The purchase of a piano is a lengthy affair and should be well considered. After all, even the cheapest versions quickly cost as much as a used compact car.
Who has little money, but still does not want to do without his dream instrument, can fall back on several options:
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Admittedly, buying the instrument directly is not a particularly imaginative tip. How am I supposed to buy the instrument if I have no money??
If you have no money, you should first be sure that you absolutely must have exactly this instrument. Maybe it is possible to go one size smaller, or even a good used version will do. I advise everyone to buy a used piano from a dealer, there the instruments are usually well maintained and work perfectly. A good place to start is, for example, Musikhaus Kirstein. I have also shopped there before.
I honestly don't think much of Ebay or private ads, because there are a lot of scammers on the way. Who would like to look there nevertheless gladly times, should look at my councellor article over the purchase of private persons.
Renting instead of buying
Renting is particularly worthwhile in 3 cases:
- As a beginner you don't know if you will enjoy playing the piano in the long run, so that the investment is not worthwhile (yet). After all, many parents buy a piano for their still undecided (resp. Leaps and bounds) children.
- You really want to have a piano, but you don't have the financial means to buy one
- As an advanced player, you definitely want a very high-quality piano that costs several thousand euros at once. But one does not have the necessary small change for it.
Now there are different models depending on the dealer. As a rule, the following costs are incurred when renting:
- Delivery: Between 80 and 200€.
- Monthly costs: these can vary greatly, depending on which piano you want to rent. It starts at 15€ for a used piano and is almost not limited upwards. For a decent new rental piano you have to plan between 50€ and 70€ per month
As a rule, the piano is delivered tuned. All further tuning must be done by the customer at his own expense!
- Collection: Also between 80 and 200€.
- If the condition of the piano has drastically deteriorated during the rental period (eg. If the piano has any defects or technical faults, the lessee will have to pay additional costs, similar to those for leasing a car. In the worst case, the damage can be so high that several thousand euros of damage enstehen. Make sure that the piano is insured if possible.
Many dealers also offer an installment plan. Here you pay your rent normally. If the renter now wants to buy the piano, either a part of the rent, or the full rental amount will be deducted from the purchase price. Often, however, the dealers then demand a higher purchase price than if you had bought the piano directly. So that it is also less worthwhile
If the decision for a piano was made, but the money is not to be found, one can borrow the money of course also and pay back in installments. There are two ways to do this:
Financing through the dealer
Many dealers now offer financing for the purchase of a piano. The dealer Kirstein mentioned above, for example, offers 0% financing if you want to split the amount into 6 monthly installments. If the monthly installment is still too expensive, you can also agree up to 72 installments. Then fall but also directly high interest rates of almost 10%!
Therefore, the financing is actually only useful if you get really good conditions there. Note the fine print in any case! Where 0% financing is on it, this is not always in it.
Financing through a bank
Sometimes it is much cheaper to take out a small loan with a bank than to apply for a loan from the dealer. Above all, the interest rates at the banks are currently so low that the installment purchase is almost more worthwhile than to pay the whole thing immediately in cash. Here, too, the following applies: Do not simply take out a loan with your bank, but compare the conditions carefully.
I myself have never taken out a loan for a piano, but for a used car. I have used the credit comparison of finanzen.I have used the installment plan and have actually paid a total of almost 2.000€ opposite my house bank, the savings bank saved. If you are interested, I have added this comparison calculator:
As you can see, there are several ways to buy a piano. I always recommend to buy the piano completely with the available capital. If the dealer offers 0% financing, this is of course also a profitable option.
If, however, no capital is available, you should really think about whether you choose either a cheaper piano, or whether you really want to take out a loan for it. With the credits one should compare in any case, no matter whether from the dealer or a bank. Here the savings potential is several thousand euros!
I can least recommend a rental piano. No matter whether you rent or hire-purchase, in the end you pay for it. I would only recommend renting an instrument to people who do not yet know whether they are interested in playing the piano in the long term.
What do you think about financing and renting a piano?? Write in the comments!