How to Finance Dental Procedures
Paying for dental procedures may require patients to set up a financing plan if they cannot pay in cash. The cost of the procedure will often determine how long a lender will extend the financing term. A patient should check with several different financing sources to find the lender with the lowest interest rate.
- Find out the approximate cost of your dental work before you agree to let the dentist perform the procedure. If you have a dental insurance policy, check to see how much coverage you have. Ask the dentist if there is a lender that will finance the amount of the procedure that you cannot pay for in cash or insurance will not cover. Some dentists work with lenders if they often perform expensive procedures on their patients.
- Contact the lender to apply for financing if the dentist has one to recommend. Ask the lender what the interest rate is for the financing. Find out how long the lender will extend the loan term to make sure you can afford the monthly payment.
- Call your bank to compare the interest rate the dentist’s lender charges with the bank’s rate. Ask to speak with a loan officer and explain the reason for your call. Fill out an application if the interest rate is lower than the dentist’s lender. Once you receive an approval, go over the loan structure to make sure it is agreeable.
- Search online for dental financing if your bank will not approve your loan request. Research the reputation of an online lender before you apply for financing. Complete the online application if you are confident the lender is reputable.
- Make an appointment with your dentist to have the procedure once financing is in place. Tell the dentist that you have the money, and write a check to cover the procedure. Make sure the loan proceeds clear your bank account before you write the check.