Cosmetic Surgery Loans

Get the full quote, not the surgeon's fee

The figure quoted at a consultation is often only part of what you will pay. A complete cosmetic surgery cost typically includes the surgeon's fee, the anaesthetist, hospital or day facility fees, pre operative tests, compression garments or dressings, prescriptions, and follow up appointments.

Ask for an itemised quote covering all of it before you arrange finance. Borrowing the surgeon's fee and then discovering the anaesthetist and facility are billed separately is one of the more common ways people end up short, and topping up a loan afterwards is harder and more expensive than getting the amount right at the outset.

Ask about revision policy as well. If a further procedure is needed, whether that is covered or billed again materially changes the total you should be planning for.

Cosmetic and reconstructive are treated differently

Medicare and private health insurance generally do not cover purely cosmetic procedures. Where a procedure is reconstructive or medically indicated, however, a Medicare item number may apply and private cover may contribute.

The line between the two is not always where people assume. Breast reduction, rhinoplasty following injury or breathing difficulty, and abdominal surgery after significant weight loss can attract item numbers in defined circumstances. Eyelid surgery is sometimes covered where vision is affected.

It is worth asking your surgeon directly whether any item number applies before assuming you must fund the whole amount. Where it does, the sum you need to borrow can fall substantially, and your health fund can confirm what it would contribute.

Clinic payment plans against a personal loan

Many clinics offer their own payment plans or refer patients to a specific finance provider. These are convenient, and convenience is what you pay for. The clinic is not comparing the market on your behalf, and it may receive a commission for the referral.

Compare any clinic plan against an independent personal loan on the comparison rate, which includes fees and is the only figure that puts two offers on the same footing. Then check the flexibility: whether you can repay early without penalty and what a missed payment costs.

Interest free periods deserve particular care. They are genuinely useful if you clear the balance within the period. If any amount remains when it ends, the rate that applies afterwards is often high and is charged on the full original amount in some structures. Read that clause specifically.

Borrow for the recovery, not just the procedure

Recovery time is the cost people forget. Depending on the procedure you may be unable to work for anywhere from a few days to several weeks, and for anyone self employed or on casual hours that is lost income rather than paid leave.

Factor it in when deciding how much to borrow. A loan that covers the surgery but leaves you unable to meet ordinary bills during recovery creates a second problem at the worst possible moment. It is better to borrow slightly more with a plan for the recovery period than to be caught short a fortnight after the procedure.

Also consider whether you will need help at home, childcare, or transport while you cannot drive, since these are real costs that arrive at the same time.

Choosing the term sensibly

Match the loan term to the value you are getting rather than to the smallest possible repayment. A longer term lowers the monthly figure and increases the total interest considerably, and there is little sense in still paying for a procedure years after the point at which it mattered to you.

Take the shortest term your budget genuinely supports. Where the loan permits extra repayments without penalty, that becomes your flexibility. Our calculator will show what different terms cost in total, and the difference is usually larger than expected.

Checks worth making before you commit

• Confirm the practitioner's registration and qualifications through the national register
• Ask how many times they have performed the specific procedure
• Get the itemised quote in writing, covering every component
• Understand the cooling off arrangements and the deposit refund policy
• Ask what happens, and what it costs, if a revision is required
• Check whether any Medicare item number applies

Deposit refund terms matter more than people expect. If circumstances change between booking and surgery, whether the deposit is refundable can be a significant amount, and it is far easier to establish before paying than after.

Applying

Everything is handled by phone and email, and the application is assessed on your income and existing commitments in the same way as any other personal loan. Have identification, recent payslips and ninety days of bank statements ready as a PDF.

A broker will compare across more than thirty lenders and tell you honestly if the amount is not comfortably serviceable, rather than writing a loan that becomes a problem during recovery. If the procedure is medical rather than cosmetic, our medical loans page may suit better.

Call 1800 079 147 to talk it through. Enquiries leave no mark on your credit file.