How do you afford a HT?

[Bleachcola12]

So, I am sure some of you guys have money, but for young guys like myself, that causes problems..... How do you afford a ht? If it is by a loan, how much each month and how long is it for?

[Bleachcola12]

So, I am sure some of you guys have money, but for young guys like myself, that causes problems..... How do you afford a ht? If it is by a loan, how much each month and how long is it for?

[Dewayne]

When I was 24 and had my first ht, I financed nearly the whole thing through whatever finance company the clinic associated with. My payment was about $160 per month on $3,500 or so.

 

Ideally, you will save money monthly if you're young and pay for it outright. For example, $200 per month invested in a rather conservative mutual fund getting, say 7%, should provide about $8k in three years.

 

If you're needing one now, be sure to look at your priorities. At 24, I thought I needed to drive a new car that cost me $300 per month (1991 dollars), so I was stupid. I should have kept on driving my $1,500 Dodge Colt and saved, saved, saved!

 

Another option, in todays credit environment you could probably get a decent rate of <10%, which is better than what I got back then. Just give up some other things. This is a hell of a lot more important than driving a new truck, or getting a 4-wheeler ATV, etc...

 

Also, it seems I read where the doc in Vegas does in-house financing. Maybe you could get a little extra and kill 'em at blackjack while you're out there recovering!

[Dewayne]

Here you go:

 

http://needhair.bannerview.com/financing/

 

Just make sure you do without some of the other trappings that can get young people in trouble, ie new car, etc. Can you live with your folks for a year? Get a second job? This guy looks to be first class, and 12 months no interest isn't bad.

[Bill - Seemiller]

Bleach,

 

Hair transplantation is expensive, no doubt about it.

 

Keep in mind, that financing is an option, but even then, you should be able to have the means to pay the monthly fees.

 

Monthly fees will depend ultimately on the cost of the hair transplant, the length of the loan, and the interest rate per year.

 

Keep in mind too, that if one hair transplant won't meet your goals, you are going to want to develop not only a long term hair restoration plan, but a long term financial plan to cover all that you will need done.

 

I think being prepared financially is important as you plan for hair transplant surgery/surgeries.

 

Bill

[TheEmperor]

Originally posted by Bleachcola12:

So, I am sure some of you guys have money, but for young guys like myself, that causes problems..... How do you afford a ht? If it is by a loan, how much each month and how long is it for?

 

You need to look at the big picture. With the exception of hairloss, men get better with age. Much of that comes with improved career, stabilty, money.

 

In terms of "market fair value" women cannot say the same, they are a depreciating commodity. A fresh faced 21 year old will often look tired and haggard by the time she is 30. She'll be able to cover it with makeup, but make no mistake.

 

The root of hair insecurity is the women. Will you be able to connect? Score a hot babe? (or even an average one?) At a young age, all you have are looks -- there has been little time to save money or build your career.

 

While 25K seems like alot at 21, when you are 30 or 40, that is a much smaller sum.

 

I would recommend saving as long as you can with the knowledge that the women who are rejecting you now because of hairloss will be begging to have you in another 10 years.

 

Save for the HT.

[notgoing2gobald]

Originally posted by TheEmperor:

 

In terms of "market fair value" women cannot say the same, they are a depreciating commodity. A fresh faced 21 year old will often look tired and haggard by the time she is 30. She'll be able to cover it with makeup, but make no mistake.

 

 

I would recommend saving as long as you can with the knowledge that the women who are rejecting you now because of hairloss will be begging to have you in another 10 years.

 

Save for the HT.

I agree 100%!

 

Great story to exemplify this...

 

Recently I heard on the radio, this girl had posted on a dating site that she was only interested in men who made at least 500K a year and were looking for a serious relationship to get married.

Her justification for this (what she brought to the table) was that she was both young and very sexy. Well, she got a response. A gentleman who was a stock broker for J.P. Morgan (and happened to leave all of his contact info for her) said that he feels that the terms of her agreement were unfair. He said, that while it is true that she is *currently* young and sexy, she is a depreciating asset while he is an appreciating asset. With time, her looks will fade. By the age of 30, she will no longer be "young" and not nearly as "sexy". On the other hand, he will not only continue to make money, but with all certainty will make even *more*. His net-worth, will continue to grow. While she, viewed as an "asset" will continue to depreciate.

He further justified his position by stating that, under her current terms she is bringing to the table her youth and sex appeal in EXCHANGE for his money.

