Best Cosmetic Surgery Financing in 2024

What is plastic surgery financing?

Plastic surgery financing refers to the availability of financial options and loans specifically designed to cover the costs of plastic surgery procedures. Plastic surgery can be expensive, and not everyone has the means to pay for it upfront. To make these procedures more accessible, many financial institutions and specialized lenders offer plastic surgery financing options.

These financing options typically work like personal loans or medical loans, allowing individuals to borrow money specifically for plastic surgery purposes. They provide a way to cover the cost of the procedure, including surgeon fees, hospital or facility charges, anesthesia, medications, and post-operative care.

Plastic surgery financing options may offer competitive interest rates, flexible repayment terms, and loan amounts tailored to the specific needs of the individual. Some lenders collaborate directly with plastic surgery clinics or providers, streamlining the financing process and offering convenient payment plans.

How does plastic surgery financing work?

Plastic surgery financing works similarly to other forms of personal or medical loans. Here's how it generally works:

1. Research Lenders: Look for lenders or financing programs that specialize in plastic surgery financing. Some lenders may have partnerships with specific plastic surgery clinics or providers, offering streamlined financing options.
2. Loan Application: Fill out the lender's application form, providing your personal and financial information. This may include details such as your income, employment, credit history, and the specific plastic surgery procedure you plan to undergo.
3. Loan Approval: The lender will review your application, assess your creditworthiness, and determine if you meet their lending criteria. They may consider factors like your credit score, income, and debt-to-income ratio.
4. Loan Terms: If approved, the lender will provide you with the loan terms, including the loan amount, interest rate, repayment period, and any associated fees. Carefully review these terms and ensure you understand all the costs involved.
5. Acceptance and Funding: If you're satisfied with the loan terms, accept the offer by signing the loan agreement. Once the agreement is signed, the lender will provide the funds to cover the cost of your plastic surgery procedure.
6. Payment Process: You'll typically make monthly payments towards the loan, including the principal amount borrowed and any interest charged. The repayment period and payment schedule will be determined by the loan terms.
7. Plastic Surgery Payment: After receiving the funds, you can use them to pay the plastic surgery clinic or provider for the procedure. Some lenders may directly pay the clinic on your behalf, while others may deposit the funds into your account for you to manage the payment.
8. Repayment: Make regular, on-time payments as per the agreed-upon repayment schedule. This may involve monthly payments over a fixed period of time until the loan is fully repaid.

Common Reasons For Plastic Surgery Financing

Some of the reasons why people choose plastic surgery financing are:

1. Cosmetic Enhancements: Financing is often used for procedures like breast augmentation, rhinoplasty (nose job), liposuction, tummy tuck, facelift, or eyelid surgery to improve appearance.
2. Reconstructive Surgery: Financing can help cover the costs of reconstructive procedures following an accident, trauma, or medical condition, such as breast reconstruction after a mastectomy or facial reconstruction after a severe injury.
3. Body Contouring: Procedures like body lifts, buttock augmentation, or thigh lifts to improve body shape and contour may require financing.
4. Weight Loss Surgery: Financing can be used for bariatric surgeries like gastric bypass or gastric sleeve to aid in significant weight loss and address related health concerns.
5. Hair Restoration: Procedures such as hair transplantation or scalp micropigmentation for hair loss treatment and restoration may require financing.
6. Gender Confirmation Surgery: Individuals seeking gender confirmation surgery, such as transgender or non-binary individuals, may utilize financing to cover the costs of procedures like breast augmentation, facial feminization, or genital reconstruction.
7. Dental Procedures: Financing can be used for cosmetic dental procedures like dental implants, orthodontics, or smile makeovers to enhance the appearance of teeth and improve oral health.
8. Non-Surgical Treatments: Financing can help cover the costs of non-surgical cosmetic procedures like Botox injections, dermal fillers, laser treatments, or chemical peels.
9. Self-Confidence and Self-Esteem: Some individuals may seek plastic surgery to boost their self-confidence and enhance their self-esteem, leading to improvements in various areas of life.
10. Corrective Surgeries: Financing can be used for corrective procedures to address previous unsatisfactory surgical outcomes or complications.

