Can You Qualify for A Loan for Cosmetic Surgery?

More and more people are turning to cosmetic surgery to alter their appearance or for anti aging.  Youth and beauty are valued in American society and as the population lives longer, stradegies to appear younger are increasingly popular. Anti aging cosmetic surgery is often not covered by medical insurance and it can be expensive.

Cosmetic surgery can improve the quality of life for young and old alike.  It can give an individual more confidence and self esteem.  In career situations, appearing younger can improve job opportunities.  Since most cosmetic procedures aren't covered by insurance, some people think they cannot get the surgery.  That's where financing helps.

If your credit is over extended, or if you are young and have no credit history, you may believe you will be unable to qualify for a loan.  There are lenders who specialize in loans for cosmetic surgery and there are even some credit cards that are designed to be used for health care.

All Inclusive Fees

Some cosmetic surgeons, who have outpatient surgical facilities, will offer an all inclusive price on a cosmetic procedure.  Cosmetic procedures often include expenses in addition to a surgeon's fee, like fees for anesthesia and surgical facilities.  An all inclusive fee makes financing easier since it supplies the total cost up front.  Other wise it may be difficult to determine the exact cost of your surgery in advance.

Loans for cosmetic surgery are unsecured loans, that is, there is nothing of value that the lender can recover if you default on your loan.  You may be able to qualify for a loan for cosmetic surgery if you need the surgery for medical or job related reasons.  The interest rates on unsecured loans are much higher than those on secured loans because the risk is greater.  If you own a home or other property with value, you may want to apply for a secured loan to cover the cost of your surgery.  A home equity loan may have interest rates that are half the rates of unsecured loans.  Check with several lenders for cosmetic surgery loans, and compare interest rates, before applying for a loan.

Deciding To Borrow

For individuals who are sufficiently motivated to have the surgery, financing and interest rates will not be a bar to treatment.  Younger patients with no credit history will be able to establish credit by paying their loan on time.  Prompt payment of the loan will make it possible to get lower interest rates on future loans. It does pay to compare the rates of different lenders and get the most favorable rate and terms available.  Even if you have some negative credit history, you may be able to find a lender who specializes in medical loans.  The surgery is an investment in an individual's future, and that may offset other considerations.

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