Dental Implants with Low Monthly Payments
Dental implants are continuing to gain popularity as a reliable solution for replacing damaged or missing teeth. A few of the top benefits which are associated with implants include their long-term reliability, natural appearance and their ability to function similar to the natural teeth. In addition, they are specifically designed using special materials which make them durable, strong, and last for many years. In cases where a patient is missing a tooth or multiple teeth, or in the event the tooth is damaged and cannot be safely repaired, implant can be an exceptional solution for restoring the function and appearance of the teeth.
When patients are considering dental implants, a common question the have is what to expect in terms of the cost for the procedure. Similar to most types of dental and medical procedures, there are quite a few factors which may influence the overall cost. It can also depend on details related to the individual patient. On average, however, the cost for a single implant typically ranges from $1,500 to $3,000 or more. This includes all items associated with a traditional implant procedure such as the surgery for implant placement, all implant materials and components, and the implant crown or prosthetic tooth. There will be additional costs involved when special procedures are required in order to prepare the mouth or gums for the implant. For example, some patients lack sufficient bone below the gum line, which is required to support the implant. In this case, a bone graft may be needed.
Factors which Influence the Cost
Some of the most prevalent factors which can impact the cost of dental implants can range from the patient’s geographical location, the individual dentist chose to perform the procedure, any additional procedures which may be required, and the type of implant which is used for the procedure. Many dentists opt to use implant created by the Swedish manufacturer that originally developed implants. This implant in particular has over an impressive success rate which is over 90%. Dentists can also use implants made from titanium or zirconium. The implant manufacturer and type of material which is used can both impact the cost.
The number of dental implants used for the restoration is another important factor which directly impacts the overall cost of the procedure. Each additional implant increase the cost. Depending on the patient’s individual needs and budget, the dentist may recommend pursuing alternative options which are less costly. The need for any additional procedures will likely also result in a higher cost. For example, some patients require the extraction of a damaged tooth prior to the placement of the implant.
It is common for potential implant candidates to ask why dental implants are more expensive than the other tooth replacement options. One of the main reasons that implants are so expensive is because of the surgical aspect required for implants. In addition, it is critically important to choose a reputable dentist with the necessary training and experience. There are various types of specialists who typically provide implants which may include an oral surgeon, implantologist, or prosthodontist.
While dental implants are gaining popularity and becoming the top solution for the replacement of missing or damaged teeth, they are unfortunately not usually covered by dental insurance. In many cases, the patient is expected to cover the cost.
For patients who need dental implants, but are unable to afford the costly out-of-pocket expense, it may be beneficial to consider financing options. Many of these traditional financing options, however, expect the patient to have a high credit score for qualification. As a result, nearly half of all patients are not able to obtain the necessary financing. The following are three financing options which can usually be obtained by patients with a lower credit score.
Sub-Prime Lender Financing
A financing option which is often available for patients who do not qualify for traditional credit-based medical loans through a primary lender is sub-prime lender financing. While standard lenders often require that patients have at least a credit score of 640, subprime lenders look further into a patient’s history past their credit score alone. These consideration may include their income, employment history, assets, and other relevant factors which can aid in evaluating the risk associated with offering financing.
Some of the disadvantages associated with sub-prime lender financing can include higher interest rates and costly origination fees. These costs can cause additional financial strains. The terms of the loans and logistics, while set by a third-party lender, may also give the patient a negative impression of the dental office performing the procedure.
Another financing option for patients with a lower than ideal credit score is to apply for a personal loan. Personal loans can be secured or unsecured.
A secured loan typically requires that the patient provide some type of collateral such as a car or real estate. The collateral helps to improve the patient’s ability to receive approval and may increase the loan amount they are able to obtain. In the event the patient defaults or the loan becomes delinquent, the lender may be able to repossess the designated collateral.
An unsecured personal loan, however, does not require the patient to provide any form of collateral. In the event an unsecured loan becomes delinquent, it is sent to outside collection agencies to handle. Without the collateral and due to the additional risk the lender is taking on, this type of loan can be more difficult to qualify for. When patients do not qualify for a credit-based repayment plan, it may also be challenging to obtain approval for an unsecured personal loan.
Flexible Payment Plans
The last type of financing option comes from lenders who offer flexible, pay-over-time loans. This type of financing can work for many patients, including those who have a low credit score and do not qualify for a traditional financing option.
A flexible payment plan uses unique underwriting processes which are based on data that goes beyond the based credit report. They allow lenders to accurately assess the risk associated with the loan. This information is also used to create the terms of the loan, which may include an initial down payment. The patient’s history and information which is collected also dictates the available interest rates.
Pay-over-time loans allow additional patients to qualify for a loans used to cover the cost of dental implants.