How do you finance a new organ?

How do you finance a new organ?

Here is a little scenario that is bound to happen…

Little Jimmy has been playing keyboard for 3 years now and you would love him to move onto an organ. With the financial market in a mess, what do you do to buy an organ. There are many second hand organs available at good prices, but even then, you can be looking at spending £5000 of your hard earned cash. Traditionally you could take out a personal loan, but with the credit market in the mess that it is at the moment, what happens if your finance company refuses the finance?
This is indeed a very difficult situation, but finance companies appear to still be lending on electronic organs. If you want to buy a £16,000 organ then of course the monthly loan repayments can be incredibly high, and when you consider that the money you are borrowing is nearly the same amount as a normal family car - you want to make sure you get a good deal. We would always strongly advise you shop around for various personal loans or finance deals. Companies such as Lombard and Lloyds offer good rates, even in a recession. Another option would be to pay for it on your credit card and pay it off over a number of months, but most card deals are around 15% at the moment, so not a great deal to be had there.
If you have financed a recent purchase of an instrument and had a good experience, we would like to hear from you. In addition, if you have had a bad experience with a finance company let us know.

With little sign of the market improving at the moment, we want to know how you buy your instruments. If you are a lucky cash buyer, at the moment, cash is king and you can get a really good deal from music dealers.