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What to Consider When Financing Your Spa Pool | HotSpring Spas

What to Consider When Financing Your Spa Pool

A spa pool is an investment that offers an array of returns. There are the financial, with a spa adding value to your home and enhancing your ability to rent out an investment property. There are also the personal, with spa pools enhancing your health, wellness and quality of life.



But to focus purely on the returns is to ignore the fact that you’ll first need to make the investment. Spa pools are a significant purchase, and one that the average Kiwi is unlikely to find the money for behind their couch.

Happily there are a variety of ways to secure a spa pool, even if you don’t currently have the necessary funds available. Let’s take a look at a few of the most common financing options, and the major considerations for each.

Save up

Are you a patient Pat? If you’re not in any rush to secure your spa pool, you could simply try to save the necessary funds. This is certainly the most financially responsible and secure option, as it avoids accruing any sort of debt.

But while it is a well-intentioned idea, the truth is that for most Kiwis, saving thousands of dollars isn’t a quick, easy or particularly realistic pursuit. If saving that sort of money was simple, everyone would be doing it.

Use your credit card

If you’re hoping to enjoy the perks of spa pool ownership sooner rather than later, you may have a means to do so in your purse or wallet right now: your credit card. But while the temptation might be great and the purchase process pain-free, you should think carefully before using this magical piece of plastic.

First, your credit limit may not cover the price of your preferred spa. And even if it does, a credit card can seriously increase the true cost of your spa pool if you don’t pay off the debt in quick time. With interest rates currently hovering around 20% or more, you could soon be faced with hundreds if not thousands of dollars of interest, and by utilising all available credit you could render your card useless for months on end.

Re-mortgage your home loan

If you are currently paying off a property purchase, you may have access to the necessary funds. When done well, re-mortgaging/refinancing your home loan can see you obtain a spa at an interest rate far below that of a credit card, by simply tagging the purchase onto your home loan.

There are a couple of negatives however. You first of all need a mortgage to refinance, and even if you have one, this option is the path of greatest resistance - there is a lot of paperwork and red tape to fight through, and there’s no guarantee of success.

Buy a cheap spa

If you don’t have the money for a fancy model or a big name brand, why not get a cheap equivalent? Getting a spa with a sticker price half that of a premium model can initially seem like a shrewd financial move, but it certainly won’t turn out that way in the long run.

You get what you pay for, as the old saying goes. A cheap spa pool will inevitably end up costing you more than a premium model over the long haul. It will wear and break down far sooner, and need to be either repaired or replaced. It won’t be as cheap to run as a premium equivalent, with inefficient motors and bad insulation resulting in high power bills. In short, it won’t turn out cheap at all.

Retail financing: the smart financing option

There is another option however, and it can see you acquire a premium, efficient and long-lasting spa, as soon as you’d like, with minimal fuss and at an interest rate far below that offered by your credit card: retail financing.

You can think of retail financing as a low-cost personal loan. It provides a lump sum to be used for a specific purpose – in this case the purchase of a spa – that is paid back each week, fortnight or month until your balance reaches zero. Retail financing typically features lower interest rates than credit cards (in the case of FinanceNow - Hot Spring’s financing option - it is less than half the median credit card rate at the time of writing), and because you have a one-time contract created for a one-time purchase, you enjoy security and stability over the long-term.

This makes retail financing very different to credit cards, which offer a line of credit with a revolving balance based on your spending. A significant credit card purchase can see you use up the available credit until you pay a significant portion back, rendering the card temporarily unusable. Credit cards also tend to have high interest rates (currently ~20%), making large expenses even larger.

In short, retail financing is more affordable, stable and simple than making a spa pool purchase on your credit card.

How to apply for Finance Now

Applying for Hot Spring Spa’s Finance Now retail financing is super simple:

  1. Save time and get started with our online pre-approval process by signing up here.
  2. Receive our Finance Calculator straight to your inbox and find out how much you can borrow and complete your application.
  3. Carefully read our financing terms and conditions to ensure you’re fully aware of the rules and obligations.
  4. Speak to our in-store or online teams to help you choose your perfect spa or swim spa.
  5. Sign on the dotted line and begin to enjoy all the benefits of spa pool ownership!



To enjoy the endless financial and health benefits offered by a spa pool, you’ll need to make that initial investment. Thankfully Hot Spring’s no deposit retail finance packages make that an option for almost anyone.

Speak to our friendly team today about Finance Now and get soaking sooner.

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