Dental Financing with Bad Credit. How to Cover Dental Expenses?

Dental Financing with Bad Credit. How to Cover Dental Expenses?


13 Min Read

The scariest thing when we were kids was going to the dentist. Being an adult, the terrifying thing is a bill for dental treatments. Why? Because it can reach thousands of dollars.

An American spends, on average, $2.560 on dental works. The complexity of the work required justifies the value; 7 out of 10 patients need laborious dental services and complete dental restoration in one in ten cases. In this context, it is unsurprising that the lack of money is a common reason for postponing a visit to a dentist.

What if your insurance can’t cover the dental bill and needs too much money to eliminate tooth pain? Borrowing from family members or friends would make you look desperate. And a bad credit score stops you from going to a traditional bank. Is there a light at the end of the tunnel? Of course! Let’s discover modern dental loan options and assess your chances of getting dental loans with bad credit.

Dental services encompass a range of procedures and treatments aimed at maintaining oral health and addressing dental problems. Some of the most popular dental services include routine check-ups and cleanings, fillings, crowns, and teeth whitening. Prices for these services can vary depending on several factors, including the location, the dentist’s experience, and the complexity of the procedure.

Here are some of the popular dental services and their approximate prices:

  • Routine check-ups and cleanings;
  • Crowns;
  • Teeth whitening;
  • Root canals;
  • Dental implants.

What is Dental Financing?

Dental financing is the process of borrowing money to pay for dental treatments. It means making monthly payments till paying all the loan debts. This financing is provided if your dental insurance can’t cover all the procedures’ costs at the dentist.

Unfortunately, not all institutions are ready to work with people with poor borrowing histories. However, you may rely on online lenders, in-house financing, or credit card issuers.

Can I Get Dental Financing with Bad Credit?

Getting a dental loan with a bad credit rating may be challenging. Usually, institutions that provide personal loans and credit cards perform hard credit checks through major credit bureaus. These detailed credit verification may affect your credit report.

Plus, bad credit means that you’ll get a substantially higher interest rate for dental loans. So, before requesting dental financing (bad credit), know that an excellent score is considered 850, and a low credit rating is 580. If traditional financial institutions deny your request, almost every dental clinic should have an in-house financing option for people with bad credit.

Bad Credit Dental Loans

The first thing you should know is that bad credit dental loans have low approval odds if clients’ credit reports contain delinquencies, late payments, or other damaging marks. But you can increase your chances of getting approval by following these tips:

Assess your credit profile before other companies will do it. Many companies may provide you with all the information about your credit background without damaging it. Try NationalCreditReport.COM to check your credit rating. It is free, online, and 100% safe.

Opt for subprime lenders. They work with consumers with bad credit and may provide you with even a personal loan.

Try to find alternative financing if your insurance can’t finance dental work, such as regular dental checkups and cosmetic dental procedures like teeth whitening.

Bad Credit Payment Plans

Paying for a dental procedure is difficult when having a poor credit history. But there is good news: dentists offer payment plans for dental care. These dental payment plans are financing programs that consist of monthly payments and are interest-free.

More than that, some dentists may offer you an in-house payment plan that will cover the dental treatment. But some of them provide these dental loans through third-party lenders. So, there are chances that you’ll be stuck with a single lender who may have strict credit approval requirements.

No Credit Check Dental Financing

Most traditional financing companies provide hard credit verifications to assess your affordability. You’ll get only small financial help without a hard credit check. Companies are very cautious about lending you large amounts.

If opting for a no credit check dental financing, you’ll find the following obstacles:

  • Large down payment requirements (30% – 50% of the total cost of loan sum), plus an 8% origination fee.
  • Small borrowing limits (only up to $2,000).

But there is always a hidden solution to getting suitable dental loans. Direct lending companies may provide you with no credit check loans (guaranteed approval) with reasonable interest charges, origination fees, and no down payments.

Apply for dental loans with bad credit

How To Pay For Dental Work With Bad Credit?

As we said before, it may be challenging for you to get a personal loan to pay for dental work, especially if it has a down payment. Americans make dental visits almost every month if dental problems present an emergency. So, here we’ve listed other options for people with bad credit scores.

