Dental Implants With Low Monthly Payments
Dental implants are a natural looking and healthy way to replace missing teeth! Implants have the added benefit of supporting bone health and are able to last a lifetime with proper care and maintenance so while dental implant may be a more expensive treatment option in comparison to other restorative treatments, they may be more cost effective for some patients in the long run.
Dental implant placement can cost between $1500 and $3000 per site and the restoration with a dental prosthesis can tack on an additional $5000 per site. If the patient needs a bone graft or a gum graft before an implant can be placed, there will be an additional cost. A three tooth implant bridge may cost up to $7000, the cost increasing with any additional teeth that need to be replaced.
If you have dental insurance, most dental plans will pay out between $1500 and $2000 per year and may not cover all restorative treatment. Make sure that you understand what your dental plan will cover so that you can anticipate your out-of-pocket cost. One way to maximize your dental benefits is to receive treatment over the course of two benefit years, having your implants placed in the first year and the restorations completed in the following year. If you do not have dental insurance or still need financial assistance, there are a few financing programs available to patients seeking dental implant treatment.
In-house Financing With Your Dental Office
When it comes to financing dental treatment, your first inquiry should be with your dental office. Many offices offer in-house financing that can help patients avoid the additional cost of interest that may come from other financing options. When you receive your treatment plan, discuss your financing options with the financial coordinator at your dental office.
Dental Discount Programs
One option that may be considered as an alternative to traditional insurance is a dental savings plan. As opposed to an insurance plan, a dental savings program does not have a waiting period before you can begin to take advantage of your benefits. As soon as you join a discount program, you can put your new benefits to use. A dental savings program may be able to save the patient between 10% and 60% on their dental care, including dental implant treatment! A discount program is an affordable, flexible option for patients but it is only good for the treatments specified within the plan so make sure that you select a discount plan that can be used with your proposed treatment.
Even if your dentist is not in the discount program network, there are many qualified dental professionals at your disposal with whom you can take advantage of your discount program. Dental discount programs prescreen dentists and dental professionals before accepting them into the network so you can be sure that you are receiving quality care.
Flexible Pay-Over-Time Plans
One type of third party financing option that your dental office may accept is through a lender offering flexible pay overtime plans. This type of financing company usually works for any patient, including those who may have a low credit score. Some offices offer this type of financing in order to provide treatment to patients who would otherwise be unable to receive quality dental care. A flexible pay overtime lender uses an underwriting process that takes into account more than just the patient's credit score when determining the risk of lending. A flexible pay overtime plan will likely require a down payment and interest will accrue during the term of the loan.
Sub-Prime Lender Financing
Another third-party option is a subprime lending company that also uses more than the credit score when determining risk of lending. Factors such as the patient's income, employment history, payment history, and other credit information is gathered and assessed to determine if the patient is a good investment. Subprime lenders will also require a down payment or origination fee and interest will accrue during the term of the loan.
These types of financing companies usually require a credit score of at least 640 and are typically excepted by a large range of medical professionals including dentists. If your dentist except one of these third-party financing companies, ask about the financing terms they offer. The lending company may offer a wide range of loan terms, possibly up to five years, but the dental office may only accept certain terms, say 6 or 12 months.
With one of these companies, the patient will apply for a medical loan and use that loan to pay their dentist directly in full. They will then make payments to the medical loan company until it is paid off. Some of these loans offer "deferred interest” which does not mean that you will not accrue interest, you will simply not be charged interest if the loan is paid off on time. If the term of your loan expires and you have failed to fully pay it off, the interest that has accrued since day one will be charged.
Personal Bank Loan
A final lending option that might be worth considering is a personal loan through your bank! Patients with good credit may be able to receive an unsecured loan for which no collateral is required to receive funds. If your credit score is not so great, it is still worth looking into a secured loan. A secured loan will require collateral which may be a car title or real estate deed. Your bank may even be able to offer you a secured or unsecured line of credit which would allow you to use the funds as you need them instead of being issued one lump sum. A revolving line of credit would give you the flexibility of using funds, repaying them, then using them again if needed.
An unsecured loan would be the best choice but does require excellent credit. If an unsecured loan becomes delinquent, the bank will use a collection agency to obtain repayment. If you have something to put forward as collateral, a secured loan might be your best bet!