High End Pawn Loans
High End Pawn Loans are for a larger amount than standard pawn loans. These types of loans generally range between $1,500 and $10,000. High End Pawn Loans are designed to assist small businesses to attain extra cash flow or meet payroll obligations for example. Please refer to the paragraph below to understand the fee structure for High End Pawn Loans.
How High End Pawn Loans Work
A 20 percent fee per month is assessed on the first $1,500 loaned. After this fee, any amount loaned in excess of the $1,500 is assessed a 3 percent fee per month. If the loan amount reaches $7,500, the fee percentage is frozen at 7 percent. Please refer to Table 1 for more examples.
A High End Pawn Loan term is 90 days. It can be continued after the term providing that the minimum pawn fee is paid monthly for every month after this point. Keep in mind that there is no limitation on the number of months a High End Pawn Loan can be rolled over. However, the longer the pawn continues, the more expensive it will be for the loan recipient.
A loan recipient may also pay off their loan early without penalty fees. For example, if you determine that you only need one month instead of three months, we will only charge you the fee for one month.
Types of Collateral
We accept a wide range of collateral when considering high value pawn loans, some of these are listed below along with the typical amounts and repayment schedules that you can expect when borrowing against your goods.
- Luxury Cars
- Heavy Machinery
- Real Estate Properties
- Gold and Silver Coinage
|Loan Amount||Term||Monthly Charge||Monthly Fee|
High End Pawn Loans Special Considerations
- If you need longer terms, larger loans in excess of $10,000 or lower rates, we will work with you in order to customize the loan to meet your special requirements.
- Hat City Pawn may add incremental changes to certain loans in the event that the collateralized items are in need of special storage conditions. For example, it is more difficult for us to store a luxury car or a piece of heavy machinery than it is gold and silver coinage.
- You may receive money through bank wire transfers, electronic bank transfers, check or cash.