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Hearing Aid Financing

According to the World Health Organization, 430 million people suffer from hearing loss. Of these, only around 5% use hearing aids. 

The high cost of hearing aids is a major barrier to their use, where the average cost of a pair of hearing aids is around $5,000 in the United States. 

Luckily, financing options are available to make hearing aids more affordable.

What Is Hearing Aid Financing?

Hearing aid financing is a type of loan that helps people pay for the costs associated with hearing aids. 

There are a few options when it comes to financing hearing aids. 

One option is to take out a personal loan from a bank or other lending institution. Another option is to use a credit card, or work with a financing partner, to pay for the expense over time. The later tends to be more common. 

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The Best Hearing Aid Financing Options

There are a few companies that offer financing specifically for hearing aids and hearing-related costs. 

Here are four of the most popular hearing aid financing companies:

1. CareCredit 

Credit Score Required: 620+

CareCredit is a popular healthcare financing credit card. It’s commonly used to pay for hearing aids and other related costs

The payment structure works similarly to other credit cards, but with one major difference. 

Unlike most other credit cards, with Carecredit you can make payments interest-free under certain conditions. To avoid interest, you must pay the minimum balance due monthly, on time, for the duration of your agreement. There are no annual fees.

Best for: Those in good credit standing who want to avoid paying interest.

Pro: Interest-free payments ($0 interest as long as your hearing aids are paid off in 12 months). No down payment required.

Con: If hearing aids are not paid for in full within the period, 27% interest is charged.

Apply Now to Care Credit

2. Allegro 

Credit Score Required: 520-620+

Allegro offers hearing aid financing (at Audicus, Allegro can be used to purchase the Spirit and Omni Hearing Aids). Allegro offers flexible financing options and low monthly payments.

Compared to many other financing programs, Allegro offers greater flexibility for individuals with low credit scores. Because of this, Allegro can be a good option if you have lower credit scores and need financing. 

Best for: Those with lower credit scores.

Pro: Find out if you’re approved in minutes.

Con: No discounts can be used with Allegro purchases.

Apply Now to Allegro

3. PayPal

Credit Score Required: 650+

PayPal, the popular online payment platform, offers financing for hearing aids through their PayPal Credit service. They offer 0% APR for 6 months on purchases of $99 or more.

Best for: Those who frequently use PayPal and already have an account.

Pro: 0% interest over 6 months.

Con: Requires a higher credit score for approval.


How To Finance Hearing Aids

older couple with pen and calculator preparing finances

There are a few steps that you will need to take to finance your hearing aids:

  1. Figuring out the cost: The first step is to figure out how much the hearing aids will cost. This includes the cost of the hearing aid itself, as well as any related costs such as fittings, repairs, and batteries.
  2. Look for the right financing option: The next step is to find a financing option that best suits your needs. There are a few different options available, such as personal loans or credit cards. Be sure to check out the interest rate, repayment schedule, and any other terms and conditions.
  3. Apply for financing: Once you have found a financing option, you will need to fill out an application. This will include some basic information about yourself and your finances. 
  4. Start making payments: If you are approved for the loan, the next step is to sign the agreement and begin making payments. The payments will be based on the terms of your loan, and you will need to make them on time to avoid any penalties.

Who Is Hearing Aid Financing Right For?

Hearing aid financing is a great option for anyone who needs hearing aids but doesn’t have the upfront cash to pay for them. It can help make hearing aids more affordable, and it can give you the flexibility to choose the best financing option for your needs.

Finance Hearing Aids vs. Buying Out of Pocket

Although one method may sound like a good idea, it’s a good idea to consider the pros and cons of both financing and paying out of pocket before making a decision.

Paying Out of Pocket

Pro: The biggest advantage of paying out of pocket is that you will own the hearing aid outright with no monthly payments or interest to worry about.

Con: Buying outright can be very expensive, especially if you’re already strapped for cash or operating on a tight budget. Hearing aids can cost several thousand dollars, so buying in one lump sum may not be an option for everyone.


Pro: Financing hearing aids can make them more affordable. You can spread the cost out over time with monthly payments, and some companies offer 0% interest financing. 

Con: A potential downside of financing hearing aids is that you may end up paying more in the long run because of interest. It’s important to read the fine print and make sure you understand all the terms before signing an agreement.

Frequently Asked Questions (FAQs)

Want to know more about hearing aid financing? Here are some frequently asked questions that may help you understand the process a little better.

Can I get hearing aid financing with bad credit?

Most hearing centers or local providers only offer financing if you have a good credit standing, however, there are a few options for those with less than perfect credit. Some companies specialize in bad credit loans, so it’s definitely worth looking into all your options before you decide on a lender.

Can I finance my hearing aids with CareCredit?

CareCredit is a healthcare credit card that can be used for financing hearing aids, among other things relating to hearing care. Unlike other bank credit cards, this particular card offers special financing options for hearing aids and allows you to avoid paying interest. It’s worth checking out their website to see if you pre-qualify – if you do, then it might be a good option for you.

What credit score do I need to qualify for hearing aid financing?

There’s no one answer to this question since different companies have different standards. However, in general, the higher your credit score, the better your chances of getting approved for a loan. If you have good credit, you might be able to get approved for a 0% interest loan – meaning that you won’t have to pay any extra money in interest on top of your loan.

Audicus Payment Plans

At Audicus, we believe that everyone should have access to better hearing. That’s why we offer a variety of methods to make our hearing aids more affordable.You can finance your hearing aids with CareCredit, completely interest-free if you pay in full within 12 months.

Have a lower credit score? Allegro offers low monthly payments for our most advanced hearing aids, the Omni and the Spirit.

Alternatively, you can explore our membership option, Audicus Premier, which allows you to lease your hearing aids for as little as $99/month.

If you’re not sure which option is right for you, our team can help. Give us a call at 1-800-971-0451 or send us an email at  and we’ll be happy to answer any of your questions.