Now you have no excuse for skipping your next dentist appointment.
Dental work can be costly. Whether you’re just going for a check-up or for more comprehensive reconstructive or cosmetic surgery, the bill may be out of your budget. But whether the dental work is necessary or elective, you should know that there are financing options available to you. Take a look at your options for dental loans, what’s involved and whether they might work for you.
Prosper Personal Loans
You could borrow up to $35,000 for a variety of purposes, with rates starting from 5.99%.
- Recommended Credit Score: 640 or higher
- Minimum Loan Amount: $2,000
- Maximum Loan Amount: $35,000
- Loan Term: 3 or 5 years
- Turnaround Time: 1-3 business days
- Simple online application process
- No prepayment penalties
What’s a dental loan?
A dental loan is a type of personal loan used to pay for dental surgery other dental costs.
How do dental loans work?
Some lenders are willing to cover the full cost of your dental work, although loan amounts vary. Terms typically range between one and seven years: In most cases, the more you borrow, the longer your term is.
Compare lenders who offer loans to pay for dental work
What can I use a dental loan for?
- Root canals
- Gum surgery
- Wisdom tooth removal
- Tooth whitening
- Braces or retainers
- Cavity filling
- Teeth cleaning
- Periodical check-ups
How much does dental work cost?
Most people know dental work can be expensive, but just how much can a visit to the dentist cost? The answer depends on whether or not you have dental insurance. If you do, common procedures like cleaning and fillings will generally will generally cost you up to your deductible and co-pays. If you don’t have dental insurance, you’ll have to pay out-of-pocket for the entire cost of the procedures.
Here’s what you can expect to pay for some dental procedures without insurance:
- Teeth cleaning: up to $127
- Cavity filling: up to $204
- Wisdom tooth removal: up to $750 per tooth
- Dental crown: up to $1,093
- Root canal: up to $1,156
How can I pay for dental work?
Before applying for a dental loan, it’s important to know what type of loans are available to you. If you’re looking at getting dental loans then you have a few options open to consider:
- In-house payment plan. Some dentists offer interest-free payment plans, especially for dental work that involves return visits. Orthodontists, for example, often provide financing for braces. Not all dental practices offer payment plans, however, and even if they do not all procedures are eligible. If you need a one-time fix, consider other financing options like.
- Specialist dental loan. There are some lenders that offer loans tailored to dentistry and can help you finance a range of procedures. Specialist loans include payment plans through your dentist as well as third-party providers.
- Personal loan. Many personal loans can be used to cover medical costs, including dental work. You can typically borrow between $1,000 and $50,000 with rates ranging from 6% to 36%.
- Line of credit or overdraft. A line of credit or overdraft is where the bank allows you to overdraw your account up to a certain limit. You are able to redraw anywhere up to and including this limit and then repay it over time at a fixed rate of interest.
- Credit card. Depending on the limit of your card, you may be able to cover the costs of surgery or any other visits or check-ups with your credit card. Just keep in mind that the rate of interest on your credit card is likely to be higher than a personal loans unless you’re still in a card’s 0% APR introductory period. With no set repayment period you may fall into debt if you don’t keep on top of your payments.
- Medical credit card. Similar to a credit card, these also come with 0% introductory periods, which usually last from six to 18 months. Otherwise, it acts like a loan: If you don’t pay off you balance before the period ends, you owe interest on the entire amount you spent, not just what’s left.
- Bad credit personal loan. These loans, also called short-term or payday loans, are usually for amounts between $100 and $5,000 and may be an option if you need finance for emergency dental surgery. Payday lenders usually offer quick turnaround time, with some lenders able to send you your loan amount within 60 minutes. Keep in mind that the the repayment period is quite short, usually between 60 days and one year.
How can I find the right dental loan my needs?
Here are some questions to ask yourself when comparing lenders for dental loans:
- What is my credit like? Check the eligibility criteria offered by lenders and make sure your credit score is above their minimum.
- What repayments can I afford? You should be able to work out a rough idea of what your repayments will be based on the loan’s interest rate and ongoing fees. See if this repayment will work with your budget.
- How much do I need to borrow? Lenders place restrictions on how much you can borrow with certain loan products, so check to see their minimum and maximum loan amounts before you apply. Keep in mind you may not be approved for the full amount you want, regardless of whether it’s below their maximum amount offered, as this will depend on your income and credit history.
- When do I need the money? Different lenders will offer different turnaround times, so it might be worth talking to the lender’s customer service before you apply to find out when you could expect the funds once approved.
Frequently asked questions
Do dental loans have preferred providers?
Unlike credit cards for medical expenses, loans typically don’t have a network of preferred providers. You’re usually free to see whichever licensed dentist you choose.
Will a dental loan cover my specific procedure?
Most likely, yes. Lenders don’t usually exclude certain procedures, as long as the procedure was performed by a reputable medical professional. You can check the lender’s website before applying or call their customer service line to be sure.
Can I use a dental loan to pay for a dental bill that's in collections?
Dental loans are usually meant to pay the facility or dentist that’s owed. If your bill has been sent to collections, a debt consolidation loan may be more fitting. Check with the lender you’re interested in to get more information.