Hey! ARE PAWN SHOPS A RIP-OFF?
For many years, pawnshops have suffered from an image problem. Our industry has suffered from the old stereotype movie image of a pawnshop. (We really don’t prey upon helpless grandmothers!)
The truth is, we are under closer scrutiny than anyone may imagine. A copy of each and every transaction we do is provided to the local police agencies. This protects everyone involved in the pawn process and insures anything you buy from us is not stolen.
Pawnshops are by far the best kept secret when it comes to buying quality jewelry at economical prices. WHY PAY RETAIL WHEN YOU DON’T HAVE TO?
WHAT DO I NEED TO GET A LOAN?
To get a loan, you MUST have a valid identification issued by any of the 50 states or U.S. possessions. Other acceptable forms of identification are: Valid Passport, Valid Military Identification, and Valid Immigration and Naturalization Identification.
Of course, you also need something of value to pawn. For a list of items that we loan money on,
HOW LONG ARE YOUR LOANS?
Under California State law, every loan written in every pawn shop is for four months. Whether you need the money for a day, week, or month, you get a full four months to redeem your pledged property.
WHAT IS IT GOING TO COST ME TO BORROW MONEY?
The amount of interest we charge is mandated by California State Law. We can neither charge you more nor less than what the law states. For instance, a $100.00 loan will cost you $117.50 to redeem.
HOW MUCH DO YOU LOAN?
Generally, we loan our customers 10% of the wholesale value of the item brought in for pawn. For example, if you bring us a ring that wholesales for $2,000.00, we will loan you $200.00.
IF I FORGET ABOUT MY LOAN, WILL I LOSE IT?
We really don’t want to own your merchandise. Honest. When your loan has expired, we will mail you a reminder to come in and take care of your loan.
If you don’t have enough money to redeem your pledged property, you can always pay the interest on the loan, and you will have another four months to come in and pay off your loan. There is no limit to the number of times you can pay the interest and re-write your loan.
Hopefully, most of your questions have been answered here. If you still have questions, please feel free to call us at (661)-396-7296 – Toll Free.
You can always E-Mail your questions by clicking here.
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