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Im in need of a root canal insurance wont cover until july 1st. i found a dentist that offer a payment plan. the procedure is 800 the interest

26.99% (apr) I have no idea how to add the amount of the full amount. (The full amount after interest is added.) I will try to pay at least two hundred a month.

 
Anonymous

Asked by Anonymous at 1:16 PM on May. 19, 2011 in Money & Work

This question is closed.
Answers (8)
  • That's a really high interest rate. If you plan to pay it back in only 4 months (800 at 200 a month, I mean), you actually might be better off putting it on a credit card. The rate would probably be lower and if you have any perks or points on your card, you will at least get those.
    JulieJacobKyle

    Answer by JulieJacobKyle at 1:17 PM on May. 19, 2011

  • 25% of $800 would be $200, so it would be some more than that. Is that the total interest amount? It seems high. I wonder if you should check out bank loans?
    Bmat

    Answer by Bmat at 1:18 PM on May. 19, 2011

  • I would tell him that you don't want to finance, say that you will pay $200 and make payments of $200 per month to his office directly, if he does not want to, you should be able to find a dentist who will, that is highway robbery!
    kimigogo

    Answer by kimigogo at 1:31 PM on May. 19, 2011

  • I agree with all of the above. Credit card or loan would be better. That rate is high b/c it is probably the finance co. he uses. I would see if they will do a payment plan with you. Dentist's are tricky, they typically don't work with people like that.
    Good Luck!!! I hope you get relief soon!!! God Bless!!
    mkdirector2011

    Answer by mkdirector2011 at 3:52 PM on May. 19, 2011

  • That is an insane amount of interest - can you not borrow the money from another lender?
    tasches

    Answer by tasches at 4:35 PM on May. 19, 2011

  • You can apply at Care credit as they finance dental and medical procedures and they give you an answer right away. I have Monarch Dental and they have in house financing and charge no interest as long as the balance is paid off in 4-6 months. I have used Care Credit in the past and they are easy to get credit with as long as you have average to good credit.
    angelgirl62

    Answer by angelgirl62 at 9:23 PM on May. 19, 2011

  • That's a really high interest rate. If you plan to pay it back in only 4 months (800 at 200 a month, I mean), you actually might be better off putting it on a credit card. The rate would probably be lower and if you have any perks or points on your card, you will at least get those or find a second opinion
    Christmaslver68

    Answer by Christmaslver68 at 9:52 AM on May. 20, 2011

  • You can save a lot of money on dental and health here:
    www.mybenefitsplus.com/DAvia
    XOXOArmyWife

    Answer by XOXOArmyWife at 7:27 AM on Aug. 17, 2011