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Saturday, June 11, 2011

Pawning Step By Step

To pawn something is to get a temporary cash loan on something of value that you own. Like a gold ring, newer electronics, tools, musical instruments etc...pawning means that you want to come back for your item as soon as you can. Pawn shops are confidential, no one will know you went there for a loan.

Fist step is to call the pawnshop that you plan to go to.

ASK them if they ACCEPT the item you are trying to pawn.

***NOTE: Pawn shops will not quote you unless they see the item first.

Then go to the shop tell them how much money you need.
they will do research and tell you if they can loan you the amount you asked for.

IF they can't give you what you asked for they will just offer you what they can do. If you accept the amount
then they will type up a pawn ticket (aka claim slip) with the description of the item and all the fees lined up on your receipt.

There are fees when you pawn make sure you read & agree to the contract before you sign it. Normal fees include interest, ticket writing fees, lost pawn ticket fees and storage fees for larger items. These fees are set & regulated by the state and vary. Make sure you keep your pawn ticket when you pawn keep it in a safe place.

In California you have 4-6 months depending on the shop to come back for your item.

Now let's say the due date comes around and you don't have the full amount to pick up your item, you can buy more's called paying your finance charge or interest this will renew your loan for another cycle..ask your specific pawn shop for details.

Buying at a Pawn Shop

Buying at a pawn shop is a great way to get items you want at a good discount.
Usually pawn shops will give you discounts on everything they are selling...just make an offer or ask for a discount, but be nice...don't be rude or offensive about the pricing...Most pawn shops offer layaway!
Negotiate price before you tell them how you plan to pay, but of course cash is KING!

Friday, June 10, 2011

Pawn shops don't really want your stuff...

We pawn brokers have a bad reputation..but truth be told we are not all equal! There are some rotten pawn brokers out there just like there is rotten doctors, lawyers, teachers etc...but it has nothing to do with being a pawn broker and all to do with being a scumbag! Pawn shops do not want to keep your stuff..We don't want your stuff. We want you to come back for it as soon as you can and pay us back the money you borrowed plus our fees (which are different depending where you live).Why else would we give you only a small loan on it right? If we wanted to keep it we would give you a large loan so that you wouldn't be able to repay it (honest truth).