Can plastic surgery procedures be financed?

Yes, you can finance plastic surgery. Here are some of the options:

• Personal Loans: This is one of the most popular choices and gives you full control over how you use the money you borrow. How much you can borrow will depend on your creditworthiness, but it will allow you to spread the cost over a longer-term, typically 3-5 years.
• 0% APR Credit Cards: Another option is to use a credit card with a 0% introductory period. This is a good option if you have good or excellent credit and can get a long 0% period on a new card. Low-interest credit cards can be another good option.
• HELOC: A Home Equity Line of Credit allows you to have a line of credit you can use secured against the value of your home. This makes interest rates low but does put your property at risk should the worst happen.
• 401(k) Loan: If you have a 401(k) plan that allows you to borrow from yourself, you can consider getting a 401(k) loan. 401(k)s tend to have strict rules around what you can do here, but this can be a good option if your retirement plan allows it.
• In-House Financing: Many plastic surgeons offer in-house financing either directly through their business or via a partner lender. This is usually a personal loan, though they sometimes offer more flexible terms. Make sure you compare these options with external financing options to ensure you’re getting the best deal.

Pros & Cons of Plastic Surgery Financing

PROS

• Get the surgery you want now, rather than later
• You can keep your savings
• You can spread the cost
• Many of the options have low interest rates, especially if you have a high credit score

CONS

• You may make a decision now that you would reconsider if you had to wait to get your surgery
• Due to the high cost of surgery, you may find your options are somewhat limited until you pay off the loan because you’ve stretched yourself financially
• If your credit score isn’t great, you may struggle to get financing or the rate may be so high that it’s unaffordable

What type of plastic surgeries can be financed?

Any form of plastic surgery can be financed with a personal loan. Procedures include:

Facial Procedures:

• Rhinoplasty (nose job)
• Facelift
• Brow lift
• Eyelid surgery (blepharoplasty)
• Chin augmentation
• Cheek augmentation
• Ear surgery (otoplasty)
• Lip augmentation

Breast Procedures:

• Breast augmentation
• Breast reduction
• Breast lift (mastopexy)
• Breast reconstruction
• Gynecomastia surgery (male breast reduction)

Body Contouring Procedures:

• Liposuction
• Tummy tuck (abdominoplasty)
• Body lift
• Thigh lift
• Arm lift (brachioplasty)
• Buttock augmentation
• Brazilian butt lift
• Mommy makeover (combination of procedures post-pregnancy)

Skin Procedures:

• Botox injections
• Dermal fillers (e.g., Juvederm, Restylane)
• Chemical peels
• Laser resurfacing
• Microdermabrasion
• Tattoo removal
• Scar revision

Genital Procedures:

• Labiaplasty
• Vaginoplasty
• Penile enlargement
• Scrotal lift

Weight Loss Procedures:

• Gastric bypass surgery
• Gastric sleeve surgery
• Gastric band surgery
• Body contouring after weight loss

Hair Procedures:

• Hair transplantation
• Scalp micropigmentation
• Hairline lowering

Reconstructive Procedures:

• Breast reconstruction
• Facial reconstruction
• Burn reconstruction
• Skin grafts
• Cleft lip and palate repair

Do plastic surgery cosmetic centers offer in-house financing?

Many do, yes. This is usually through a partner lender, rather than the company itself. Sometimes this makes financing more affordable, but you need to compare all your options to get the lowest interest rate you can.

What credit score do I need to qualify for plastic surgery financing?

The credit score required to qualify for plastic surgery financing can vary depending on the lender and the specific financing program. Generally, a good credit score is beneficial for obtaining favorable financing terms. A credit score of 670 or above is typically considered good, while scores above 700 are considered very good or excellent.

Can I get plastic surgery financing with no credit check?

It is unlikely to find plastic surgery financing options with no credit check. Most reputable lenders and financing programs will assess an applicant's creditworthiness as part of the application process. A credit check allows lenders to evaluate an individual's credit history, credit score, and overall financial stability to determine the risk involved in extending a loan.

Credit checks help lenders make informed decisions about loan approval and establish appropriate interest rates and repayment terms. They provide lenders with an understanding of an individual's ability to repay the borrowed funds based on their past credit behavior.

