Rental Agreement Downpayment for Premium Used Alto Sax
Damm Music offers the Best Rental plans in the Wichita area. Start renting your child's instrument from Damm Music and rest assured knowing if he/she loves band you can take advantage of the 40% early pay discount. Or if band just just isn't working out... simply return your instrument with no further obligation. You can also continue renting your instrument until you own it. A Premium Used Alto Saxophone rents for $42/month. After 29 month's rent, you own the instrument.
Repairs and maintenance are covered while renting and 100% of your rental payment applies to the purchase of your instrument.
*Used instruments are subject to availability. Please call 316-773-9060 or e-mail, Kevin@DammMusic.com to make sure we have an instrument in stock.
After making this down payment you will need to complete our Rental Agreement. Rental Agreement must be completed in our store by the person that will be financially responsible for the rental. This can be done when you come to pick up the instrument. Please select "In-Store Pickup" when checking out in our Shopping Cart.
Details of our Rental Agreement with Purchase Option
Section 1: Instrument Description
- Type: Premium Used Alto Saxophone
- Model: Varies
- Brand: Varies
- Case & Mouthpiece Included
Section 2: Instrument Price
- Price: $1,218.00
- Sales Tax: $91.35*
- Total Cost: $1,309.35*
- Monthly Payment: $42.00
- Sales Tax: $3.15*
- Total Monthly Cost: $45.15*
- *Sales Tax Rate is based on the current 7.5%. If changes are made to the Sales Tax Rate this amount may change.
Section 3: Options
ALL OPTIONS ARE AVAILABLE THROUGHOUT THE RENTAL
- Option 1: Rent-To-Own Installments; After 29 successful payments of $42.00, totaling $1,218.00 plus applicable sales tax, Customer will own instrument herein. Payments will be made by automatic credit/debit card transaction. The first payment is due at the time this agreement is executed. The second payment will begin on the 1st day of the next month following 15 days from the date of this agreement. Each consecutive payment is due on the first day of the month. A late fee of $10 will be applied to payments made after the 5th day of the month. When final payment is made Customer owns the instrument.
- Option 2: Return & Cancel this Agreement; Provided that payments are current and the instrument is in good condition, at any time after 3 payments have been made, the instrument may be returned to Damm Music Center, Inc. in full satisfaction of any remaining obligations under this agreement. It is the customers responsibility to return the instrument in good condition. Any damages (other than normal wear and usage) will be evaluated by Damm Music Center, Inc. and will be the customers responsibility to pay for any costs incurred in restoring the instrument to good playing condition. Instrument must be returned before the last day of the month. An instrument returned on the last day of the month will be charged for the following month's rent.
- Option 3: Buy Now 40% Discount; Provided Customer is not in default of this agreement, Customer has the option to purchase Instrument listed herein for $1,218.00*. Damm Music Center shall credit towards the purchase price all previous rental payments made by Customer. Customer will then receive a 40% discount from the remaining price to determine the final purchase price.
Section 4: Customer InformationThis section will be completed when you pick up the instrument. Includes your name, address, date of birth, driver's license number, social security number, employer, phone, e-mail, secondary contact, students name, grade and school. Renting the instrument is similar to signing up for a loan from a bank, we need to collect sensitive personal information to secure the property.
Section 5: Payment AuthorizationThis section will be completed when you pick up the instrument. We will need a credit/debit card or bank routing info to collect your payment. You card or bank account will be automatically debited on the first day of the month while you are renting.
Section 6: RepossessionThis section will be completed when you pick up the instrument. You will initial this statement; I authorize Damm Music Center to repossess the instrument at school if this agreement is in default.
Section 7: Terms and Conditions
SECURITY INTEREST: Customer grants Damm Music Center, Inc. a security interest in the instrument being sold. The security interest secures all amounts Customer owes under this agreement. Customer may prepay any amount due under this agreement at any time, without penalty.
DEFAULT: If Customer fails to make any monthly payment within 10 days of the due date, or if it appears unlikely that Customer will be able to make any monthly payment within 10 days of the due date, or if collateral is no longer in Customer’s physical possession or it is not in good condition (excepting normal wear and use) or if Customer gave false or misleading information on this agreement, or if Customer files a bankruptcy petition or one is filed against Customer, Damm Music Center, Inc. may declare this agreement to be in default.
Upon default Customer is required to return the instrument immediately or pay the total outstanding balance of this agreement immediately. Customer is obligated to pay costs of collections, including, but not limited to: Late Fees, Court Costs, Attorney Fees and Collection Agency Fees. Damm Music Center, Inc. may take possession of the instrument from school, home or wherever the instrument is located. Criminal charges may be brought against Customer if instrument is not returned or paid for entirety as described.
LATE PAYMENT: There will be a service charge of $10.00 per month on any payment that is delinquent by 5 days or more. Customer agrees to pay this delinquency or late payment charge.
MAINTENANCE: At any time during the term of this agreement Customer may bring the instrument to Damm Music Center for adjustments that need to be made due to normal wear and usage. It is strongly encourage that Customer bring the instrument to Damm Music Center during Winter and Summer breaks from school for regular adjustments and maintenance. All regular maintenance is the responsibility of the Customer. New instruments carry a manufacturer's warranty against any defective parts and labor cost that may be involved with correcting defective parts. There is no coverage for damages occurring from negligence, lacquer, or finish deterioration, repair of cosmetic dents, and replacement of expendable accessories including but not limited to; mouthpieces, reeds, oils, strings, bow hair, drum sticks & mallets, and drum heads.
CHANGE OF ADDRESS: THE INSTRUMENT MUST BE USED AT THE SCHOOL AND HOME ADDRESS HEREIN. PRIOR WRITTEN CONSENT FROM DAMM MUSIC CENTER, INC. MUST BE OBTAINED IF THE INSTRUMENT IS TO BE USED AT A NEW ADDRESS OR SCHOOL DISTRICT. Failure to obtain prior written approval would be a breach of this agreement and Customer may be required to return the instrument or be liable for the entire remainder of the principal balance immediately.