 

He further stated that the likelihood of him losing his money is very rare, but if *IF*....IF, he ever loses his money, she will most assuradly leave him. As that is the sole reason why she wanted him.

But, make no mistake about it, she WILL lose her youth and sex appeal, then if he decides to leave her, she will have earned 50% of his net appreciation.

He ended with: I could not agree to this arrangement under your terms, but perhaps a lease shall suffice?

 

Oh, it was CLASSIC!

[TheEmperor]

Originally posted by notgoing2gobald:

Originally posted by TheEmperor:

 

In terms of "market fair value" women cannot say the same, they are a depreciating commodity. A fresh faced 21 year old will often look tired and haggard by the time she is 30. She'll be able to cover it with makeup, but make no mistake.

 

 

I would recommend saving as long as you can with the knowledge that the women who are rejecting you now because of hairloss will be begging to have you in another 10 years.

 

Save for the HT.

I agree 100%!

 

Great story to exemplify this...

 

Recently I heard on the radio, this girl had posted on a dating site that she was only interested in men who made at least 500K a year and were looking for a serious relationship to get married.

Her justification for this (what she brought to the table) was that she was both young and very sexy. Well, she got a response. A gentleman who was a stock broker for J.P. Morgan (and happened to leave all of his contact info for her) said that he feels that the terms of her agreement were unfair. He said, that while it is true that she is *currently* young and sexy, she is a depreciating asset while he is an appreciating asset. With time, her looks will fade. By the age of 30, she will no longer be "young" and not nearly as "sexy". On the other hand, he will not only continue to make money, but with all certainty will make even *more*. His net-worth, will continue to grow. While she, viewed as an "asset" will continue to depreciate.

He further justified his position by stating that, under her current terms she is bringing to the table her youth and sex appeal in EXCHANGE for his money.

 

He further stated that the likelihood of him losing his money is very rare, but if *IF*....IF, he ever loses his money, she will most assuradly leave him. As that is the sole reason why she wanted him.

But, make no mistake about it, she WILL lose her youth and sex appeal, then if he decides to leave her, she will have earned 50% of his net appreciation.

He ended with: I could not agree to this arrangement under your terms, but perhaps a lease shall suffice?

 

Oh, it was CLASSIC!

 

I heard about that! Do you have a link?

[notgoing2gobald]

No...I don't know what part of the country your in, but Im in California. It was on 93.3 FM...

Actually your response sounded so similar to that, I began wondering if it was you!

BTW-----------

how did you hear of this? You must be in Cali, eh?

[djdennis]

These guys are giving great advice to you!!! Loosing your hair is a weakness but you can also build it into a great strength (Thats Character)

 

But now wisdom is trying to knock at your door!! Sure get the Ht and finance and struggle with payments on the ht, Or wait a little while and save your $$$$ and set goals on how you are going to save.

 

My friend I was in your shoes and when I was checking out about 5 years ago in financing the interest rate for cosmetic surgery was at least 21% Thats high if you are going to go out and spend $5000 to $10,000. So I took wisdom and saved and waited to see how my hairloss was going to be in the future. I actually saved close to 20k and then I was having a hard time departing with 10k of this going to an Ht.

 

Well to make a long story short I did the ht and I negotiated the ht to $7900 for 3000 grafts my 1st ht. I waited 5 years to see what my hair did and got on the meds 1st to see if I would have any results without going through with an ht.

 

Well the meds worked great and I had a better Idea and less cost. If you can wait and save and struggle through the feelings of loosing your hair for a little while (you will be better off for your finances for the future) 2nd option wait atleast 1 year and get on the meds right away and save as much as you can to put down on the ht. How old are you and what norwood stage are you at?

[stevo]

Yep getting a HT isn't cheap, the lads have given some sound advice on here. Basically the best thing to do is to try and save the money.

 

But when you have researched HT's thoroughly, found the right doc and feel you need work doing right away it is going to be hard to wait and save.

 

For my first HT I paid the money out right and for my 2nd I hadn't saved the hole sum up so I paid for the majority and put the rest on a credit card. The advantage of my credit card is that I don't have to pay any interest until January next year and by then I should of paid it off.

 

What im saying is if someone needed work done pretty soon and had not saved up the hole sum, try and get hold of a 12 month interest free credit card and to pay the remainder off with that.

[MrJobi]

Another great reason to wait until you are past 30 for a HT.. Yes, it is pricey and one of the key reasons why I had 3 HT's. This way I could spend about 8k a shot and spread it out over 3 years..

