How to Finance an Above-Ground Pool

An above-ground swimming pool can mean summertime fun in the backyard, but installing one can cost a thousand dollars or more. Paying with cash is an interest-free way to cover the cost of a pool, but financing options can help spread payments over time.

Can you finance an above-ground pool?

You can finance the cost of an above-ground pool a few different ways. Credit cards, “buy now, pay later” plans and retailer financing let you borrow money and make payments until the amount is paid off. The cheapest option offers zero or low interest.

Pool loans are another way to finance your above-ground pool. These loans are unsecured, so there’s no collateral, but interest rates and loan amounts can be higher than alternatives.

If you have fair or bad credit (a score of 689 or lower), look for pool financing options with low or no minimum score requirements and check your budget to ensure you can repay the loan on time.

Ways to finance an above-ground pool

A credit card is a convenient way to finance an above-ground pool, but interest rates can be high on unpaid balances. One way to avoid interest is to use a card with a 0% introductory rate, which allows interest-free payments for 15 to 18 months. After that, the regular variable interest rate kicks in. You typically need a good or excellent credit score (690 or higher) to qualify. 

Pros and cons of financing an above-ground pool with a credit card

Pros


Can be used nearly everywhere.

Allows for a fast purchase.

Can be interest-free if paid off in full each month or if you qualify for a 0% card.

Cons


Need good or excellent credit to qualify.

Interest rates are variable.

High interest rates can make the cost more expensive.

When it’s best: Consider a credit card if you qualify for a 0% APR card or you can pay off the cost of the pool before your next statement. Credit cards can be helpful if you want the flexibility to add items like ladders or heaters later on.

Buy now, pay later” plans let you break up the cost of an above-ground pool into equal biweekly or monthly payments, sometimes at zero-interest. Stores like Walmart and Home Depot offer BNPL plans from Affirm or Afterpay online and in-store. There is no minimum credit score required, but providers run a soft credit check.

It can be easy to overspend with “buy now, pay later” so ensure you have a plan for making all the payments. Some BNPL providers report late payments to credit bureaus, which can hurt your credit score.

Pros and cons of financing for an above-ground pool with buy now, pay later

Pros


Zero-interest plans available.

No minimum credit score required.

Available at major retailers online and in-store.

Cons


Some plans may charge fees.

Longer-term plans may charge interest.

Returns can be difficult.

When it’s best: Buy now, pay later works best when you qualify for a zero or low-interest plan and the payments fit within your monthly budget.

Some pool retailers provide financing with lower rates when compared with options like a credit card. Retailers typically require an application and credit check to determine your loan eligibility.

Consider pool retailer financing if you understand approval requirements and the loan terms. Compare offers with other financing options to make sure you’re getting the lowest APR for the loan.

Pros and cons of pool retailer financing for an above-ground pool

Pros


Purchase and financing through the same company.

Cons


Not available with all pool retailers.

Financing may only be available on certain pool models.

May have a minimum credit score.

When it’s best: A pool retailer is a good financing option when it’s available for the pool you want, there are no fees and you qualify for a low rate.

Pool loans are personal loans you get from a bank, credit union or online lender that you use to finance a new pool. Loan amounts range from $1,000 to $50,000, and the funds are distributed in one lump sum. These loans come with fixed annual percentage rates, so your monthly payment won’t change, and terms typically range from two to seven years.

Rates on personal loans are from 6% to 36%, and borrowers with good to excellent credit typically get the lowest rates. Many lenders can provide same-day approval and funding.

Some personal loan lenders offer home improvement loans specifically to bad credit borrowers. These lenders will consider factors beyond credit score, like your monthly cash flow and employment history, but loan rates are higher.

Pros and cons of financing for an above-ground pool with pool loans

Pros


Fixed APR and monthly payments.

Cons


Starting loan amounts can be high.

May charge an origination fee.

Can’t request more funds for surprise expenses or additions.

When it’s best: A pool loan can be a good choice when you need a high loan amount, fast funding and you qualify for a low APR.

How much is an above-ground pool?

The cost of an above-ground pool can range from about $1,000 to $6,000, according to home services website, Angi. The pool’s size, type and additional features will determine your overall cost.

Once the pool is installed, you will need to budget for ongoing costs, including cleaning, water filtration, chemical balancing and repairs. This can cost a few hundred dollars a month, depending on the size of the pool.