Financing Options For Your Breast Lift
According to the American Society for Aesthetic Plastic Surgeons, $ 12 billion was spent on cosmetic surgery by an estimated 10 million people. The figures in Australia would not be much different. Breast augmentation will cost you about $ 3,600.
What if you want a breast lift, but do not have the kind of money required? Fortunately, there exist numerous financing options for almost everything you can think of, including cosmetic surgery. Here are some financing options you could explore:
1. Medical or Health Care Credit Cards
These have fast become the new craze in paying for cosmetic surgery. These cards only cover medical costs. The advantage of such cards is that they come with reasonable payment plans and interest rates. Also, they can help in controlling your overspending habits by limiting the card to medical expenses only. The downside with this option is, if you were to miss a payment, the interest may rise up to 30 percent.
2. Normal Credit Cards
You can use an existing credit card or you could also pay for a new one with a 0% introductory period. The advantage of this method is that if the card has a reasonable interest rate, then you could pay for your surgery while also building your credit. The disadvantage is that making a large purchase can reduce your credit utilization ratio and also tie up your credit line. It’s advisable that you avoid paying more than 10 percent in interest. Also, you need to avoid adding any more purchases to your balance.
3. Home Equity Loans
These are loans taken out against the equity of your house. Interest is charged on current mortgage rates. The advantage of this is that such a loan is easy and affordable to acquire, especially for homeowners. Interest is also tax-deductible in most cases. The downside to this is that the housing market tends to be volatile, meaning your interest rates could take an unexpected jump.
4. Bank Loan
You also have the option of taking out a personal loan from your local bank. Bank loans tend to have fixed interest rates as well as a fixed amount of time in which you are required to pay it back. Additionally, if this is your first time taking out a loan, you have the chance to boost your credit rating as well. The disadvantage of this is that an unsecured loan has interest rates that tend to add up if you are not too careful. Interest rates will also vary according to a borrower’s creditworthiness.
5. Unsecured Medical Loans
These are loans secured through third party individuals such as brokers or doctors. The advantage is that you do not have to have a great credit score in order to get an unsecured medical loan. On the flipside, interest rates have a habit of increasing after the very attractive introductory offer. If you co-signed the loan with another person, then his / her credit rate is at risk.
Considering the extensive options you have at your disposal, you’re sure to find the best suited to your situation.