Should You Consider a Rent-to-Own Piano? – A Guest Post by Drew Guifarro

Note from Natalie: I learned early on as a piano teacher that I had to ask prior to even conducting an interview with a prospective studio family if they owned a piano. Beyond that, I learned the hard way that I had to insist that they purchase one prior to beginning lessons, and that it had to be a full-sized 88-key instrument. It’s great to know that there are options like this rent-to-own program available for families that are reluctant to make the initial investment to purchase a piano. I appreciate Drew’s concise explanation of the possibilities and what things to be aware of if a student opts to go this route!

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Most piano teachers recommend learning on an acoustic piano, but that typically involves buying one outright for thousands of dollars or rolling the dice with something on Craigslist. But what if you could get a high-quality piano for an easy monthly fee?

Rent-to-own programs can be a godsend for families are concerned that their student won’t stick with piano lessons. With a rent-to-own piano arrangement, you haven’t committed to buying the piano, and are able to send the piano back easily. Most of the time, there’s a modest upfront cost and then you get 100% of what you pay each month, for a certain period of time.

A Friendly Example

We, at Family Piano Co, offer refurbished pianos for lease, and require only a three-month-minimum commitment. You can purchase the piano completely at any time with only a marginal processing fee being added. Most uprights are available for $49 a month, with the first twelve payments going 100% towards owning the piano, and then 75% of it after that. Above this, we include our warranty on the piano, a free tuning every year it is rented, a bench, and even admission to our group piano class! For more information on Family Piano’s rent-to-own program, visit our site at: http://familypiano.com/piano-rental-program/.

Each Store is Different

In comparison, Steinway & Sons will typically rent out new entry-level Essex and Boston brand pianos for up to twelve months with approved credit. Additionally, there is a delivery charge, and applicable taxes on top of the monthly rate. Other details seem to be at the discretion of your local Steinway store, and will depend on any special promotions being run, so for more information, visit Steinway’s site at: http://www.steinway.com. Most piano stores will offer their own Rent-to-Own program, so it’s worth asking if your local store has something that works for your family.

Be Aware

While this can be ideal for students—especially new or young ones—who are practicing on a low budget, there are questions you should be asking as you read through the fine print.  

• How many months are you obligated to keep the instrument?  

• How much of your payments are actually going towards owning the instrument?  

• Can you return or exchange the piano if you don’t like it?  

• Are new pianos available, or do they only allow used ones to go out?  

• Who is paying for maintenance? What is covered by the warranty?

You have options when it comes to purchasing a piano, and you shouldn’t let a price tag define your limits. Rent-to-own programs make it a lot easier for families to get started on a high-quality used and/or new acoustic piano, without the concerns of getting “stuck” with a piano that doesn’t get played.

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