Self-pay - need financing advice

tricia1105 · March 20, 2008

I will be having surgery on Apr 22 in Mexico. Does anyone have experience with getting a loan for surgery in Mexico? What kind of interest rates are being charged? Was it difficult to get the loan? What financing company did you go with?

Thank you!

jena · March 20, 2008

Do you have a 401k? If you do, and there is enough money in it, take out a loan from your 401k. The interest rate is pretty low, and the interest you pay is actually going back into your account, so essentially you are paying yourself the interest.

As for the medical loan companies, unless you have a really, really fantastic credit score they rip you off on the finance charges. Some as high as 29%!

Bozzj · March 20, 2008

i would NOT take a loan on the 401k. personally. I'm getting surgery on April 17th and i took a capital one medical loan. I put down 5k and taking 10k in the loan for 3 years at an interest rate of 5.99%. I'll try to pay it off before the 3 years though, if possible.