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 time.it's called paying your finance charge or interest this will renew your loan for another cycle..ask your specific pawn shop for details.
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