Plastic Surgery Financing
Plastic surgery financing is no different than any other type of financing. However, it's more comparable to credit card financing, rather than mortgage or automobile financing, because plastic surgery financing does not provide the financial institution with any collateral. Because there is no collateral, the rates are usually higher than secured loans. Expect to pay real rates of 9.99% to 23.99% depending on your credit score.
If you need a loan for your plastic surgery procedure, you have come to the right place. We can help you avoid making financial mistakes. Because of our discounts, your monthly payments are guaranteed to be less than trying to finance a procedure at full price anywhere else.
Seven Rules to Lower Your Financing Costs
Rule 1: Don't finance unless it's absolutely necessary. If you finance, finance as little of the procedure as possible. Consider saving money for months before you have your surgery. Don't forget that financing will increase the total cost of the procedure for you.
Rule 2: Don't apply to more than one financing company at a time. Each time you apply for credit it lowers your credit score. Know your credit score before you apply! Go to places like Annual Credit Report to find out what your score is. Before you apply, call the financing companies. Ask them if you will be able to get a loan with your score and find out what they will charge as an interest rate. Also ask them how much the doctor has to pay them, because that will affect your total discount. Compare rates by calling other companies. When you are sure you will get a loan at a certain rate, apply only to that company.
Rule 3: Fill out your application completely. Do not leave any blank fields. If a bank does not have all your information, it may hurt your chances of getting a loan. In particular, answer the questions about your employment accurately.
Rule 4: Show steady employment and income. Do not show empty holes in your employment record. If you are self-employed, name the company you have created as your employer and call yourself the CEO or president. If you are in a trade where you change employers often, mention that you are a contractor, such as an Independent Rep, and that you have represented different organizations over the years.
Rule 5: Fill in your marital status. The law does not oblige you to fill in information about your marital status. However, we encourage you to do so, especially if you are married and your spouse is supporting you. If you have not been married for very long, make sure you make note of your maiden name on you application. This way, at least one name will match a credit report. With a copy of your credit score, you should know which last name is best to use.
Rule 6: Don't forget any income sources and don't double up expenses. If you have any kind of additional income, regardless of where it comes from or how much it is, add it. This could be rental income, interest/dividends on investments, or money you are receiving from your parents. If you are living with someone and you share rent or expenses, show only the portion that you pay.
Rule 7: Use the address on your credit report. Don't provide a new address that is not the same one as your credit report. Only use a PO Box if it is part of a rural or military address, or if you have been using it for longer than 3 years and it is on your credit report.