You may already know what financing is, maybe you’ve been doing it for years. It’s how most of us can afford to purchase big-ticket items, like a car, house, or education. But did you know you can also finance musical instruments or equipment?
What is musical instrument financing?
Financing instruments (with the help of Synchrony partners lets you buy the gear you need without the burden of a hefty and immediate price tag. Instead, the cost of your instrument is broken up into manageable payment options you make over time.
Why finance a musical instrument?
Are you looking for an open hole sterling silver flute to level up an intermediate flute player? Need to set up a custom drum kit or upgrade your amp?
Instruments are expensive, but you’re in a better position to purchase what you need with financing options or specific credit card offers.
What are the benefits of buy now, pay over time music financing?
Financing options are a useful solution to help you, a friend, or a loved one cultivate their musical talent.
When you choose to finance an instrument (or musical equipment) with a Synchrony partner, you can expect the following benefits:
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Convenient monthly payments
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Exclusive promotional offers*
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Quick and easy application
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Fast credit decisions
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100% protection from theft or loss with 0% fraud liability
Buying vs. renting a musical instrument
Maybe you’re looking for a smaller payment or aren’t ready to commit to a particular instrument. Renting an instrument may seem more appealing than purchasing one when you’re just starting out.
Remember, though, every payment you make to a rental company is money you won’t get back. Buying an instrument instead of renting means that if you decide to change instruments (or upgrade one), you can sell or trade-up when you want to.
Financing an instrument over time is just as easy on your wallet as renting, but with the added benefit of being able to reuse that money when you’re ready.
Musical instrument financing pro tips:
Financing an instrument with monthly payments can be a commitment. For example, a top-end guitar can cost as much as $10,000. So before you apply for financing, consider these protips:
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Research your instrument or equipment: Because instruments are expensive, you’ll want to make sure you’re making a good choice. Look around online and in stores, chat with experts, and read reviews to find the right gear.
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Compare financing offers and interest rates: See what sort of promotion or discount you can get as a new cardholder. Different stores run varying promotions at different times. Eligibility, credit approval requirements, and interest rates may also may differ.
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Get out your calculator: Time to crunch the numbers. Once you know what you want to buy and which offer you wish to pursue, you should be able to calculate your monthly payment. If you can’t, contact the store to see if they can provide you with a monthly breakdown of your payments. This may be impacted by your credit score, following a credit check.
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Create a budget: Can you afford your new monthly payment? Consider your budget and make sure that your new payment is something you can afford. You may find that it’s a better idea to consider a more affordable choice, or conversely, that you’re able to purchase a more expensive, high-end instrument.
How can Synchrony help you pay for a new musical instrument or equipment?
Ready to jam? Whether you need an entry-level instrument for a new student or you’re trying to equip your new band, financing gives you options you may not otherwise have. Our partners are here to help.
Explore offers from our partners to learn more about your eligibility for musical instrument financing and how you get playing today.
*Subject to credit approval.