Feb 12, 2025
Figuring out how to pay for cosmetic surgery can be challenging. Procedures can cost thousands of dollars. But if it’s a high priority to you, there are options to pay for it.
In general, plastic surgery is a specialty that involves reconstructing or altering the human body. Plastic surgery may be used, for example, to reconstruct the body due to birth disorders, burns, illness, or trauma.
Cosmetic, or aesthetic, surgery is one type of plastic surgery. It is often designed to enhance one’s appearance. Liposuction, breast augmentation, and tummy tucks were the top procedures for 2023.1 Unless medically necessary, though, many plastic surgeries may not be fully covered by insurance.
If you’re considering plastic surgery, here are some approaches to financing your procedure that may help you decide what’s best for your situation.
Yes. Loans for plastic or cosmetic surgery are typically unsecured personal loans which may be used for any type of plastic surgery expenses. Other types of loans and financing options for cosmetic procedures or plastic surgery may also be available. When deciding which financing method is right for you, it’s important to consider the differences as well as the potential impact on your financial health.
Personal credit cards are a convenient way to finance plastic surgery. You may have enough credit to cover the cost of the surgery. You could also apply for a new line of credit. This may be an attractive option if you open a line of credit with a promotional 0% annual percentage rate (APR). The introductory period, however, is limited. If you don’t pay off the balance before the end of that period, you’ll be subject to the card’s standard interest rate. This can cost you much more in interest payments over time.
Some plastic surgeons offer in-house financing options for their patients. Be sure to ask your doctor about the terms and conditions and what interest charges may apply. Keep in mind that if additional procedures are needed, you may need additional financing to pay for it.
Medical credit cards may provide an easy-to-obtain method of financing for qualified individuals. As with all lending agreements, it’s important to read the fine print. Many of these plans defer interest during a promotional period. If you fail to make payments or still owe money after the introductory period, you may be subject to heavy interest charges or fees.
You might be able to borrow funds from your own 401(k) retirement account. Loan repayments may then be deducted from your paycheck until the balance is paid off. This can be an effective method to finance your plastic surgery. However, there are additional factors to consider. You will want to look carefully at any taxes or penalties that you may potentially encounter. Check with an accountant or tax specialist to learn more.
If you are a homeowner, a home equity loan is another possible financing option. The loan uses the value of your home as collateral. Keep in mind that home equity loans may either use a fixed interest rate or a variable rate, which means that your interest rate and your payments might change over the course of the loan. Financing with a home equity loan may be a good option if you need more than $40,000.
If you have enough funds in a savings account, you might consider paying for your procedure directly out of pocket. This would allow you to avoid taking on additional debt and interest payments. It’s important to consider how much of your savings you are willing to devote to plastic surgery. Spending your savings means that you may not have access to cash should an emergency occur.
A personal loan is an unsecured loan that may be used for almost any purpose. Because a personal loan offers a fixed term and interest rate, you will know what your set regular monthly payment will be for the life of the loan. This will make budgeting for the expense easier and predictable.
Personal loans often offer a lower interest rate than higher-rate credit cards. With a Discover® personal loan, you can design your loan around your financial situation. Pick the amount you need and the repayment term from options offered to fit your budget. For example, if you get approved for a $15,000 loan at 12.99% APR for a term of 72 months, you'll pay just $301 per month.
Discover Personal Loans also lets you find out your rate and monthly payment in just minutes with our check your rate tool, and there’s no impact to your credit score. Funds can be sent as soon as the next business day after your acceptance.
Like the procedure itself, choosing how to finance cosmetic surgery is a highly personal decision. There are pros and cons to each option. It’s important to consider how each possibility will affect both your personal well-being and your financial situation.
As you look for the option that best fits your life and your budget, you can use our Personal Loan Calculator to estimate what your monthly payments would be.
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