 

I thought the Rich guy beautiful women example was a good discussion.. Funny how a woman can have no problem having "special" qualifications about a potential mate, i.e. rich .. Oddly enough this woman should not complain when she is 35 and this guy dumps her for a younger woman .. Really it is the same, thing. A person looking for ONLY superfical qualities which will fade over time.. Once it is gone there is no relationship left.. A bit of a double standard I would say.

 

She should not blame him for the same reasoning she used in the first place

[TheHairLossCure]

"Keep in mind too, that if one hair transplant won't meet your goals, you are going to want to develop not only a long term hair restoration plan, but a long term financial plan to cover all that you will need done."

 

You know, that is good point to mention. If one is going to need 2-3 sessions, there must be a long term financial plan that corresponds to the long term surgical one. Nobody needs a drawn out and unexpected financial burden.

[Bleachcola12]

Anyone pay with their ht surgery straight with credit card?

[psychojr]

As a financial advisor, I would say that if you can't afford to pay cash, you should go bald. Think about it - bald or in debt? Which is better? Being vain is not worth it.

[Dewayne]

Originally posted by psychojr:

As a financial advisor, I would say that if you can't afford to pay cash, you should go bald. Think about it - bald or in debt? Which is better? Being vain is not worth it.

 

I hear you, and I too am a CFP. However, there is such a thing as good debt and I don't see how anyone wouldn't agree the benefits (in some cases) of correcting a bald look couldn't be good debt.

 

There are things in life you should never borrow for, but this doesn't rise to that standard. A lot of things to factor in, but a little debt is better than being bald, imo.

 

If you've got a loan on a car or something else, sell that to whipe out some debt. Yes, everyone should save if possible, but if someone has their finances properly managed there is no reason they can't have the financing option.

 

If I'm earning $100k a year with only a $1k mortgage, I can't afford to put 8 grand on a cc and pay it off over a year??

 

I know people with plenty of money who still have some debt.

 

Good debt? If people in this country had to operate strictly on what they could pay cash for, it would be like 1890. I'm not a proponent of too much credit, but come on?

[repo-man]

Debt can be beneficial from a cost of capital standpoint in a number of instances. If your individual asset portfolio has cash and you are deciding whether or not to use the cash or take on debt, you must consider the cost of capital.

 

For example, if you take $10K and invest it in an asset class that will provide you with a return above the cost of debt, after taxes, you would be better off using the debt. Keep in mind, this also is dependent on your personal risk apetite.

[Dewayne]

Originally posted by repo-man:

Debt can be beneficial from a cost of capital standpoint in a number of instances. If your individual asset portfolio has cash and you are deciding whether or not to use the cash or take on debt, you must consider the cost of capital.

 

For example, if you take $10K and invest it in an asset class that will provide you with a return above the cost of debt, after taxes, you would be better off using the debt. Keep in mind, this also is dependent on your personal risk apetite.

 

Or, more importantly in my opinion, you look and feel awful because you're 22 and have premature thinning, a bad previous ht that's killing your confidence, or have a low debt to income ratio and want to make a meaningful improvement in yourself.

 

I'd say, while hard to measure, Mr. Jotronic, Bill, and some of the others might earn more now than they did when they were hid out under a hat or afraid to go out in public.

 

I was fortunate enough to have the money to pay for mine last week, but I think in a few months my earning power will increase just because of the new confidence I will have.

 

Even if I'd paid 9% interest? Probably still.

[djdennis]

There are alot of factors which will come into play for bleachcola. If he does decide to take a credit card debt? Will he be able to pay the financing if he is able to get 1 year with no interest. If he is not able he will be paying off the interest after that year and that is costly. How is this guys credit and what type of interest will he recieve from a credit card company. Never apply for a cosmetic credit card because the interest is crazy. Maybe he can wait and save 1/2 the $$$ to put down. I always dont reccomend going in at 100% financing. I just bought a brand New Mazda 2008 and paid half of my loan off and my goal is to pay the other half by september to be debt free. I think of debt as bondage!!! But as you say there is good debt,so take care of business and have a plan to get rid of bondage as soon as possible if you have the income and resources.

 

If this is a young guy and he is still in school or something or he is thinking about using some of his under grad $$$$, Then my postion for him is wait . I am a Real EstateBroker and I see peoples credit everyday and we do live in a world of unrealistic expectations for the average person.