How To Finance Your Plastic Surgery
Some people who want to have plastic surgery worry that they won’t be able to afford the costs and so they end up waiting to have a procedure and missing their optimum window of time to go under the knife. That may mean they skip out on surgery during a period of great health, or they simply put it off for too long to be looking their best for the holidays or a special event. So many different types of people get plastic surgery and many of them are just like you. The truth is that many patients who think they can’t afford a plastic surgery procedure definitely can as long as they use one of these three easy financing methods.
1. Get a Loan
Getting a personal loan to finance plastic surgery is one idea that works for many patients. A lending institution will give you the money you need and then you will pay it back to them in fixed payments over a period of time. There are even lenders, like United Medical Credit, that specialize in medical loans and offer competitive interest rates. If you’ve got mediocre credit, using this method to finance your plastic surgery can actually raise your credit rating as long as you keep up with payments over the long term.
2. Take Out a 401k Loan
If you’ve got some money put away for retirement in a 401k account, you can actually use that capital to take a 401k loan out without affecting your overall retirement savings. You can borrow up to $50,000 as long as that is 50 percent or less of your total holdings. You can repay the amount back through your paychecks over a period of up to five years. This is a great option if you plan on keeping your job until you pay the loan back because those who leave before the time is up, face a 10 percent penalty. The other downside of this option is that you end up getting double taxed when you pay the money back, but for many, this easy method of payment is worth it! On the positive side, if a poor credit history prevents you from getting a competitive interest rate for other methods of borrowing, a loan against your 401k may be the best option.
3. Use Credit Cards
Credit cards may be the most popular option to pay for plastic surgery. It’s not much different than a loan of any other type. The trick is that you must have a borrowing limit high enough to cover the costs of the surgery. For that, you might need a long credit history with a proven track record of paying your bills on time. Like loans, there are specifically medical credit card companies like Care Credit and Alphaeon Credit that take into account the unique needs of medical patients. They tend to offer more flexible payment plans and some low- or no-interest options for those who qualify.
Now you have absolutely no excuse to put off getting plastic surgery any longer. You don’t have to pay for it all at once. You can take out a loan or use a credit card in order to break the cost up into manageable payments that you can pay off easily over time. Your finances should not hold you back from looking and feeling your best. Schedule a consultation and find out which financing option is best for your procedure and personal financial situation.