Cosmetic Surgery Loans

Cosmetic surgery is one way to boost your confidence, so it makes sense that it’s becoming increasingly popular in Australia. Still, not everyone can afford it. After all, cosmetic procedures can be quite expensive.

Thankfully, just like there are different types of loans you can apply for in Australia, you can also apply for cosmetic surgery loans and pay them back at your own pace.

Let’s find out how this plastic surgery loan works and how you can use it.

What this article covers:

What’s a Cosmetic Surgery Loan?

A cosmetic surgery loan is a personal loan you use to finance cosmetic surgeries. Some common plastic procedures include liposuction, facelifts, and breast augmentation. The cost of the surgery depends on what kind you’re doing.

In addition, health or medical insurance hardly covers the cost of cosmetic surgery except for reconstruction and other medical situations.

Loans for plastic surgery usually fall between $3,000 and $100,000, with the lender not requiring collateral or security.

cosmetic surgery loans

How Can I Finance Cosmetic Surgery?

When trying to get plastic surgery loans, here are some options you can consider:

Personal Loan

With a personal loan, you can borrow money under an unsecured loan or a secured loan by using an asset as security. You can also choose between a fixed or variable-rate option.

Regardless of which loan type you select, loans range from $3,000 to $100,000, with terms between one to seven years for variable-rate loans and one to five years for fixed-rate loans.

Medical Loans

Medical loans are for medical patients and are considered one of the most affordable and easiest cosmetic loans available. Most lenders who offer this option are familiar with the kind of surgeries you’re trying to finance and the possible cost implication.

Usually, they offer loan options up to $70,000 while also providing reduced fees. Still, interest rates for medical loans can be higher than other loan options, so you might want to consider that before opting for it.

Credit Cards

You can use a credit card to fund a part of or the entire plastic surgery, although that depends on your credit limit. If you already have a credit card, confirm the interest rate charge and whether you can afford the minimum repayments.

If you’re getting a new credit card, get one with 0% APR to save money on interest; some cards offer this for up to 12 months.

loan for cosmetic surgery

Factors to Consider for Cosmetic Surgery Loans

Here are some things you should consider before applying for elective surgery loans:

Loan Amount

Before applying for a cosmetic loan, you should confirm that you can repay the amount you want. Although some lenders have placed a cap on the maximum and minimum amounts you can apply for, you can also choose custom amounts if you have a solid credit history.

Loan Terms

Ensure that you pick a realistic time for repayment and confirm that the lender offers to agree to the terms. You should also note that the repayment time may affect the loan’s interest rate and repayment fee.

Repayment Options

There are different repayment options, from weekly to monthly. You can select any based on your convenience and budget, although some lenders don’t allow such liberty. Additionally, you can save money on interest by making additional repayments without incurring fees.

Variable or Fixed

Variable-rate loans usually come with an unstable rate, but you can also get loans at a lower rate. Also, this option can offer longer and more favourable loan terms.

On the other hand, fixed-rate loans have a fixed rate, so you can plan your repayment strategy. Therefore, you should pick one based on its convenience.

loans for cosmetic surgery

What Are Plastic Surgery Holidays?

Many Australians travel to other countries to have surgery to spend less money on cosmetic procedures. This situation is called “plastic surgery holidays.” While it may save you money, it’s risky and can have serious health effects.

Australia boasts of one of the best medical services in the world, so you should seek professional advice to know what’s at stake before deciding to have the surgery elsewhere.

Conclusion

No matter the kind of loan you need, from travel loans to vet student loans, weekend loans, and loans for funerals, Orange Loans is that plug you need to connect to a reputable lender. Now you can make plans, knowing fully well that you’ll be able to fund them.

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