Best dental financing loans of May 2024

Dental care procedures can be expensive, especially if you don’t have insurance. Crowns, for example, tend to cost anywhere from $500 up to $3,000, according to CareCredit.

So what should you do if the care you need costs more than you can or want to pay out of pocket? One potential solution is to turn to dental financing. Here’s a look at how it works and where you can find the best dental loans.

Compare dental loan rates of May 2024

Best dental financing

The best personal loans for dental financing offer better rates or longer terms than your dentist or credit card. Before applying for a personal loan for dental work, prequalify with several lenders to compare estimates for loan rates and terms. Prequalification won't hurt your credit, but it's not a guarantee you'll be offered a loan. Compare rates between lenders and against other types of dental loans, like your credit card and provider financing. Note that once you choose a lender and complete an application, your credit score may temporarily drop by a few points.

SoFi: Best overall

PenFed: Best credit union for personal loans

Upgrade: Best for fair credit

Discover: Best for no origination fees (and low rates)

Universal Credit: Best debt consolidation loans for bad credit

Best Egg: Best for high close rates if pre-approved

LendingClub: Best online experience

BHG Money: Best for large personal loans

OneMain Financial: Best bad credit personal loans

Methodology

We evaluated the best personal loan lenders for dental financing based on factors such as customer experience, minimum fixed rate, maximum loan amount, funding time, loan terms, fees, discounts, and whether cosigners are accepted. Our team of experts gathered information from each lender’s website, customer service department, directly from our partners, and via email support. Each data point was verified by a third party to make sure it was accurate and up to date.

How to compare dental loans

After reviewing the best dental loans on the market, you may be wondering how to know which one is best for you. Here are the main factors to consider:

• Loan amount: Lenders vary in the loan amounts they offer in general and the amounts they’ll offer you. Look for loans large enough to cover your dental expenses.
• Annual percentage rate (APR): The APR represents the percentage of the loan amount that you'll pay in interest and fees spread over each year until the loan is paid in full. A lower personal loan interest rate means less cost to you.
• Loan fees: Lenders may charge fees on top of the interest, such as an origination fee, which tends to range from 0% to 10% of the loan amount. These will increase your borrowing costs or reduce your loan amount, so look for low- or no-fee offers.
• Loan term: The right loan term for you will depend on your total loan amount and the monthly payment you can afford. If you need more time, look for a lender with longer terms.
• Monthly payment amount: The monthly payment amount a lender offers will depend on your loan’s amount, term, APR, and fees. Look for one that suits your budget.
• Overall loan cost: The overall loan cost is your monthly payment amount multiplied by the number of months in your term plus any other applicable fees. Look for the most affordable options.
• Funding time: Some lenders are faster than others. If time is of the essence, look for a lender with a fast funding time.
• Customer ratings: Check how past borrowers rate their experience with lenders to gain insight into their customer service quality.
• Discounts: Lenders may offer a percentage off your APR in certain situations, such as if you enroll in auto-pay or have another financial account with them. Look for additional savings opportunities.
• Cosigner option: If you’re having trouble qualifying on your own, you may be able to get approved with the help of a cosigner. Not all lenders allow cosigners, so you may need to shop around to find those that do.

After getting quotes from a few dental loan lenders, compare the offers side by side according to the above factors to find the one that offers you the best overall value.

How do dental loans work?

Personal loans can be a helpful solution when you need dental care but can’t or don’t want to pay for it out of pocket.

For example, if you have excruciating tooth pain and find out it's going to cost over a thousand dollars to get a root canal and crown, a dental loan may help you break up the bill into payments over the next year. It can also help you take preventative measures like getting fillings to prevent more serious and expensive procedures down the road.

Dental loans often come in the form of unsecured personal loans, which are lump-sum installment loans. Lenders base approval primarily on your credit and income. Upon approval, you receive the loan amount, often via direct deposit. From there, you can use the funds to pay for the dental care you need. As for the repayment process, the total loan amount (plus interest and possibly fees) gets split up into monthly payments over a set term.

