Liposuction Weight Loss

If you are looking at financing for liposuction surgery then there are a few industry practices that you need to be aware of. This is especially true if you are looking to apply for liposuction financing online since you are not sitting down with the lender face to face. Below we will discuss some of these issues, with the goal being to help you be aware of some specific practices that can end up costing you more money than necessary.

First of all, many liposuction finance options have a ‘zero-interest’ promotion. Using this financing option can be great – but only if you pay off the loan in entirety. Otherwise you will have to pay around a 25% interest rate for that funding, which you obviously do not want to do. This, however, is not the issue. While most companies will disclose that fact, they are not quite as up front about it as most people would like, and as such many people can get confused. Part of this confusion is further increased by how there liposuction cost calculators disply the monthly payments due. When you go to calculate these amounts, the numbers that are returned do not include interest costs – they assume that you will pay the loan back in full during the promotional period. The numbers returned are simply your monthly payment during the promotional period–there are no options to see what the payments are if you miss one monthly payment or if you don’t pay off the loan in full before the promotional time period ends. This can lead some people to think that is all there monthly payment will ever be, which is misleading. So, if you find yourself wanting to know exactly what your cost will be, you are going to need to calculate this yourself. This is especially true for those needing bad credit liposuction financing, as there interest rate will be higher than other borrowers.

Another potential issue that you need to be aware of when it comes to funding for liposuction is what happens to rates if you default on your payments. Most companies will immediately add 10% to your interest rate, with a cap around 30%. As such, be sure that you do not default on the financing – again, it would be better to not even take out the financing in the first place.

Finally, be sure that your financing for liposuction will cover all the associated costs. These costs include:

• Surgeon’s Fees
• Office/Hospital Fees
• Cost of the Anesthsia
• Medications (post-op)
• Tests (pre and post)
• After Surgery Clothing

Nothing is quite as bad as thinking that you have sufficient financing for the lipo procedure and then have those funds only good for the main surgeon’s bill and not the rest. 

Summary

Given all the issues associated with any type of loans/financing it’s always best to discuss your options thouroughly with your doctor or doctor’s office manager.  A good liposuction doctor will be able to offer advice regarding funding and financing, and may even offer in-house financing with better rates than what you would get in the marketplace.