Best Plastic Surgery Loans

Most common cosmetic surgeries cost several thousands of dollars. For example, the average breast reconstruction surgery costs $15,225, according to CareCredit, a medical credit card provider. If you’re wondering how to pay for plastic surgery, one financing option you may consider is a plastic surgery loan. When you apply for a cosmetic surgery loan from an online lender rather than a bank, you’ll enjoy a faster, easier process. Some online lenders also have more lenient qualification requirements. Our team of financial experts reviewed and ranked more than 30 online lenders to help you choose the best plastic surgery loan for your needs.

Best Plastic Surgery Loan Options for 2024

How to Choose the Best Plastic Surgery Loan

When comparing cosmetic surgery loans, you’ll want to pay attention to the following factors. Our team of experts evaluated each lender using the criteria below:

• Loan Features: Make sure the lender offers the amount you need with a term that results in a monthly payment you can afford, and check to ensure there are no restrictions on using the loan for medical purposes.
• Interest Rates and Fees: Aim to apply for the loan with the lowest interest rates and the fewest fees that you are eligible for based on your creditworthiness. Avoid all lenders that charge prepayment penalties.
• Application Process: Consider whether the lender offers prequalification without a hard credit pull. If your reconstructive surgery is an emergency, pay attention to each lender’s funding time as well.
• Qualification Process: Some lenders have stricter qualification criteria than others. Make sure you’re likely to qualify before you formally apply.
• Customer Support: Check the lender’s options for getting in touch with the customer support team. You should be able to find a convenient time to call or email when assistance will be available.
• Online User Reviews: Look at what people are saying about each lender on third-party review sites like Trustpilot, CreditKarma, and ConsumerAffairs. Any negative patterns in customer reviews should raise a red flag.
• Perks and Bonuses: Some lenders offer payment flexibility, hardship protection, educational resources, or other benefits. If you want advanced technology such as mobile app loan management, you should look for lenders that offer that as well.

Average Costs of Plastic Surgery Procedures

According to CareCredit, below are the average costs of the most common plastic surgery procedures:

• Breast augmentation: $4,516
• Breast reconstruction: $15,225
• Breast implant removal: $3,059
• Breast lift: $5,012
• Breast reduction: $5,913
• Buttock augmentation: $4,807
• Buttock implants: $5,278
• Buttock lift: $5,482
• Cheek implant: $3,669
• Chin augmentation: $3,137
• Dermabrasion: $1,786
• Ear surgery: $3,736
• Eyelid surgery: $4,120
• Facelift: $8,005
• Forehead lift: $3,900
• Liposuction: $3,637
• Nose job: $5,483
• Tummy tuck: $6,514
• Hernia repair: $5,600

How to Get a Plastic Surgery Loan

While the process varies depending on the lender you choose, you’ll generally follow these steps:

• Check your credit report at AnnualCreditReport.com to see what you’re eligible for and dispute any errors
• Prequalify with a few different lenders you’re likely to be eligible for. This will only result in a soft credit check, which will not hurt your credit.
• Choose the lender with the lowest rate and the fewest fees you can qualify for, and proceed to the formal application. You’ll need to provide your social security number and proof of income, and this step will result in a hard credit check, which will cause a slight drop in your score.
• Once approved, read the fine print and sign and accept your loan documents.
• Wait for the funds to appear in your bank account, which typically happens within just a few days.

Where to Get Plastic Surgery Loans

• Banks: Banks provide in-person service, but bank loans are often more difficult to qualify for than online loans. They also require paperwork and can take longer to fund. If you have a good relationship with your bank, you may consider asking about a plastic surgery loan.
• Credit Unions: Credit unions often offer low rates, but they have membership requirements. If you’re already a member of a credit union, this might be a good place to start looking for a cosmetic surgery loan.
• Online Lenders: Online lenders review a greater variety of information than just your credit score when making an approval decision. They can also fund your cosmetic surgery loan quickly, sometimes even in the same day. And they offer a digital process that many borrowers prefer.

Alternative Financing Options for Cosmetic Surgery

• Credit Card: You might consider a medical credit card, which typically have lower APRs and are designed for medical expenses, or a 0% introductory APR credit card, if you can pay off the balance within about 18 months.
• Home Equity or Auto Equity Loan: These are secured loans that allow you to borrow against the equity you’ve built in your home or vehicle. They typically come with lower rates than personal loans, but can take longer to get.
• HELOC: An HELOC is a revolving line of credit that allows you to draw from the equity in your home as needed. It’s a great option for borrowers who can’t afford to repay a loan right away, since the draw period typically lasts five or ten years before repayment of principal and interest begins.
• 401(k) Loan: You should only use this option if your cosmetic surgery is necessary, since raiding your 401(k) will deplete your retirement savings. You also shouldn’t borrow from your retirement account if you plan to leave your job. But this is a no credit check option you can use to pay for plastic surgery, and you can avoid tax penalties if you repay the loan with interest.
• Payment Plan: Talk to your doctor about payment plans offered by your healthcare institution. You may be able to pay for the procedure in fixed installments.
• Health Savings Account or Flexible Spending Account: If your procedure is medically necessary and you have an HSA or FSA account, you can use your savings in these accounts to cover the cost.
• Crowdfunding: If you think your social network will be sympathetic to your cause, start a crowdfunding campaign to raise money for your procedure.

Conclusion

If you can’t afford to pay for your cosmetic surgery all at once, an unsecured personal loan from an online lender is a great option. It’s fast and easy to get the money you need, and if you have good credit, you’ll likely beat the APR on your credit cards. There are also loan options for poor credit borrowers who may have difficulty getting a credit card. What’s more, the lenders we chose don’t have any restrictions on using the funds for medical procedures. You can’t go wrong with the lenders on our list, but be sure to prequalify with a few of them to compare rates before you decide.