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    Top 6 Hearing Aid Loans Online

    Hearing Aid

    Good auditory health makes for a happy and successful life. Hearing aids are an essential form of treatment for patients who require them. 

    Given the cost of these devices, it's challenging to afford them. They’re even more difficult to afford if your insurance doesn’t cover them.

    Fortunately, there are several lenders you can approach for financing. Let’s take a look at the best hearing aid loans online. 

    What Do Hearing Aids Cost? 

    The cost of hearing aids in the US ranges between $1,500 and $4,000 per ear with an average price of just over $2,300.

    However, the total amount you’ll end up paying will likely be higher than this for two important reasons. 

    • Most people require two hearing aids. This essentially doubles the cost of obtaining these devices. In such cases, the minimum bill will be $3,000 and the maximum bill will be well over $8,000
    • You’ll need to replace them every few years. A typical hearing device provides two to three years of useful service before needing to be replaced

    Six Of The Best Hearing Aid Loans     

    High-quality hearing devices cost thousands of dollars. Therefore, they can be difficult to afford. Fortunately, there are several loan companies that offer financing which covers this type of expense.

    The following six lenders are excellent choices to consider if you’re planning to purchase new hearing aids in the near future. 

    LendingClub 

    This finance provider has lent over $50 billion in loans and has numerous lending products to choose from.

    • LendingClub caters to bad credit applicants. However, it’s still recommended to have a FICO score of 600 or more. This will boost your chances of approval and secure the best possible APR 
    • Further benefits of choosing this lender include fixed APRs over the term of your loan (which can extend as long as five years) and a convenient online application process

    FreedomPlus 

    This loan provider is known to approve applications for medical financing to help pay for items that health insurance typically doesn’t cover.

    Hearing devices, plastic surgery, and hair restoration are all acceptable uses for a FreedomPlus medical loan.

    • If your credit is reasonably good then you may qualify for a low APR. This lender’s annual rates start from 6.99%, making them extremely competitive in the personal loans market 
    • With a maximum loan amount of $40,000, you’ll have no trouble financing your hearing device purchase with one of their loans. It’s important to note that the amount you qualify for will depend on your income and other factors

    Upstart     

    This cutting edge lender is a favorite among bad credit borrowers thanks to its fair and forward-thinking application process and qualifying criteria.

    If you need new hearing aids but don’t have excellent credit, this may be the lender to consider.

    • When assessing loan applications, Upstart tends to look beyond your credit score and considers factors like your income, employment situation, and monthly expenses. This is good news if you have a low FICO score but a reliable monthly income 
    • The company also features competitive APRs and an easy application process that can result in quick funding

    CareCredit          

    If you’re searching for a flexible lender with a variety of loan options then you may want to keep this company in mind. 

    • CareCredit is known for its fair assessment of bad credit applicants and its innovative multi-tiered APRs
    • If you require a small loan (under $200) to pay for hearing aid batteries or fitting then you may be able to secure the funds from this lender at 0% APR for up to two years. If you require a larger loan amount, you’ll be charged an APR that corresponds with your FICO score, income, and other factors 

    Navy Federal     

    This lender caters exclusively to veterans and active members of the Armed Forces. If you’ve served in the past, are on active duty, or on National Guard duty then you may benefit from the lending criteria and interest rates offered by Navy Federal. 

    • The selection of loans and credit cards that this lender offers can be used to finance your hearing aids, especially given the maximum lending amount of $50,000
    • APRs are reasonable with a current range of 7.49%-18%. This makes Navy Federal an affordable option for members of the military and their families 

    Avant         

    Avant is available to borrowers with less than stellar credit and has an excellent reputation in the industry.

    You could pay for your next replacement hearing aids and their associated costs with a personal loan from this credit provider. 

    • Avant offers both personal loans and credit cards for applicants with FICO scores in the fair to poor range. However, since the card limits tend to be capped at $1,000, consider a loan if you’re planning to spend several thousand dollars on your new hearing devices
    • The range of APRs available from this lender is currently between 9.95% and 35.99%. This will affect your monthly payment. Moreover, it’ll depend to a large extent on your credit score and your personal financial situation

    Conclusion 

    Good hearing is an essential aspect of your health and wellbeing. If you need hearing aids, you must prioritize this expense and secure the funds as soon as possible.

    The lenders listed above could help you do just that. Before you make your final decision, compare each loan provider carefully and consider the APR, loan amount, and lending terms it offers.