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How Pawn Shops in Chesapeake Work

 

You might have driven past Greenbrier Pawn Shop in Chesapeake when you were out and about in, or you might have seen other pawn shops in Chesapeake. You might have thought about stopping by, but you might not have been sure what to expect. We have decades of experience in the pawn industry, and we’re here to answer some of your questions about how pawn shops work. Once you see all that your local store has to offer, you’re sure to want to stop by.

What Services Do Pawn Shops Offer?

Your local pawn shops offer lots of services! This is especially true for Greenbrier Pawn. These are some of the things you can come to a pawn shop for:

  • Selling unwanted gold and other items of value

  • Taking out a cash loan in the form of a collateral loan

  • Buying used jewelry and other used items at rock-bottom prices

  • Having jewelry repair done

How Does a Pawn Loan Work?

One of the main things people come to us for is to take out a pawn loan. These collateral loans are great for those who want to take out a short-term loan and want to avoid working with a bank or using one of their credit cards. This is a hassle-free way to borrow money to help your financial situation, even if you have bad credit.

Bring in Items for Collateral

Pawn loans are a great way to get quick cash, even with a bad credit score, but there is one catch: you’ll have to bring in collateral to secure the loan. As pawnbrokers, we do this to protect ourselves in case customers default on their loan.

 

Luckily, this isn’t as bad as it sounds. You can bring in all sorts of items as collateral. Most items of value that you can picture being sold in a pawn shop can be used. This might mean jewelry, gold bullion, old coins, firearms, or musical instruments. People bring us televisions, laptops, tablets, gaming systems, and more. Learn more about what pawn shops take


Since the amount that we can loan you will be based on the value of your collateral, you’ll want to bring in higher-value items if you want to get a bigger loan amount. If you aren’t sure of the value of the item you want to use as collateral, bring it in, and we’ll be happy to perform a quick visual inspection and give you an offer on the spot, for free. 

Show Your ID

We are required by state law to see your government-issued ID and document some of your personal information. This is true whether we’re granting you a loan or buying your unwanted items. To avoid delays and get your loan without a problem, make sure you bring your driver’s license or government-issued ID when you visit our shop.

Leave With Cash

You don’t have to wait for us to deposit the money in your bank account, and you don’t have to wait until the next business day to get your loan funds. When you take out a loan with Greenbrier Pawn, you will leave with cash in-hand the very same day. This is one of the reasons why our customers come to us time and time again when they need an easy way to get a cash loan as soon as possible.

Repay Your Loan

You will be given a pawn ticket when you take out a loan. This pawn ticket will tell you things like how much you will have to repay -- including interest rates -- and when your loan is due. When you have the money to repay your loan and are ready to do so, just bring in your pawn ticket and the cash. As soon as you settle up your loan, we’ll give you your collateral back, in the same condition it was in when you left it.

How Much Can I Borrow With a Pawn Shop Loan?

Even though the average amount of a pawn shop loan is about $150, you can actually borrow up to $50,000 at your local pawn shop, Greenbrier Pawn. We don’t base your loan amount on your credit score, income, or ability to repay, either. It’s all based on the value of the collateral that you bring us.

Is There a Credit Check for a Pawn Loan?

NO. When you take out a bank loan or a loan from most other financial institutions, you have to undergo a credit check before you can get approved. We will not pull your credit report if you come to us for a pawn loan. We also won’t report defaulted loans to the major credit bureaus, either. in simple terms pawn loans are also a bad credit loans or no credit loans. Simple, clean, and safe.

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Why Choose a Pawn Shop Loan?

We know that you have other short-term loan options, but we think you’ll agree that a pawn shop loan is one of the best. These are just some of the reasons why our customers prefer pawn loans over payday loans, title loans, and other loan options:

  • It’s extremely easy to qualify. There’s no credit check, no employment verification, no income verification, and no application process. Those who can’t get approved for credit cards or loans from other lenders can still get loans from us.

  • You get your money on the spot. If you’re looking for a quick cash loan, chances are good that you’re in a tough financial situation and you need the money as soon as possible. You’ll probably like that you don’t have to wait to get your loan funds. We’ll give you the money at the same time you visit the store and drop off your collateral.

  • We’re open six days a week, so you can even get a loan on a Saturday! This isn’t an option with many banks, credit unions, and financial institutions.

  • Our loan contracts are transparent and easy to understand. There are no unexpected additional fees or other similar issues to worry about.

  • Our interest charges are more reasonable than with predatory lenders like payday lenders.

  • There are no negative financial repercussions if you don’t repay your loan. We won’t draft the payment out of your account like a payday lender, so you don’t have to worry about related overdraft fees. We won’t report to the credit bureaus, so you don’t have to worry about your credit being impacted for 7+ years if you default on your loan. Even if you don’t repay your loan with us this time, this won’t be a problem if you want to get a loan from us in the future.

What Types of Items Can You Sell to a Pawn Shop?

