Musical Instrument Financing: Payment Plans vs. Rent to Own vs. Traditional Credit

Discover the best musical instrument financing: monthly payment plans, progressive leasing, music store credit cards, personal loans, and rent to own.

If you’re considering financing a musical instrument like a guitar, it’s important to look at the options you have available to you before making that important purchase. Going with the right financing option can save you loads of money on your purchase as well as help you to get the perfect instrument on terms you can comfortably afford. In this article, I’ll dig deep into the various options that are out there for financing music gear and discuss the pros and cons of each.

Some popular options for music store financing that I’ll discuss are:

  • Monthly payment plans
  • Progressive leasing
  • Music store credit cards
  • Traditional credit cards
  • Personal loans
  • Rent to own
  • Layaway (not a pay as you play option)

Among the choices we’ll discuss, my personal favorite is the monthly payment option. I prefer it for most scenarios because the monthly payment options I make use of don’t currently run a credit check, so my credit score doesn't take a temporary hit during the application process. I also appreciate the simplicity of this option — all I need to worry about is making one payment monthly to ensure my purchase is paid off within the financing term. If you’d like to know more, you can check out the article I wrote on the best monthly payment plans for musical instruments.

Useful applications for Musical Instrument Financing

Getting the right financing on a musical instrument can help you get the perfect guitar, digital piano, drum set, microphone, or music studio recording gear. It’s also a great option for parents who want to finance an instrument their child will use in music class or for band practice.

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