The LG G6 and G7 were great phones when they first came out.
But are they still something that a pawn shop would take in? Can you pawn one of these, or even sell it to a pawn shop anymore?
How 'Pawnable' Is This Item
What Value Does This Item Have
These are unfortunately slightly older LG model cell phones and don’t quite retain their value as well as the Samsung model of the same year. That having been said, there’s still pawn shops that will take them, but not as many as you would expect.
Overall cell phones have a rough history in pawn shops. A lot of them are stolen or have their ESN blacklisted shortly after being pawned. Because of that, some pawn shops won’t deal with cell phones at all.
This gives the older LG G6 and G7 cell phones a “Poor” score in terms of pawnability. Newer cell phones might stand a better chance, but these older models just have a tough time.
On top of it, demand for older flagship phones just isn’t what it use to be and because of that the “Value” score for these phones comes in at a “Very Poor.” You are very unlikely to get what you think you should out of them at most pawn shops.
This is in part due to the fact that a pawn shop has to look at your phone as if it won’t be eligible to reaction after you pawn it. It’s just the nature of dealing with cell phones in a pawn shop.
What To Bring With You:
If possible you will certainly want to bring the LG wall outlet and power cord. They are much better than the after market parts that you can buy on Amazon or eBay and may do a little something for you when negotiating a price with the pawn shop for your LG smart phone.
Percentage Of Pawn Shops That Accept This Item 20%
Percentage Of Pawn Shops That Consider This Item Desirable 1%
Average Redemption Rate For This Type Of Item 30%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 30%
Because of the likelihood of cell phones either being stolen or having a bad ESN shortly after being pawned, only about 20% of pawn shops will still deal with these older models. Of that 20%, only 1% of them think of these older smart phones as desirable, and that’s assuming that the phone is in excellent condition with no significant marks or scratches.
The average redemption ratio for these older phones comes in at just 30%, which is far below the national average for merchandise pawned at a pawn shop.
About 10% of households still have an older LG model smart phone that they can pawn, and most choose to sell it to the pawn shop when they take it in as they no longer need it.
What Are Some Advantages To Pawning This Type Of Item
- You likely don’t still use your old LG G6 or G7, so if you find a pawn shop that will take it, you are generating money out of something that you will no longer need or miss,
What Are Some Drawbacks To Pawning This Type Of Item
- It may be hard to find a pawn shop that will accept a cell phone this age.
- You likely won’t get what you are expecting out of it from a pawn shop if and when you take it in.
Pawning or Selling Your LG G6 or G7 Smart Phone
It’s not too often I say this, but this is something that you are probably better off selling on the Facebook Marketplace or Craigslist if you aren’t going to use these phones again in the future. You are just more likely to get a better value out of it there than you will at a pawn shop.
If you do take it to a pawn shop, try to do what you can to clean it up a little bit first.
If your phone has any significant marks, scratches, or cracks then you should expect a very low offer and repairing that kind of damage can get very expensive and quickly. The pawn shop will definitely count that against you when considering what to loan you or offer you for your phone.
Wordpress junkie, music lover, and consumer of all things pizza-oriented. I’ve run pawn shops and check cashing operations for years. I developed the most successful digital marketing marketing strategy for pawn shops known to date, and flip items on eBay for fun.