Whether you’re looking to take out a pawn loan or sell unwanted items, you could be wondering what we take. Greenbrier Pawn buys many items of value. These are just some of the examples of things that our customers commonly bring to us:

  • Musical instruments

  • Unwanted gold

  • Game systems and video games

  • Brand name merchandise

  • Apple products

  • Diamond jewelry

  • Power tools

 

This is just a short list; we actually accept many other types of items, too! Bring your items in for us to take a look at, or give us a call ahead if you’re curious about what we will and will not take.

How Can You Get More Money When Selling to a Pawn Shop?

You probably want to get as much for your items as possible, whether you’re selling them or just taking out a loan. We have a few tips and tricks that can help you get more money when selling to Greenbrier Pawn.

Bring in Valuable Items

When you sell us items, we will then put those items on our shelves for our customers to buy. Basically, we can offer you more money for items that are more likely to sell and that our customers will pay more money for.

 

With electronics, this means that how modern your items are will have a big impact on how much we can offer you. You might have spent thousands of dollars on your tablet or laptop a few years ago, for example, but we might not be able to offer as much for it if it’s outdated. This is true for game systems and other similar items, too. Modern, up-to-date items will generally get you more money. However, even if your items are a bit outdated, we might still be willing to buy them. Bring them in so we can take a look.

 

The amount that you’ll be paid for jewelry is a little different, though. Jewelry doesn’t just lose value because it gets older. In fact, if gold prices are up or if your jewelry item is rare, you might actually get more for it than you paid for it.

 

Gold prices fluctuate a great deal. If you have scrap gold, gold bullion, or other gold that you want to sell, you’ll get more for it if you sell it when gold values are up.

 

No matter what you’re hoping to sell, if you don’t know your item’s value, don’t hesitate to bring it in for us to take a look at it. We’ll be more than happy to give you an appraisal for free, and you aren’t required to sell your item to us just because we look at it. You don’t have anything to lose!

Bring Items in Good Condition

We can’t take items that are in non-working condition in most cases. The only exception is jewelry. If you have broken jewelry, it might still be valuable because of its gold content and valuable gemstones.

Bring Multiple Items

You aren’t limited to bringing just one or two items, whether you’re taking out a loan or selling your items to us. You can bring in as many items as you want! Obviously, if you want to get more money, bringing more items can help.

What Happens if I Don’t Repay My Pawn Loan?

If you aren’t able to repay your pawnshop loans by the due date, or if you simply don’t want to repay the loan, you could be wondering what will happen. All that happens is that you do not get your collateral back. There’s no negative hit on your credit report, and we won’t call you or send you a letter about the loan, either. You don’t have to worry about us taking you to small claims court or taking any other legal action. Unlike with payday loans and other cash loan options, there are really no repercussions, aside from not getting your valuable items back.

 

Can You Have Multiple Pawn Loans at One Time?

Yes. If you have pawn loans out at other pawn shops, you can still come to Greenbrier Pawn for a loan. You can even have multiple loans from Greenbrier Pawn at one time. Just remember that you will need to bring different collateral for each loan.

Should You Pawn or Sell Your Item?

Since pawn shops will either buy your unwanted items or use your valuable items as collateral for a loan, you’ll need to make a choice. It’s truly up to you. If you know that you no longer want the item in question, you can just sell it, leave with the cash, and never worry about the item again. If you think you will want the item back, or if you aren’t sure, you should consider pawning instead. Then, you can repay the loan and get your item back if you want to. If you decide you don’t want the item back or if you don’t have the money to pay your loan back in time, you don’t have to worry. You can just leave the item with us. There are no negative repercussions to not repaying your loan.

 

Why Choose Greenbrier Pawn?

A Glenda Craddock Pawn Shop

Greenbrier Pawn is your best choice anytime you want to perform a pawn transaction, whether you’re looking to take out a loan, sell something, or buy something. Our in-store experts are happy to assist you with whatever you need help with. We’ve been in business since 1996, so we have many years of experience in the pawn industry. We buy and loan on many different types of items. We pay top dollar when we buy used items, and we offer reasonable pricing if you’re looking to buy jewelry or something else

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A Glenda Craddock Pawn Shop

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Ask Us About a Pawn Loan Instead

A Pawn Loan lets you keep your valuables

If you would prefer not to lose your items, you can always ask us about a Pawn Loan. The process is similar to selling an item, but instead of keeping it, we’ll just hold it as collateral. Then, you’ll be able to retrieve your item when you come in and pay off your loan. This is a good option for those who need money now but who don’t want to sell their items permanently. If you later decide that you do not want your item back, however, you can simply leave it with us and forget about paying back the loan. There are no negative repercussions for doing so, and you can always come back in later to make another sale or take out another loan with no problems.

Contact Us with Questions

Please don't hesitate to hit the call now button to ask any questions you might have. Our daughter Nina runs not only this store but all three and will gladly spend some time explaining how everything works. Call and ask for her right now.

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