Are you facing a large dental procedure, such as dental implants and wondering how you will ever afford it? Don’t let the cost deter you. Everyone deserves a healthy smile that they love!
Today there are many options for financing dental implants and other major dental procedures, whether planned or a sudden emergency, check out your options below.
Get a Medical Credit Card
Not your typical credit card, a medical credit card covers medical charges only including dental procedures. You can typically apply for the card right at your dentist’s office or online before you go to the dentist. Choosing a card right in your dentist’s office ensures that the dentist accepts the card, as not all dentists accept all payment methods.
Certain medical credit cards offer 0% APR for procedures of certain amounts while others offer extended financing terms, but charge interest. A few popular examples of a medical credit card include CareCredit and MedKey. Both cards charge interest, but offer tiered pricing and term options. Make sure to read the fine print so that you understand the new debt.
Dental Loans
If you don’t want a medical credit card, securing a dental loan right from your dental practice may help too. Companies like Greensky and ProceedFinance offer unsecured loans that allow you to have your dental procedure done without the worry of how you’ll pay for it and you don’t have to put up any collateral.
When you take out a dental loan, pay close attention to the APR and the term. For example, Greensky offers alternatives for financing dental implants and other dental procedures. If you are having a one-time procedure, they offer an installment loan with limits up to $65,000. If you’ll need multiple visits or recurring procedures, they also offer a revolving line of credit up to $25,000 with promotional pricing.
How to Choose the Right Option
When financing dental implants or any other dental procedure, you need to know your options. Before you choose, consider the following:
- Know what’s covered – Not all medical cards or loans cover every procedure. Ask in-depth questions regarding the procedure you’re having to ensure that it’s a covered charge.
- Make sure your provider accepts the payment option – Beyond the procedure, you have to make sure that your provider accepts the option you’ve chosen to cover your dental procedure. Most companies have a list of providers on their site or you can ask your dentist directly.
- Know the APR – Most companies offer tiered rates and have different term requirements. Know what you can afford and how it will affect your APR. Don’t assume you’ll qualify for promotional financing either. Read the fine print and ask questions.
- No matter which option you choose, use it responsibly. Don’t take on debt that you can’t afford as most companies report to the credit bureaus. Take into consideration the minimum monthly payment, the APR, and what the loan will cost you over its entire term before making a decision.
Article originally published at yournewteethnow.com.