Lasik Eye Surgery Financing For Good & Bad Credit
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Best Lasik Eye Surgery Financing - No Credit Check Ok
Laser-assisted in situ keratomileusis (LASIK), otherwise known as laser eye surgery can be used to improve or correct vision. The freedom from glasses and or contacts, and the ability to see more clearly are motivating factors to pursue LASIK. During surgery, the shape of the cornea is changed with a special type of cutting laser. Some types of vision problems that LASIK can correct are nearsightedness or myopia, farsightedness or hyperopia, and astigmatism. Those that are considering LASIK are usually already wearing glasses or contacts.
However, this cutting edge surgery comes at a cost, and one that’s not usually covered by insurance. From wondering how much LASIK surgery costs to what kind of payment options are available, we’re here to help answer your LASIK financing questions. Keep your eyes glued to the page as we review everything you need to know about LASIK financing.
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How can I get a loan for LASIK surgery?
It’s not uncommon for one to need or prefer a loan to cover the cost of LASIK surgery. Therefore, you may have a few options to consider.
- Credit card: Credit cards can be used to cover the cost of LASIK eye surgery. Before swiping though, consider the cost of financing with a credit card. Some creditors such as Care Credit specialize in credit cards with promotional financing for cosmetic surgeries, vet bills, and so forth. Similar to Care Credit, LendingUSA can offer promotional financing. If the principal balance is paid in full within the promotional period, you can avoid paying any interest. Both lenders are dedicated to helping customers get the care and services they need.
- Financing offered by the doctor’s office: Some LASIK practice’s partner with lenders to offer patients financing options. This may even be how you find promotional financing offers such as those offered by Care Credit and LendingUSA. Financing is a popular way to afford LASIK so you might find more practices that offer financing than you think. However, there are alternative options so you don’t have to choose your practice based on financing options.
- Personal loan: Personal loans are unsecured installment loans that can be used for LASIK. You may also be able to use the funds to make it by during recovery. Personal loans are often funded as a lump sum and repaid in fixed monthly installments. Therefore, the practice does not even need to know you are technically using financing. Personal loans are well-loved for their flexibility and fixed monthly payment structures. With few spending restrictions you can access the funds you need, quickly. Our lending partners can fund loans in as little as 1-2 business days, although funding times can vary.
You may also want to check to see if you can use funds in your flexible spending account (FSA) to pay for LASIK. Some employers offer FSA accounts; an account for pre-taxed money for designated uses. In some cases you may already be paying in an FSA without awareness. If you can use funds from a FSA you may be able to avoid LASIK financing.
Read more - FAQ
+What is the average cost of LASIK surgery?
The average cost of LASIK is around $5,200 according to the National Library of Medicine. However, there are many variables that can impact the total cost of LASIK such as your vision and technology to be used during surgery. For example, some patients may only need LASIK in one eye. Per eye you can expect to pay in the range of $1,000 to $4,000 for LASIK. While it may be tempting to shop on price, the quality and experience of the doctor can help you see clearly.
Is LASIK worth it financially?
Our natural health and senses are not to be taken for granted. However, neither should our financial stability. Whether or not LASIK is worth it financially is a personal decision. If you wear contacts or glasses, the cost may add up over the years, thus helping justify the cost of LASIK. In addition, if your eyesight is impacting your ability to work, you may create more opportunities by undergoing LASIK surgery. To help you determine if LASIK is worth financing you can get an estimate for surgery costs and compare financing offers. These preliminary steps can help you evaluate the potential pros and cons of LASIK.
Can I get LASIK financing with bad credit?
Qualifying for any type of financing with bad credit can come with fewer options and higher costs. A good place to start is checking your credit score to determine if it’s indeed, bad. FICO® scores can be categorized as exceptional, all the way down to poor.
- Exceptional FICO® score: 800-850
- Very good FICO® score: 740-799
- Good FICO® score: 670-739
- Fair FICO® score: 580-669
- Poor FICO® score: 300-579
Credit score ranges and ratings can vary, but this can offer a general idea. Offers are more likely to be returned to borrowers with fair credit and above, although there are no guarantees. Lenders can evaluate other factors during the approval process as well such as income and debt-to-income. Some lenders allow applications to apply with a co-borrower which can increase your chances of approval. If you don’t qualify now, invest time boosting your credit score and try again at a later date.
Is financing LASIK a good idea?
Financing can offer individuals opportunities to afford things such as LASIK. In some cases, individuals can afford LASIK or similar surgeries without financing, but appreciate the benefits that financing offers such as fixed monthly payments. Financing can be a good idea, but it will depend on personal circumstances. Before utilizing financing it helps to understand the agreement and costs associated.
Can you get LASIK financing with no credit check?
You may be able to receive pre-qualified offers without undergoing a hard credit pull. What this means is that lenders can generate an offer based on your information. However, before funding the loan the lender will likely need to verify your information, which can include a hard credit pull. While it may sound ideal to get a loan with no credit check, most legitimate loans require a credit check.
Can you pay a LASIK loan in installments?
There are a few ways you may be able to pay for LASIK in installments. Some financing options such as personal loans offer fixed monthly installments. Alternatively, some practices may offer payment plans not attached to a loan. Payment plans are usually much shorter periods which translates to much higher installments.
What are the pros & cons of LASIK financing?
Considering the pros and cons of LASIK financing can help you make the right choice. Outside of the general pros and cons listed below, consider those that might be specific to your life.
Pros:
- Improve your quality of life
- Potential savings on glasses and or contacts
- Fixed monthly payments
- Competitive online marketplace
- Promotional financing offers may be available
Cons:
- Taking on debt
- Falling behind on payments can negatively impact credit
- Taking a loan can negatively impact credit
- Potential risks of undergoing surgery
What credit score is needed for LASIK financing?
While credit score requirements can vary, offers will be more likely to be returned for borrowers with fair, good, average, or exceptional credit. Most lenders on the Acorn Finance platform have a credit score cutoff of 600 or above.
See also: Medical Expenses Financing
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