5 Best Dental Loans: Compare Financing Options for Dental Costs
Find lenders that offer dental loans, and compare other options to help pay for dental work.
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Dental loans are unsecured personal loans that you can use to pay for expensive dental procedures. They can fund dental emergencies, planned cosmetic work or other procedures.
If you’re considering a procedure that your insurance won’t fully cover, a dental loan is a flexible but sometimes pricey option, depending on the interest rate. Explore alternatives before taking out a personal loan to cover dental work, especially if you have a low credit score or a lot of existing debt.
Here are some lenders that offer dental loans, as well as other ways to fund your next dentist visit.
Dental loans are unsecured personal loans that you can use to pay for expensive dental procedures. They can fund dental emergencies, planned cosmetic work or other procedures.
If you’re considering a procedure that your insurance won’t fully cover, a dental loan is a flexible but sometimes pricey option, depending on the interest rate. Explore alternatives before taking out a personal loan to cover dental work, especially if you have a low credit score or a lot of existing debt.
Here are some lenders that offer dental loans, as well as other ways to fund your next dentist visit.
Best Dental Loans: Compare Financing Options for Dental Costs From Our Partners
Lender | NerdWallet Rating | Est. APR | Loan amount | Min. credit score | Learn More |
---|---|---|---|---|---|
LendingClub Get rate on LendingClub's website | Best for Dental loans | 6.34- | $1,000- | 600 | Get rate on LendingClub's website |
Upgrade Get rate on Upgrade's website | Best for Dental loans | 5.44- | $1,000- | 560 | Get rate on Upgrade's website |
Upstart Get rate on Upstart's website | Best for Dental loans | 5.40- | $1,000- | None | Get rate on Upstart's website |
LightStream Get rate on LightStream's website | Best for Dental loans | 4.99- | $5,000- | 660 | Get rate on LightStream's website |
OneMain Financial Get rate on OneMain Financial's website | Best for Dental loans | 18.00- | $1,500- | None | Get rate on OneMain Financial's website |
Our picks for
Dental loans
How to compare personal loans for dental work
Annual percentage rate. A loan’s APR can be higher than its interest rate because it encompasses the entire cost of a loan, including the interest rate and any fees. APRs on personal loans generally range from 6% to 36%. Compare rates from different lenders to find the least expensive loan.
Fees. Find out any additional fees the lender charges before taking out a loan. For example, some lenders charge late-payment fees or origination fees. An origination fee is typically 1% to 10% of the loan amount and is reflected in a loan’s APR.
Borrower requirements. Some lenders have a minimum income or credit score requirement. Or there may be a limit to the amount of debt you can have, expressed as a debt-to-income ratio.
Time to fund. While some lenders offer same-day funding, others can take up to seven days to fund. You can speed up the application process by gathering all the required documents before applying and by promptly responding to lender questions.
Repayment term. A longer loan term can lead to smaller monthly payments, but it can also result in more interest over the life of the loan.
For example, a $2,500 loan with a five-year term and 8% APR will require a $50 monthly payment and cost $541 in total interest. The same loan with a seven-year term would put the monthly payment at $39, but cost $773 in interest.
A personal loan calculator can help you decide what repayment term fits best with your budget.
» MORE: Is a medical loan right for you?
Dental loans for bad credit
If you have fair or bad credit (a FICO score of 689 or below), you can still get a loan for dental work; however, you’ll likely get a rate that’s on the high end of a lender’s APR range. If you have bad credit and decide to pursue a dental loan, consider a secured or co-signed loan to potentially receive a lower rate.
Avoid loans with APRs above 36%, which is the maximum rate deemed affordable by financial experts and consumer advocates. A three-year, $3,000 loan with a 36% APR costs almost $2,000 in interest.
Pre-qualify for a dental loan
Pre-qualifying for a loan lets you see a loan’s terms, interest rate and monthly payments before you commit to the loan. You can pre-qualify with NerdWallet to see your potential loan offers and decide whether it’s the best way to pay for dental work.
Alternative dental financing options
Personal loans are low on the list of inexpensive ways to finance dental work, says Eric Simonson, a Minneapolis-based financial planner and owner of Abundo Wealth. He recommends weighing other options before going with a personal loan.
Here are some other ways to fund dental work:
Finance through your dentist. Some dentists offer an in-house payment plan that you can sign up for when faced with a big bill. Unlike regular dental insurance, you can take advantage of these plans when you learn you need expensive work done, Simonson says. They can be a good option if you don’t have insurance or would rather make monthly payments toward the procedure.
Negotiate. The price for a dental procedure isn’t always final. If you feel the rate quoted is too high, see what the prices are in your area using a site like fairhealthconsumer.org. Depending on the dentist, you may be able to negotiate for a lower price.
» LEARN: How to negotiate medical costs
Visit a dental school. Dental schools offer procedures at reduced prices so students can get experience under the supervision of skilled dentists. You can check the American Dental Association’s list of dental programs to see whether there’s a school near you.
A medical credit card. Some offices offer financing through a medical credit card, like CareCredit. The standard APR for CareCredit financing is 26.99%, but some dental providers may offer 0% interest on purchases of $200 or more if you pay the full balance by the end of the term. CareCredit offers terms of six, 12, 18 and 24 months. Be sure to ask your dental care provider if 0% financing is available as some locations may not participate in the promotion.
0% credit card. If you have good or excellent credit (a FICO score of 690 or above), you might qualify for a 0% APR credit card. These cards have an introductory period — usually 12 to 18 months — when you won’t accrue interest on purchases. If you can pay off your balance within the specified time, you’ll pay for the procedure interest-free.
Dental savings plan. A dental savings plan could be an affordable option to cover dental costs, as they allow you to pay an annual fee to receive discounts from dentists in the plan’s network. You can get a dental savings plan through some insurance companies.
Last updated on June 14, 2021
Methodology
NerdWallet’s review process evaluates and rates personal loan products from more than 35 financial institutions. We collect over 45 data points from each lender, interview company representatives and compare the lender with others that seek the same customer or offer a similar personal loan product. NerdWallet writers and editors conduct a full fact check and update annually, but also make updates throughout the year as necessary.
Our star ratings award points to lenders that offer consumer-friendly features, including: soft credit checks to pre-qualify, competitive interest rates and no fees, transparency of rates and terms, flexible payment options, fast funding times, accessible customer service, reporting of payments to credit bureaus and financial education. We also consider regulatory actions filed by agencies like the Consumer Financial Protection Bureau. We weigh these factors based on our assessment of which are the most important to consumers and how meaningfully they impact consumers’ experiences.
This methodology applies only to lenders that cap interest rates at 36%, the maximum rate most financial experts and consumer advocates agree is the acceptable limit for a loan to be affordable. NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for personal loans and our editorial guidelines.
To recap our selections...
NerdWallet's Best Dental Loans: Compare Financing Options for Dental Costs
- LendingClub: Best for Dental loans
- Upgrade: Best for Dental loans
- Upstart: Best for Dental loans
- LightStream: Best for Dental loans
- OneMain Financial : Best for Dental loans
Frequently asked questions
Each lender has a minimum credit score requirement. Typically, good- or excellent-credit borrowers receive the best rates on personal loans. If you have fair or bad credit, look for lenders that cater to borrowers with low credit scores.
Both options can be an expensive financing option, but it helps to consider which one offers the lowest APR and has monthly payments that fit in your budget.