Financing Dental Treatment

girlinabox

Hi everyone,
I'm unsure if this is the correct place to post as my question is not just about credit cards, it's more a question/asking for advice over the best way to finance some dental treatment I am planning on undergoing.
I am hoping to get Invisalign treatment with a local orthodontist; after a bit of shopping around I have chosen this one due to their experience, and they are not the cheapest. The cost of treatment will be around £4500 in total.  They are offering a few different options with the treatment, and I am trying to work out the best way to go about this, taking into account a number of factors:
1. I have a previous poor credit history, from many many years back when I was young and stupid and got myself into debt and opted to go bankrupt.  Since then I have had a completely clean history, and in fact due to me not having any credit I actually had to apply for a credit card to try and gain some 'good' credit again. 
2. My current credit card is 0% on purchases until Dec 2021 (I thought my paperwork said Nov 2022 but the lady on the phone this week said Dec 21..) and my current credit limit is £3900 - they won't increase this, I have tried. Even so, I was very pleasantly surprised when Barclaycard gave me this card. I have been spending on it to build up good history and paying off big chunks every month. We are planning on clearing it off completely this month. 
3. The finance deals the orthodontist is offering include a 5% discount for paying up front, or alternatively paying a negotiable deposit and monthly repayment between 12-18 months at 0% APR. I currently have some savings so would fund a deposit from this.  I have approx £6000, this is savings earmarked for travelling next year (Covid dependant of course).

I have never really been very good with money, I suppose because I never really had any.  But this last year I have found myself in a good position and able to save for the first time ever.  As such, I don't really want to throw all of my savings at this treatment up front - and part of me wonders if at times such as the ones we find ourselves in now, whether having a little cashflow, just in case, is a good thing....I also thought about what would happen if I paid for it all out of my savings and the practice went bust.  I would be devastated if I lost that money.

I was thinking whether putting the treatment on my credit card (and making a separate payment from my bank account to cover the remainder) and then hoping to get another 0% card on balance transfers next year would be a good option?  This way I wouldn't be tied in with a dental finance company and having to make payments of X per month - I could make smaller payments during months when I may be travelling/out of work. But that's a risk in case companies don't continue to offer 0% deals on balance transfers.
Another thing I wondered was whether I was able to get another credit card before the end of the 0% on this one, and pay the instalments on that, but I then pay the credit card balance off at a lower amount over a longer term?
I hope some of this makes sense!  I have just never been in this position before - it's a first - and I really don't know what the best way to proceed is.  What would you do if you were in my position? It's all eventually coming from the same pot, I know, I guess I'm just trying to think of the best way to keep some of my savings, not pay any interest, and not be tied in to making huge repayments at a time when I may not have any income (in which case I'd obviously have to eat into my savings).

Thanks for any advice or input, it's appreciated.  I am getting there with my finances, I just want to ensure that I can continue keeping it all clean and easy

adamp87

Can you not use your current 0% purchase card pay it all.

Get 5% off so £225 takes it to £4275.

Pay £375 in cash out of savings bang the rest on the card.

As you are currently working use that time till you potentially travel to pay off the remaining £3900 as much as possible till you leave.

In that time also look at a 0% transfer card. The issue you have here is you know you are going to quit your job and go travelling - most cards ask if you expect an income drop..

The good thing is really you have the cash to pay it all right now. I’d maybe wager if you want to get the treatment or travel in the current climate that’s so insane with Covid it might be better to not put money to travelling yet.

just my thoughts

eddddy

I guess everyone has their own views and priorities...

But if I had £6,000 in savings, I would not feel that I was in a financial position to spend either £4,500 on invisalign or up to £6,000 on travelling. I would regard both of them as optional expenditure which I could not afford, and I wouldn't borrow money on credit cards (even at 0% interest) to fund that level of optional expenditure.

I would only spend money on those types of things once I had sufficient savings to pay for them, with a savings buffer on top.

(Unless perhaps the invisalign is to address health / self-esteem problems, rather than for cosmetic reasons.) 

But I know that not everyone shares my views - and that the credit card industry makes most of its money from people who don't share my views. 

Yahoo_Mail

eddddy said:

I guess everyone has their own views and priorities...

But if I had £6,000 in savings, I would not feel that I was in a financial position to spend either £4,500 on invisalign or up to £6,000 on travelling. I would regard both of them as optional expenditure which I could not afford, and I wouldn't borrow money on credit cards (even at 0% interest) to fund that level of optional expenditure.

I would only spend money on those types of things once I had sufficient savings to pay for them, with a savings buffer on top.

(Unless perhaps the invisalign is to address health / self-esteem problems, rather than for cosmetic reasons.) 

But I know that not everyone shares my views - and that the credit card industry makes most of its money from people who don't share my views. 

It's also a long-term thing.  Aside from the obviously ridiculous adverts on social media where people with brown and decayed teeth suddenly have perfect BL1 teeth just from using Invisalign, there is an ongoing cost. Unless you keep buying their ridiculously overpriced retainers, you'll probably end up with your teeth going back to the way they were.

Speak to a proper cosmetic dentist before you deal with this clown-like treatment.

