Laser-assisted eye procedure, also known as “LASIK,” offers a better quality of life because you can finally say goodbye to your glasses, contact lenses, and frequent visits to the ophthalmology clinic.
However, this surgery isn’t urgent in most cases, and like all elective medical interventions, it’s not covered by health insurance. This makes it unaffordable for many glass-wearers.
However, just because you cannot pay the full price of the procedure upfront, doesn’t mean you can’t have it. Fortunately, there are multiple budget-friendly options that you can opt for to have a LASIK surgery, on top of which comes laser loans. So, let’s discover them together.
How Does a Laser Loan Work?
Once you choose a company to lend you the money, you’ll need to fill out an application to apply for the last minute loan with bad credit. The lender then assesses your application and reviews your credit history to decide whether they should give you the money or decline your request.
You might be asked to provide a bank statement or another proof of income that will help the lender do the math and predict whether or not you’ll be able to repay the bad credit jet ski loans without being under substantial hardship.
If the company needs any further information, they’ll contact you straight away, and they’ll also get back to you with the available instalment plans according to your financial status.
What’s the Interest Rate on Laser Loans?
The interest rate varies from one company to the other, but it’s usually between 0.5% and 3% per month. Even within the same company, you’ll find different plans with different interest rates depending on the amount of money you’ll borrow, your income, and the period over which you repay the amount.
How Long Does It Take for a Laser Loan to Be Approved?
With online lenders, filling an application takes a couple of minutes, but the approval time can reach up to seven days. If your request gets accepted, you can take the money within a week from the date of acceptance. Get boat loan rates here at Perfect Payday.
However, it doesn’t usually take that long. Actually, some lenders will even transfer the money to your bank account as soon as your request gets approved.
Traditional banks or Credit Unions can offer you a jewelry secured loan within a shorter time that rarely exceed seven days from filling the application.
What Happens If I Can’t Keep up With My Laser Loan Instalments?
As expected, failing to repay the due amount leads to a penalty. That’s assuming you passed the grace period, which is the period after the due date during which you can still pay the amount that needs to be collected without getting any extra charges or being penalised.
The grace period differs from one company to the other; regardless, it’s always mentioned in the agreement you sign with the lender.
It’s worth mentioning that the penalty isn’t always a late payment fee. Unfortunately, things might escalate to losing your no-interest or low-interest rate.
Even worse, it might impact your credit profile and reduce your credit score. Consequently, it’ll be hard for you to get another laptop short term loan in the future, let alone the vicious circle you’ll get yourself into, trying to make up for an outstanding payment.
The good news is, things rarely go this far with these types of loans because the amount of money you borrow is relatively small compared to other dentist loans Australia that require providing an asset.
Are There Other Ways to Pay for My LASIK Surgery?
If you’re deemed ineligible for getting a camper trailer loan interest rates, there are a couple of alternatives that you can take advantage of to finance your surgery.
LASIK Surgeons Financing Services
Some LASIK surgeons offer patients various payment programs through a financing company so that you can have the surgery and pay for it over several months or even a year. The best thing about these programs is that they mostly come with no interest rates, so you won’t be paying any extra money.
Flexible Spending Accounts
These accounts allow the owner to deposit a certain portion of their monthly salaries until they reach the desired amount. This is better than creating a standard bank account because it’s interest-free and tax-free. However, only employers offered sponsored vision benefits can get flexible spending accounts.
Healthcare Credit Cards
Healthcare credit cards are used explicitly for financing surgeries. If you want to make the most out of these cards, plan your payments ahead of time and make sure to pay them as scheduled. This way, you’ll keep paying them without any interest rates. Apply for lifestyle loan with Perfect Payday today.
There are plenty of options for eye laser loan plans that you can choose from, depending on your financial status, credit score, and whether you currently have any other bicycle loans or not.
Suppose you’re not eligible for getting agriculture loans. In that case, you can still look out for yourself and have the surgery by creating a flexible spending account, getting a healthcare credit card, or even enrolling in a LASIK surgeon financing program.