Monday, January 10, 2011

How does a pawn shop work?

Pawnbrokers lend money on items of value ranging from gold and diamond jewelry to musical instruments, electronics, tools, unique collectibles, etc.. These items maintain their value over a reasonable period of time and are easy to store, especially jewelry. The biggest Pro to Pawning an item is simple "CASH on the SPOT." You leave your item and walk out with money for other needs. This is a simple transaction and the customer gets there items back once the loan plus interest is paid. So if I come in and need $100.00 until pay day I could bring in an item, tell the pawnbroker how much I need and then see if the pawnbroker could complete the loan for me. I would then have 60 days to pick up the item. However if I could not repay the loan then I could simply come in each month and pay the interest. My item would be held securely in a vault until I could pay for it in full. 
Simple, safe, easy, quick, and confidential.

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