Global Courant
While plastic surgery procedures were once seen as activities for wealthy people to spend their excess money on, they are now more accessible to the mainstream. The main reason that “regular people” can undergo surgical procedures that were once considered off limits is due to funding. It is now possible to finance and pay for your cosmetic surgery just as you would with any expensive product that you couldn’t afford all at once.
Some surgeons have financing options available through their office, while all other common financing options are also in play. Some of the procedures that patients are considering financing include facelifts, liposuction, breast augmentation, lifts or reductions, arm, thigh and buttock lifts, nose or ear reshaping, facial implants and some injectable treatments.
Most cosmetic surgery procedures aren’t exactly cheap, and unless there’s a medical reason to get it, your insurance probably won’t help at all. Some of the common cosmetic surgery financing methods include a line of credit, a regular credit card, a specific medical credit card, and a payment plan directly from the surgeon’s office. You can also take out a regular loan and pay for the procedure that way.
Of course, financing your plastic surgery has its good and bad points. Here are some of the pros and cons to help you make a decision before your procedure.
Advantages
The most obvious benefit of financing your plastic surgery is that you don’t have to wait to proceed. Whatever specific treatment you want, chances are you want it because of a current problem with your body or your face that you corrected as soon as possible. If you finance it, waiting is no longer a problem. Here are some of the benefits, further broken down by financing method:
• Ordinary credit card – you can usually get low interest cards and actually build your credit during the repayment process. If the card offers points programs, you can take advantage of those as well.
• Medical card – where these are available they often offer zero percent interest promotions and can also give the user a sense of control over spending as they are only used for one thing.
• Credit line – a revolving line of credit from your bank usually offers very low interest rates, and sometimes your payments are only interest-only, which is another attractive feature.
• Surgeon payment plan – surgeons want your business, so they will often work with patients to create a plan that is customized for your situation. Missed payments are also usually not reported to a credit bureau.
• Bank loan – a loan from the bank offers decent interest rates, but there are more disadvantages than advantages.
cons
The most obvious downside to financing your plastic surgery is that you now owe a few thousand or several thousand dollars, with an interest rate attached. Some of the others are as follows:
• Ordinary credit card – with your regular card, you may not have enough room to cover the surgery you want, and you have a few thousand dollars available credit tied up until you pay it off.
• Medical card – some argue that these types of cards are associated with high-pressure sales tactics and interest rates much higher than advertised.
• Credit line – just like with your credit card, using a line of credit to finance your plastic surgery will take up available credit that you can’t use if emergencies arise.
• Surgeon payment plan – It’s important to read the fine print to see how interest rates change over time, and while your credit history won’t be affected, missing payments could prevent procedures from being performed by the doctor in the future .
• Bank loan – Confidentiality may not be high on the agenda when using a bank loan, and many patients are not interested in anyone knowing what they are doing when it comes to cosmetic surgery. There is also a chance that you may not be able to get enough to cover the entire procedure.
Pros and cons of financing your plastic surgery
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