Crack! Crunch! That heart-breaking moment when you realise you’ve broken a tooth is not just physically painful. You know that having it fixed will be painful for your wallet too. Dental treatments can be very expensive and often aren’t covered by Medicare and health funds. Unfortunately, as is the nature of health care, dental work cannot be simply put off for a time when it better suits your budget. This makes it lucky then that there exist finance options for these specific situations. Here are some alternatives for dental loans:
- Credit Card
If you qualify for a credit card and your limit is high enough, this is probably the most common way that Australians pay for dental treatment. If your treatment is particularly expensive, you may need to speak to your bank or credit union about having your limit raised. Whether you are accepted of course depends on your credit rating.
- Bank or Credit Union
A bank or credit union is most suited to you if you have a borrowing history with a specific institution. Provided your credit rating is sound, you should be able to negotiate lower interest rates. Be sure to shop around though as showing evidence of having researched loan options is more likely to yield better results. Competition is high among lenders in these big banks if you have a good credit history so use that to your advantage.
- Dentist-recommended lenders
During consultation, you have the option of asking dentists themselves to recommend financing options for you. Often they will be able to link you with a loan geared specifically for dental work, but be aware that sometimes these have unnecessarily high interest rates. It is a good idea to have a look around.
- Fast cash loans
If you have a less than perfect credit history or are on a tight schedule for having your dental treatment, fast cash loans are a great option for you. These are small personal loans of up to $5000 paid off within the year. They require less checks and documentation than a bank loan would, and are often approved within 24 hours of online application. Dental loans through these brokers are perfect for covering treatments such as root canals, which require immediate attention because loans are approved so quickly. They are equally useful for cosmetic dentistry though. Straightening and whitening can be just as important to you if you have a job that requires dealing with the public or relies on image.