What is a pawn shop?
Your local pawn shop is a place you can go to either sell or pawn items you own such as jewelry, tools, guns and electronics and receive cash in return.
What is the difference between selling your property to a pawn shop and getting a pawn for your property from a pawn shop?
When you sell your property to a pawn shop, it is just that, you no longer own the item and you will receive cash for a price mutually agreed upon to complete the transaction.
When you pawn an item at a pawn shop you are getting a loan on the value of your property. As long as you keep paying the interest on the loan, you still own the item. You will receive the cash and we will keep your property as collateral until you pay the loan off.
How do you come to determine the value of my property?
There are a number of factors that come into play when figuring out how much money your property is worth to a pawn shop. You must keep in mind that there are several different values on any piece of property, there is retail value, wholesale value, resell value, scrap value and in our case pawn value. These prices are all different. For a pawn shop the things that affect our value of your property are things like condition of the item, current market prices, retail prices, wholesale prices, consumer buying habits, as well as how long items similar to yours sit on our shelves. Depending on the item there may be a little room to negotiate a better price for you, but for the most part we will be held to the factors mentioned previously.
If I get a pawn loan on my property, what are the specifics of the loan?
Pawn loans are basically 30 day loans with a 60-day grace period. Once you sign the pawn ticket, you owe the interest and your next payment is due in 30 calendar days. The interest on the loan is 10% every month. For instance if you get a loan for $50 on January 1, you will need to pay $5 in interest before January 31st in order to keep the loan current. If you run into a period of time where you cannot afford to pay the interest for 90 days, your property is then forfeited to us and you no longer owe us the money you received for the loan. Keep in mind that it does not have to be 90 days in a row, if you have the loan for a year and miss any three monthly payments, your property is still forfeited. So you will need to keep a close eye on your loan if you start to miss payments. Please call and ask if you have ANY questions at all about your loan. We do not want you to lose your property, but it is not the stores responsibility to contact you when you are about to lose your property.
How old do I have to be in order to do business at a pawn shop?
If you are going to pawn or sell an item to a pawn shop, that is not a firearm, you must be at least 18. If you simply want to buy something that is not firearm or weapon related there is no age limitation.
What are the regulations concerning firearms at a pawn shop?
To pawn, sell or purchase a handgun you must be 21. To pawn, sell, or purchase a rifle or shotgun you must be 18. You also must have a valid state I.D. or driver’s license with current address and NOT expired. When purchasing a firearm you will need to fill out FFL paperwork and we will have to call in your background check. Even if you qualify to purchase a firearm you may still be required to wait 3 business days to pick up your firearm, although most of the time purchasers are able to walk out of the store with their firearm. These same rules apply if you are paying off a pawn and picking up your firearm also. In addition, specifically related to the pawning a firearm, there is no background check to pawn it, BUT, if you are unsure if you qualify to purchase one, you probably should not pawn one. Due to the fact that if you pawn it and then come back to pay off the loan and pick up your firearm, and then the background check declines you, you will not be able to pick up the gun.
What kind of merchandise do you accept?
We accept almost all merchandise below
DVDs/newer video games (must be in original case and entire lot must be accompanied by a complete listing of all titles you wish to sell or pawn)
Silver Coins & Bars
Some of the things that we specifically do not accept:
Some of the things we do NOT except are stolen items and items with altered or missing serial #’s. If you pawn or sell something that we find out later was a stolen item we will prosecute to the fullest extent of the law, regardless if local law enforcement follows through with their prosecution or not. Find below a general listing of other products we do not accept:
Electronics without a charger
Electronics over 5 years old
Old Tube-Style TV’s (generally, anything that is not a flat-screen we will not accept)
Sports Cards 1974 and newer
Car wheels without tires attached (tires must be in good condition)