Nose job finance what you need to know
2. Competition, as more and more surgeons turn to cosmetic surgery for their primary income, competition has driven down the cost of cosmetic surgery.
3. Finance, one of the key factors in allowing people who wouldn’t usually be able afford such a procedure to proceed.
While the these factors are the same economic factors you would find for growth in any sort for business model, finance and cosmetic surgery can be a dangerous mix.
As you maybe aware credit companies haven’t exactly been looking after their customers as of late. Due to recent new regulations banks and financial institutions are really trying hard to create new profitable credit lines. The cosmetic industry is an ideal target for financing as you have a lot of people who may not be able to afford such a costly procedure, but have the drive and desire to get the procedure done, often without thinking too much about the financial consequences.
For a credit company this is like striking gold, not only for them but also for the clinic. Nose job finance through a clinic is usually never funded in house, but comes from a bank or financial institution. When a credit agreement is completed by the client the clinic is payed in full by the credit company. This is a very powerful tool for creating customers the surgery would never have been able to service without the aid of finance.
Why Is Nose Job Finance So Bad?
Lets be sure on this point, having finance for a cosmetic procedure isn’t necessarily a bad thing. There are however a number of reasons both psychologically and financially why nose job finance could be dangerous for a prospective client.
1.Having access to that sort of money in such a short period of time may cause the person to make hasty decisions that could effect otherwise cautious and logical choices.
2.Not all surgeries offer nose job finance, this can be a problem in itself due to the fact that just because a surgery has finance doesn’t mean they can perform the best surgery. Its unfortunate but a finance deal offered to the client in the correct way may well lure them away from who they believe is the best person to perform the surgery to a better financial deal.
Many clinics will now will offer interest free payment for 6 months upward, on the face of it this may look like a great deal but in reality the financiers are really looking for are people who will go over this period and make the loan very profitable. Statistically speaking there is usually a percentage of people who will do this.
Think of Nose Job Finance Like This
Say your financing £3,500 over 6 months.
That is £583.30 a month every month over 6 months.
That is a big chunk of money out of the monthly budget and if you don’t pay it in full and on time you can expect interest and late charges to be applied. Once the 6 months is finished you are then contracted to start paying interest at the rates set. This is where the finance companies really make their money, it can be a hard to pull yourself out of this debt when interest and charges are dragging you down.
The other thing to consider is your credit rating, having more credit added to any existing credit you may already have could prevent you obtaining vital loans in the future and that’s even if you pay everything in full and on time. Worst case scenario if you start missing payment etc. You may even stop yourself being credit worthy full stop.
If you are unable to afford surgery for rhinoplasty and cant obtain credit you may still be able to make a difference with a non-surgical procedure you can get more information in our guide.
Conclusion
Nose job finance in theory is not a bad idea as long as you take care and be cautious. If you must use credit, try to obtain the best deal on your finance. Ideally a personal loan will allow to choose the best surgeon without having to consider clinical finance options as well. Always read the small print, get and compare APRs, and the cost of any additional costs for penalties. If you think its going to be tight financially don’t proceed.
Above all, don’t rush in to anything. If you are excepted for a personal loan you still have to do your due diligence in order to have the best chance of a successful outcome with your cosmetic surgery. Nose job finance is now part and parcel of the industry just try not to be seduced too much that it effects your decisions on who is the best clinic for you.
