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Acquiring financing for a swimming pool can be
accomplished in a variety of ways. The most obvious is way to
go to your financial institution and apply for a personal loan.
This is probably the most efficient cost effective way. Personal
loans interest rates are quite attractive now. Another way is
to tap into your home equity line. This can get a bit tricky,
because recent property devaluations throughout the nation have
taken this option away from many property owners. Many people
who believed that heir home equity was an ace-in-the-hole for
them, have recently received a reality check upon application
for opening a home equity loan or extending an existing credit
line. Therefore, before going through this process, check with
your financial institution first about your "new " property
Financing through a credit card is another option.
I know this may seem crazy to some because of the usurious interest
rate charges associated with credit cards, but, many times, credit
card companies offer low or interest free purchases for extended
periods of time. I receive offers like these all the time. Although
I am not recommending this as a long term financing option, it
can get you that pool and give you some time to find a more permanent
fix. as long as you are a good timely payer, you will receive
the offers also.
Many times the pool company will offer financing
to their clients. In fact, most companies do. A word of caution
here is important. Many times the interest rate that these companies
charge is much higher than the rate you can get yourself by doing
just a little legwork. It si important that you \keep these companies
honest. Pool company financing is certainly easier in that it
is a one-stop procedure, but, as stated, keep' em honest by checking
Lastly, there are some companies that will "in-house"
finance. By that, I mean that hey will hold the loan themselves.
Another word of caution here, the price of the pool and its installation
will probably be higher because of the pool company's risk. I
would only recommend this as a last option. It is costly and comes
with restrictions. Check with your pool company, and have these
caveats fully explained.
Do not enter into a contract with any pool company
unless you are fully knowledgeable about the consequences and
terms of your financing. Be comfortable with your choice and enjoy
*Disclaimer: We do not endorse any of these businesses. Some of these business
establishments may not offer bad credit financing and some may run your credit.
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