As a musician who has bought thousands and thousands of dollars worth of junk, I can tell you that it's not worth it. If I had it to do over again, I would have saved my money and bought good instruments from the beginning. You may think I'm crazy to suggest that you buy a professional level instrument at this point, but if you think about it you could probably pay it off in a summer by mowing lawns or filling cones at the ice cream stand.
Really great instruments seem out of reach way up on the rack at the guitar store, with their sparkling hardware and price tag to match. But why must they be inaccessible to you?
If you're serious about music, consider adopting the "buy it once" philosophy. This is how it works: find out what instrument you want to play, whether it's guitar, bass or drums (or other), and start shopping as soon as you feel confident in your playing. Until that time, resist the urge to buy your very own spanking new hunk of junk and keep on suffering through the months of renting a less-than-perfect instrument from the place where you take lessons. Or if you're a drummer, buy the key pieces first, resisting the urge to have a 15 piece set of garbage cans.
For guitarists/bassists: rent and save. And save. And save. Then when you can buy your dream instrument (most costing $700 to $1500), BUY IT!!
For drummers: all you need is a snare, hat, kick drum and a couple of cymbals. If you're a beginner, snare fundamentals are key anyway, so why not get your chops on a scaled down version of the real thing? I recommend Tama drums. I'm only an amateur drummer myself, but all the drummers I know swear by them. Go for the high-end models. Every manufacturer offers cheap stuff and professional stuff (or at least so-called professional). Settle for nothing less than the best. I'm dead serious.
Everybody wants to be a rock star, and guitar stores love to sell you "Squier Strat Packs" and "Squier Bass Packs" selling you on the idea that you can pick up box today for $150 and pretend you are stepping out on stage in front of 50, 000 screaming fans.
In reality, you're wasting your time and money chasing a dream. You have bit the bait and started down the road of buying and buying and buying and buying until one day, when you're 20 and sick and tired of all the problems with your cheap gear, you finally step up and buy a real instrument. Over time you will discover that you have spent $5 or $6 grand anyway chasing this rockstar fantasy, and your guitar store is laughing it's greedy head off (and why shouldn't they, you've fallen for it.)
So instead of spending multi thousands of dollars as you evolve as a musician, pay the price up front. Wait until you know what you like and what your goals are, then start saving until you can actually buy the real instruments, exactly like your favorite rock stars play. Don't settle for less. Plenty of instruments look like the real thing, but play like sh*t, and sound even worse.
Buy it once.