Malkytheheed

In a blunt, short answer...

You cannot afford this treatment. You are not in a finnancial position to justify the purchase. 
Putting it on a CC or loan will only get you in big trouble. I suggest you either save up till you have a lot more money, focus on earning a lot more money, or drop this idea. 

Harsh realities I am afraid. 

girlinabox

adamp87 said:

Can you not use your current 0% purchase card pay it all.

Get 5% off so £225 takes it to £4275.

Pay £375 in cash out of savings bang the rest on the card.

As you are currently working use that time till you potentially travel to pay off the remaining £3900 as much as possible till you leave.

In that time also look at a 0% transfer card. The issue you have here is you know you are going to quit your job and go travelling - most cards ask if you expect an income drop..

The good thing is really you have the cash to pay it all right now. I’d maybe wager if you want to get the treatment or travel in the current climate that’s so insane with Covid it might be better to not put money to travelling yet.

just my thoughts

Hi there, thanks for your reply
Yes, I think that's a good suggestion.  I am hoping to carry on saving hard over the next few months, so I guess if it turns out I can't get another card to switch it onto, I could just pay it off. 
I think I was just trying to figure out if I'd missed anything glaringly obvious haha. 
The travelling thing may not happen - things have changed since Covid, so I think it's wise not to focus on that too much.  We both have secure jobs, to quit those in the current climate would be daft, so we may end up staying put for another year (which definitely would give me time to pay off the treatment)..

Thanks again!

girlinabox

eddddy said:

I guess everyone has their own views and priorities...

But if I had £6,000 in savings, I would not feel that I was in a financial position to spend either £4,500 on invisalign or up to £6,000 on travelling. I would regard both of them as optional expenditure which I could not afford, and I wouldn't borrow money on credit cards (even at 0% interest) to fund that level of optional expenditure.

I would only spend money on those types of things once I had sufficient savings to pay for them, with a savings buffer on top.

(Unless perhaps the invisalign is to address health / self-esteem problems, rather than for cosmetic reasons.) 

But I know that not everyone shares my views - and that the credit card industry makes most of its money from people who don't share my views. 

Hi, thanks for your reply.
The Invisalign isn't really for cosmetic reasons - I have long standing issues with my bite which can only be corrected with movement of the teeth. I have ongoing aches, pains, not to mention worn down teeth from where the teeth are not aligned correctly.  It's also partly self confidence. I have been wanting this for years.
So my priorities are my health. We don't have a mortgage, we both earn well and have secure jobs. Obviously the thinking about going travelling is something to think about.  What I didn't say was that we're building a campervan, so if it all goes horribly wrong at least we'd have somewhere to live

girlinabox

Yahoo_Mail said:

eddddy said:

I guess everyone has their own views and priorities...

But if I had £6,000 in savings, I would not feel that I was in a financial position to spend either £4,500 on invisalign or up to £6,000 on travelling. I would regard both of them as optional expenditure which I could not afford, and I wouldn't borrow money on credit cards (even at 0% interest) to fund that level of optional expenditure.

I would only spend money on those types of things once I had sufficient savings to pay for them, with a savings buffer on top.

(Unless perhaps the invisalign is to address health / self-esteem problems, rather than for cosmetic reasons.) 

But I know that not everyone shares my views - and that the credit card industry makes most of its money from people who don't share my views. 

It's also a long-term thing.  Aside from the obviously ridiculous adverts on social media where people with brown and decayed teeth suddenly have perfect BL1 teeth just from using Invisalign, there is an ongoing cost. Unless you keep buying their ridiculously overpriced retainers, you'll probably end up with your teeth going back to the way they were.

Speak to a proper cosmetic dentist before you deal with this clown-like treatment.

Thanks for your opinions...
Anybody who thinks Invisalign will fix teeth so rotten that they're about to fall out of your head isn't very smart. My teeth are perfectly healthy, I just have a bite issue and some crowding that only movement of the teeth will fix.  You clearly don't know much about Invisalign if you deem it to be clown-like treatment.  A lot of orthodontists only do Invisalign now, opposed to fixed metal braces, due to the results that they can get with this treatment system.  You pay for the treatment, and are given the option to have a fixed retainer at the end, in addition to the retainers for wearing at night - to stop your teeth from moving back - just as you would be given if you opted for fixed braces. 
Thanks for your tuppence worth though.

girlinabox

Malkytheheed said:

In a blunt, short answer...

You cannot afford this treatment. You are not in a finnancial position to justify the purchase. 
Putting it on a CC or loan will only get you in big trouble. I suggest you either save up till you have a lot more money, focus on earning a lot more money, or drop this idea. 

Harsh realities I am afraid. 

Harsh realities, or just your opinion? I can afford this treatment. I have virtually no outgoings or overheads and a steady wage, plus savings.  How would I get into big trouble? Surely by not paying my bills. Which I have no intention of ever doing. 
Jesus, here I was hoping this forum would be full of people offering helpful or useful advice, not lectures on me apparently being vain or poor.

adamp87

I don’t understand why people are saying you can’t afford it. OP has £6000 in savings. Clearly can pay for it outright if needed.