Check out: Best personal loans

Other options: Types of dental financing

How else can you pay for dental care? Dental loans aren’t your only option. Here are a few alternatives to consider.

Dental insurance

Dental insurance exists to make dental care more affordable. To get coverage, you enroll in a policy and pay a premium each month. If you need to see the dentist, you pay any applicable deductibles or copays and the dentist bills your insurance for the rest. If any amount is left uncovered, you’ll be responsible for the difference. Dental insurance is offered through employee benefit plans, private insurers, Medicaid (for children), and the health insurance marketplace.

CareCredit

CareCredit is a health care credit card that finances out-of-pocket health and dental expenses from over 250,000 enrolled health care providers in the U.S. It stands out from other financing options because, upon approval, you can finance expenses of $200 or more over terms of up to 24 months with no interest. If you need more time, various reduced APR promotions are available for longer terms.

Dental savings plans

A dental savings plan is a type of membership plan offered by dental providers. You typically pay an annual fee to join the program and then get a discount on the majority of the provider’s dental services. Going this route, you don’t have to worry about claims, copays, or deductibles. You pay your annual fee, get a discounted price list of the office’s dental services, and then pay the reduced rate at the time of your visit.

0% APR credit card

Many credit card providers offer cards with promotional 0% APR introductory periods that can last up to 21 months. If you can get approved for one with a credit limit high enough to cover your dental expenses, you can use it to finance the care you need. As long as you pay off the balance before the promotional period ends, you won’t have to pay any interest. However, if you can’t pay the balance off in time, it’ll be subject to the normal APR on your credit card agreement.

In-house dental financing

Dentists may also offer in-house dental financing. In this case, the dentist becomes your lender and allows you to pay off your balance, plus interest, over time through installment payments. Availability, rates, and terms will vary from one provider to the next.

How to apply for a dental loan

If you want to apply for a personal loan to finance dental care, you can usually start the process online or over the phone.

1. Gather information: Lenders often ask for personal identifying information like your name, address, birth date, and Social Security number. They’ll also need to know about your income and employment.
2. Get prequalified: Most will perform a soft credit check (which won’t affect your score), review the information you provide, and let you know if you’re prequalified. Upon prequalification, lenders typically provide you with a loan quote that includes your loan amount, term, APR, and fee options. Prequalifying is not a guarantee of credit, however, and your final rate may be higher.
3. Shop around: It’s a good idea to shop around and get a few quotes to see which lender offers you the best deal.
4. Apply for the loan: Once you decide on a dental loan, you can accept the offer and move forward with the full application process. In this step, the lender will likely ask for proof of the information you provided previously, such as a pay stub to prove income. You’ll also have to undergo a hard credit check, which may temporarily ding your score.
5. Finalize the loan: If all goes well, you’ll receive final loan approval and you’ll need to sign your loan contract.

Learn more: How to get a personal loan

FAQ

What are the best dental financing options for individuals without insurance?

If you don't have insurance, you can likely find the best deals on dental financing through CareCredit, a 0% APR credit card, dentist in-house financing, or a personal loan. The right fit for you will depend on factors like your dentist, your credit score, and the rates and terms you can get.

Can I get a dental loan with bad credit?

If you have bad credit, you can try getting a dental loan through personal loan lenders that cater to the credit-challenged, like Upstart or Avant, both Credible partners. You may also have luck getting approved with CareCredit or in-house dental financing. If all else fails, consider enlisting the help of a cosigner that has good credit or asking a loved one for a loan.

How do I know if my dental insurance covers a specific procedure?

You can find the specific procedures covered under your dental insurance plan by reviewing your policy. It should be available online via your insurer’s portal. If you can’t find it, you can ask your insurer to send it to you via mail, email, or secure message. You can also directly ask your agent.

Read more:

• Where can I get a personal loan?
• How personal loans affect credit score
• Best personal loan rates
• Best emergency loans
• Best installment loans
• No-credit-check loans