Now there’s no excuse for skipping your next dentist appointment.
Dental work can be costly. Even with dental insurance, checkups are still expensive. Important procedures and cosmetic surgery often have hefty price tags. If this has stopped you from visiting the dentist, don’t worry: there are options to finance your important dental procedures upfront so you can have any necessary work done now and pay it back later.
Personal loans through Prosper
You could borrow up to $40,000 for a variety of purposes, with rates from 6.95%–35.99%.
- Recommended Credit Score: 640 or higher
- Minimum Loan Amount: $2,000
- Maximum Loan Amount: 40000
- Loan Term: 3 or 5 years
- Turnaround Time: 1-3 business days
- Simple online application process
- No prepayment penalties
What is a dental loan?
A dental loan is a type of personal loan used to pay for dental surgery and other dental costs. Like many medical loans, they tend to be unsecured. This means lenders rely on your credit score and ability to repay rather than forcing you to put up collateral.
How do dental loans work?
Dental loans work like any other loan. When you apply, you request a specific loan amount to cover the needed work. If you’re approved, your loan funds will be transferred into your account. You can use the money right away to finance your procedure, and you’ll begin paying back the outstanding balance based on your loan contract.
Since these are unsecured loans, you can use the money for a variety of purposes. If you need a lot of work done and will be in and out of the dentist or oral surgeon for a few months, your loan funds can be spread out to accommodate your needs. If you just need a one-off visit, you can borrow a small amount and pay it back quickly to save on interest.
How you use your loan is up to you, but remember: only borrow as much as you need and stay on top of payments to avoid being charged late fees, defaulting or hurting your credit score.
Compare lenders that offer loans to pay for dental work
What can I use a dental loan for?
- Root canals
- Gum surgery
- Wisdom tooth removal
- Tooth whitening
- Dentures
- Braces or retainers
- Veneers
- Cavity filling
- Crowns
- Bridges
- Teeth cleaning
- Periodical check-ups
How much does dental work cost?
The cost of a procedure or surgery will depend on whether or not you have dental insurance and what your policy covers. If you do, common procedures like cleaning and fillings will generally will generally cost you up to your deductible and copays. 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 often provide financing for braces. However, not all dental practices offer payment plans, and some procedures may not be eligible.
- Specialist dental loan. There are some lenders that offer loans tailored to dentistry that can help you finance a range of procedures.
- 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. A line of credit functions similarly to a personal loan. Instead of receiving your funds as one lump sum, you’ll be able to take money out as you need it and will only pay interest on what you borrow.
- Overdraft. An 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 your dental visit. 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.
- Medical credit card. Similar to a credit card, these also come with 0% introductory periods, which usually last from 6 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.
- 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.
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.
How to apply
If you’d like to apply for a personal loan to finance medical expenses, you can compare your options using the comparison table above. You can then click Go to Site if you find a suitable loan. To apply you’ll generally need to be over the age of 18, be employed and have a working bank account.
The application process is generally simple. You’ll need to be at least 18 and have a steady source of income to qualify. Each lender is different, so check to make sure there are no other requirements before you submit an application.
Bottom line
Dental procedures may be expensive, but that doesn’t mean you don’t have options. By comparing your rates and choosing the right loan, you can keep your costs down and keep your mouth looking beautiful. You can browse your personal loan options to start on the process of paying for your next dentist visit.
