Cash Loans From Pawn Shops

When it comes to getting cash loans from pawn shops there really isn’t much to the process.

It’s actually something that’s very easy for just about anyone to do, in any state, at any point in time.

All you really have to do is take something of value into a pawn shop, present it to them, and see what they offer you for it.

That having been said, there are some things that you can do to make sure that you get the most money possible.

Additionally, you should be sure that you know all of the rules and regulations beforehand so that you know exactly what you’re getting into when you get a cash loan at a pawn shop.

But before we get into anything too serious, it’s important to lay a little bit of groundwork down for how pawn shops operate in what they are looking at when they are considering making you a cash loan for your items.

When you take something into a pawn shop they are going to loan you cash for it on the spot.

Unfortunately, not everyone that makes a loan at a pawn shop comes back to get their items. In this case, the pawn shop has to turn around and sell those items to get their money back.

Because of that, when you take something into a pawn shop to make a cash loan, they are going to be looking at your items as if they would have to possibly sell them at some point in time.

Now while I understand that you almost certainly want to get your items back in the future, it’s just the nature of the business that pawn shops must look at your items in the sense of their potential resale value, and how easy it would be to resell them should they have to.

Understanding this will give you a certain advantage when you’re dealing with the pawn shop because you will know exactly what they are looking at when they evaluate your items.

Cash Loans From Pawn Shops
Before you head down to your local pawn shop and attempt to get a loan on your valuables, there are a few things you will want to keep in mind. These simple steps will insure that you get the most out of a cash loan from a pawn shop.

How To Get The Most Money For Your Items At A Pawn Shop When You’re Getting A Cash Loan

When you’re dealing with a pawn shop in pursuit of getting a cash loan against your valuables, it will always be in your best favor to make sure that you present your valuables in the best possible light.

What that means is, that you want your items to look as new as possible. You want to remove any heavy debris, marks and scratches, stickers or decals that you have put on it, or anything that wasn’t on the item when you purchased it new.

The thinking here is that it will be much easier for a pawn shop to sell something that looks almost new. If you can’t get your item looking almost new, then you want to make it look at least as new as possible.

If something is heavily beat up, marked up, or otherwise damaged in some way, it will be difficult for a pawn shop to turn around and later resell the item should they have to. Because of that, it will negatively affect the value that a pawn shop offers you on your items when you are attempting to make a cash loan.

Additionally, you’ll want to make sure that you have all the parts and pieces that originally went with your item.

The reason for this is, that it is much more difficult to sell something that is missing certain parts and pieces that it may need to do all of its jobs and functions properly.

Above and beyond that, if you have something that is unique such as jewelry, you’ll want to have some kind of appraisal or documentation with you that describes exactly what the item is.

This will make it much easier for the pawnbroker to determine what they can loan you against the item because they will have something in writing telling them exactly what is in the item, or what the item is made out of.

This is particularly true with collectibles, such as art, or autographed items, because it gives the pawn shop some sense of security in knowing that the items are genuine and have true collectible value.

Know The Rules Of Cash Loans From Pawn Shops Upfront

When you’re going to a pawn shop to get a cash loan, one of the first things that you’ll want to do is ask them what all of the rules and regulations are regarding that cash loan.

For instance, one of the first things that you want to determine from them is what are the interest rates and fees associated with the loan.

For instance, some pawn shops will charge an origination fee, setup fee, or other sort of ticket fee in connection to the loan. This is often a one-time charge and is something that is regulated by state law.

In other states, pawn shops may charge a monthly storage fee. This is also something that is going to be regulated by state law and it’s important for you to know what these fees are upfront so that you know exactly how much the loan is costing you.

Lastly, you want to know what the interest rate of the loan is. This is the percentage of interest that a pawn shop is going to charge you on a monthly basis. How much this adds up to being will often be completely dependent on the amount that you borrow from the pawn shop to begin with.

Above and beyond the cost of a loan, you will also want to know what the legal retention is for a pawn shop in your state to hold out your items before they can turn around and sell them.

Knowing this is important to you assuming that you want to go back to the pawn shop at a later point in time and get your items back.

You will want to know things such as how often payments are due, whether a pawn shop can forfeit an item, and if there are any other legal time frames associated with the loan that you should be aware of.

How To Get The Best Cash Loan Possible From A Pawn Shop

Pawn shops are no different than other businesses in that you can comparison shop them for the best deal possible.

What you will want to do is go to and search the phrase, ‘local pawn shops’, or ‘pawn shops in my area.’

What you will get from Google is a list of pawn shops near you, along with their addresses and phone numbers.

You will want to take your items to these pawn shops, one by one, and see who offers you the most money and the best terms for a loan on them.

By doing this you will be able to get the most amount of money possible out of your items as well as the best repayment terms.

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.