Dental Implants with Low Monthly Payments
Dental Implant Financing & Bad Credit
Part of preparing for the process of replacing missing or damaged teeth with dental implants is reviewing and planning for the cost of the procedure. Depending on where you live in the country and the dentist who is performing your dental implants, they can cost between $1,500 and $6,000 per tooth. If you need to have any bone or gum tissue grafted, the price of the dental implant process increases. Your dental insurance policy may not cover the cost of your dental implants even though dental implants are considered the industry standard for tooth replacement. If your policy does not cover dental implants and you are looking at covering the cost of the procedure out of pocket, then dental implants may seem like they are no longer a reasonable option. There are financing options available for people with all types of credit, including none. In fact, nearly half of the people with dental implants as their tooth replacement thought that they were not able to afford the procedure, so you should keep reading if you want to pursue dental implants but didn’t due to their impact on your budget.
Sub-Prime Lender Financing
The standard credit based medical loan providers like CareCredit and GreenSky require people to have a credit score of 640 or better before they will approve those loans. Subprime lenders also look at credit scores, but they look at more information before they make a determination. They look at people’s history of employment, income, and information from alternative sources to evaluate the risk of lending to that person.
If you are thinking about using a subprime lender for your dental implant loan, then you should look at their financing plans. The interest rate will be high and the origination fee will be higher than traditional lenders. The loan is not affiliated with the dentist who is performing your procedure, so it is important to remember that the lender is not a reflection of the dentist or their practice.
Personal Loans
Another alternative to a standard credit based medical loan to finance your dental implants is a secured or unsecured personal loan. A secured loan requires collateral like cars or real estate. The use of collateral helps decrease your risk to the lender and may increase the loan amount. If you are unable to continue to pay the loan back, the lender can rely on your collateral as an alternative to payment. Unsecured personal loans are obtained without collateral so failure to pay the loan will fall on a debt collection agency to resolve. As a result, these loans are not easy to qualify for if you do not have good credit. The lender assumes a large risk without the ability to collect money or collateral if you fail to pay it.
Flexible Pay-Over-Time Plans
If a personal loan or a subprime lender loan does not sound like the right fit for you to pay for your dental implant, a third option is Healthcare Finance Direct. This lender offers people an opportunity to pay over time opportunity even if they have been declined or turned down by other lenders because of their credit score. Healthcare Finance Direct works directly with the dentists and their practices to help you get the dental implants you need in a way that you can comfortably afford. The special loan underwriting process is based on data and is a unique way that is not limited to your credit report. The company is a lender so they do evaluate your risk, but then they continue to work to determine the terms of your installment loan agreement. In most cases, you will be required to provide a down payment to initiate your loan. Healthcare Finance Direct also works with the dentist to limit their risk by combining data to determine your interest rate. This kind of loan allows the dentist to keep the interest on your loan while the lender collects the principle. Another way the lender mitigates risk is they require your account information to set up direct debits for loan payment. The automatic payments will help you from missing any payments and accidentally spending the money you were supposed to set aside for your loan payment. Healthcare Finance Direct has a special portal arranged for dentists and for you where you both are able to access your loan information, payment history, and customer support.
Dental Schools
Another way to get your dental implants when you do not have a dental insurance policy that covers dental implants is talking to the dentist about being a teaching case at a dental school. Dental students learn about their procedures and different techniques by working on actual people under the direct supervision of practicing dentists. If the procedure is complicated or the students are too early in their studies, they can observe while a practicing dentist performs the maneuver. Even opportunities for you to allow students to learn are available at dental hygienist schools. Low cost routine cleanings by students who are supervised by professionals are a way for you to save money to put towards your dental implant. You will save money by having your dental implants completed at a dental school, but you will be sacrificing your time. The students do not work at the same rate as seasoned professionals and then their work will need to be reviewed by their instructors to ensure you are receiving high quality professional work. Additionally , you can talk to the dentist about being a subject for a clinical trial. Depending on the nature of your case or if your case is more complicated, you may be just the person they are looking for. Finally, you can take the time to see if there are dental resources in your community at local federally funded health centers.
Request Financing and Payment Plans
When you first hear the total cost of your needed dental implant procedure, you may start to think that you can live with a missing tooth. Do not let the price deter you from living your healthiest and best life.