Visiting a dentist is something we all like to postpone. However, it may often be an inevitable decision since putting it off for a long time may lead to serious health issues and higher costs. Dental work is rather expensive and requires a decent amount of cash.
Not every person can boast of having adequate savings on their account so that they are able to afford to go to the dentist as soon as they need it. Whether you need to get your teeth professionally cleaned or have a serious surgery or root canal, paying for dental work can be really hard on the wallet. Financing dental work can be a lifesaver in this case. Here is how this type of financing works.
How Much Dental Work Costs
Generally, the total cost of dental work depends on your health insurance. Thus, consumers who don’t have insurance will have to pay the whole price out of their own pocket or apply for loans for bad credit. That’s why many people without health insurance tend to avoid doctors and suppose their problems will vanish over time. However, the longer you wait the harder it will be to solve the health issue, and dental work is probably one of the most expensive health costs.
How much does average dental work cost? Teeth cleaning will cost you around $125, wisdom tooth removal will cost from $300 to $800, the root canal will cost from $750 to $2,500 per tooth, braces will cost between $5,000 and $6,000, while full-mouth implants will be between $24,000 and $100,000. As you can see, the price tag is really high and not every person can afford such costs.
How Dental Loans Work
Dental work financing is very widespread these days in every country. People opt for this solution when they don’t have enough personal funds to cover the costs of dental work. Dental loans are a perfect way to obtain the necessary cash without the need to put up collateral. Hence, such loans are unsecured and present a low risk for borrowers. Getting such financing you may use it as a payment for various surgeries, treatments or procedures connected with teeth.
While collateral is not needed, the borrower’s income, credit history, and assets are more valuable for creditors before they approve the loan request. So, you should think about how urgently you need to obtain extra funds. If the problem isn’t urgent, you will have the time to improve the credit score and qualify for loans with lower interest rates and better conditions. But don’t worry, dental financing bad credit Canada is still popular as many health issues just can’t wait.
Canadian Dental Association admits that only one-third (37.5%) of their citizens brush their teeth twice a day and floss once a day. Take care of your teeth now to avoid dental loans in the future.
Compare Dental Financing Options
While there are plenty of creditors and lending services available these days, you need to take some time and compare various options. Before you sign any documents, define what you are searching for and answer the following questions:
- Is my credit score good enough? – Each lender has its own credit score requirements, so make sure you check them out to know the minimum you need to have in order to get approved for dental financing. Sometimes, obtaining a bad credit loan is also possible but can come with higher rates.
- How much cash do I need? – It’s important to count the total price of the dental work you are going to have so that you know exactly what sum you need to borrow. Never borrow more than you actually need, as it will be harder to repay the debt and the interest will be higher.
- Do I need money today? – Some health issues may be urgent while other procedures can wait a week or two. Depending on your needs you may select between creditors who can offer immediate funding or lending institutions that need a few days to process the transaction.
Dental Financing Options
According to the Canadian Statistics, 74.7% of Canadians visited the dental specialist last year, while the rest avoided this visit due to high costs.
There are several common options for borrowers to choose from when it comes to dental work financing:
- Small Personal Loans. Such loans are given for the short term and have a flexible repayment schedule. The money can be repaid weekly, biweekly on monthly. They are unsecured and don’t need collateral. The interest rate and loan terms will usually depend on the consumer’s credit history, stable income and the ability to repay the debt.
- Credit Cards. This is also another way to obtain the necessary funds to cover dental procedures. However, this option may not be perfect for those who put on their card the amount of cash close to their credit limit. This may affect credit history.
- Dental Loans. This is a specialized kind of lending solution designed to help people cover the expenses connected with dental procedures, surgeries and other treatments that are not covered by health insurance.
If you are a citizen of Canada, have a steady source of income and you are at least 18 years old, you can apply for this dental financing. Remember that choosing a quick monetary solution is always better than skipping the visit to the dental professional. Shop around for the most competitive terms and rates and solve your temporary health problems.