Cosmetic Surgery: What Financing Options Are Available?
For the vast majority of people in the United States, health insurance is not going to cover cosmetic surgery. This poses a problem for many people, as few have five or ten thousand dollars just lying around that they can use for an elective procedure. The bright side is that many clinics and doctors now offer financing options. That is right, you can pay for your procedure on a time table that is comfortable for you, rather than having to provide all compensation out of pocket right up front.
Of course, financing your cosmetic surgery through the clinic is only one option. If you want to keep it a part of your possibilities, make sure you know the terms of the financing agreement. Do not agree to anything you cannot afford to pay. You will also want to note the interest rates. Typically, you can get fairly good rates by financing in this way, but not always. You do not want to provide more compensation than is absolutely necessary, and you will not want to find yourself in a position where you are forced to make late payments or miss them altogether. With most financing agreements, the interest rates will go up if your payments are not regular and on time.
Another option is to use your personal credit card to provide compensation for the cosmetic surgery. This is a fine idea if you feel confident in your ability to pay it off in a couple of months. If it is something that will take you several months to a year to pay off, you should find almost any other method. Credit card interest rates are usually the most exorbitant of all your options.
A final option is to take a personal loan out from your bank. If you have a good credit history and your account is in good standing, this might be your best bet. You will get a good interest rate and the terms of repayment should be satisfying. Do not put things such as your car or your mortgage up for collateral unless you are absolutely certain of your ability to pay off the loan in a timely manner. No elective procedure is worth losing your valuable possessions over, much less taking a huge hit on your credit report. Think about the most conservative option, which is to simply save the money until you have enough to pay for your procedure up front. That way, you will not have to worry about financing charges at all.