The Ultimate Guide to Financing Elective Cosmetic Procedures


There are various opposing opinions about elective cosmetic procedures but statistics show that plastic surgery is on the rise. Realize that cosmetic surgery includes everything from dental implants and lip fillers to hair restoration and liposuction. Although plastic surgery is rarely medically necessary, it is said to improve self-esteem and confidence immensely. With that said, everyone knows that cosmetic surgery typically costs thousands of dollars. If your bank account isn’t flush with cash then you will need to find another way to come up with the cash. This guide will go over all of the pros and cons of every plastic surgery financing option available so that you can fully realize your beauty dreams.


Paying for Plastic Surgery in Cash

Before deciding on what kind of financing option to use to pay for a cosmetic procedure you need to get accurate pricing information. This can be achieved by scheduling a consultation with the plastic surgeon you want to carry out your procedure. In addition to paying for the actual procedure, you might also need to consider the cost of recovery, supplies, and travel. The Philippines has become a popular destination for those looking to save on cosmetic procedures, but don’t forget that you can’t fly home as soon as you go under the knife. A lot of people end up paying for their procedures in cash when the total cost of surgery is estimated to be less than a couple of thousand dollars. You could save up for surgery for a year, sell off a few pieces of jewelry, or even cash in some of your investments to pay for a relatively inexpensive procedure.


Using a Credit Card to Pay for Your Procedure

One of the most popular cosmetic surgery financing options is using a credit card. Often, plastic surgeons require patients to secure their spots by paying a deposit. If you use a credit card to pay for part or all of your procedure, you have a few protections. First, you will have at least a 45-day window to change your mind and request a refund from your credit card company. Paying with a credit card also provides you with proof of payment. It doesn’t happen often but sometimes payments made via cash, check, or money order can be misplaced, causing undue delays and complications. The downside to paying for plastic surgery with a credit card is that you will more than likely end up paying interest.


Traditional Bank and Personal Loans

Mortgages are used to finance the purchase of homes while auto loans are acquired to buy cars. Personal bank loans can be used to pay for whatever you want. You can get a loan from a traditional bank when you have good credit and have a dependable source of income. Getting a personal loan through a bank also means that you should qualify for a fairly reasonable interest rate. On the other hand, being approved for a personal loan isn’t all that cut and dry. Different banks have different underwriting criteria, so you could end up needing to put up collateral to get funding. It is also usually easier to get approved when you have an existing, long-term relationship with the bank you apply for a personal loan through. Sometimes applicants end up getting approved for personal loans but for smaller amounts of money than they request.


Crowdfunding Your Plastic Surgery Fund

Websites like GoFundMe are generally the first place that people turn to when they are in a major financial crisis and need to depend upon the goodwill of perfect strangers. People have crowdfunded the cost of funerals, college educations, and yes, even cosmetic procedures. The good news is that there is no cost associated with crowdfunding. The more that you share and publicize your story, the bigger your chance of getting people to donate. Note that crowdfunding can also open you up to public scrutiny, so don’t take it personally if you set up a profile and end up getting a few judgmental comments. At the end of the day, the worst that can happen is that you spend some time setting up a campaign and you end up getting no donations.


Microloans and Non-traditional Cosmetic Surgery Financing

Not everyone is able to get a credit card, be approved for a bank loan, or even crowdfund their way to meeting their plastic surgery finance goals. This is when non-traditional funding should be looked into. First, there are microloans, which are basically loans that are funded by multiple sources. Microloans are typically funded by small scale investors looking to make money by diversifying. There are also non-traditional no credit check loans that are excellent for those with high debt to income ratios, poor credit, or a limited credit history. A no credit check loan is largely based on your verifiable monthly income. As long as you can prove that you have the means to pay one of these no credit check loans back, you can expect to be approved. Of course, non-traditional financing options such as microloans and no credit check loans also mean that you have to pay compounded interest in addition to the principal amount of cash borrowed.


Specialty Financing for Elective Medical Procedures

Since plastic surgeons are in the business of making people more beautiful, they often offer their own speciality financing options. Companies like CareCredit cater to plastic surgery hopefuls looking to finance pricey procedures. Specialty financing for cosmetic surgery is especially attractive to those looking to have multiple procedures done. You can potentially have tens of thousands of dollars of cosmetic procedures paid for via specialty financing, but you will be charged a high interest rate. This may be the option for you if you want fast financing approval so that you can be scheduled for your procedure as soon as possible.

For many, undergoing a cosmetic procedure can enhance their quality of life. While there are risks associated with this category of beauty procedure, it is also true that there is no reward without risk. If plastic surgery is something you have been pondering, do yourself a favor and find out whether it is a tangible option for you. Learn how much the procedure is going to cost. Look into the recovery process. Find out if you can afford it. Decide whether making this type of sacrifice will make you feel like a better version of yourself or not.

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