Renting Vs. Purchasing
Renting can be a great tool for helping students who are not sure if they will continue band program. It offers an inexpensive way of "trying out" the instrument prior to committing.
Renting an instrument is a great way to "test the waters". No parent wants to purchase a $300+ instrument just to find that two months later their student has completely lost all interest. Had they rented an instrument instead they could have saved themselves $250. We recommended renting for a short amount of time or maybe up trough the first year for a new student.
Purchasing Vs. Rent to Own
Most people dont realize that once on a rent-to-own program, by the time you own the instrument you have paid more in rental fees that you would have paid if you had just bought the instrument initially. This is the result of paying list price rather than the normal selling price, usually 30-40% less than list pricing. Contracts will usually include hidden interest and insurance fees. In most cases, families end up paying two-three times more in a rent to own contract.
Purchasing a new instrument has its own advantages. At IBI you will find the everyday discounted price far below retail pricing. Once an instrument is purchased, there are warranties that cover any manufacture defects, some companies even have warranties that cover throughout the students school playing years at no additional charge. Re-sell value is another key factor to purchasing an instrument. After high school band, some families will sell their instruments (in good condition) to new students and potentially profit 30-50% of the original value.