You can often apply for a loan for your dental treatment in the dentist’s waiting room. Providers, such as Z | easy, promise cheap credit and direct billing with the dentist and the laboratory.
We want you not to be blinded by advertising. In June 2016, we compared the special loan for dental treatment with the equivalent of tooth financing through direct banks. Our tools for credit comparison are the installment calculator on the special provider’s side and a free credit comparison calculator.
Dental treatment credit – best treatment for self-payers
With their credit for dental treatment, patients compensate for the lack of care after various “health reforms”. In return, the dentist gives self-payers access to the latest treatment methods and the best dentures. Dentists can now finally recommend the veneer instead of the crown in a cost-neutral manner. Dentists no longer have to grind half a tooth so that the patient does not have to pay the costs.
From this perspective, the current situation, with fixed subsidies from health insurance companies and optional supplementary insurance, even offers the chance of more dental health. If patients pay for the services themselves, you can of course decide what happens to your teeth. Gold instead of steel – quality can decide from the inlet to the dental implant. Second-class dentistry for everyone has given way to two-class medicine.
Because, the high own contribution decouples people from good dental treatment who do not have sufficient creditworthiness for regular lending. Credit for dental treatment is only granted by regular banks and the specialist provider if a sufficiently good credit rating can be demonstrated. This gives a fair starting position for the comparison of credit costs.
Dental loan – loan comparison special loan versus direct bank
People are looking for dental credit in a range from around 2500 to 15000 USD. For example, a fixed anterior tooth bridge in veneered precious metal costs around 2400 to 2800 USD. (Depending on the bonus). A single implant is roughly at the same price level, although potentially necessary bone growth increases the price by leaps and bounds. Four support teeth as implants, without major complications, lead to a share of 14,700 USD.
In comparison of convenience, the special credit for dental treatment scores through direct billing with the dentist and the laboratory. But in order to save two online transfers, a post office would have to be visited twice to apply. It would be easier to apply for a loan from the direct bank with a videoident check. Without leaving home, the credit process can be completed in less than 30 minutes.
In this case, instead of going to the dentist, the approved loan ends up in your own checking account. It takes about two to three working days for the money to arrive. As a first comparison value, we enter $ 2,700 credit for dental treatment in the rate calculator of the specialist provider. For a monthly rate of 122 months, the sum would be financed with a term of 24 months. This results in a total of 228 USD in financing costs. (6.90 percent APR).
For the same loan amount, with interest independent of creditworthiness, the free credit comparison calculator suggests an installment payment of 114.59 USD. The credit comparison calculator shows the effective annual interest rate for this loan offer, again with a term of 24 months, at 1.79 percent. The direct bank earns a total of 50.22 USD from the financing. Direct bank financing would thus be almost 178 USD cheaper than special financing.
Credit comparison – 15,000 USD credit for dental treatment
The special loan offers 15,000 USD credit for the dentist bill at 9.90 percent APR. With a term of 72 months, monthly installment payments of 275 USD would have to be made. Overall, the financing costs for the special loan amount to $ 4800 interest.
The same amount could be raised via the free credit comparison at 3.69 percent effective APR. With a term of 72 months, the monthly installment payment for the direct bank loan is $ 232.15. In total, the direct bank loan costs interest of 1714.86 USD.
Conclusion credit comparison – dentist loan
The apparently convenient offer to finance dental treatment directly from the waiting room is not necessarily the optimal solution. The only noticeable advantage in comparison would be the convenience of direct billing. The application process itself is much less convenient than with a direct loan. In the cost comparison, the credit for dental treatment via special financing is completely out of the ordinary.
With small loan amounts, the financing costs about four times the price of financing a direct bank. In the case of a larger loan for dental treatment, the official rate calculator of the specialist provider calculates 2.8 times the financing costs. With such large sums, it would be extremely expensive to ignore the price difference. With 15,000 USD dentist credit through the specialist provider, 3085 USD interest would be paid unnecessarily.
Recalculating and comparing is always worthwhile. With the loan for dental treatment, you can save a lot of money by visiting a free credit comparison. Our recommendation from people with restricted credit ratings, for whom neither a special offer nor a direct bank loan are eligible, is Astro Finance.
Astro Finance offers people serious access to credit that would otherwise fall victim to two-tier medicine. Low-interest loans, probably even cheaper than the special offer, could also come from private sources.