Equity/Purchase Program

 Each time you make a rental payment, your equity will accrue at the rate of the quarterly rental cost ($45 for violins, $50 for violas and $90 for cellos).  Each instrument receives its own line of equity, even if you are renting more than one instrument. If you rent more than one instrument, the equity accrued on each instrument may NOT be combined to purchase one instrument. Up to 100% of your rental equity can be applied to the purchase of any other instrument in the shop for up to 50% of the value of the purchased instrument. For example, if you have $2,000 in equity you may use 100% of it to purchase an instrument worth $4,000 or more. However, if the instrument you choose to purchase is worth $3,000, only $1,500 of your equity will be applied to the purchase. Violin equity may not be used toward the purchase of a viola or cello, or vice versa.  Equity may not be used to purchase a bow. Equity must be used within 90 days after the close of the rental account, or it will be forfeited. A renter whose instrument is stolen without proof or is badly damaged will lose any equity accrued up to the purchase price of the instrument. Rental payments must be continuous to qualify for purchase with equity. The purchase price of instruments is based on current market value.