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Use a low rate personal loan instead of a credit card: Hot Tub Loans

Financing Portable Spas: One of the Best Investments for your Home

A new hot tub not only affords your family countless hours of relaxation and pleasure, but in fact a spa can add to the overall value of your home. If you ever decide to put your house on the market, it will offer one more very attractive selling point. A portable spa is also a significant asset that you can take with you when you move. So from health, recreation, and value perspectives, a new hot tub is a very good investment.

SPA FINANCING OPTIONS

For most people, a spa is a major purchase decision. So unless you've been saving up your money for awhile, you'll likely need to take out a loan in order to purchase a hot tub. There used to be many spa financing options available to consumers. In recent years the options have become much more limited, and all too often, more expensive.

Fortunately, there is a great new alternative option available: the peer-to-peer financing for spa loans! Lets review some of your choices:

Store Financing - Installment Credit

Store credit At one time, many brick and mortar spa and pool stores offered in-house financing or installment loans, much like a used car dealer. In most cases, these were actually loans obtained through finance companies. Since this type of credit is usually expensive, some dealers would subsidize the loan's percentage rate, then make it up on the "back end" by jacking up the retail price of the spa to get the profit that they required. Store spa financing is harder to find in recent years, even while the online hot tub selection has increased from companies such as The Spa Depot.

Home Equity Loans - Bank Credit

Home improvement loan Bank home improvement loans used to be prolific. Then came the real estate crisis, which destroyed much of the equity in many people's homes. Large financial institutions as well as small banks are now very shy about lending money to people for major purchases. This is especially true for an item such as a spa that is not a nailed-down addition to the house. Some people with good credit scores have had better luck with small credit unions, but even there the credit crunch has made it more difficult to get personal loans.

Credit Cards - Revolving Credit

Credit cards Most of us have plastic in our wallets, and credit cards can be a wonderful convenience. Unfortunately, the same factors that make them convenient can also be a source of financial quicksand. Then there's the high interest rates and dreaded credit limit! The big secret of the credit card industry is that they are in no hurry to see you pay off your debt. They know that if they ratchet down the minimum monthly payment, they can make a fortune on you over time. A fixed-rate low-interest spa loan can be a better, money-saving choice.

Credit cards

Peer-to-Peer Lending - A New Alternative to Traditional Spa Financing

Peer to Peer Lending Peer-to-peer lending is relatively new, and just what it sounds like: borrowing money pooled from a network of private individuals, instead of from a bank or credit card company. There are advantages to both the borrower and lender through this arrangement. In many instances, peer-to-peer lending works out very well, and results in a personal loan with great interest rates and low fixed monthly payments. This can be a more economical hot tub financing method for borrowers with good credit.

One advantage to the borrower is the ability to appeal to lenders on a more personal level and perhaps get loans that they would not qualify for at a bank. Large financial institutions rarely factor in the borrower's personal story, but a private individual can often be persuaded with a compelling narrative. Finally, the paperwork is generally simpler to complete (normally online) and loan processing time can be shorter than at a bank. 

Spa loans The Spa Depot has partnered with a leader in the peer-to-peer lending community for spa loans. Instead of paying interest on a credit card or a traditional bank loan, you get your loan through ordinary people like you who want to invest in the success of your hot tub project. The online process makes things easy - you apply in minutes. In addition to a new spa, the loan can be used for almost anything including deck renovations, outdoor BBQ, electrician expenses, etc.

Get a great low rate spa/hot tub loan with no hidden fees or prepayment penalties. You can check your rate and payment online without obligation, and without hurting your credit score.

PayPal Financing with Bill Me Later®

Bill Me Later® is the service from PayPal that let's you buy now from The Spa Depot, with the budget flexibility allowing you to pay for your purchase at a later date.

The next time you check out with PayPal, select Bill Me Later as your payment method. A window will appear on your screen asking for your birth date and the last 4 digits of your Social Security number. Once you accept the terms, the approval decision takes just seconds. If approved, Bill Me Later will be added to your PayPal account automatically.

 

 


 
Spa Depot, The, Spas & Hot Tubs - Dealers, Olympia, WA

 
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