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What about loaning her the money to buy her own?
It sounds like she's into it. Buy one. What rental companies don't want you to know it that the instruments you're renting are from China and cost less than 1 year's worth of rent. It's a real cash cow for them. In the end, she'll sound better and want to play it more if you buy something nicer now. If she plays it for more than a few years you'll be better off financially too. And it she doesn't you can resell it and get much of your money back (as long as it's still in good condition) so long as you bought something good to begin with.
My soon to be 12 years old daughter has been playing for 6 years and finally sounds good. She is on a 3/4 and will be moving onto a 4/4 any time. She is committed to playing and already signed up for the honors orchestra for middle school and she has private lessons once a week. The rental is 60 a month which comes to $720 a year. Now that she will be on a full size, should we buy her a violin or continue to rent? If buying, do you have any recommendations on a company or price range?