Dental Loans and Financing Options If You Have Bad Credit
Since most dental plans only cover the basics like cleanings and X-rays, cosmetic or emergency dentist visits can easily wipe out a family’s savings. Even with insurance, everything else is up to you to pay for, and it can cost hundreds to thousands if you have a cavity or need something extensive like a root canal.
While the thought of paying for expensive dental procedures out of pocket can cause a lot of stress, other payment options may be available, such as dental loans.
How dental loans and financing work
Dental financing could help you cover the cost of dental care if you can’t pay for your procedure all at once. In many cases, you can borrow money and make payments until you’ve paid off the amount you borrowed.
Dentist offices don’t always offer payment plans and will typically expect you to pay for everything upfront. Fortunately, there are many dental financing options that can help make dental treatments more affordable.
6 dental loan options for bad credit
Whether you have insurance or not, any dental procedure can leave a dent in your wallet. So, regardless of your credit score, you may have options for getting the emergency funds you need.
- Personal loan
- Medical credit card
- Credit card
- Cash Advance
- Installment Loan
- Title loan
Personal loan
With most personal loans, you’ll receive a lump sum of money and make payments over a set period. Many banks, credit unions, and online lenders offer this dental financing option with quick approvals and fast funding. The interest rate, loan term (how long you make payments), and any associated fees will determine the total cost of the loan.
Medical credit card
A medical credit card works a lot like a regular credit card. The difference is that you can only use it to pay for healthcare expenses like dental treatments with certain providers. If you’re approved for a medical credit card, you’ll need to find a dentist’s office that will accept the card as a payment method.
Medical credit cards can offer you thousands of dollars in funds for medical expenses. But the exact amount you receive will depend on your personal financial circumstances.
Credit card with a 0% introductory APR
Some credit cards offer a 0% annual percentage rate (APR) for a set period. Once the introductory period is over, the APR will increase based on your credit. Keep in mind, however, that your credit limit typically depends on your credit history and income.
Cash Advance
If you need money fast and don’t have much time to wait, a Cash Advance or Payday Loan might be an option for you. These are small-dollar dental loans (usually no more than a few hundred dollars) available to borrowers with fair or poor credit, as most lenders base their decision on your income rather than your credit score.
Unlike other loans, however, Payday Loans and Cash Advances must be repaid in full on your next payday.
Installment Loan
An Installment Loan could allow you to get the money you need quickly and pay it back in small payments, or installments, over a longer period of time. You get the full amount you need at once and make payments until the loan is paid off.
Title loan
A title loan lets you borrow money using your vehicle as collateral. The loan amount will be based on the appraised value of your vehicle. However, if you cannot pay back the loan in the agreed-upon amount of time, the lender can take possession of your vehicle.
Can I get dental financing with no credit check?
It’s possible to get dental financing without a credit check, but you’ll need to look for lenders that consider factors beyond your credit score. Some lenders might advertise no-credit-check loans. Just be prepared to provide proof of income and your employment information.
3 alternatives to dental loans and financing
Sometimes, dental loans and financing might not seem like a good fit. Whether you were denied a dental loan or simply don’t want to borrow money, there are other options worth considering.
Negotiate with your dentist
Don’t be afraid to speak to your dentist and negotiate a lower price. If you’ve been a loyal patient or require multiple treatments, there’s a chance they’ll lower the cost of your care.
If nothing else, your dentist might be able to offer you a payment plan, especially if you can provide a down payment.
Compare dental prices
Not all dentists charge the same amount for treatments. For this reason, it’s well worth your time and effort to shop around and compare dental prices. You may be able to save some money just by going to a different dentist.
Just be aware that most dentists don’t provide their prices online. You might need to call a few offices and specifically ask about the price for the procedure you need done.
It’s also a good idea to look for free or low-cost dental providers who offer dental procedures to those with low incomes or no insurance. For example, many dental schools offer free or low-cost clinics that are open to the public.
Get help from family and friends
Asking for help isn’t easy, but your loved ones might be able to help you finance your dental work. You might want to create a written agreement about your repayment plan to ensure everyone is on the same page. This will help keep your relationship and the loan separate.
Things to consider when looking for a dental loan
Repayment term lengths
Repayment lengths for dental financing vary greatly. You may have to repay some loans quickly, such as within a few weeks. Other loans might come with longer repayment terms and more manageable payments. The right repayment length depends on your budget and goals.
APRs
Annual percentage rates, or APRs, are important because they determine the overall cost of your dental loan. The lower the APR, the more you’ll save on interest charges and fees. Do your best to lock in the lowest APR you can for your particular credit score and financial situation.
Credit score criteria
In some cases, you’ll need a higher credit score to qualify for dental financing. If you don’t have the best credit, however, don't worry. You can find lenders and companies that cater to dental patients with less-than-perfect credit and have more lenient requirements.
Additional fees
Some dental loans charge fees in addition to interest. These can include origination fees, application fees, and late fees. Since fees can increase your overall cost of borrowing, prioritize financing options with minimal to no fees.
Get a fast dental loan from Advance America
Advance America offers a variety of online loans, such as Payday Loans, personal loans, and Installment Loans, that you can use to cover your dental treatment.
Once you fill out our quick application online or in-store, you may be approved even with less than stellar credit. Our loans give you the funds you need quickly, making it easy and affordable to pay for your visit to the dentist.
Notice: Information provided in this article is for informational purposes only. Consult your attorney or financial advisor about your financial circumstances.
About the author
Ashley Masiello is an experienced copywriter and editor who has crafted engaging content for numerous websites and continues to do so with Advance America. She likes to combine her creative personality with clarity to make concepts easy and fun to read.
