From Botox to a perkier pout: How to pay for cosmetic surgery
Cosmetic surgery is a major decision that can totally change your life, but it comes with another life altering choice: how do you pay?
From personal loans to credit cards, there are plenty of options that make it possible to support your choice to undergo cosmetic procedures. You may also be able to bring down the costs, depending on the type of procedure you’re looking at.
What does cosmetic surgery cost?
With Aussies spending roughly $1 billion on cosmetic surgeries and treatments each year, the industry is on the rise. Depending on what you’re looking for, these can run from $200 for a Botox session to upwards of $30,000 for more elaborate procedures.
In fact, we’ve looked into some nip tuck figures and here are some approximate averages based of Sydney surgeons, per Costhetics:
- Tummy tuck: $9,000 to $18,000
- Rhinoplasty (nose job): $8,000 to $20,000
- Breast lift or augmentation: $6,000 to $15,000, depending on whether you get implants and the chosen material
- Breast reduction: Roughly $9,000
- Facelift: $6,500 to $30,000, ranging from small scars to an extensive deep plane facelift
- Eyelid surgery: $2,500 to $4,500 for either upper or lower and $4,500 to $8,000 for a combination surgery
While you might have the money on hand to pay for minor surgery, a $30,000 spend is a lot of money for anyone to drop all at once. During a consultation, your doctor will go through pricing and alternatives with you to explain exactly how these costs break down.
If you are considering any kind of cosmetic procedure or surgery, it’s important to look into whether any of the costs can be covered. Your private health insurance may reimburse you for some of the costs of inpatient hospital stays, as well as for plastic surgeries that are deemed medically necessary. Similarly, you may be able to get a small Medicare rebate for medically essential procedures like breast reductions and corrective rhinoplasty to improve breathing.
What are my payment options for cosmetic surgery?
You’ve thought long and hard about committing to cosmetic surgery and started making plans for the new, confidence-fuelled you - then there’s the less exciting side of things. Your main options for payment are:
- Medical loans - One of the most common ways to pay for surgery is with a medical loan. Many lenders offer specific cosmetic surgery loans and your consultation may point you in the direction of specific providers. These operate in the same way as other personal loans do, but are often from specialist lenders who are more familiar with the ins and outs of medical financing.
- Credit card - Depending on your credit limit and the cost of your procedure, you may be able to pay for cosmetic surgery on your credit card. It’s important to remember that you will be paying interest on anything you do not repay in the scheduled period, so it might be worth comparing low rate cards to the rates on medical loans.
- Savings - If you have the savings to spare, this is a way to pay for a procedure without incurring interest. This keeps the cost at the price you agree on initially. That said, paying off a credit card or personal loan can be a great way to build up your credit score.
If your surgery is classed as life saving or medically necessary and you have no other means to pay for it, you may also be able to access an early release of your superannuation funds on compassionate grounds. The process for this is outlined by the Australian Taxation Office. As this money is intended for your retirement, it’s generally a last resort option.
Are there any other costs to keep in mind with plastic surgery?
Like with any surgery, there can be other costs to think about along with the upfront surgeon’s fees.
Your surgeon will most likely try to include the majority of associated costs in their estimate, but medical procedures are unpredictable and can often exceed expectations.
Things to bear in mind include a bill from the anaesthesiologist, who can charge roughly $600 an hour, and the pricing of different implants. If there are any unexpected additional check-ups or extra dressings needed, you might incur extra costs.
There are also costs outside of the surgeon’s office. If you find yourself with a brand new bra size, for instance, that’s going to mean a fun new chance to spend up on lingerie. Likewise, a tummy tuck or liposuction might see you with a need for a whole new wardrobe.
The little costs of upkeep and enjoyment are always the ones that catch us out - so it’s more important than ever to create a budget and stick to it!
If you’re interested in a cosmetic surgery loan, take a look at some of Mozo’s best personal loans.
Compare cosmetic surgery loans - last updated 28 March 2024
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Mozo experts choice awards won:
- Excellent Credit Unsecured Personal Loan - 2024
Unsecured Personal Loan
Fixed
interest rate
comparison rate
Monthly repayment6.75% p.a.to 26.95% p.a.6.75% p.a.to 26.95% p.a.based on $30,000
over 5 yearsBorrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'
Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.
CompareCompare- interest rate
- 6.75% p.a.to 26.95% p.a.
- comparison rate
- 6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
- interest rate
- 6.75% p.a.to 26.95% p.a.
- comparison rate
- 6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
- Upfront fee
- $0.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly
- Early repayment penalty
- 0
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $50,000.00
- Minimum loan term
- 2 Years
- Maximum loan term
- 7 Years
- Security required
- Unsecured
- Other benefits
- Eligible customers who apply and settle by 1 March 2024 can receive a gift card of up to $200 depending on the amount borrowed. Choice of gift card from Bunnings, Red Balloon, Supercheap Auto and Webjet.
