If you’re a band parent, chances are you’ve been offered to rent a musical instrument from the local music store. At first glance, this might look like a really good idea. And in some cases, it might be. Unfortunately, though, a lot of music stores prey on parents who really don’t know much about the musical merchandise they are renting or what it should cost. Often, you would be better off to simply take out personal loans and buy a new instrument (or better, a used one).

The idea behind renting an instrument is that your kid can try it out for a year and see if he likes it. If he doesn’t, no harm, no foul, you can return the instrument. The problem is, by the end of the year, in most cases you’ve paid for about half the instrument anyway. If your kid decides she doesn’t want to play the instrument, in most cases, you could sell it used for at least the difference, and often times, more.

Of course, musical instruments aren’t cheap. Even used ones can get pricey. And if your child does continue playing, he’s probably going to want a new instrument with a better brand label on it in a couple years anyway. The rental instruments are almost invariably baseline entry level instruments (read: junk that your kid won’t want to play if he sticks with music).

Here’s a tip when buying musical instruments. Do your homework and find out which brands are the “good” ones, or at least mid-level. Don’t ask the sales reps, do some research online or, better, talk to people who play the instrument. Then, buy the best instrument you can afford. Even if it means taking out  small personal loans, the better the instrument you have, the longer your son or daughter will play it.

In the event she doesn’t stick with music, you’ll have an instrument that’ll retain its value better, and it’ll be easier to sell. The reason for that, quite simply is that you’ll have a potential market amongst kids who are upgrading to a better instrument. If you have an entry level instrument, the only ones who might want it are those who are just starting out…and most of them are busy being duped into renting an instrument.

Photo via Oquendo