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Trading-In Purchased Rentals
Trading-In Toward Similar Quality Instruments
An instrument outfit purchased through the rental program may be traded-in for another rental quality outfit of equal or greater value. The trade-in policy toward rental quality instruments of equal/greater value is as follows:
|
Time of Ownership |
Trade in Value |
|
First 3 Months |
100% |
|
Months 4-12 |
90% |
|
Year 2 |
80% |
|
Year 3 and Beyond |
70% |
| This policy also applies to rental quality instruments/outfits previously purchased using a purchased rental as a trade-in. Purchased rentals may NOT be traded-in toward a new rental contract.*** |
Trading-Up In Quality from a Purchased Rental
When trading in an outfit paid-off through rental toward a step-up instrument, the trade-in value will be as follows:
| Trade-In Value | 70% with a $75 (violin/viola) or $150 (cello) trade-up fee (Minus and loss in value due to misuse, damage, repairs) |
Trading-In a Student Quality Instrument Purchased Outright
Outfits Not Purchased Through RentalWhen trading-in an outfit purchased outright (not through rental or previously purchased using a traded-in rental purchase) toward another student quality instrument or step-up instrument, the trade-in value will be as follows:
| Trade-In Value | 100% with a $75 (violin/viola) or $150 (cello) trade-in fee (Minus any loss in value due to misuse, damage, repairs) |
| *This policy also applies to instruments paid off within the first three months of rental; those which include the 30% discount for early-payoff.*** |
Step-Up/Advanced Instrument Outfit Trade-Ins
Step-Up Instruments Not Purchased Through RentalWhen trading an advanced instrument and bow (items not purchased through rental) to another handmade instrument/outfit of equal or greater value, the trade-in is as follows:
| Trade-In Value | 100% for the Instrument & Bow (Minus any loss in value due to misuse, damage, repairs) |
*Case trade-ins are accepted on a case-by-case instance and trade-in values will be determined according to individual wear/condition.
Lashof Violins does not assess a flat restoration fee or flat trade-in value to handmade instruments/bows. Each instrument/bow is evaluated individually. Well-maintained instruments/bows will have higher trade-in values than items showing signs of neglect/damage or in need of maintenance. This policy applies toward instruments/bows purchased through Lashof Violins. All trade-ins must be made by original purchaser; trade-ins made by someone other than original purchaser will be evaluated individually. Lashof Violins reserves the right to decline trade-ins of instruments/bows/cases/outfits which are deemed damaged beyond reasonable repair.
COVID 19 POLICY ADJUSTMENTS
In light of our store closures during the COVID-19 crisis, we are making the following adjustments to our normal trade-in policies.
Trade-In Policies
Rental Instruments Purchased/Paid in Full from 3/1/2020-5/31/2020
All customers who have rental contracts which were completed/paid in full (instruments purchased with the promotional 30% discount are excluded) from the dates of March 1, 2020 through May 31, 2020, will have the following option if they wish to get a different instrument:
Trading-In Toward the Purchase of a Similar Quality Instrument
The date of ownership used to determine 100% trade-in dates will be adjusted to reflect June 2, 2020. (Instruments’, bows’, and cases’ conditions will still be evaluated and excess damage will still be deducted from potential trade-in values.)
For example: you paid off/completed payment a violin rental on 4/15/2020. The first three months of ownership would be adjusted to begin on 6/2/2020 and would end on 9/2/2020.
Rental Instruments Purchased/Paid in Full from 12/1/2019-2/28/2020
All customers who have rental contracts which were completed/paid in full from the dates of December 1, 2019 through February 28, 2020, will have “first three month of ownership” trade-in dates extended to 7/31/2020.
Trade-Ins of Rental Quality Instruments
Rental quality instrument purchases whose end of Year 1 or Year 2 trade-in dates ended during 3/1/2020-5/30/2020 have been extended to 7/31/2020.