How does pawn work?
- Bring us an item of value (for a list of items we accept, see below).
- We value your item using online markets such as eBay.
- We offer a loan based on market values.
- Loan term is 30 days from the day of pawning.
- Paying the storage fee extends loan term another 30 days.
- Pay storage fee + principal to redeem your item.
What are the benefits of pawn?
- Short-term: Pawns ideally last only a month or two, so it’s an easy way to hold yourself over until payday.
- No credit reporting: Since pawn is a collateral-based loan system, there is no credit reporting involved. Even if you can’t pick up your pawn, it won’t count against your credit score.
- Low-interest: Most loans work on a 10% + $3 interest fee per month, so if you pick up an item you received $100 for, all you pay is $113 at the time of redemption.
Frequently Asked Questions (FAQ’s)
Pawn provides a quick, simple way to get a short term loan. Pawn also allows you to leverage valuables you own without being forced to sell outright.
Yes! Absolutely. Usually anything we give a loan on we are also willing to buy.
Typically we give around 35% of resell value (based on an average price on eBay) for a loan and 50% if we are buying it. This excludes firearms and jewelry, of which we give the same amount regardless of whether it is a loan or a buy.
Our two favorite items are firearms and jewelry (gold, silver, and platinum only). Other items we accept include tools, electronics, musical Instruments, and some collectibles.