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Best Plastic Surgery Loans

July 2024

Plastic surgery loans are one way to pay for cosmetic surgery. However, they are not the only option available. Find out which lenders offer the best plastic surgery loans and what other alternatives are available.
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We all want to look as good as possible, and a little help from a plastic surgeon can go a long way. However, plastic surgery is not cheap. The national average cost for liposuction is $3,350, and a tummy tuck will cost around $6,050. Every year, Americans spend about $17 billion in plastic surgery and received more than 1.5 million cosmetic surgery procedures (source). If your medical insurance doesn't cover elective cosmetic procedures (most don't), you may have to find a way to finance your plastic surgery.
Plastic surgery loans are one way you can finance a cosmetic procedure. Loan amounts range from $600 to $50,000, and APRs start at 7.99% and go up to 35.99%. However, the best rates and larger loan amounts are reserved for high-income borrowers with excellent credit. Here is our list of the best plastic surgery loans.
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Methodology

SuperMoney's list of the top-rated personal loans for plastic surgery is based on the qualitative recommendations of our community members and the quantitative recommendations of our ranking algorithms. We analyzed more than 100 lenders and focused on lenders that provide large loan amounts, low-interest rates, and long terms.

How to compare the best plastic surgery loans?

The key terms you should look at when shopping for medical loans are the APR, origination fees, and eligibility requirements. Let's break them down to explain why they are critical when comparing cosmetic personal loans. To illustrate, let's say you want a facelift and need about $8,000 to finance it.
  • The APR of a loan determines its overall cost. An APR of 10% on an $8,000 loan with a 3-year term would cost you $258 a month and a total cost of $1,293 in interest. The same loan with a 15% APR would be $277 a month and $1,984 in interest.
  • Origination fees are upfront payments charged by the lender to cover processing and administrative costs. An origination fee of 3% on an $8,000 loan would cost you $240 and would be deducted from the loan amount. Take this into account when deciding how much you need to borrow.
  • The eligibility requirements of lenders will determine what rates and terms you can get. Check what lenders will consider borrowers with your credit score and debt-to-income levels.
SuperMoney's loan offer engine allows you to compare top-rated plastic surgery loans without hurting your credit or wasting time with multiple application forms. Find out exactly how much you can borrow and at what rates in one place. We will also help you work out how much your monthly payments will be and the total cost of fees and interest.

Common Questions About Plastic Surgery Loans

What alternatives are there for plastic surgery loans?

There are four main alternatives to getting a personal loan: using your savings, insurance, payment plans, and other forms of financing, such as HELOCs, shared equity agreements, and credit cards.
  • Savings. If at all possible pay for your cosmetic surgery with savings. You will not pay any interest or waste time with loan applications.
  • Insurance. Some plastic surgery procedures may be covered by your health insurance if they are medically necessary. Call your insurance company and find out what they cover.
  • Payment plans. Some plastic surgeons will offer a low- or even no-interest option to patients who ask to pay for the procedure in installments.
  • Credit cards. A credit card with a 0% APR introductory rate may allow you to pay for the surgery interest-free if you can repay it within the introductory period. This option is only available for people with good to excellent credit. Notice that once the period ends, you will typically have to pay high interest rates. In some cases, those rates can apply to the entire amount retroactively, not just the balance.
  • Secured loans. Home equity loans and lines of credit usually offer lower interest rates and larger loan amounts, but you put your home at risk if you default on the loan.

Can you get a plastic surgery personal loan with bad credit?

Yes, you can. However, you will probably only qualify for smaller loan amounts and high interest rates though. So, getting a loan for smaller nonsurgical procedures, such as botox (average cost of $311) or a chemical peel ($693) may not be a problem. But most plastic surgery procedures cost $3,000 or more so you may struggle to find a lender if you have poor credit. However, you can try to apply with a cosigner or use a secured loan, such as a home equity loan or HELOC.

Does health insurance ever cover plastic surgery?

Typically, if you're getting plastic surgery for the sole purpose of improving your appearance or self-esteem, insurance won't cover it. However, if a cosmetic procedure is medically justified, your insurance may cover it. For example, procedures like skin grafts, breast reconstruction, or conditions that cause pain or discomfort may be covered.

What credit score do you need to finance plastic surgery?

There are financing options for all types of credit. However, the best rates and terms are reserved for borrowers with excellent credit and large incomes. If your credit score is below 670, you will only qualify for higher rates and smaller loan amounts. If your credit score is below 580, it is probably best to find an alternative way to finance the surgery or wait until your credit has improved.

Is it hard to get financing for plastic surgery?

It all depends on your credit score, income, and debt levels. People who already hascve a lot of debt and poor credit will find it hard to get financing. However, people with good credit and regular income can choose from several financing methods, such as personal loans and credit cards.

Where can you find the best plastic surgery loans?

There isn't a simple answer to that question. The best plastic surgery loan for you will depend -- among other things -- on your financial circumstances and credit history. The list above is an excellent place to start your search. Apply with at least three lenders and choose the best cosmetic surgery loan offer. SuperMoney's loan offer engine allows you to get prequalified with the best plastic surgery loans by submitting one form (and it won't hurt your credit).

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