Your Guide in Making a Loan at a Pawn shop

What is a Pawn shop?

Pawn shopIt is a place where people go to fulfill their immediate financial need, such a paying the rent and the utility bills. Those who are faced with emergency situations can also make a loan at pawn stores to get the money they badly needed. These people should bring collaterals, in form of valuable items, to make a loan.

Jewelries, watches, and diamonds are the common collaterals used. We accept all three items whether they are new, old, or even broken. You can also pawn gold and silver coins to us. Some pawn stores also accept musical instruments and firearms.

What is the difference between loaning from a bank and from a Pawn shop?

Loaning from pawn stores is only short-term. At Majorpawn.com, the maximum period is four months. If you are not able to pay the loan after the given time, you can no longer redeem your item back. Unlike with banks, pawn stores do not require plenty of documents when you are to make a loan. Pawn stores provide quick, but only small loans.

 

There is also a similarity between the two. Both financial institutions are governed by federal laws and regulations. There is a different law for every state. We follow the regulations set for New York City. We also provide daily reports of our transactions to authorities as required by the law.

Is pawning safe?

Pawning is definitely safe. As mentioned, pawn stores like us follow certain laws. You can be sure that your belonging is safe in our hands. You can get it back anytime you please to.

Some also think that pawn stores charge a lot of interests and extra expenses. It is true that we charge an interest, but the rate is also governed by the state’s law. We do not charge higher than what is required. In fact, we only charged a 3% interest per month. This interest is for our storing expenses and other utilities.

Who can make a pawn?

At our pawn stores, anyone who is 18 years old and above can make a loan. The process is made easy for everyone so if you have an item that you no longer need, feel free to go to our stores to pawn it.

What do you need to loan in a Pawn shop?

Again, you will need a valuable item as collateral. Documents that can prove that you own the item will also make the transaction quick and easy. We also request you to bring a valid identification card. Do understand that we need to guarantee that the item you are pawning is not stolen.

Who are the pawnbrokers?

The pawnbrokers are the people who will attend to you when you are pawning. Our pawnbrokers are friendly and knowledgeable. They are to inspect your item to determine their value. They are expert about the market fluctuations, and they use their knowledge to forecast the selling price of your item.

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Do not expect us to give you the actual retail price of the collateral. We can only offer half its retail price. Our pawnbrokers also consider the condition of your item in naming the amount you may loan.
If you accept our offer, we will give your needed cash right away. We will also give you a pawn ticket.

What is a pawn ticket?

Our pawn ticket consists of a pledge number, our terms and conditions, your due date, and the interest that we charge you. Our contact information is also cited in the ticket. We request our customers to call us before they pay their loan so that we could prepare the collateral before pick-up.

Most importantly, you will have to present your pawn ticket to be able to reclaim your item.

A Step-by-step Process when loaning at a Pawn shop

1. Go to the nearest Major Pawn. You may check our address at our website.
2. Present your item to our trustworthy pawnbrokers, together with an identification card and other documents.
3. Accept or decline the offer of the pawnbroker.
If you accept:
4. Read or listen to our terms and conditions and sign the contract.
5. Get your loan and your pawn ticket.

Paying Conditions

When you are ready to pay your loan and get your collateral, you have to refer to your pawn ticket to determine the total amount you need to pay. Remember that you are to pay the combined amounts of the loan and the interest. You also have to bring an ID when reclaiming your item.

In case you do not have any resources yet to pay your item and your due date is approaching, you can extend it by paying only the interest. We will send you an email 30 days before your due date to remind you about it.

What if you are not able to pay any amount? You can no longer claim your item. It will then belong to us. We will have the rights to resell your item to make up for the loan that we granted you.

If you  need instant cash, so pawn shop is one of the best option for you. Majorpawn.com is also providing you instant cash loan, for more details contact to us.

Tips in Selling and Pawning at cash4 jewelry now

cash-for-goldCash4 jewelry now will either supply your needed money or make you realize that your jewelry is too precious to be sold. We are committed to giving our clients honest appraisals. Our talented and skilled staff will evaluate your presented jewelry according to its weight, property, aesthetic value, and marketability. We will understand if upon knowing the value of an heirloom, you will decide to no longer sell it and keep it to yourself.

However, be warned that not all pawn shop, pawnbrokers, and appraisers have integrity. Others will make you believe that your jewelry has lost its value through time when it did really not. In this industry, you have to be wise. To help you prevent making mistakes, we listed some tips that you can apply whenever you need an extra money to go by.

1. Selling your gold jewelries at cash for gold parties is not a good option

It sure is exciting to go to cash for gold parties. There are a lot of clients there with their gold jewelries, willing to trade them for cash. It is tempting to sell your own jewelry when you see the buyers handling the sellers their dollars. We advise you to hold onto your jewelry tightly, and find other place where you can get a better deal like at cash4 jewelry now.

The buyers on those parties only pay for the gold property of your jewelry. For example, you have a gold ring with a diamond in the center. Buyers at cash for gold parties will not give the diamond any value, no matter how big it is. Also, some of those buyers trick their customers about the weight of the jewelry. Their scale uses pennyweight but they will make you believe that the unit is gram. Take note that 1 pennyweight is equal to 1.555 grams. Additionally, the buyers have no permanent location so there is a little chance that you will get to find them if in case you have a concern regarding your transactions.

2. Keep a watchful eye when making a transaction

During the first years of pawning industry, some pawnbrokers are known to trick their clients by changing their items. It started a chaos then that leads the authority to close some pawnshops. Licensing also began for the security of the customers.
Up to now, sneaky pawnbrokers exist. For example, you give them a Rolex watch to examine; with their quick hands, they can change your authentic item to a fake one. To prevent this from happening to you, choose only the licensed and accredited pawnshops.

cash4 jewelry now is a guaranteed shop. We have been in the industry for many years, and we have made loyal happy customers.

3. Do not sell your jewelry if you plan to get it back

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At our shop, you can either sell or pawn your necklaces, earring, gold pins and brooches, bracelets, watches, rings, and diamonds. If you sell it, we will give you an amount base from its condition. We also consider the retail price of your item; but, do not expect that we can give you an amount close to it. You can always negotiate to make the transaction favorable for both parties.

Now, if you feel like you cannot let go of your item but you desperately need cash, think of pawning it. For this option, we will give you a pawn ticket. It consists your due date, the date that states until when you are allowed to retrieve your jewelry. It will also consist our terms and conditions. You are to keep this ticket, and present it when you are ready to get your precious possession back.

4. Do not sell or pawn at cash4 jewelry now if you stole the jewelry

Pawnshops follow federal laws for financial institutions. We make a report on a regular basis of the items sold and pawned to us. We give all the details about the items. This report helps local police departments to track if a stolen item was sold or pawned, as well as who stole it.

The law permits us to gather our customers’ personal information. We always ask our customers drivers license or any government-issues ID. This aids in tracking thieves. We will know if the jewelry is not yours.

5. Before agreeing, fully understand the terms and conditions in pawning

Cash4 jewelry now also follows state laws. The interests we add on your pawns are based from these laws. We are also allowed to add miscellaneous fee, which usually includes maintenance and storage expenses. All these terms will be reiterated to you upon deciding to pawn your jewelry to us.

If you are looking for a pawn shop so cash4jewelrynow.com is one of the best online shops to sell you pawn items.