Interest-Free Credit Cards

Sure thing, you can also rely on a credit card with zero interest rates for an introductory period and balance transfers when paying for dental work. According to UpGradePoints.Com, approximately 87% of Americans have credit cards that help them pay for different goods and services.

Medical Credit Cards

A medical credit card is very similar to a regular credit card, but people can use it only for healthcare. Consumers may pay a qualified healthcare provider on time, and after that, they will owe a credit card issuer and make monthly payments to them.

Also, medical credit cards are available with a certain period of deferred interest. If the consumer can repay the debt within the delayed period, they may avoid paying the charged interest. But if they don’t manage to pay it off on time, the borrower has to pay all the interest rates from the beginning of the loan. In that case, the total interest may reach a more considerable amount than expected.

Unsecured Personal Loans

Unsecured personal installment loans are among the most famous financial products available for people with low credit scores. Secured loans with monthly installments require collateral and have a hard approval rate that takes several business days. It may be a vehicle, real estate, or other valuable objects.

>Being a secured financial product, a personal loan for 500 credit score has a lower annual fee than an unsecured one. If you can’t present valuable collateral, need dental implant financing, and want to save money, consider an unsecured installment loan that doesn’t require personal possessions to be used. This financing option will have a higher interest rate, but it is worth to be taken thanks to its fast funding and almost instant loan approval decision.

Online Lenders

The last but not the least reliable option is online lenders – alternative financial companies that provide short-term loan services and are ready to work with clients who need money for dental treatment. Usually, online lenders are not as credit-demanding as traditional financial institutions. They perform only a soft credit check that doesn’t affect the FICO score of borrowers.

The maximum loan amounts vary based on state laws, income, or other information about your employment. The average cost of dental loans from online direct lenders ranges from $10 to $30 for every $100 borrowed. The main advantage of direct loan providers is that you can use their dental loans for medical expenses and other emergencies.

How to Compare Personal Loans for Dental Work?

A personal loan may be a good option if you need dental work but don’t have the funds to pay for it out of pocket. However, not all dental loans are created equal, and it’s important to compare your options before committing to one. Here are some steps to follow when comparing personal loans for dental work:

Determine how much you need to borrow: Before comparing dental loans, you need to know how much you need to borrow. This will help you narrow your options and find a loan that meets your needs.

Compare interest rates: When comparing dental loans, consider their interest rates. You’ll pay these fees to the lender that provides you with money. The lower the interest rate, the less money you’ll pay besides the loan amount borrowed for dental procedures.

Consider fees: In addition to interest rates, you’ll also want to consider any fees associated with the loan. Some lenders may charge origination fees, prepayment penalties, or other fees that can add to the loan cost.

Look at repayment terms: Finally, consider the repayment terms of each loan. How long will you have to repay the loan, and what will your monthly payments be? Choose a loan with repayment terms that fit your budget and timeline.

What Are The Benefits Of Dental Financing?

If you can’t decide on getting financing for your dental bills, see the list of its main benefits:

  • It has a low-cost equated monthly installment that can fit your monthly income.
  • It covers almost all the expenses for financing dental work.
  • It can help you keep your savings for non-medical purposes.
  • It is approved within 24 hours, and you may access the amount instantly.

Things To Keep In Mind Before Choosing Dental Payment Plans For Bad Credit Score

Don’t be a risky borrower and think twice before applying for this financing. These are our tips for helping you make an entirely informed decision:

  • Pay all your dues if you have other outstanding loans.
  • Don’t issue a new credit card if you already have one for the same goods or services.
  • Take a joint loan if you have a trusted co-borrower.
  • Choose EMI (equated monthly installment) option.

How to Apply for a Dental Loan?

If you need to get a dental loan to finance dental procedures or treatments that are not covered by insurance, here are the general steps to follow:

Check your credit score: Before applying for a dental loan, it’s important to check your credit score. A good credit score will increase your chances of getting approved for a loan and will also help you get better interest rates.

Research lenders: Look for lenders that offer dental loans. You can find dental loan providers online or through your local bank or credit union.

Gather necessary information: Gather all the necessary information required by the lender, such as your personal information, employment details, and financial information.

Fill out an application: Fill out the loan application form accurately and completely. Be sure to provide all the necessary information and documentation.

