Cosmetic Surgery Finance

  

Deciding whether or not to get cosmetic surgery can be the easy part, finding the money for the procedure is often what prevents many people from realizing their aesthetic goals. But plastic surgery isn’t just for the wealthy anymore. Today there are many different cosmetic surgery finance and budgeting options to help those with average wages or few savings realize their cosmetic surgery goals.

Before looking into finance options, shop around for prices. Although it isn’t wise to compromise quality for a good deal, compare what different plastic surgeons have to offer. The most expensive surgeon isn’t necessarily the most skilled. Location also makes a difference in price tags. Big cities mean you’ll be spending more cash. Sometimes it is more cost effective to fly out to a qualified surgeon in a different city or state. You should be able to get a good idea of a general price range.

After you have a price, it’s time to start saving. Even if you have none to begin with, you normally have to wait anywhere from three to nine months before your scheduled cosmetic surgery. That gives you plenty of time to build up at least a little bit of cash to help pay for your surgery. The more money of your own you can put forward, the less stress you will feel, and you’ll be able to focus on recovery.

If you do choose to find outside financing, there will be many options for you to consider. Credit cards are a popular choice, but the interest rates are high. Instead of traditional credit, there are some companies that offer cards specifically made for plastic surgery. Some plastic surgeon’s offer finance options such as patient credit or loans. These are convenient and usually have reasonable interest rates. These special credit lines also offer extended repayment plans, fixed interest rates, and can help make budgeting a cinch.

Private loans are another popular option that may work for some patients. These can either be taken out with your bank, the plastic surgeon’s office, or special cosmetic loan companies. Be sure to read contracts and be clear on the terms of the loan before signing. You should be able to comfortably pay the monthly bill without too much sacrifice. Each application counts on your credit score, so it’s best to apply to only one or two.

If you’re still confused, your plastic surgeon’s office will often be able to steer you in the right direction. The internet is also has a wealth of information, but be sure that the companies are reputable before submitting any personal information.

Remember, you also have to budget for recovery, potential risks, and future check-ups. You’ll have to take some time off of work and pay for medication and other materials necessary during the healing process. You should also have some extra cash handy just in case of emergency, such as sudden complications that require medical attention. Cosmetic surgery can be a big investment, but it will last you a lifetime.

Author: A Aaronson

Cosmetic Surgery Finance presents the following fantastic article about the various cosmetic surgery financing options.  If you are unsure about which option may best fit your needs, you can discuss it with your cosmetic surgeon or even a financial planner.  Your cosmetic surgeon may have cosmetic surgery financing options for their patients that are at advantageous rates, with low monthly payments as well.   

When your insurance company doesn’t pay for cosmetic surgery because it’s elective, and you don’t have the money in the bank to pay up front, what are your options? Do you have to wait until you save up enough money before you can have the facelift, tummy tuck, or breast uplift that you want? That, of course, depends on your personal financial situation. You do, however, need to check into the options before you even go for your first evaluation.

Depending on the surgeon you choose, it’s possible you may find one who offers a payment plan right in the office. In most cases, this means you pay a certain amount down, and the doctor will agree to accept a set amount in payments each month thereafter. You want to be careful when using this option, because in many cases, the down payment is smaller in order to encourage patients to take advantage of it. However, the monthly payments may be short term, and thus much higher than what you can afford. Although this is not true all the time, it is in many cases. The reason is doctors want their money right away, and as such, they really don’t want to be stuck financing patient bills. Therefore, what they do is make it somewhat attractive by offering a payment plan, but at the same time, discouraging patients from using onsite financing because of the future high payments.

Another option is using your credit card, if you have enough available to finance your cosmetic surgery. Financing this way means you don’t have to pay a down payment, and you have low minimum payments. On the down side, cosmetic surgery is expensive, so you will tie up a good portion of your credit line. Of course, if you are financially sound and have a substantial credit line, it may not have a detrimental effect, especially if you have a card with a lower than average interest rate. If you had planned to pay a down payment, you can also do that and put the balance on your credit card. This will reduce the amount of your credit line that you tie up with your surgery.

A third option is applying for a personal loan at your bank. Of course, for those who have less than perfect credit, they may need to obtain some collateral such as real estate or a motor vehicle, but it’s always possible. If you already have an equity line of credit, you can use that as well, by just writing out a check against your available balance. There are always ways you can come up with the funds you need for different things, including that of cosmetic surgery. You may even choose to take a loan against your 401K plan if you have one, or take a loan against your savings account or other assets you may own. Make certain you know you can obtain the funding before you go any farther than the initial consultation. Make sure you can pay for the surgery before you schedule it and tie up the surgeon’s schedule.

Author: Amy Nutt

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