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Financing A Piano Is Easy

The Piano Credit Company

As I mention on my Buying a Piano? webpage, I am a dealer with the two main piano financing companies in the U.S., the Piano Credit Company and Allegro Credit. Financing a piano is a very good idea if you don't quite have the savings for the piano you desire and you expect to have the piano for 30 to 40 years. Both financing companies are good companies, and, as a dealer, I slightly prefer the Piano Credit Company. The current rates for the Piano Credit Company are 9.99% for financing up to 7 years with a 10% down payment and no prepayment penalties. This rate is fixed, so it will not change over time. For loans with terms of 8 to 10 years, the rate is 11.99% (monthly payments on piano pages are calculated at this rate). I also belong to the program the Piano Credit Company offers called 90 Days Same As Cash, where there is no interest paid by the borrower as long as the loan is paid off in 90 days.


Enter Piano Price into the Picarzo Pianos - Piano Financing Calculator


The Borrowing Process

The application is incredibly easy for the dealer to complete on behalf of the borrower, and requires minimal information from the borrower. If interested in financing a piano, the borrower would let me know, and we would identify and confirm the financial amounts of the piano purchase. I would calculate the monthly payment amount options for the borrower, and we would decide on a term/interest rate/down payment combination to apply for. (To obtain financing from the Piano Credit Company, borrowers must make a down payment on the piano equal to 10% or more of the total purchase price.) To obtain financing from the Piano Credit Company, the borrower would complete the fill-in PDF form that I would supply, and then the borrower would print, sign, scan, and send a copy of the completed form back to me along with a copy of the borrower's driver's license. I would enter all the information from the application into the dealer section of the Piano Credit Company website to obtain an approval. Approval decisions are usually made within seconds, unless a manual review is required (e.g., for high dollar amounts), which may take an additional hour or two during their regular business hours (7 days a week). Once approved, we would complete a Picarzo Pianos purchase/sale agreement, and the borrower would sign the Piano Credit Company loan documents electronically (using docusign, either in my store or remote at the borrower's home computer). Once the loan documents are signed and processed (within 2 business days), the piano can be moved to the borrower, and the piano must be delivered to the address of the applicant. The first payment will be due to the Piano Credit Company approximately 30 days from the borrowing date.


Visit The Piano Credit Company Website

I encourage you to visit The Piano Credit Company website for more information if you are considering financing your dream piano through the Piano Credit Company, which is underwritten by First Mutual Financial Corp based in Mayfield Village, OH.


Below are some additional benefits from the Piano Credit Company's website to borrowers who finance a piano.


Highly Competitive Fixed Interest Rates

APRs (Annual Percentage Rate) are NOT risk based, which means they are always fixed and are frequently 10-15 percentage points better than a credit card.


Low Monthly Payments

Depending on the amount financed and the length of the term, we can help the customer keep payments low to help meet their budget needs.


Increased Purchase Power

Enjoy the advantages of a fixed installment loan including lower costs, no hidden fees, and the power to buy big ticket items. First Mutual works with individual consumers allowing them to make the purchases they want or need. Avoid the restrictions of a credit card with First Mutual Finance.


No Pre-Payment Fees

There is no fee for paying off any of our loans early. Any payment made that is greater than the regular monthly amount is applied directly to principal. Pay off early and save!


Free Online Bill Pay

First Mutual offers free and easy to use online bill pay for the consumer’s convenience. Make a one-time payment or schedule payments to occur monthly.




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