Other Important Elements of Installment Sales Law Service charges on installment sale contracts, such as those for musical instruments, are limited to 18 percent interest. You are entitled to a completely filled-in copy of this agreement. Under the law, you have the right to pay off in advance the full amount due and under certain conditions to obtain a partial refund of the service charge. Repossess the instrument within 10 days of receiving notice of intent to cancel a contract. If you go to a dealer to shop for an instrument, the dealer is not required to give you three days to cancel any contract you sign.
Dealers offer a variety of instruments and leasing and purchasing options.
You won't know what's out there unless you look. Get it in writing. If a dealer says you have a right to return an instrument you are purchasing even after three months, make sure the contract says the same thing. If a deal sounds too good to be true, it probably is. What matters is the total price you will pay for an instrument from a particular dealer.