You may have to finance your plastic surgery if your health insurance does not cover elective cosmetic operations. One approach to pay for cosmetic surgery is to take out an unsecured personal loan.

Compare a loan to other choices for financing an elective surgery to get the best personal loan that pays for the procedure you desire without adding unmanageable debt to your budget.

Examine your credit report.

You have a higher chance of qualifying for a personal loan and getting a cheaper interest rate if you have a good credit score. Check your credit score to determine your creditworthiness. Are you dealing with a less-than-ideal score? Fix any errors that are causing it to slow down. You can get a free credit report and contest any errors, such as missed payments that were incorrectly reported.

Estimated rates are compared.

Knowing your credit score might help you estimate the yearly percentage rate and monthly amounts you’ll pay on a personal loan. Make estimates based on your credit score and analyze the impact of monthly payments on your budget using the calculator.

Get a loan pre-approval.

Pre-qualifying for a personal loan allows you to see what kinds of offers you might get from different lenders. During pre-qualification, many online lenders and banks run a mild credit check that has no impact on your credit score.

You must normally supply personal information during pre-qualification, such as your name, date of birth, income, and loan purpose.

You can compare predicted rates and payment amounts by pre-qualifying with multiple lenders. Consider a secured loan or adding a co-signer or co-borrower to your loan application if you have a fair or terrible credit score. These solutions can help you qualify for a loan and earn a reduced interest rate. However, if you fail to repay, both choices have ramifications for the collateral or co-applicant.

Pay attention to the small print.

Read the terms of the loan carefully and receive answers to your questions before signing. Keep an eye out for: fees, automated withdrawals, and APR surprises. Look for lenders who provide consumer-friendly loan features such as reporting payments to the three major credit agencies, allowing borrowers to adjust their payment date, and delivering borrowed funds straight to creditors for debt consolidation loans.

Approval and application

You’ll give papers to properly apply for the loan once you’ve found a lender that meets your demands.

Although each lender’s requirements may differ, you’ll almost certainly need:

A passport, driver’s license, state ID, or Social Security card are all acceptable forms of identification.

Address confirmation: Bills for utilities or a lease agreement.

Pay stubs, bank statements, or tax returns are all acceptable forms of proof of income.

During the loan application process, you’ll be required to submit documentation proving your identity, verifying your address, and demonstrating evidence of income.

A hard credit check will be performed by the lender, which may temporarily lower your credit scores by a few points and remain on your credit reports for 24 months. You’ll get your funds according to the lender’s terms after final approval, which is usually with

Alternatives to paying for cosmetic surgery

Insurance. Some procedures that you would consider cosmetic may be covered by your insurance, at least in part, if they’re medically required. After an injury, for example, your insurer may fund reconstructive surgery.

Savings. Nerd Wallet advises saving for elective surgery in the same way it advises saving for most other discretionary expenses. You won’t incur any debt or pay interest if you save up enough money to pay for the treatment yourself, making it one of your most cost-effective options.

Payment arrangements are available. Your doctor’s office may be able to work with you to set up a payment plan that fits your budget and, in certain situations, does not include interest.

Credit card for medical expenses. Medical credit cards, which are offered by some medical providers, might be a no-interest funding option in a week.