The most cost effective, efficient laser for this would be the laser cousin - an Intense Pulsed Light system.    Doing a light peel on the area about 1-2 weeks before the laser, would help the light penetrate better.

The problem with the IPL systems is they are not created equally.  Spas and some doctors have very weak systems that are a waste of time in my opinion.  Look for an office with an full-time dermatologist with a long track record in your area specializing in laser treatments.