- Other restrictions
- Rates based on borrower with excellent credit score. Maximum 3 year term for loan amounts $8,000 or less.
Read our Mozo Review to learn more about the NOW Finance Unsecured Personal Loan
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Unsecured Personal Loan
Fixed
interest rate
comparison rate
Monthly repayment5.76% p.a.to 24.03% p.a.6.55% p.a.to 24.98% p.a.based on $30,000
over 5 yearsFast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.
CompareCompare- interest rate
- 5.76% p.a.to 24.03% p.a.
- comparison rate
- 6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
- interest rate
- 5.76% p.a.to 24.03% p.a.
- comparison rate
- 6.55% p.a.to 24.98% p.a.based on $30,000
over 5 years
- Upfront fee
- $575.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $2,000.00
- Maximum loan amount
- $70,000.00
- Minimum loan term
- 3 Years
- Maximum loan term
- 7 Years
- Security required
- Unsecured
- Other benefits
- Establishment fee is $275 for loans under $5,000.
- Other restrictions
- Establishment fee is added to the loan amount and interest is charged on the total amount.
Read our Mozo Review to learn more about the Harmoney Unsecured Personal Loan
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Express Personal Loan
Secured
interest rate
comparison rate
Monthly repayment14.95% p.a.to 27.95% p.a.29.30% p.a.to 42.8% p.a.based on $10,000
over 3 yearsAccess fast finance on loans from $5,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 24-48 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.
Repayment terms from 2 years to 4 years. Representative example: a 3 year $10,000 loan at 14.95% would cost $14,324.71 including fees.
CompareCompare- interest rate
- 14.95% p.a.to 27.95% p.a.
- comparison rate
- 29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
- interest rate
- 14.95% p.a.to 27.95% p.a.
- comparison rate
- 29.30% p.a.to 42.8% p.a.based on $10,000
over 3 years
- Upfront fee
- $990.00
- Monthly fee
- $24.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- 0
- Minimum loan amount
- $5,000.00
- Maximum loan amount
- $25,000.00
- Minimum loan term
- 2 Years
- Maximum loan term
- 4 Years
- Security required
- Various, Vehicle
- Other benefits
- -
- Other restrictions
- Application fee from $475 to $990. Additional Risk Fee of $0 to $995 applies.
Read our Mozo Review to learn more about the Jacaranda Finance Express Personal Loan
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Featured Product
Mozo experts choice awards won:
- Excellent Credit Unsecured Personal Loan - 2024
Low Rate Personal Loan
Excellent Credit
interest rate
comparison rate
Monthly repayment6.57% p.a.to 8.48% p.a.7.19% p.a.to 8.84% p.a.based on $30,000
over 5 yearsCompetitive low rates for borrowers with excellent credit on 1-7 year loans from $2,001 up to $75,000, plus free extra repayments. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.
Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.
CompareCompare- interest rate
- 6.57% p.a.to 8.48% p.a.
- comparison rate
- 7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
- interest rate
- 6.57% p.a.to 8.48% p.a.
- comparison rate
- 7.19% p.a.to 8.84% p.a.based on $30,000
over 5 years
- Upfront fee
- $250.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- $0.00
- Minimum loan amount
- $2,001.00
- Maximum loan amount
- $75,000.00
- Minimum loan term
- 1 Year
- Maximum loan term
- 7 Years
- Security required
- Unsecured
- Other benefits
- -
- Other restrictions
- Rate for Excellent Credit. Establishment fee varies from $250 and is based on your OurMoneyMarket loan grade and total loan amount. The fee is added to the principal amount and paid over the loan term.
Read our Mozo Review to learn more about the OurMoneyMarket Low Rate Personal Loan
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Debt Consolidation Loan
interest rate
comparison rate
Monthly repayment5.76% p.a.to 24.03% p.a.6.57% p.a.to 24.99% p.a.based on $30,000
over 5 yearsRoll multiple debts into one loan to streamline your finances with one set of repayments and one interest rate. Competitive fixed interest rates with no monthly or early repayment fees and flexible repayment options. Easy online application and funding in as little as 24 hours (subject to approval).
Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.
CompareCompare- interest rate
- 5.76% p.a.to 24.03% p.a.
- comparison rate
- 6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
- interest rate
- 5.76% p.a.to 24.03% p.a.
- comparison rate
- 6.57% p.a.to 24.99% p.a.based on $30,000
over 5 years
- Upfront fee
- $575.00
- Monthly fee
- $0.00
- Exit fee
- $0.00
- Repayment options
- Weekly, Fortnightly, Monthly
- Early repayment penalty
- 0
- Minimum loan amount
- $2,000.00
- Maximum loan amount
- $70,000.00
- Minimum loan term
- 3 Years
- Maximum loan term
- 7 Years
- Security required
- Unsecured
- Other benefits
- Establishment fee is $275 for loans under $5,000.
- Other restrictions
- -
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