Learning how to pawn like a pro isn’t that difficult…
While there is an argument to be made for not getting so good at pawning that you can do it like a pro – following these three steps will help you get through your first loan with ease.
So here we go… this are the three basic things you need to know in order to successfully make a pawn loan at virtually any pawn shop in your local area.
What To Pawn
Whatever it is that you want to make a loan on, make sure that it is as clean as possible and in good repair.
You would be surprised how many people bring in their dirty, broken or otherwise busted up merchandise and fail to understand why they can’t barrow a lot of money against it.
If it’s jewelry or a tool – clean it before you take it in.
Nothing turns a pawnbroker off more than having to deal with crusted up earrings or an oil soaked tool. Spending an extra 5 minutes cleaning up whatever you may be taking into the pawn shop can net your 20-50% more on a loan or sale than if you had left it dirty and disgusting.
When To Pawn
Make sure that you show up to the pawn shop at least 30 minutes before they close.
If your item needs inspection or a more involved evaluation – trying to ‘rush’ the pawnbroker through the process before close means that they will error on the side of caution and loan you less than they might if they were afforded adequate time to evaluate your merchandise.
Remember the golden rule: Pawn shop have to buy or loan less on an item than they can sell it for. If your item is unknown, risky, or very valuable (diamonds for instance) – then give the pawn employees all of the time they need to really evaluate your merchandise correctly.
*TIP* – Pawning in the morning hours are typically better than the afternoon or evening. Some TV shows portray pawn shops as occasionally combative environments and that can be true at times.
Because of that, you should go there in the morning, before the pawnbroker may have already gotten into an argument with several customers before you. Remember, they are people as well and their ‘attitude’ or ‘mood’ can affect how much they are willing to loan on your item.
How To Pawn
Have at least two forms of ID and make sure at least one of them is a government issued photo ID (driver’s license works well).
Nothing will annoy a pawnbroker more than having spent all of the time evaluating your merchandise just to find out that you didn’t come prepared.
I’ve sat down and watched some pawnbrokers loan less on items just because they were under the impression that the customer they were working with wouldn’t repay the loan.
You want to give the person you are borrowing from every reason to feel that you are a responsible, timely individual fully capable of repaying the loan. Being completely prepared before coming to the pawn shop is an excellent way to give them that impression.
Follow Those 3 Rules And You’ll Be All Set
The rules are simple:
- Make sure your items are clean and in good working condition.
- Show up well before close and in the morning if at all possible.
- Come prepared.
Good luck pawning!
The Head Nerd