As a plastic surgeon, I know that lots of people want plastic surgery but are having a hard time saving up for it in this tough economic climate.
While you should never put elective cosmetic surgery ahead of your more critical financial obligations such as your car or mortgage payments or saving for retirement, there are still ways to get financing for your plastic surgery.
Before I give you 5 tips that seem to help my patients, I am assuming that you know what procedure you want, you’ve had a consultation, and you know the overall price of your plastic surgery.
1. Improve Your Credit Score
As with any loan, your credit score is the most important factor in order to get approved with a good interest rate.
Plastic surgery financing companies scrutinize your credit score very closely, so if you don’t know what your score is, find out. If your score needs some improving, start paying down your debts and saving cash. If you already have a good score, you will probably get approved and get a good rate with affordable monthly payments.
2. Make Sure You Can Afford Plastic Surgery Payments
Don’t blow your good credit score by taking on payments that you can’t afford. Your overall ECONOMIC HEALTH is much more important than your cosmetic surgery.
If you are stressed about finances, your job, having a long enough time to recover or other issues besides your surgery, your body will not heal as quickly and your health could be compromised. If you need to postpone your surgery, then do it.
3. Find Out if Your Plastic Surgeon Accepts Cosmetic Surgery Financing
Not all plastic surgeons accept payments from all plastic surgery financing companies. And not all financing companies work with all plastic surgeons. It’s up to you to find out ahead of time if your chosen plastic surgeon and financing company have an established agreement.
You should also find out how your financing company pays for your procedure. Some companies will write a check to the surgeon. Some companies will write separate checks to the surgeon, anesthesiologist and operating room facility. Some companies only deposit a lump sum into the plastic surgeon’s account and leave it to him to pay everyone else. Be sure to ask your surgeon if your financing company’s method of payment is acceptable.
4. Know the Total Cost of Your Plastic Surgery Procedure
Cosmetic Surgery is typically comprised of three different fees:
- Plastic Surgeon
- Anesthesiologist
- Operating Room / Facility
So, when you’re figuring out the final cost of any cosmetic surgery procedure, it’s important to know the total overall cost.
5. Find a Reputable Plastic Surgery Financing Company
There are countless plastic surgery financing companies out there. The bigger ones tend to be associated with professional organizations or with big banks. For example, CareCredit is actually a subsidiary of GE Financial Services, and is the “endorsed” financing provider for the ASPS/ American Society of Plastic Surgeons. Chase Health Advance is a subsidiary of Chase Bank.
The smaller ones that you find on the Internet may be fine. Or they may not be. Be sure you don’t give away personal financial information to an unknown company or website. But do take the time to shop around to get the best interest rate and terms for your plastic surgery procedure.