Not everyone likes to go to the dentist. Besides the pain, the high expense of dental treatments tends to keep many deserving patients away from dental healthcare too. If you find yourself short on finances to pay for a dental procedure, then you are among the tens of thousands of others just like you in the US.
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According to reports by the Agency for Healthcare Research and Quality from the US Department of Health & Human Services, the average yearly expense of dental treatment rose by 23% between 1996 and 2015. Additionally, the expenses rose higher in 2015 which leftover 29% of Americans sans dental insurance. For the lucky ones with dental cover, their policy paid for only 43% of treatment costs. This is where loans for dental work with bad credit come as a handy solution.
If you have a poor credit rating but are looking for ways to finance your dental treatment, then you’ve come to the right place. In this article, you will learn all you need to know about what are loans for dental work with bad credit, how to get finance for dental treatment with bad credit and alternate ways to finance dental treatment.
What are Loans for Dental Work?
Financing treatment is an excellent alternative for those whose insurance cover does not include payment for dental treatments, or the insurance covers only the partial cost of dental treatments. Thanks to growing awareness of the importance of dental healthcare for all, increasing numbers of private and government sources are offering loans for dental work for adults even if they have a bad credit rating overall.
Dental financing is similar to any other loan, in which the recipient has to pay back the loan amount in monthly installments. There could be additional fees, charges and interest applied to the loan amount for repayment.
Some of the top sources to get loans for dental work with bad credit are:
Your local dentist will definitely know a few in-house or personal loan sources which help their patients to receive complete dental care easily. Consult with a dentist to know if they offer payment plans or in-house financing through third-party lenders.
The terms and conditions of the loan vary from source to source. While some of these lenders offer loans without any down payment, other lenders may require the recipient to make a partial down payment, depending on the individual lender’s specific criteria.
Additionally, some lenders often do a credit check before providing loans for dental work with bad credit. It is highly recommended to check for high fees and APRs when applying for loans from private money lenders.
Intro 0% APR Credit Card
These are normal credit cards but offer introductory 0% APR on balance transfers and purchases for a specified period of time. At the end of the specified time, the credit card resumes APR based on the credit and other aspects.
If you pay off the loan amount within the introductory period, usually between 12 to 21 months, then you can apply for an interest-free loan for dental work. However, you may have to pay interest on a portion of the balance which has not been repaid within the introductory period. Else, you are liable to lose the intro rate if you fail to repay the loan amount according to the lender’s terms and conditions of repayment.
A personal loan is also a great way to finance your dental work with bad credit. There are several sources that do not consider bad credit rating when providing finances to the applicant. Most lending companies offer finance for personal work, which includes medical or dental treatment. These are typically unsecured loans so you don’t have to worry about putting up collateral to avail the loan amount.
Even persons with bad credit can successfully receive a personal loan for getting dental treatment however they are liable to be charged a higher interest rate.
Medical Credit Card
Special medical credit cards are available from numerous large money lending companies. These cards work similarly to a normal credit card, but for only getting medical or dental treatments and that too, only within a specified network of healthcare providers that accept the particular medical credit card.
Once your medical credit card is approved, you can use it to pay for the cost of dental treatment you require. Some medical credit cards offer a ‘deferred interest’ plan where the interest amount is waived off if the applicant is able to pay off the loan capital amount within a specified time period.
Loans for dental work with bad credit are available to pay for dental healthcare. These loans help you to bridge the gap so you can get the care you need.
Trips to the dentist are already scary, and when costs are added, it becomes difficult to manage. These high costs are the reason that keeps most people from getting dental care in the first place. With a good and an excellent credit score, it becomes easier to qualify for dental loans. However, people with bad credit require extra effort. The loans are still available; all it requires is hard work to find the right lender and sometimes higher rates are charged.
Loans for Dental Work with Bad Credit – Number of Available Options
The average filling costs a couple of hundred dollars; however, a major malfunction can skyrocket the costs and subsequent dental visits. Here are some of the options available that can help with making the payment arrangements with the dentist. Please note that below list is created with a very basic search we conducted. Always do your own research before applying for a loan. Also make sure to first apply dental grants provided by government and non profit organizations.
Personal Installment Loans
When you need to finance a larger amount, personal installment loans can be considered. They can be repaid through regular monthly installments throughout the loan. Personal installment loans tend to have lower interest rates; however, you should still look around to find the best rate.
- CashUSA.com – CashUSA.com offers a fast, reliable, and safe loan process. The loan amount ranges between $500 to $10,000, where the funds are directly transferred to the receiver’s bank account. The interest rate is 5.99% – 35.99% for the term of 3 to 72 months. For more information, visit the official website.
- Bad Credit Loans – Bad Credit Loans provide information that helps in making decisions about the loan offers to meet your needs. It has a network of personal loan lenders or financial service providers that offer loans for dental work with bad credit from $500 to $5,000. The interest rate is 5.99% – 35.99% for the term of 3 to 60 months. For more information, visit https://www.badcreditloans.com/
- PersonalLoans.com – Submit your loan request and get the most suitable offers. It has a large lender network that provides fast loan decisions. The loan amount ranges from $500 to $35,000 with interest rates between 5.99% – 35.99% for the term of 3 to 72 months. For more information, https://personalloans.com/
Access-driven toothaches or accidental incisors are problems that are not only painful but also turn into a major disaster if not taken care of in a speedy fashion. It results in a frequent dental dilemma.
Short-term loans are intended for small amounts with a maximum limit of $2,500, typically offered for less than six months. These loans usually have the highest APR; therefore, compare the rates and fees wisely.
- Cash Advance – Cash Advance is the best solution for an emergency situation or an unexpected expense. It provides a free service that helps in quickly connecting customers with lenders offering loans for bad credit. The loan amount ranges between $100 to $1,000, and the loan decision is taken within minutes. Funding is available as soon as the loan is approved. For more details, visit https://www.cashadvance.com/
- MoneyMutual – MoneyMutual offers quick, simple, and secure access to lenders. You just need to fill a simple 5 minutes form to receive the funding. Lenders offer financial assistance in case of emergencies within 24 hours. It offers loan amounts of up to Short-term loans up to $2,500, and loan term and rate of interest vary accordingly. For more information, visit https://moneymutual.com/
Loans for Dental Work with Bad Credit – Credit Cards for Dental Financing
Credit cards act as a smart option to pay for the smallest dental procedures. Though credit cards for bad credit won’t have lower APR, they are usually less expensive than short-term loans if you pay off the balance quickly. Here are some of the options that are worth checking:
- Surge Mastercard
- Indigo Platinum Mastercard Credit Card
- PayPal Prepaid Mastercard
When applying for a new credit card for dental bill financing, the annual fee is charged as the account is opened. Accordingly, be careful regarding the balance of your credit limit, which can damage the credit score.
Lack of financing is the major reason that tens of thousands of Americans fail to receive proper dental care, with bad credit to blame in most cases. However, thanks to the above-mentioned sources now you can easily apply for, and successfully receive, loans for dental work with bad credit too. Battling with dental problems and bad credit isn’t always affordable. However, you can find effective ways to finance your important procedures and get your smile back at the full shine.