You can obtain a loan by providing a product you own such as jewelry, electronics, tools, etc. as collateral. This type of loan is referred to as a pawn or a pledge whereby you agree to relinquish ownership if you choose to; or if you are unable to make your payments.
Since a pawn loan does not involve credit, the determining factor impacting how much you can loan is the value of the product. As pawnbrokers we utilize numerous resources to assess the current value of the products, as well as our costs to store and eventually sell it.
While many customers are able to pay their loans on time and pick-up their merchandise, it is not uncommon to have others request an extension in the form of a renewal. With a renewal, you pay the interest that has accrued on your loan in full, and a new loan is written. The principal loan amount remains the same, as does the interest rate, but the due date is reset for the full loan term.
While we offer our customers the ability to obtain a pawn loan on their products, we also buy new and used merchandise. The merchandise we buy must have a recognizable market value and it has to provide us with the ability to make a reasonable return. When considering merchandise that is not jewelry we require it be in working condition.
Many people chose to have us buy their merchandise rather than go through the arduous task of applying for a loan from traditional lenders or from paying service charges.
As you walk through our locations you find that we sell many types of products. Our ability to leverage our other locations to find what you are looking for is a great advantage. What’s more our low prices will result in real savings.
Don’t think that you will only find used merchandise in our locations. We often have new still in the original packaging products. On the other hand, if you are ok with buying used merchandise and being frugal you will love shopping with us.
With many of our customers strolling through our shops, its common for them to find merchandise they want but simply can’t purchase right away. Often a deposit of $5 or $10 with regular layaway payments help customers make sure the merchandise will not be sold. Whether its that special piece of jewelry, a cell phone, ipod, notebook computer, tools, etc. our representatives are here to help you take advantage of this payment plan. We will reserve these items for you until you can make final payment and pickup the merchandise. What’s more, our layaway purchase plans are interest free.