Rental Terms and Conditions
1. This is a rent-to-own agreement where all the monthly principal and sales tax apply to this instrument. A minimum commitment of two months is required to begin this agreement, a minimum of three months rent for guitars and drum sets.
2. There are no interest charges on this contract. The administration fee covers the administration of this account and the cost of standard maintenance of this rental instrument.
3. A valid credit card number must be kept on file at all times. Payments not received by the 14th of the month will be charged to this card on the 15th. No statements will be sent.
4. The renter is responsible to pay for the months that the instrument is in the renter’s possession, and may return the instrument at any time. The initial rental payment is non-refundable.
5. **The early payoff options on the remaining balance are:
1) 30% discount during the first 12 Months of this contract.
2) 10% discount thereafter. A maximum of 12 months worth of principal paid may be applied to a different instrument of a greater retail price. The discount will be pro-rated, in accordance to the early payoff option listed above. (**No other discounts will apply)
6. A $10.00 late fee per month will be assessed to each account that becomes more than 10 days delinquent. The renter agrees to return the instrument/equipment should the account fall 30 days past due. Should collection be necessary, renter agrees to pay all collection costs.
7. Until paid in full, this instrument/equipment remains the property of Ingram & Brauns Musik Shoppe. The renter agrees not to sell, pawn, loan, or otherwise dispose of this instrument prior to its payment in full.
8. The renter remains liable for the loss or damage to this instrument.
If the instrument is returned damaged or missing equipment, the renter will be billed for the cost of repairs and/or replacement.
9. We offer accidental damage coverage and theft/fire waivers for all student models. The monthly fee for the student models is $3.50 for the violin, viola, guitar, trumpet, clarinet and flute. $5.00 for the student model trombone, cello, oboe and saxophone. Any repairs to our instruments must be performed in our shop. A police report is required for theft, or fire waivers. At the time we receive the report, this contract is canceled and no further payments will be required.