Plastic surgery is seen as a reliable and relatively simple way of correcting or adjusting things about ourselves that we do not like. Many people do not want to go through life burdened with a nose, fat deposits or a sagging face that depresses them every time they look in the mirror; however, plastic surgery can be expensive, depending on the procedure and the surgeon, and sometimes the desire to change part of the body gallops ahead of the ability to save up for the cost. As plastic surgery has become so common, it is now possible to find ways to finance the plastic surgery you desperately want, and the confidence boost from surgery may well be priceless.One way of paying for surgery is to take out a personal loan from your bank. This type of loan should have a fixed interest rate – as low as possible – to be paid back over a fixed term. If you are totally confident of making all the payments, you could negotiate a secured loan, which is one that uses an asset as collateral. This type of arrangement could boost your credit score; however, default on the payments and your credit rating will plunge. If you have a secured loan and default, your asset could also be seized by the bank. Your bank may not approve a loan for plastic surgery, however, so you might need to look elsewhere.
Another source of finance is a medical loan that is unsecured. A doctor can help to broker this. There are also finance organisations that specialise in funds for plastic surgery procedures; however, with any undertakings of this type, you must read all the fine print and know exactly what is involved and what will happen if you default on the payments. Plans of this type generally involve a deposit and then a repayment scheme spread over one to five years. The interest you will pay on a loan of this type is a significant factor to take into account. It pays to shop around and see what interest rates are being offered and whether there are incentives or penalties for paying the loan off early.
Another option to pay for plastic surgery could be obtaining a medical credit card. This type of credit card can only be used for medical procedures. Shop around – as you would with a normal credit card – to find promotional offers, such as no interest for a specified term, or favourable interest rates. The temptation can be to keep spending on more procedures, but it is a more prudent idea to pay off a procedure before the next one is booked. Be realistic about what you can pay off each month.
You could also use a credit card that is already in your possession, although you would need to check that the credit limit covers the cost of the surgery. Interest rates are again a factor to consider, as they will have a major impact on the total cost of the surgery.
If you have supportive family and friends, perhaps they will lend you the money. As a last resort, there is always the possibility of a home equity loan; however, this could put your home at risk.
Obtaining any type of loan or credit is something Elanic LTd would advise against, please talk to a member of staff about the financial options available to you before considering other options.