Month: May 2017

How to determine pawn shop value!

Introduction If you’re planning on taking your valuables to a pawn shop today to get a quick cash loan, you’re probably wondering how to determine pawn shop value. Pawn shops calculate value in a few different ways depending on the type of item you have to leave as collateral and what you plan on doing with your item. You could either pawn or sell your item. The advantage of a pawn loan is that you get to keep your item for future use. And the advantage of selling to a pawn shop is that you’ll get slightly more than your pawn loan offer and you get cash on the spot in a safe environment, with a receipt. The two most common type of items that people bring to a pawn shop are Jewelry and Electronics   How to determine pawn shop value | Jewelry The pawn shop value of jewelry is calculated by first determining the composition of the metal your jewelry is made of. The item is weighed. And a portion of the item’s wholesale value is offered to you.   The pawn broker will first check to see the percentage of gold within your piece (karat). Your jewelry could range from 10-22kt gold. Each karat is essentially a percentage of gold purity. 10kt is 416-417, in other words, about 41% pure gold. Here is a rough formula:...

Read More

Where can I get a pawn loan?

If you’re looking for a way to borrow money fast, this article breaks down a pawn loan for you quickly. Searching online for pawn shop information can be boring and daunting. If you’re considering the need for a pawn loan I understand there may be no time to wait. This guide quickly breaks down:   What a pawn loan is How a pawn loan works How interest & fees on pawn loans are collected Introduction Pawn loans are short-term collateral loans. When you take an item of value to a pawn shop, they lend you money against its value. Usually 30-50% of the item’s value. A pawn loan consists of three main parts. The principle or loan amount, interest and fees, and the terms of the loan. Essentially a pawn loan is an agreement between you and the pawn broker. The pawn broker’s responsibilities are:   5 Store your item safely until you return for it (if you renew or redeem) 5 Keep your private information safe Customer responsibilities are: Pay back the loan with interest and fees to get the item back. The good thing is pawn loans are not reported to credit bureaus in the event you forfeit your loan. That’s the beauty about a pawn loan. Principle The principle is the amount of money a pawn shop lends you for your valuables. This of course being the motivation...

Read More

Pawn Shop Prices vs. Payday Lenders, Car Title Loans, and High Interest Credit Cards!

Know pawn shop prices instantly! If you’re thinking about pawning something and wondering what pawn shops are open near you, or it’s the first time you’re thinking about pawning something to get some quick cash, you’ve come to the right place. However, there are some important things you should know about pawn shop prices and pawn loans first. Pawn shop prices are good alternatives to borrowing instant cash vs. payday lenders or car-title lenders. It’s usually less expensive. For starters, pawn shop loans have been around since like the beginning of time. No really.. From Kings & Queens of...

Read More

Pawn Shop Loans 2017 – Quick guide & pawn loan quote calculator!

If you are reading this you probably either are associated with the pawn industry or need a local short term cash option. Pawn shop loans have been a great resource for thousands of years and people still seek out fast cash from pawn shops on a regular basis. Pawn shop loans start by having a pawn broker evaluate your item in person.   There are plenty of online guides, but you will still need to have your item evaluated for a pawn loan in person. The best thing to do is use our pawn loan calculator first, then search for a pawn shop location you can trust.   N After your item is evaluated, you’ll be offered a percentage of the item’s value, essentially the loan amount or principle. You’ll have to pay back the pawn loan amount with interest in order to get your item back from the pawn broker. So negotiating a higher amount sometimes can work to your advantage because you’ll end up paying lower interest fees when you return. I would only ask for a higher loan amount if I really needed the money. If you already are contemplating not returning for the item, most pawn shops will buy the item instead. Usually for a little more fast cash.  To complete the Pawn Loan transaction you will need a valid identification in order for...

Read More

Pawn Shop Price Nintendo Switch

If you’ve already bought the Nintendo Switch but you over extended yourself you can always get a pawn loan against it, for a short period of time. If you need cash, Zelda can wait. Since the Nintendo Switch retails new for $299, pawn shops should lend you about $75-$125 for just the console and its original accessories. You can check the pawn shop price of your nintendo switch with our pawn shop price calculator. Pawn shops work by lending you a portion of your item’s value. You get some time go pay back the loan with interest, and you...

Read More