Loans for cosmetic surgery
Worried about how you’ll afford cosmetic surgery? Read our guide to find out how a loan can help you finance your surgery.
If you’ve considered all the risks, and decided you definitely want to go ahead with cosmetic surgery, no doubt you’ll also be aware that it isn’t cheap.
The upfront costs of cosmetic surgery are beyond the reach of many people. One option is to finance your surgery with a personal loan, and spread the cost of repayments over a fixed amount of time.
Here’s our guide to help you find the best loan for your cosmetic surgery.
Warning: late repayments can cause you serious money problems. See our debt help guides.
How can I finance my cosmetic surgery?
There are several options available to help you to finance your surgery:
Key features of personal loans at a quick glance
How should I compare different loans for cosmetic surgery?
To compare loans, you should identify the important differences between the loans you are looking at. We have listed a selection of features for you to consider:
- Loan amount. The amount that you will be able to borrow will differ between lenders, so have a value in mind when choosing your loan.
- Interest rate. There are some loans available that are interest-free, whilst other loans aren’t. Some loans will also charge a higher interest rate than others.
- Fees. You may be required to pay upfront or ongoing costs that will add to the cost of your loan.
- Eligibility criteria. Whilst you may be eligible for some loans, you may not meet the requirements for others.
- APR. The Annual Percentage Rate is designed to provide consumers with an annual summary cost for the loan, including any setup fees and interest, so different loans will have different APRs. It is important to remember that they are only representative, and your costs may be more expensive.
- Loan terms. The length of the loan period may differ between providers, as well as the terms and conditions of taking out the loan.
- Overall cost. As well as the loan amount, you should also take into consideration any start up costs and any interest.
- Early repayment. Although you may be financially able to pay off your loan early, some lenders charge extra costs if you repay your loan too early.
Am I eligible for a personal loan?
You should only apply for a personal loan if you are sure that you can meet the repayment terms, otherwise you will face additional costs and it may impact your credit rating.
To apply for a personal loan, you will need to meet the following criteria:
How can I apply for a loan?
If you have decided on a loan that is right for you, you can fill in the application form for the loan via the provider’s website. You will need proof of the following:
- Your ID
- Your address details for the past 3 years
- Your current income and employment details in the form of payslips and bank statements
The bottom line
Cosmetic surgery is expensive, but opting for a personal loan means you don’t have to pay the bulk of funds upfront. Whether you’re applying for a loan or a financial scheme, make sure you are aware of the risks and that you can commit yourself to monthly instalments until the loan amount is paid back.
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