Dental Loans: One More Way To Pay For Dental Services

If you don’t have insurance or any other way to pay for dental services, a dental loan can come in handy. They can help cover anything from basic dental hygiene checkups to getting dental implants.

In this guide, we’re going to cover everything you need to know about dental loans, their benefits, and risks.

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Best Dental Loans

Credible

  • Loan amount available from $1,000 to $50,000
  • Rates starting at 4.99% fixed APR
  • Get a quote in just 2 minutes
  • Minimum required credit score of 600
  • Terms between 24 – 84 months

CashUSA.com

  • Loan amount available from $500 to $10,000
  • Rates starting at 5.99% fixed APR
  • Terms between 3 – 72 months
  • Get your funds as early as the next business day
  • All credit types okay
  • Use the loan for anything

BadCreditLoans

  • Loans amounts from $500 to $5,000
  • Rates starting at 5.99% fixed APR
  • Terms between 3 – 60 months
  • Get your funds as soon as the next business day

LendingTree

  • Minimum required credit score of 0
  • Rates starting at 4.79% fixed APR
  • Terms between 3 – 180 months

PersonalLoans.com

  • Loan amounts from $500 to $35,000
  • Rates starting at 5.99% fixed APR
  • All credit types welcome
  • Use the loan for anything
  • Get your funds as soon as the next business day
  • Terms between 3 – 72 months

The Best Personal Loan Comparison Tool

If comparing a bunch of different dental loans sounds overwhelming, not to worry. There’s a tool from Bankrate that does that comparing for you.

It factors in your income, credit range, and your desired loan amount to generate the most suitable loan recommendations. So if you want a little more help on top of our nifty comparison table, check out that Bankrate tool.

What Are Dental Loans?

A dental loan is when you borrow money for dental work that you can’t afford out-of-pocket. Whether it’s because your dental insurance doesn’t cover it, your dental plan won’t cover all of it, or you don’t have either of those things, a dental loan is your next option.

They work like any other fixed rate loan — you’re given a lump-sum of cash to pay for whatever you need, then you pay it back in monthly installments. These monthly payments are for a set period of time until the loan is paid off.

Interest rates can start as low as 3 or 4 percent and go up to the mid-30s. Typically, the worse your credit score and debt-to-income ratio, the higher your rate will be as it’s more risk for the lender. These things can also affect how much you’re allowed to borrow, but you can apply for any amount ranging between $500 to $50,000 depending on the lender.

If you don’t need frequent dental work, it may not make financial sense to have insurance. Policies usually have high monthly premiums and high deductibles, unlike the far more affordable option — dental discount plan.

It actually might make more sense for you, depending on your situation, to just apply for a personal loan when you need a big dental procedure.

A dental loan is basically an unsecured personal loan used to pay for the cost of dental services.

Dental Loans With Bad Credit

You can get a dental loan even if you have bad credit. Of course, the worse your credit score is, the less the approved loan amount will be and the higher the rate will be.

There’s not necessarily a minimum credit score that will guarantee you a loan across the board. It depends on the lender as every company or bank has different requirements, but most lenders look for a credit score of at least 600. On the other hand, some lenders are okay with a lesser score (even 0), but that means your rate will probably be through the rood.

And it’s very unlikely to find a lender that will not check your credit. However, here are a few options for getting a dental loan without a credit check.

iCare Financial

Through iCare Financial, you can get a dental loan of up to $20,000. To get this deal, you’ll need to verify that your dentist works with iCare. If they don’t, you can visit their website and find a nearby dentist who does.

The way it works is that you pay 30% of the dental costs upfront (plus an admin and application fee) and connect your checking account. Then you can get funding for the rest of the cost.

Payment Plans

Most dentists are willing to work with you if your budget is tight. You can ask about setting up a payment plan — it’s kind of like a no-interest loan in that you pay the full cost of the dental treatment in a series of monthly installments.

Before you go in for a dental service, talk to your dentist to see if they offer something like this.

Dental Discount Plans

You can apply for a dental discount plan with no credit check and get approved in just minutes. Then you can present your dental discount card at every single visit to your dentist’s office to save up to 60% each time.

This is both a great alternative to dental insurance or a dental loan.

Yes, you can get a dental loan even with bad credit, but the rate may be higher and the loan amount lower.

How To Get Dental Loans?

The way you go about getting a dental loan is pretty much the same regardless of the company. Essentially, a dental loan is a personal unsecured loan that you use for the cost of dental services.

There are a few ways you can go about this.

First, you can go through your bank or credit union to apply for an unsecured personal loan. Most likely, you’d have to visit a brick-and-mortar bank office, but many banks allow you to apply online nowadays.

Second, you can go the route of peer-to-peer lending. These types of loans are crowdfunded among investors rather than a bank. Typically, you can get P2P loans at lower interest rates.

Lastly, you can borrow from online lenders. Examples of these types of loans are the ones we talked about in the above comparison chart. Basically, you apply online, get approved (or declined) in a matter of minutes, and usually get your funds in as little as a business day.

The process for getting a dental loan is pretty much the same no matter which company you work with: apply online, get approved, get funded in as little as a business day.

Summary

  • A dental loan is an unsecured personal loan that you use to pay for the cost of dental services
  • Despite having bad credit, you can get a dental loan (although the rate may be higher and the loan amount lower)
  • Getting a dental loan is a simple process: apply online, get approved, and get funded in as little as a business day

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