Do Pawn Shops Pawn or Buy The LG V40 or V50?

The LG v40 and V50 were wildly popular cell phones when they came out and people really loved them.


But does that make them something that pawn shops would take in for a loan or offer to buy outright?

How 'Pawnable' Is This Item

What Value Does This Item Have

Cell phones are a tough sell for most pawn shops. They very often turn out to be stolen or have their ESN blocked. Because of that not a lot of pawn shops really like to work with them if they can avoid it.

Because of that, they only rank a “Fair” rating in our pawnability scale.

Additionally, because cell phones are a really desirable item for most pawn shops, the LG V40 and V50 only pull down a “Poor” rating on our scale from most pawn shops.

When a pawn shop looks at cell phones, they often times can not give you the full “Used” value for you phone because they have to assume that the ESN will be blocked in the near future since so many are.

That means they value your LG V40 or V50 at the “ESN Blocked” or “Blacklisted” value, meaning that you get far less than you might expect for your phone.


What To Bring With You:

With cell phones, it’s always strongly advisable to bring the original wall charger and cord with you as they have more value than the cheap replacements that you will often find on eBay, Amazon, or the corner store.

Statistics:

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 10%
Percentage of Households That Have This Type Of Item 10%
Percentage Of Times This Type Of Item Is Pawned vs Being Sold 30%

Roughly only 20% of households will take this type of phone and of those that do, only 1% of them consider them to be truly desirable. The average redemption ratio for these phones is pretty low at just 10%

Equally, just 10% of households have this type of phone available to make a loan against or sell outright to a pawn shop. Roughly 30% of people choose to pawn this type of phone versus selling it outright to a pawn shop.


What Are Some Advantages To Pawning This Type Of Item

  • If you can find a pawn shop that will accept it, you can still get a decent enough amount of money out of a LG V40 or V50. That should be able to help you cover most small bills that may come up.

What Are Some Drawbacks To Pawning This Type Of Item

  • It can be more difficult to find a pawn shop that will accept cell phones. Typically, if the pawn shop also does cell phone activations with a carrier like Boost or Metro PCS, then there is a better chance that they will have interest in your V40 or V50.

Pawning or Selling Your LG V40 or V50 At A Pawn Shop

About the only thing that we haven’t covered so far is how damage to your cell phone is handled.

If your V40 or V50 has a badly damaged screen (cracks/scratches), rear, side, or corners, then the value that you get for it from a pawn shop will be MUCH lower.

The repair costs on these cell phones can be quite high and because of that, most major pawn shops just can’t afford to pay you much for your phone if it is all busted up.

Also, don’t undersell the importance of having the original accessories with you. They won’t make you rich, but they can go a long way towards helping you get the most amount of money possible out of your V40 or V50 when you take it to a pawn shop.