Financing

[occitigsr 1]

Does anyone have experience with financing?

I'm at a toss up between OCC and team mx. So my next step is finding out how to pay for this.

Just wanted to see if anyone had any experience?

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[JamieLogical 8,727]

I don't know if this is an option for you, but the way I paid for my surgery was to borrow against my retirement account. I am allowed to borrow up to 45% of the value of my retirement account with no penalties/fees/taxes and the rate is very low, most of which just goes back to me as "return on investment".

[kyleegirl01 33]

The medical financing options have an extremely high interest rate. I financed thru my local credit union using a personal loan option and the interest rate was in the single digits - I think 8? I can't remember exactly now.

I went to Dr Jalil Illan and had the sleeve done on 5/19.

My payment is just under $140/mo.

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[Melissa Spring Dykstra 6]

Here is what I did.

My car was paid off so I used the equity in it to get a cash out refi on in through my credit union. I'm getting a loan for $5,500 (The surgery is only $4,400 with Dr. Jalil Illan, but I wanted a large cushion for airfare and extra hotel nights) for four years at 2.72% with a payment of about $121 a month. The rate would have been 2.47 if my husbands work did direct deposit, but they don't . Still, I'll only be paying about $300 in interest if I take the full four years to pay for it. And there are no fees at all with the loan. Gotta love credit unions!

I figure that I can break even with taking the payment out of my food budget because of how much less I'll be eating. I already spend more money on groceries buying whole clean foods (plus some Protein powders), so there won't be any change what I buy for groceries, just how much I buy.

So.................. If you are looking for a way to finance your surgery... Banks (at least north coast credit union) will cash out up to 100% of a cars value with a refi. So like if it is worth $8,000 and you owe $2000 you can get $6,000 cash out of your car. I guess people get cash out of their cars all the time. I never knew it was a thing until I asked my bank about it. We had used the bank to buy from a private party when we got my suv and because we were financing less than the retail value of the car we were able to get a little extra cash at the time to have money for new tires and to fix the window. That is where I got the idea. FYI, my bank used NADDA retail value for it's valuation.

[occitigsr 1]

Hmm I hadn't thought about the car idea. I'll have to look into that, I also was not aware of this.

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