Financing 101

Everything you need to know about financing your pool, hot tub or swim spa.

Bring your dreams to life faster with financing

Many people have been dreaming of a new pool, swim spa or hot tub for awhile, but a big lump sum payment might make these dreams seem out of reach. 

That’s why financing can be a good option for anybody with solid monthly income, who does not want to dip into their savings.

Step 1: See what you can afford

It may be tempting to just apply for financing right away, but we recommend getting a good sense of what payments you can afford before moving forward. Luckily our financing partner offers a helpful payments calculator right on the payment form! 

Let’s look at some examples to give you a better sense of what financing can do for you. Let’s say you buy a new inground pool for $55,000. Based on the current interest rate of 13.99% and a 240 month loan period, your monthly payment would be $747.52 each month. 

This payment would be locked in for the 60 month (5 year) duration of your term, and would likely go down in the future as interest rates are currently at multi-decade highs. 

A $30,000 swim spa with the same terms would require a $374.69 monthly payment. Meanwhile a $15,000 hot tub would only cost you $188 per month. 

Play around with the numbers a bit on the calculator to see what feels right for you. If this is something you think you can afford, the next step is to apply.

Step 2: Apply and get approved in minutes

Buds partnership with Financeit makes applying for financing easy. Simply get started with the easy online form. You’ll know whether you’ve been approved within minutes. Once you're approved, you’ll be ready to buy!

Step 3: Make sure you really do the math

Financing can be a great option for many buyers, but it's all based on your personal circumstances. If you have good cash flow and want to get your pool while your kids are still young, it can be an excellent choice. 

However if there is no rush, it may be worth saving the money up front and waiting a few years to make your purchase. If you go this route, you’ll likely be able to afford an even better option, and will save yourself significant interest payments down the line.

Ready to Learn More About Financing?

Buds has great financing options for all of our pools, hot tubs and swim spas.

Click the links below to learn more today!