Cosmetic Surgery Finance is big business, there's no two ways about it. A culture of instant gratification seems to have given rise to us taking out loans for anything and everything, and this includes finance for surgery or medical treatment.
Is Cosmetic Surgery Finance okay? This really does depend, but generally I would say that if you can't afford your cosmetic surgery at the moment, maybe now is not the best time. Too many people get themselves caught-up in no end of bother with credit, and with something like cosmetic surgery, the risks are that much greater.
I know that as a patient we don't really want to think about it too much, but with cosmetic surgery, there is always the risk of something going wrong. It is essential that you consider the worst-case scenario. If the worst happened, and your plastic surgery had complications that resulted in you being unable to work for an extended period, how would you repay your plastic surgery financing?
To me, at least, that just sounds like unnecessary stress. Probably the only time that finance for elective surgery might sensibly be considered would be for weight-loss surgery. If you are seriously overweight, and the surgery is for the sake of your health, then perhaps there is an argument that the surgery can't wait, and that your health is the most important thing.
Even so, do be careful about who lends you the money for your surgery. There are many unscrupulous finance companies out there, so be careful who you choose. The "zero credit rating" ones are frequently the worst. DO read the small print. It is so easy to get sucked in by hearing about 0% interest-free periods that we often neglect to consider what the rate of interest will be after a year.
It is sometimes the case that finance companies offer 0% for a year, and then after that, the rate will be 25% APR, which spread over a period of 4 years can mean you are actually paying double the price.
It is definitely advisable to take out a payment protection plan of some kind. It will naturally involve a little more cost, but if the worst happened, worrying about money would at least not be an issue!
Unfortunately, the days of cheap and easy credit appear to be behind us, and with the present economic climate, the smartest patients probably choose to delay elective treatments until they can actually afford them. If any good comes out of the recession, it will surely be that we learn to live within our means, reduce our outgoings and learn to spend our money more wisely.
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