It is often a costly task for the dentist to repair or replace teeth. These costs can take several hundred or even thousands of USD. Many think that these costs are covered by the health insurance. Unfortunately, this is not the case, because the statutory health insurance companies save more and more money and cut benefits. The patient falls by the wayside and unfortunately sits at the expense. In order not to despair completely, banks offer a loan to a dentist.
How can I apply for a loan?
There are two ways to apply for a dentist loan. The first option for the patient is to apply for a loan from the house bank. The dentist should fill in a cost estimate in advance. This enables the bank to see at first glance the scope of the loan and can then make better decisions about it. The creditworthiness must of course be given.
Those who can show no or only a small salary are often excluded from the loan. For borrowers with a normal salary, however, there should be no problems with applying for a loan. A second way would be to ask the dentist for a loan. He either accepts an installment payment or offers to get a loan from his bank.
Dentists often work with banks that have prepared for a dentist loan. All formalities are checked here as at the house bank. The loan amount is not paid to the borrower, but the dentist receives the money directly from the bank.
Which alternative is the best?
In order to be able to decide which of the two alternatives is the best, the loans should be compared. The APR should be compared on both loans as it reveals the total cost of the loan. Only then should the applicant choose a loan. Sometimes it helps to get a quote from another dentist.
For him, the treatment may cost a few hundred USD less, so that in the end the loan amount is lower. Thus, the patient can save money and can save even more with his own equity, which he may have.