Getting money for plastic surgery may seem like an impossible task, but I can tell you that it's not! You can get financing for nose jobs, breast implants, facelifts, butt implants, Botox, and any other type of cosmetic procedure. There's loans for procedures that cost thousands as well as hundreds. We'll examine some reputable lenders and determine which one is best for you!
Am I a good candidate for a plastic surgery loan?
First and foremost, how much money do you need? If you're getting a procedure thats's going to cost anywhere from $1,000 - $10,000 then you'll need a credit line or personal loan. If you only need $100 - $1,000 then there's other options too - we'll get into that. Let's start with the more expensive option.
Care Credit is an excellent lender that is willing to help finance any type of cosmetic procedure. They actually give you a line of credit with 6, 12, 18, and 24 month repayment terms. Approval is based on your credit score, emplyment, and income. If you have at least a fair credit score then you'll have a good shot at getting approved.
You can get up to a $1,000 payday loan for bad credit from Smarter Payday Loans. Usually there no credit check and approval is solely based on employment and income. The only difference with this type of financing is that you're expected to payback the full amount by your next payday. Loan terms are usually 14 - 31 days and there's an average APR of $15 for every $100 borrowed. So, if you borrowed $300 for a Botox treatment then you would be expected to payback $345. This option is good for those who need immediate financing and are just short on cash until their next paycheck. To better understand this type of loan you should read the following two resources:
A secured personal loan is where you use something you own as collateral. The collateral, or "security, can be a home, car, stocks & bonds, a business, or pretty much anything else of value in your name. You'de be surprised what banks are willing to offer. The difference between a secured and unsecured personal loan is that if you default on a secured loan, the bank will sell off your security to recoop on their losses. This type of loan is only a good option if you're 100% sure you'll pay it back. It's more favorable for the borrower because the banks will offer better interest rates and longer repayment terms.
You can always ask your parents, spouse or reletives to finance your plastic surgery. You'de be surprised how often this occurs. If it's your parent or a reletive then you can setup a repayment plan where either you'll offer them interest, or they'll just take back the principal in good faith. Of course you can also offer some sort of collateral like a watch, your car, or whatever else you may own - which would turn it into a secured loan.
The same type of loan isn't right for everyone. You must know your current financial situation, if you can payback what you can borrow, what your credit score is, and if you're 100% sure you want to get the procedure. Do some research, understand the rates and fees associated with each type of loan, and be confident with your decision. I hope this helps out!