Some people are quite familiar when it comes to dealing with pawnbrokers and pawnshops, but some others don’t even know that something such as pawn loan even exists. Well, you feel comfortable with those whom you can trust when it comes to goods and money. Moreover, trust comes with the genuine and legal business, and it becomes easy to trust such a business with what they say and promise, as you can be sure that they will keep their word.
These days, you can’t easily trust anyone, especially when you’re just getting a fraction of your precious belonging’s value when leaving it with the pawnbroker. Actually, pawnshops aren’t an intimidating place, which media and people make out to be. If you have heard about the popular TV show titled “Pawn Stars Australia”, you’ll know that pawnshop is an option to approach as long as you pay attention to details.
There are several instances when you would want to avail quick cash loan including:
- Paying off your utility bills and manage your house due to your sudden job loss.
- Paying off for your vehicle repairs that isn’t covered by the vehicle’s insurance policy.
- Paying for your medical treatment not covered under your medical insurance policy.
- You may need immediate cash for dealing with any other similar life situation.
Find out the trustworthiness of the pawn store
When you want to avail a fast cash pawn loan or sell your used goods at a pawnshop, it’s always recommended to know whom you’re dealing with. You can ask your family members, friends and colleagues at work if they have heard about the pawnbroker you’re interested in. Alternatively, you can Google the name of the pawn store and read online reviews. Normally, people with both positive and negative experience will go online and post about their experiences, which will give you a fair idea about the pawnshop so that you can decide whether you want to go ahead with the pawnshop or search for another one.
Speak to the proprietor or manager
Generally, it’s good to have a word with the proprietor or manager who exactly knows what they are doing and you’ll know what type of business they’re running. Ask everything that you want to know such as:
- How does the pawn loan work?
- How long they have been running the business.
- What are the interest rates, late fees etc?
- Do they provide an extension for the pawn loan?
- What shall happen to your pawned item in the event wherein you fail to repay your pawn loan on time?
- Are their customers satisfied?
Bear in mind that these answers can differ from one pawn store to another.
Is your item(s) safe @ pawn store?
Knowing your item will be in a safe custody at a pawnshop gives you not just peace of mind but it also builds trust. Therefore, it’s imperative to find out if the pawnbroker’s location has appropriate insurance in place, how will the insurance benefit you and your pawned item; are they having 24X7 monitored security systems in place, what’s in store if at all the pawned item(s) get damaged or lost when in pawnbroker’s custody. Well, these things might not take place, but it’s good to know that your item(s) are shielded and covered when it’s in the custody of the pawn store.
How a pawnshop evaluates your item’s value?
You need to do your research and find out what a particular item costs before you enter a pawnshop to get your item evaluated for taking out a pawn loan. Well, bear in mind that you will not be receiving the full value of the item but just a fraction of it. Different items are assessed differently and so some items may take more time to get evaluated while others will be done rather quickly. For instance, your Casio or Yamaha (musical) keyboard instrument may take less time compared to your gold jewellery piece. Remember, you’ll get more cash for your gold at pawnshop when you sell your gold jewellery including broken or damaged gold than what you get on pawning it.
The Bottom Line
Just as you can sell your second-hand goods of value to the pawnbroker, in the same way, you can also buy second hand goods from pawnshop at cheap prices. A pawnshop’s collection is massive and you’ll get all types of items including electronics, musical instruments, gold jewellery, garden tools and equipment, antiques and vintage items of value.
Also, Read more about 4 Top Reasons for Using Pawn Services
