances: HVAC equipment & installation, attic insulation, stone veneer, windows, siding, roofing, kitchen remodels, bathroom remodels, cabinets, carpet, deck & patio, doors, fireplaces, garage doors, smart home equipment & installation, hardwood flooring, paint & wall coverings, hardscaping, landscaping, siding & exteriors, tile, stone & countertops, air conditioning & heating, gutters, spa & pool, home additions, deck building, tile installation, basement remodeling, custom cabinets, fence installation, lighting installation, garage building, cabinet installation, backsplash installation, electrical and plumbing and appliances.
What contractors can I work with?
Any contractor can provide PowerPay financing. If your contractor does not offer it, simply ask them to sign up on our dealer enrollment page. It’s free for the contractor to sign up, takes only a few minutes to set up their account and they can process your loan in less than 48-hours.
Does using PowerPay impact my credit score?
No. When you apply for a PowerPay loan it will not affect your credit score. PowerPay uses what’s known as a soft pull from credit agencies. A soft inquiry—also called a “soft pull”—allows us to review your credit report and credit score to get a sense of how well you are managing your credit but it will not affect your score.
What equipment do you finance?
We work with all of the major equipment and material manufacturers.
Why should I use PowerPay?
Just like many people finance their car payments, over 50% of all home improvement projects are financed. Financing can be a great payment option when your dream project costs too much money to pay for all at once. Using PowerPay, you can translate that expensive lump sum into a low, affordable monthly payment. The result is the opportunity to stop worrying about what a project costs, and spend more time dreaming about the possibilities for your home.
What makes PowerPay different?
PowerPay is a fully independent company that is committed to delivering loans with no extra fees or added costs in order to offer the lowest monthly payment possible to our customers. After all, the more affordable the loan, the bigger the possibilities for your home.
How do I buy with PowerPay?
It’s easy. You can either work through your participating contractor or contact us directly. Follow our simple application process. If you pre-qualify, you’ll be shown the monthly cost of the item and can complete the process.
Where do I apply?
You can apply on our website at our online application form. Or, simply work with any participating contractor.
How can I get approved for a loan?
Just fill out the simple online application and receive a decision in seconds. It’s that easy.
Who is eligible to apply for PowerPay?
U.S. residents over the age of 18 (or 19 for Alabama or Nebraska residents) are eligible, provided we can verify your identity.
Can I pay my loan back early?
Yes. You can prepay anytime for all or part of your loan. There is never a penalty for paying early.
What is the application process like?
The application process is fast and easy. You’ll be asked to provide some basic information about yourself. If you qualify, you will receive an email with one or multiple loan options along with a loan limit that may even go beyond the cost of your project. You may opt to borrow more and add things like annual maintenance and monitoring to your loan.
Where applicable, there is a one-time member activation cost for each approved loan. For convenience, that cost can be rolled into the final loan balance. As a PowerPay member, you also get exclusive access to member benefits from our lender, including insurance, monitoring, utility, & entertainment partners. Your contractor will walk you through the details prior to signing. All of the documents are electronic so you can sign everything from your home or office without any paperwork.
How does the financing work?
Fill out our online application and receive an instant approval via secure private email. Next, select the plan you want to choose with your contractor and then receive and sign our secure paperless closing documents.
Can I obtain a direct loan using PowerPay?
Yes. PowerPay is available to help to finance a home improvement through participating contractors, but if you do not have a participating contractor, we can help connect you to one in our network. Alternatively, your current contractor can enroll with us and be up and running in less than 48-hours.
Is PowerPay a bank?
No, we are not a bank. We are a digital lending platform designed specifically for the home improvement industry.
Are payments secure?
It is very important to us that your personal information remains secure and encrypted. We install endpoint protection software and/or secure web gateways at all points in our online process. There is a data protection policy in place to help ensure that personal data is kept secure.
How do I make payments?
Once your loan is processed you will receive your loan documents, welcome package, and payment instructions. You can pay with ACH, check, or debit card.
How is the APR (annual percentage rate) determined?
We work with our lender network to look at the credit risk of you as a borrower, and to give you a rate that fits your credit profile. Your financing options are presented to you in clear, simple terms. You are never obligated to accept them. Unlike many platforms that offer credit cards, PowerPay strives to offer lower-risk borrowers with lower rates. The annual percentage rate is the cost of credit as a yearly rate.
Why was I declined for a loan?
Unfortunately, financing options can’t be provided to everyone. If you believe a mistake has been made, please let us know by contacting 800-397-4485. If you are declined, you will receive a notice within 30 days at the email address you provided to us, describing some of the reasons you were declined. Applicants are declined only for credit reasons.
Where can I ask a question or make a complaint?
Please let us know right away. If we have fallen short of our goals, we’d like to know as soon as possible so that we can rectify the situation. You can call us at 800-397-4485 or chat online 24 / 7.
When are my payments due?
Your first payment will be due approximately 30 days from the funding date. Subsequent payments are due every month after that, usually on the same day of each month.
Is PowerPay a credit card?
No. PowerPay is a consumer loan program. You do not need to hold and manage yet another credit card when you work with PowerPay.