How does dental finance work?


28th Apr 2021 Wellbeing

How does dental finance work?

Needing to have dental work done should not be causing you stress and anxiety, one thing you definitely don't want to be worrying about is how you are going to afford the dental work you need to have done.

It may be that you're not in a financial position to afford the dental work you need, but with dental financing you won't have to wait to smile again. Have your dental work done now and pay for it over the next few months, or even years.

What Is dental finance?

Dental finance is an easy and simple way to borrow money to cover dental expenses. If you need to have dental work done but you can't afford to pay for it right now, dental finance is perfect for you.

Depending on how much money you need to borrow will depend on the terms of your loan. With and through your dentist and denture clinic and even denture laboratory, you can borrow money to cover your dental work for up to 24 months with no added interest.

A 0% interest free payment plan means that you only pay for your treatment and nothing more. The cost of your treatment will for example, be split into manageable monthly payments and can be paid off for up to 5 years. Payments are taken by direct debit and there is absolutely no fee or penalty for paying off your loan early.

How much can I borrow?

The simple answer here is: whatever you need. There is no maximum or minimum payment needed to qualify for dental finance. Any dental work can be covered by dental finance which means you will never need to worry about not being able to afford the dental work you need. With up to two years completely interest free and low interest options for up to 5 years you are certain to find a plan that works perfectly for you.

How do I apply?

In order to find out whether you're eligible for dental financing you will need to complete a quick and easy credit application online. These checks can be carried out in the surgery. Most applications are approved instantly which will mean that once you applied you can book your procedure straightaway.

Why might I need dental finance?

There are a lot of reasons why somebody might need dental finance, but the most obvious is probably that you're not in the financial position to afford one large lump payment. With dental financing there's no need to pay all upfront. For example, perhaps you've just started a new job and you've been waiting to have new dentures fitted for some time.

 Because you have only just started working, you're not in a position to pay for the dentures upfront, an option for you here would be dental financing. Your dentures might cost £750, if you pay that off over 12 months you won’t need to pay any interest. A direct debit will be set up of £62.50 (750/12) every month. By using dental financing you’ve received the treatment you needed and you are paying for it in lumps you can afford every month. It’s not costing you any extra and you always have the option to pay it off early with no fees.

Remember the risks

Just as in the case of other forms of finance like home improvement finance, a mortgage or a mobile phone contract, you should always make sure and double check that you will be able to afford any repayments. You should also check whether or not the lender will perform a credit check and if so, whether it will be a hard or a soft credit check, with hard checks leaving a trace on your credit record.

If you are in a position where you feel you will be unable to mee the terms of the loan or finance in question, you should not opt to borrow the money or take out the finance plan. Rather, you should speak to family and friends to see if you can borrow money, as if the treatment is urgent, in the UK, the NHS may be able to cover the cost for you without the need for finance.

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