The whirring of a dentist’s tools can cause many of us to wince. Even if the drills and scalar picks don’t make you clench your jaw, the bill for dental procedures can still hurt your back pocket.
There are a few options for financing dental treatment, but your options might be limited if you have a poor credit history.
We break down dental finance into bite-size pieces, so sink your teeth into our dental finance guide below.
Can I reduce my dental expenses?
Major dental work such as orthodontic treatment or root canals often cost thousands of dollars, not to mention cosmetic dental work such as dental implants. For common dental procedures, taking care of your oral health is one of the best ways to help reduce your dental costs.Regular check-ups, cleans and x-rays of your teeth are a fantastic way to stay ahead of dental disease. Your dentist will be able to advise of the cost for those regular treatments, which you can then look to consider in your budget. More importantly, taking an interest in your dental care past simply teeth cleaning can keep you out of the dentist’s chair.
Private health insurance
Private health insurance isn’t compulsory in Australia, but if you do hold it, consider whether your level of dental cover can assist in reducing the cost of your dental expenses. If you have ‘general dental’, this may not cover some of the more major dental treatments or cosmetic procedures.Top Tip
Check with your private health fund provider if they offer free dental check-ups. Prevention is one of the best ways to avoid costly dentist trips in the future, so check to see what level of preventative dental healthcare you’re covered for.
What are my finance options for dental procedures?
Depending on the work that you’re getting done, whether it’s routine or emergency dental work, your dental costs can range from a few hundred to a few thousand dollars. Most Aussies don’t just have that kind of money lying around.Dental emergencies can’t wait for you to save up to afford them. Here are some of the most popular financing options for dental expenses:
Dental Finance at Finance One
If you have a bad credit history, contact the team at Finance One for further information — we take a minty fresh approach to finance.Apply Online Now
Dental payment plans
Many dental practices offer payment plans for a range of their services. A dental payment plan will vary depending on the surgery, so it can be hard to rely on this option without first discussing it with your dentist.What some patients don’t realise is that the dental practice may engage a credit provider to facilitate the payment plan — it may not be as simple as paying your invoice over several monthly repayments. This often means that credit checks are involved. If you have bad credit history, this might mean you’re unable to meet the eligibility criteria for the payment plan, even if you can confidently make the payments based on your income.
Credit cards or Buy-Now-Pay-Later service
Another dental finance option that many fall back on is a credit card or buy-now-pay-later service. If it’s just fillings that you’re getting, or perhaps teeth whitening, credit cards can feel like an easy option, however, the interest rate on credit card purchases can often be high. Additionally, you need to make sure you have the available funds available on your credit card to pay for the dental procedure.Naturally, for a treatments like braces, making a significant purchase on your credit card could mean you end up paying hundreds more in the long run when you consider the applicable interest rates and fees.
Similarly to payment plans, if your credit report is poor, chances are you could find it hard to be approved for a new credit card.
Dental finance
If you’re looking at getting expensive dental work done or need to find the funds to pay an unexpected dental bill, then dental finance may be the solution. Dental finance works similarly to personal loans. Personal loans generally have lower interest rates than other finance options such as credit cards, however that depends on the personal loan you choose.Dental finance can provide the funds you require upfront, which you then repay to the personal loan lender. Your repayment amount will depend on the loan amount, the loan term (how long you choose to take the loan over), the interest rate and any other regular fees.
How can I get dental finance with bad credit?
A common mistake people make when comparing personal loans is to rely on the comparison rate. While the comparison rate is a useful tool to compare personal loan options that are available, it doesn’t consider your personal circumstances (such as a poor credit rating).Finance One dental finance
Even if you have some money to put towards your dental treatment or are partially covered under your health fund, dental finance can make financing a trip to the dentist more palatable. At Finance One, we help everyday Aussies afford the dental treatment they need.If you’re looking to use dental finance to help pay for dental work but are worried your credit score might be holding you back, we can offer medical and dental finance to Australians
who are:
- Over the age of 18.
- A permanent resident or Australian citizen.
- Are receiving regular income (even Centrelink payments).
- Are looking to borrow between $5,000-$25,000*.
Typically lenders will charge you more to repay your personal loan early, but not at Finance One. We want to help you get ahead, which is why we allow you to make extra repayments on your dental finance loan without penalising you.
We are here to help...
Finding the right loan for your dental finance doesn’t need to leave a bad taste in your mouth. If you have a bad credit history, contact the team at Finance One for further information — we take a minty fresh approach to finance.Apply Online Now
*Personal Loans over $15,000 must be secured.
**48-hour approvals are subject to satisfactory documentation being received to assess the application.
Normal lending criteria apply. Fees and charges are payable. Terms and conditions apply.
Finance One means:
Fin One Pty Ltd – ABN: 80 139 719 903
Australian Credit Licence: 387528
Disclaimer: The information above is of a general nature only and does not consider your personal objectives, financial situation or particular needs. You should consider seeking independent legal, financial, taxation or other advice to check how the information relates to your particular circumstances. We do not accept responsibility for any loss arising from the use of, or reliance on, the information. Please note that approvals for loan applications are subject to satisfactory documentation being received to properly assess the application. Normal lending criteria apply. Fees and charges are payable. Terms and conditions apply.
