Cosmetic Surgery Loans – Is Finance Still Obtainable?
Cosmetic surgery is as popular as ever as more women, and even men, seek to improve their physique. Is the recession making it more difficult to arrange finance for cosmetic surgery procedures?
Advances in surgery present more ways for men and women to improve their bodies and boost self esteem. There are now very few external parts of a person that cannot be altered, improved and tweaked to bring the physique in line with expectations and the desire for the perfect physique.
Whilst this may present a wonderful opportunity for the person to delay the visible effects of age or correct a “feature” of their physique, the costs of cosmetic surgery can be prohibitive for many.
Procedures involving a general anesthetic, generally start at £2000 and can extend to £10,000 and beyond, depending on the nature of the procedure and the costs of the surgeon and other medical staff.
This may mean that a loan or other finance is required to pay for the desired surgery. Whereas a year ago, cosmetic surgery loans were readily available, the credit crunch has forced lenders to tighten their lending criteria significantly.
This means that finance is harder to obtain, however it is not impossible to secure a loan if you have a clean credit history, can demonstrate the ability to repay the loan, as determined by employment status and family circumstances.
Personal loan rates are actually starting to fall slightly in the UK. One of the biggest Building Societies, for example, is now charging below 8% for unsecured loans. This finance can be for any purpose, including plastic surgery.
So if you are tempted by the many cosmetic surgery procedures available now, and you have a suitable credit rating and financial well being, then you will be pleased to hear that arranging finance for your surgery is still possible, even after the credit crunch.
If you are considering a boob job then you may well be interested in our article about how to arrange cosmetic surgery loans.
Surgery Financing FAQ:
Question: What are some good plastic surgery financing companies, and why?
I am planning on financing a breast enhancement and a tummy tuck sometime soon and I would like to know if anyone has any opinions some of the financing companies out there.
Answer: CareCredit is a very good financing company for medical procedures. I work in ophthalmology and our patients often use it to finance LASIK procedures or cataract extractions with premium lenses. The first 12 months are at 0% interest, and at the moment they may be offering 0% for 18 months.
Question: What happened to Doctors Say Yes plastic surgery financing?
There used to be a company called Doctors Say Yes that guaranteed plastic surgery financing regardless of one’s credit. They still have a website but there is no way to contact them, and the old number for them says something different. Anyone know what happened to this company or if there are anymore companies like them out there?
Answer: I wouldn’t doubt it if they are out of business. I used them for my breast implants. The process was fast but their customer service for doctorssayyes was horrible. I hated the financing company but my doctor was awesome! The cool thing was I was able to use them for my surgery in Mexico so instead of paying $6,500-$7,000 through one of the local doctors they had. I only had to pay $3.500 including hospital fees and stuff in Cancun. It was a awesome experience.
Question: Know anything about plastic surgery financing?
With the economy and financing so hard right now, is plastic surgery financing the same? I don’t have great credit. I am currently financing a car though but my mom cosigned. Please if you know anything about financing cosmetic surgery please tell me.
Answer: Last year my step mom got cosmetic surgery and the results look really good so far. Where I live there are certain surgeons that are better than others. I’d consult cosmetic surgeons in your area and see what they have to offer. They should be able to answer your questions.
Question: Are there any cosmetic surgery financing companies with loans, credit to those wanting cosmetic procedures?
Loans / Lines of credit for those wanting cosmetic procedures? Taking down payments, as collateral, or special circumstances such as these?
Answer: First a down payment is not collateral. If you qualify for a personal loan or line of credit, the lender is not going to care what you plan to use the money for, only that you will be able to make your payments.
The cosmetic surgeon may be willing and able to accept monthly payment over a period of time or to assist you in arranging financing.
Another option you should consider is making the payments first (saving up the cost) and then having the procedure.
Question: What does financing mean when you pay for surgery?
Financing means paying little by little until you’re done paying for it right? Is that what it means? I’m planning to have surgery on my nose, and my parents said that they’re not gonna pay for the whole thing in one day cuz they don’t have enough money to afford it but they can pay little by little, though, until they are done paying for it. So I was wondering if that’s what financing means?
Answer: Financing means you are going to go through a bank or another entity to BORROW the money and then pay it off in payments (usually monthly but sometimes once a week or every other week). When you finance something the bank will charge the person interest for borrowing the money.
The interest is extra money the borrower pays for getting the money. For example. When you finance a car, you may only BORROW 20,000 but over the length of time you pay off the loan, you actually pay closer to 25,000 because of the interest. When you make a payment, only part of the payment goes towards what you borrowed, the rest goes towards interest.
So if your car payment is 1000 a month, then it could be that only 800 of it goes towards paying off the 20,000. The extra 200 is payment towards the bank for letting you borrow the money.
Question: Where can I find financing for plastic surgery?
I am wanting to have some cosmetic surgery done but my credit is not the best, does anyone know of a good company to go through?
Answer: Medicredit is pretty good. My wife got her credit card through them for a breast augmentation. The interest rate will be high, but that’s just a given.
Question: I have no credit and am trying to get financing for cosmetic surgery is it impossible without a cosigner?
I am currently living in a guest house with no rent, and have no other bills to pay. My job doesn’t pay bad, and I could easily afford the payments. Perhaps there is a place you know about that will work with me even though I have no credit at all. I’m only trying to finance $5100.00
Answer: Why don’t you just save up the $5,100? It shouldn’t take long considering you don’t have to pay rent and have no other bills. If that’s not an option you could get a personal loan from a credit union or check with the surgeon to see if they offer a financing plan.
Question: Financing for Cosmetic Surgery in Canada?
I live in Canada and I am trying to obtain financing for my cosmetic surgery. I have a poor credit rating.
Answer: Sorry. Cosmetic surgery isn’t covered under Medicare, unless it is for something non-elective, such as burn victims. So you would have to pay the full shot yourself. If you have a poor credit rating, you may have to postpone your surgery until you have the money to pay for it.