Wait for approval: After submitting your application, the lender will review your application and decide whether to approve or deny your loan request. If you are approved, the lender will provide you with the loan amount and the terms and conditions.

Use the funds: Once you receive the funds, you can use them to pay for your dental procedures or treatments.

dental financing with bad credit

Alternatives to Dental Financing

If you don’t want to borrow from specialized financial institutions, check our tips for finding a viable alternative to pay for dental health care.

Opt For Less Expensive Dental Care

We advise you to think twice and shop for less costly dental care. For example, you can find a dental school that provides cheaper dental services. Future dentists are supervised by already qualified specialists. This option will work for people with a challenging budget.

Adjust Your Bill

Dental care doesn’t have a stable price. It can be your salvation if you have time to do cost research regarding the average costs of your dental expenses before accepting treatment. If your dentist’s prices are higher, discuss the average market prices. Plus, you can always demand discounts.

If one dentist may give you a significant discount, consider you are the luckiest patient. For example, the treatment of infected root canals may cost you more than you thought. In this case, a slight discount from the dentist may help decrease your medical bill. So, don’t be shy to demand your rights.

Tax Break

If you can’t afford to pay for your dental treatment, you can always request a tax deduction for it. American tax law allows consumers to deduct their taxable income for certain dental costs. It is possible only if it exceeds a certain percentage of their gross income per year.

Ask Family Members And Friends For Help

Even if you can’t build good credit fast and most options don’t work for you, try to speak with a family member ready to help you pay for your dental bill. Borrowing from friends or relatives may be technically much easier compared to the traditional option of getting financial aid. Remember that asking for money from family members and not paying on time may damage your relationships and make you look dishonest.

Opinions Expressed

With 35 years of financial experience, Art Wiederman is director of dental practices for Eide Bailly, one of the nation’s leading CPA companies. Wiederman provides various financial services, including accounting, tax and financial planning, retirement planning, and financial practice management. In the context of dental financing, he says that a small budget should not be an obstacle to solving dental problems or getting the smile you dreamt of.

Out of concern for patients, dental clinics offer the best treatment and financing solutions together with the companies that offer the best dental loans so that you do not have to make special financial efforts. These solutions are straightforward to access, being available for each patient with any type of FICO score.


Will My Dental Financing Cover The Procedures I Need?

Sure, if you assess precisely the correct sum, you need to pay for them. We always suggest our clients think twice before choosing the loan amount. Opt for specific financing that won’t get you into a debt cycle.

Doesn’t My Dental Insurance Cover This?

These insurance policies don’t cover emergency dental care or procedures that weren’t approved beforehand by their underwriting department. Also, dental insurances have specific plans which contain a list of covered or uncovered procedures.

Can You Finance Dental Procedures?

1F Cash Advance is not a lender, but we can connect you with thousands of direct lending companies. You don’t need your dentist’s approval, and no third party is involved in the borrowing process. You will receive the required amount on the next business day.

What Credit Score Do I Need to Receive Dental Financing?

To receive traditional dental financing from an insurance company, you need to have a good credit score. It can reach 850, which is considered a perfect FICO score. But if your credit rating is poor (below 580), you may always rely on us. Here you’ll get the financing you need to pay for your dental bills.

Should I Go For Credit Cards or Personal Installment Loans to Pay for Dental Treatments?

It depends on your possibility to repay them, your creditworthiness, and other factors that vary by lender. As said before, your good credit history will lead to getting approval from a service provider or credit card issuer. If you can’t repay a particular financial product, opt for other alternatives.

How Long Will It Take To Pay Off My Dental Loan for a Bad Credit Score?

The loan term varies by the amount you apply for and the procedures you got. Usually, it takes 30 days to several months if your mouth health needs too many interventions. Remember that you can always negotiate the loan term to fit your financial situation.

Apply for a Dental Loan even with Bad Credit!Apply

Kerry Vetter

Written by Kerry Vetter

Written by Kerry Vetter

Kerry is a finance expert thanks to her Boston College education during the 1990s. Today she shares this valuable knowledge through the pen and online from her home in Chestnut Hill, Massachusetts. The years of experience results in relevant, practical and wise advice.

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