How to Finance Dental Procedures
Dental procedures can add up in a hurry. If insurance isn't an option and you have to pay for dental work out of pocket, you should consider financing your dental procedures. Dental financing options include in-house financing through the dental office, third-party health-care financing companies and traditional credit cards. When deciding which financing option to use, you need to carefully consider the advantages and disadvantages of each.
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Ask your dental provider about in-house financing options. Many dental offices offer in-house financing. Terms of this type of financing vary by dental office but generally carry high rates of interest and have high down payments. In-house financing is often a good option for individuals with poor or limited credit histories. Also, if the dental procedure takes place over an extended period of time, this option may allow you to pay for the dental procedure as the work progresses.
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Use an existing credit card account to finance your dental procedures. Consider using a card that offers an introductory promotional offer such as zero or very low interest payments for a period of time. Credit cards are a good option if you plan to pay off the dental procedures in a relatively short time. Generally, credit cards require no down payment and have no fees, except for interest, associated with charging a dental procedure.
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Apply for third-party health-care financing. Companies that offer this include CareCredit, Chase Health Advance and All Care. Ask you dental service provider if he works with any third-party health-care financing company. It generally makes the application process faster if the dental office is already approved by the health-care financing company. Consider interest rates and any promotional offers available from the companies. Common promotions include zero interest or zero payments for a specified period of time. Submit your application. Most third-pary health-care financing companies will allow you to apply by Internet or telephone. If your dental service provider is not approved with the company, you will also have to submit information about the dental practice.
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