About High End Pawn Loans
High End Pawn Loans are larger than normal pawn loans. They are typically from $1,500 to $10,000 and are designed for small business to increase cash flow, meet payroll obligations, etc. Since the High End Pawn Loans are larger loans, the fees are much lower. Refer to the paragraph below to understand how the fees work for High End Pawn Loans.
High End Pawn Loans Specifics
Here's how it works, a twenty percent fee per month is charged on the first $1500 loaned. After that any amount loaned over $1500 is charged a three percent fee per month. Once the amount loaned reaches $7500 the fee percentage is frozen at seven percent.
Refer to Table 1 for examples. The high end pawn loan term is 90 days and can be continued after the term as long as the minimum pawn fee is paid on a monthly basis every month thereafter. There is no limit as to how many months the high end pawn loan can be rolled over. The customer should take note however, that the longer the pawn loan continues the more costly it becomes.
Customers can also pay their loan off early with no penalty charges. If a customer decides they only need one month instead of three months Hat City Pawn will only charge that customer a fee for one month.
Types of Collateral
- Luxury Cars
- Heavy Machinery
- Real Estate Properties
- Gold and Silver Coinage
|Loan Amount||Term||Monthly Charge||Monthly Fee|
Customer that need longer terms, larger loan over $10000, or lower rates we will work with that customer as best we can to customize the loan to meet the customers’ specific needs.
Customers should also take note that Hat City Pawn may add incremental charges to certain loans if the collateralized items require special storage conditions. For example it is much easier for Hat City Pawn to store jewelry rather than a luxury car or heavy machinery.
Customers can receive their cash in multiple ways through bank wire transfers, electronic bank transfers, check, or cash.