RENTAL AGREEMENT BASIC FEATURES
Rent Applies To Purchase. Should you decide to purchase this instrument at any time, your rental payments will apply toward the purchase price of this instrument.
Ownership. You the customer (the “lessee”), own the instrument when rental payments equal the purchase price. During the rental period the instrument remains the property of Meyer Music (“lessor”). The instrument may not be sold, subleased, or otherwise encumbered until it is owned by the customer.
No Finance Charges. Monthly payments will stay the same.
Return Privileges. You may return the instrument at any time without penalty.
Exchange And Return Privileges. You may exchange the instrument for an instrument of higher level at any time with all credit transferring. The rental fee changes to the current rate for the new instrument. Exchanges will be considered extensions of the previous rental agreement.
Maintenance / Repair / Replacement. Any needed repair, maintenance, and service will be provided to keep the instrument in good playing condition. Any adjustments and repairs must be made by Meyer Music.
Purchase Options: When ready, you may select one the following options with your accumulated credit.
- Purchase of your current instrument may occur when rental payments equal the instrument’s list price.
- Discount for early purchase is available anytime during rental of the instrument.
- Transfer of 50% of your credit towards the purchase of a different instrument kind or non-rentable instrument.
MAINTENANCE PROTECTION DETAILS
Maintenance And Repair. Any needed repair, maintenance and service will be provided to keep the instrument in good playing condition. Any adjustments must be made by Meyer Music.
Replacement. If the instrument is accidentally damaged beyond satisfactory repair, it will be replaced with one of equal value. In case of loss by fire or forced entry theft, a police report must be filed within 48 hours. You must provide us with an actual copy of the police report at your expense and pay a deductible equal to 10% of the purchased price. Upon receipt of police report and deductible, an instrument of like value will be furnished to you.
Not Covered. Coverage does not include expendable accessories such as reeds, lyres, cleaning equipment, drumsticks and mallets, removal of minor dents or scratches which do not affect playing condition, restoration of finish, damage done by unauthorized persons attempting repairs or malicious or repeated damage or abuse. Instruments do not qualify for service or protection unless payments are current.
OTHER TERMS AND CONDITIONS
COUPON BOOK. For any customer that elects to use a coupon book, a $1.00 processing fee is added per month. A customer can opt out of this fee by switching to autopay at any time.
Late Charge Notice. There is a $3.00 late charge on any payment that is more than five days late. This charge does not apply to autopay.
Default Notice. If a monthly payment is not made or if instrument is not returned to Meyer Music within (10) days following the due date of a payment, Meyer Music may assume that customer no longer wishes to continue the rental contract, and may reclaim the instrument wherever found at school or elsewhere, with or without knowledge of the renter. Meyer Music may declare the balance due in full if instrument is not returned or reclaimed and may bill authorized credit card. Should legal action be necessary, customer agrees to pay legal fees.
No Refund of Rent or Credit. These payments are nonrefundable. If instrument is returned, rental monies and credit are considered a “use fee” for rental of the instrument. Rental monies and credits only apply toward purchase of the instrument. Seller’s interest may be assigned to another company, agent, or collection agency. Assignee will have rights but no obligations of Meyer Music under this agreement.
Early Return of Instrument Following Annual Rental: If an instrument is returned during an annual rental, a refund will be given. The refund will be based on the standard monthly rate. The value of the refund will be the amount paid less the number of months rented at the cost of a standard monthly rental.