While some lenders may offer financing options with more flexible credit requirements or consider factors beyond credit scores, it's important to approach these options with caution. Lenders who claim to provide plastic surgery financing with no credit check may have higher interest rates, stricter terms, or less favorable loan conditions.

Can I get plastic surgery financing with bad credit?

You may, but you’ll likely find that the interest rates you’ll get will make your financing options largely unaffordable. Make sure you understand your financial situation and can easily afford the repayments.

How much does plastic surgery cost?

The cost of plastic surgery procedures can vary widely depending on several factors, including the specific procedure, the surgeon's expertise and reputation, the geographical location, the facility or hospital fees, anesthesia costs, pre-operative and post-operative care, and any additional procedures or treatments required. Here are some approximate price ranges for common plastic surgery procedures in the United States:

• Breast augmentation: $4,000 to $10,000
• Rhinoplasty (nose job): $5,000 to $15,000
• Facelift: $7,000 to $15,000
• Liposuction: $2,000 to $8,000
• Abdominoplasty (tummy tuck): $6,000 to $12,000
• Breast reduction: $5,000 to $10,000
• Eyelid surgery (blepharoplasty): $3,000 to $7,000
• Breast lift (mastopexy): $4,000 to $9,000
• Brazilian butt lift: $6,000 to $12,000
• Mommy makeover (combination of procedures): $10,000 to $20,000 or more

How to Qualify for Plastic Surgery Financing

To qualify for plastic surgery financing, you’ll need (in general):

• A credit score over 660
• A debt-to-income ratio of 30% or less
• Annual income over $20,000

Is plastic surgery financing a good idea?

If cosmetic surgery is something you’ve been considering for some time (think years) and you’re in a strong financial position but can’t cover the cost upfront in the near future, then it can be a good idea. The most important things to consider when you’re deciding whether plastic surgery financing is a good idea is to ensure you’re making the decision for yourself, believe the alterations you want to make will better your life, and will easily afford the repayments. It’s also worth considering if you have any other major life decisions coming up within the loan repayment period (such as trying to get a mortgage or having children) that may be hindered by your loan.

How to apply for plastic surgery financing

If you’ve decided plastic surgery will dramatically increase your quality of life, then it’s time to start searching for a surgeon you’d like to work with and comparing financial options. Once you know the full cost of the surgery (it’s best to have a consultation before you seek financing) you can start comparing rates and apply.

Key steps involved in the process:

1. Research Lenders: Look for lenders or financing programs that specialize in plastic surgery financing. Some lenders may have partnerships with specific plastic surgery clinics or providers, offering streamlined financing options.
2. Check Credit Score: Obtain a copy of your credit report and check your credit score. A higher credit score generally improves your chances of qualifying for financing with favorable terms. If your credit score is low, consider taking steps to improve it before applying for financing.
3. Gather Financial Documents: Prepare the necessary financial documents that lenders may require, such as proof of income (pay stubs, tax returns), bank statements, and identification documents.
4. Determine Loan Amount: Calculate the total cost of your plastic surgery procedure and determine the loan amount you will need to cover the expenses. This will help you communicate your financing needs to the lender.
5. Submit Loan Application: Complete the lender's application form accurately and provide all the required information. Be prepared to provide details about your personal information, income, employment, and the specific plastic surgery procedure you plan to undergo.
6. Provide Supporting Documentation: Submit the requested supporting documents along with your application, such as proof of income, identification, and any additional documents the lender may require.
7. Wait for Approval: The lender will review your application and supporting documents to assess your creditworthiness. This process may take some time, so be patient and prepared to wait for a decision.
8. Review Loan Terms: If approved, carefully review the loan terms provided by the lender. Pay attention to the interest rate, repayment period, monthly payment amount, any associated fees, and the total cost of the loan.
9. Accept the Loan Offer: If you are satisfied with the loan terms, accept the offer by signing the loan agreement and following any additional instructions provided by the lender.
10. Proceed with Plastic Surgery: Once you have secured the financing, you can proceed with scheduling and paying for your plastic surgery procedure. Follow the lender's instructions for disbursing the funds to the plastic surgery clinic or provider.