Dental implants offer patients the ability to enjoy life without worry of pain, loose dentures or embarrassment caused by missing teeth. While there are few dental insurance plans that offer coverage for this treatment, prices are becoming more reasonable as years go by. If you’re intent on moving forward with your dental implant procedure but are unsure of the best way to finance it, the steps below will help you decide on the best route to turn.
Step 1 – Head down to your bank, credit union or favorite lending establishment and apply for a line of credit to be tied to your home or car as a way to enderwrite your treatment. This method works wonderfully, and will allow you to keep your property while making low interest payments to the lender over a period of months and years. If you’re credit is tied into real estate investments you even have the ability to write off the interest on the loan. If your tax return is itemized, you should discuss the ability to write off a portion of the surgery with your accountant.
Step 2 – Get in touch with the physician who will be performing the procedure and ask whether their practice offers financing. Many dentists work with banks, offering credit as a way to gain more business. It is rare to find a loan that is interest free, but they are out there. Ask for any necessary application paperwork and go over all of the fine print before signing anything.
Step 3 – Contact your relatives for a loan with the understanding that it will be paid back with interest. Make up a contract and have it notarized by your local bank. When you go to your initial appointment, bring the money in hand, and ask whether there is any discount available for a cash payment.
Step 4 – If you can find one, try applying for a no-interest credit card and use it to pay off the costs associated with your procedure. Check out all of those offers you receive in the mail and look for one that looks promising. You’ll want to find a card that offers a long period before accruing interest. Check your math and figure out whether you can pay off the dental implants within the year. If you have a one year, no interest credit card, and can afford the balance in increments of 12, then you will be able to finance your procedure interest free. You may even be able to enhance your credit score due provided you keep up on your payments!
Step 5 – Apply for a credit card that is issued for the sole purpose of dental and medical emergencies. This will allow you to pay off your bill over time, with some even offering interest free plans to qualified applicants.
Step 6 – It’s a rough option, but there’s always saving. Try taking 20% of your income and putting it aside for your procedure. If you can’t afford 20%, then opt for 10%. Not only will you not have to worry about paying off the debt after the procedure is over, but you will owe less in the long run by avoiding the interest you would otherwise accrue.