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Financial Information

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WORSHIP RESOURCE

Be sure to check out the worship related music books and MIDI discs at yamahamusicsoft.com.



 

 



How can your worship organization acquire the instruments you need without overstepping budget restrictions? Leasing. And it offers many very attractive advantages. Capital investment is kept to a minimum, preserving cash flow. Your organization can obtain a number of instruments at once, instead of purchasing them piece by piece. It’s a method that gets praise bands up and running quickly, with minimal financial impact.

   
Benefits of Leasing Versus Purchasing

- After the lease has been paid in full, the church may purchase the instruments on the lease for $1.00

- Helps beat inflation by acquiring the instruments needed today while avoiding annual price increases

- While staying within their budget, congregations have the opportunity to obtain needed instruments to complete a successful music program or to replace older instruments that are depleting their repair budget

- Church chooses the term of the lease (12-, 24- or 36-month)

Step-by-Step Procedures

- Church representative discuss needs with local music dealer

- The dealer will prepare a lease/purchase proposal stating the exact cost of a 12-, 24- or 36-month lease plan to fit their budget

- Upon receipt and approval of the credit application, a formal lease will be prepared and sent to the church for authorized signatures

- Upon receipt of the signed lease documents and initial payment, the dealer will be notified to deliver the instruments to the church

- After receiving the instruments, church officials sign the acceptance certificate and return it

- The subsequent payments will be due monthly

How to Figure a Payment Amount

How to figure a monthly payment
Selling Price x Factor = Monthly Pmt
Example: $30,000 Grand Piano for 36 Months
Selling Price   Factor   Monthly Pmt
$30,000 x 0.03469 = $1,040.70
Monthly Pmt   # of Pmts   Due w/Lease
$1,040.70 x 3 = $3,122.10

 

Monthly Payment Factors for Churches*
  12 Months 24 Months 36 Months
$3,000 -$10,000 0.09033 0.04919 0.03562
$10,000 -$20,000 0.08993 0.04875 0.03515
$20,000 -$50,000 0.08954 0.04832 0.03469
$50,000 -$100,000 0.08914 0.04789 0.03424
$100,000 + Call Call Call

Payments and Security Deposits

12 Month Lease - First Payment Only
24 Month Lease - First Payment & 1 Month Security Deposit
36 Month Lease - First Payment & 2 Month Security Deposit
Payments and security deposits are due when the lease is signed. Regular monthly payments will be automatically deducted directly from the church’s operating account.

* Factors are effective March 12, 2002 and may change without notice.