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Financing options for your new portable hot tub

Financing for New Portable Hot Tub

Investing in a hot tub is a significant financial commitment, with prices in the UK generally falling between £2,000 and £8,000. While paying in cash is preferable, it isn’t always feasible, making financing a practical alternative. 

This guide will explore popular hot tub financing options in the UK and offer tips to help you obtain the most favourable terms.

Why does portable hot tub financing make sense?

Owning a portable hot tub can become a reality through financing, which breaks down the cost into manageable monthly payments. 

This option makes ownership attainable, allowing you to enjoy the therapeutic and tranquil benefits a hot tub offers in your home.

Manufacturer financing options

In the industry, it is standard for hot tub manufacturers to provide customers with financing solutions specifically designed for their hot tub models, available exclusively through authorised dealers.

RotoSpa stands out in this sector as the UK’s leading hot tub manufacturer, offering flexible financing options applicable to all its models. RotoSpa’s tailored financing solutions make acquiring your dream hot tub both achievable and financially sustainable, helping you realise your aspirations without exceeding your budget.

Let’s explore how to secure the best deals and take full advantage of the financing options available through RotoSpa.

How RotoSpa financing options work?

Step 1. Research and choose the right hot tub for you

The first critical step towards hot tub financing is identifying the perfect hot tub that meets your needs and budget.

RotoSpa offers a diverse range of hot tubs, each designed with the utmost quality, durability and comfort in mind. Whether you desire a compact option for your balcony or a spacious one for your garden, we have something to suit every preference.

ALSO READ: How much is a hot tub?

To assist you in this process, our experienced team is on hand to help you find the hot tub that aligns with your lifestyle, providing expert advice on the unique features, dimensions, and specifications of our range, thus enabling you to make an informed decision.

Step 2. Keep in touch with a hot tub financing specialist

Once you have chosen your ideal hot tub, the next step is to consult with a hot tub financing specialist. At RotoSpa, our team of experienced professionals is prepared to guide you through our 0% finance agreement details.

During your consultation, they will outline the various repayment options, the duration of the interest-free period, and any other relevant details about your finance plan. 

This step ensures you have a comprehensive understanding, preventing unexpected issues in the future. Recognising that everyone’s financial situation is unique, our specialists will work closely with you to find the best solution.

The goal at this stage is to craft a finance plan that aligns with your budget, facilitating stress-free enjoyment of your new hot tub.

Step 3. Complete the application process

After discussing your options with our specialists and selecting the best finance plan, you will proceed to the application process. 

During this stage, you will need to provide personal and financial details to assess your eligibility for the 0% finance offer on hot tubs. Having all the required information readily available will ensure a smooth process. 

At RotoSpa, we have streamlined the application procedure to be straightforward and hassle-free. Our team will assist you at every step, offering meticulous guidance for a seamless experience.

Third-party financing options

If the financing options available through the manufacturer don’t suit your needs, obtaining pre-approval from third-party financiers such as Herne Bay or Barclays Partner Finance is a viable alternative. 

These lenders typically offer interest rates ranging between 3% and 7% APR, with flexible term lengths from 12 to 84 months. Moreover, they allow you to shop across various hot tub dealers, improving your negotiating power to secure better deals.

Basic financing terms explained

Understanding the nuanced terms of hot tub financing is pivotal in making an informed decision. Here, we break down the key terms you would come across:

  • APR. The yearly percentage rate can vary widely, from promotional 0% offers to 10% or more, depending on the lender. It represents the annual charge for borrowing, inclusive of interest and fees.
  • Down Payment. This initial payment, usually 10-25% of the hot tub’s price, reduces the total loan amount.
  • Loan Length. Ranging from 12-84 months, the term of the loan can dictate the size of your monthly payments.
  • Monthly Payments. Calculated based on the borrowed sum, APR, and term, the payments for a mid-range hot tub are expected to be within the £80-£300 bracket.

Benefits of low monthly payments

Low monthly payments can make owning a hot tub more affordable, allowing you to spread the cost over time rather than paying a large lump sum upfront. This approach not only facilitates financial flexibility, enabling you to opt for a superior model than you could afford with a cash payment but also prevents draining your savings or incurring high-interest debt. Moreover, it minimises the strain on your cash flow. 

Thanks to competitive financing plans, you can begin enjoying a luxurious new hot tub without straining your finances.

Advice for first-time buyers

Venturing into the portable hot tub market as a first-time buyer can be overwhelming. Equip yourself with these insightful tips to navigate the process seamlessly:

  • Pre-approval. Secure pre-approval to understand your borrowing limit and the subsequent monthly payments.
  • Maintenance and energy costs. Factor in the ongoing costs for upkeep and energy consumption in your budget.
  • Loan term. Opt for a loan term that aligns comfortably with your financial outlook, avoiding undue strain on your budget.
  • Understanding terms. Thoroughly review the financing terms and actively engage in clarifying your doubts before committing.

By adopting a responsible financing strategy, owning a hot tub can become attainable for a broad range of budgets. Arm yourself with the necessary knowledge and plan to set out on the path to owning your dream hot tub. 

Begin your journey to relaxation in your spa oasis sooner than anticipated. Contact us or visit our showroom today to get pre-approved.

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