I would worry about 2 basic things
1) Energy efficiency. If this is as well insulated as I suspect that money you think you are saving will just be given to the utulity company monthly. They ALL say they are well insulated and have a story for it but there are huge differences between the haves and the have nots. A poorly insulated spa in an area like yours can cost $40-80+ more per month on average to operate.
2) Quality. In general how well is it made? Plus, your current spa needs repair; does that mean you don't usually tackle these things? Does this "wholesale direct deal" come from a local dealer who will cover these problems under warranty at least? If so is this someone who has carried them awhile so they know the product and can you expect them to still be carrying this product a few years from now?
You don't have to spend $10k to get a quality made spa. If your budget is less look at some of the other options from the top spa makers.