Showing posts with label Pawn. Show all posts
Showing posts with label Pawn. Show all posts
Pawn Shop Goes Upscale: Is This a Good Way to Score Extra Cash?
But the bank wouldn’t grant the loan he expected, so Dr. Hammond moved on to plan B: selling family jewels to the pawn shop for $40,000.
Though the words “pawn shop” tend to evoke thoughts of “Cash 4 Gold,” online pawn shops have taken the strongest part of the business model (fast cash in exchange for your stuff), and revamped it for a higher-end customer. With banks getting loan-shy post-recession, these virtual shops offered consumers another source of funding—which they could procure from their jewelry box or favorite curio drawer.
How to Deal With a Pawn Shop
A pawnshop can be a good place to get a few extra dollars to pay a bill, buy a gift, or maybe just put some gas in your car. These steps will explain what happens in a pawn shop, and how to make it work for you.
1. Decide on the item you want to pawn, and the amount of money you are looking to get out of it. Tools, electronics, guns, and jewelry are all common items. They do need to be in good, safe, working condition however, or you won't get very much money for them, or none at all. If you don't re-pay the loan (or "pawn") for an item, the pawn shop will put it in their store to try and sell it for more money than they loaned you. This is one way they make money. They can't sell broken or nonworking items, so it doesn't pay for them to loan you money on them. For this same reason, they can't give you what the item is truly worth either, because if they had to sell it they wouldn't make any money.
Going To Pawn It or Sell It? - Whats the Difference
What does that mean to “pawn” an item? Millions of people are addicted to Hardcore Pawn and Pawn Stars, the latest TV shows featuring pawn shops. Most people do not truly understand the difference between “pawning and selling” in a pawn shop. It is quite simple. If you want your item back, you are “pawning” it. If you do not want it back, you are “selling” it.
All pricing in a pawnshop is based on how much and how quickly the pawnbroker can resell your item. If you know the original retail price or the appraised value of your item it can be helpful to the broker. However, this price information you have is not indicative of what you will receive in exchange for your item. What a broker takes into consideration is the length of time they may have to hold your item before it sells. If the pawn shop believes they can sell your item quickly, more likely than not, you will receive a higher price for your item, than if they believe it will take longer to sell.
If you choose to “pawn” your item, instead of “sell" it, the value of your item is determined in much the same way as if you were selling it. Instead of getting a purchase price for your item, the pawnbroker will offer you a loan amount. This amount will be a percentage of the current market value of your item. You could also call a “pawn loan” a short term, collateral loan.
Great Pawn Shop Bargains - Visit Calaveras Coin & Pawn
If you love finding great bargains, a local pawn shop may be the best source. Buy new and used merchandise at discounted rates. You’ll find incredible deals on electronics, jewelry, instruments, power tools and more!
Also, get quick cash by selling your old merchandise or by using your valuables as collateral on a small loan. Once you repay your loan and interest, your collateral will be returned.
However, those who borrow money from a local pawn shop should be aware that if the loan is not repaid by the specified time, the pawnbroker has the right to keep the collateral.
Come visit us at Calaveras Coin & Pawn
- Low Interest Rates (Determined by the State of California)
- Fair Loans on you Valuables
- Cash On The Spot
- 120 Days to Payback Loan
- Option to Re-write Loans at end of term (interest must be paid off)
Call (209)677-PAWN
What Can Be Pawned For Cash? Pawn in 3 Easy Steps!
HOW DOES IT WORK?
- Bring In Your Item of Value
- Get Cash In Hand Today
- Don't Pay Back for 4 Months
Bringing Business To Downtown Angels Camp!
Calaveras Coin & Pawn is Writing Pawn Loans
Together the merchants of the City of Angels will continue to bring life to downtown Angels Camp and share with the world its historic charm, wonderful products/ services and amazing people! We continue to wish everyone in this area success and prosperity and thank our loyal patrons for their continued support over two decades and welcome the new ones.
Come vist us at www.calaverascoinandpawn.com
Come vist us at www.calaverascoinandpawn.com
PAWN TIPS - From Calaveras Coin & Pawn
- Keep in mind: pawnshops are often a great place to pick up bargains on unredeemed goods. If you don't mind used jewelry, video games and movies, it is hard to beat the prices at pawnshops.
- Establish a relationship with a pawnbroker. If he knows you take care of your property, pick up your loans on time, and are generally in a good mood, he may be more generous with his loans. If you take him broken, dirty items, fake jewelry, and try to hurry him, he will not see you as a valuable customer. The pawnbroker has to test everything that comes into his shop. Pawnshops are not repair shops and broken items have little or no value.
- Even if you default on something, it is still OK to do business with that pawnbroker.
- Pawnbrokers have to consider that you may not come back to get the item. You may leave town, win the lottery, have other obligations and will default (don't pay on time)on the item. This uncertainty forces him to hold down the amount he loans on items in the event he has to resell it to recoup his investment. Most people return to redeem their pawned items, but if you look around his store, you will see that most of the things he has for sale are things people promised to come back to redeem but failed to do so.
- If you have an unusual item or collectible, it may be helpful to have a manual and maybe something that would indicate its value such as a certificate of authenticity or original invoice.
- Sometimes if you are unable to redeem the item by the due date, you may be able to extend the loan by paying the interest.
Things We BUY & Give PAWN Loans on Everyday!
Silver Items, Scrap Silver, Gold Coins & Bars, Gold Nuggets, Platinum Jewelry, Silver Tea Set, Assorted Jewelry, Gold Jewelry Sliver Coins, Gold Watches, Dental Gold and Silver Flatware!
(209)677-PAWN
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