The idea of borrowing money from a pawn shop may seem a little intimidating. However, the process is very simple and straightforward. In fact, it really couldn’t be easier. If you’re like most people, you have lots of items laying around your home that you can pawn.
Look around your home and see what you have to use for your pawn loan. Jewelry, tools, electronics, musical instruments, firearms and machinery are just some of the items you might decide to use for your pawn loan. Most pawn shops are willing to consider almost anything providing that it is of value.
Once you’ve found an item or two that are of value, you can stop by your local pawn shop. Your pawn broker will provide you with a quick and professional loan appraisal based on the value of your item(s). If you approve the appraisal, you will walk out with cash in hand. Borrowing money from a pawn shop is quick, easy and stress free.
You can free up cash for a short period of time with a pawn loan. Once you receive your cash, you typically have 30 days from that date to return and pay off your loan in order to reclaim your pawned item(s). However, if you decide not to reclaim the item(s) you pawned, you can simply allow your loan to expire. As a result, you will forfeit your item(s) to the pawn shop.
The good part about it is that allowing a loan to expire has no negative consequences. You will still be on good terms with the pawn shop and can come in any time you need to for another pawn loan, no questions asked. This makes borrowing money from a pawn shop an ideal option for many people who don’t want to deal with the hassle of creditors.
In some cases, people want to reclaim their pawned items, but are unable to pay off their loan in the 30 day period of time. At Hat City Pawn, we understand that sometimes life can be unexpected. Expenses come up and economic hardships are a reality of life. Instead of having to forfeit your items, you can choose to extend your loan for a monthly fee. Extensions allow people to borrow money from a pawn shop without the worry that they will lose their items if they are unable to pay their loans off on time.
So as you can see, borrowing money from a pawn shop is a great way to free up cash when you need it. If you’re still unsure, stop by your local pawn shop and chat with your local pawnbroker. You can ask all the questions you want to help put your mind at ease.