DFW dental implant financing

Financing and Affording Dental Implants

There are several significant purchases we make during our lifetimes. Our homes and cars are excellent examples. If you’re considering an investment like how to pay for dental implants, you’re probably wondering, “How am I going to pay for them?” In reality, most people don’t leave large amounts of money laying around to make big purchases like buying a car or completing a smile makeover.

After you’ve found the best dental implant provider and finally gotten a treatment plan outlining the total cost of your smile makeover, you’ll know exactly how much the process will cost and can start figuring out how to make everything happen financially

How to Pay for Dental Implants: Is it Like Buying a Car?

Even though plenty of people compare getting dental implants to buying a car, the two are extremely different from one another. For one—even though buying a car is the second biggest expense most people have in their lifetimes—most of us usually only keep our cars for 5 or 6 years. There will be circumstances where people drive their cars into the ground, but at some point or another, they will need to be replaced. And our society has us conditioned to fall back into a 6 or 7-year financing plan and car payment just about every time our previous car is paid off. 

But dental implants last forever. The investment in a smile will be with you for the rest of your life. And when you think about it, you rely on your teeth far more than you ever do a car. The majority of us drive our cars about 15,000 miles a year, which averages out to about 250 hours a year or just under 5 hours a week. But teeth are something that we rely on 24 hours a day, 7 days a week, 365 days a year. We use them for chewing, speaking, and smiling. They impact everything from our health to our self-esteem. 

All of that being said, affording dental implants can still be a challenge for a lot of people. Thankfully there are proven ways to pay for your smile makeover and unique financing options available. When you know where to turn, you can enjoy the benefits of healthier teeth without having to wait years to save up and make over your smile. 

How Do I Afford to Pay for Dental Implants?

Once you’ve got a quote (treatment plan) for your individual dental implant needs, it’s time to determine the best way to pay for them. Most of us don’t have extra money just lying around collecting dust. Still, there are several practical options available that you can use to cover the cost of your dental implants, such as:

Pay for Dental Implants Up Front and Write it Off on Your Taxes

When you look at your annual tax return, locate your Adjusted Gross Income (AGI) and multiply it by 7.5%. For someone with an income of $40,000 a year, that amount is $3,000. This number is the amount you can write off on your tax return for any health-related expenses such as medical bills or in this case, dental implants.

Using Credit Cards to Pay for Dental Implants

Like earning airline miles? Us too! We’ve had patients pay for their dental implants and then fly to Hawaii afterward, using some of the airline miles that they earned. You just want to make sure that you know the numbers ahead of time since credit card interest rates can sometimes be extremely high. 

Financing Through Your Dentist, Bank, or 3rd Party

Some dental implant financing plans are available with 0% interest, as long as you’re able to pay them off within a 6-12 months or less. That works great for some people, but not everybody. Other financing plans can give you lower interest rates for up to 90 months, which allows you to have smaller payments over time.

Health Savings Account (HSA)

A Health Savings Account allows you to set aside pre-tax money every year toward health expenses and medical bills. 

Flex Spending Account (FSA)

Although not as great of an option as an HSA, Flex Spending Accounts (FSA) still allow you to use pre-tax dollars toward planned health expenses. The only downside is that you have to use it by the end of the year or it expires. 

401k Loan to Pay for Dental Implants

A great way to borrow money with the lowest interest possible is to take out a loan against your 401k. You don’t owe money to anyone other than to yourself and you can pay it back as you’re ready. Usually, there’s only a small fee that you pay to the administrator of the account to process your loan. 

Home Refinance or Equity Line of Credit

With rising home values in DFW, cash-out refinancing is an easy way to get a home equity loan or line of credit in a fairly short period of time. Using your home as collateral can get you a much lower interest rate on your loan and give you the upfront cash you need at the same time, whether it’s for dental implants or something else. 

Other Ideas to Pay for Dental Implants

We’ve seen dental implant patients come up with some fairly unique ways to pay for their new smile. Some of them borrow money from family members because they don’t have the credit scores they need to get a loan through their bank. Others have gone through their homes to find things that they can sell, whether online or by holding a garage sale. We’ve even seen someone sell a sword from the battle of the Alamo to a collector to cover the cost of their dental implants!

Implants Offer an Amazing Return on Investment

Your dental implants improve your quality of life, appearance, confidence, and diet. They’re designed to last a lifetime, making them a one-time investment that’s worth every penny. To learn more about the dental implant process in Dallas/Ft. Worth or to request an individualized treatment plan, reserve a no-obligation consultation at ARCHPOINT today.