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  • Writer's pictureGlenda Craddock

Do You Get More for Pawning or Selling? | Chesapeake

If you're dealing with an unexpected financial crisis, finding a way to get much-needed cash is critical. Pawn shops like Greenbrier Pawn here in Chesapeake, Virginia offer a couple of options for you to get quick cash when you need it the most. You don't have to worry about getting approved for a loan from a bank, borrowing money from your family, or using a credit card. Instead, you can look into both pawn loans and the option to sell your valuable items for cash. Either way, a pawn transaction can help you get the money that you need, on the spot.

Pawning a diamond ring

Do Pawn Shops Pay More for Pawning vs. Selling?

When you really need extra money, it's only natural to wonder how you can get the most cash today for your special item. The truth is, there isn't really a difference in how much you'll get for pawning vs. selling at Greenbrier Pawn. The main question is: do you want your item back? If you sell your personal property to us, we'll pay you what it's worth. If you take out a loan, we'll loan you money based on what it's worth. Either way, you'll get the most cash based on your item's value by coming to us.

Pawning: What is a Pawnshop Loan?

A good pawn broker offers a variety of useful services. One of them is offering a cash loan for customers who need it. A pawn shop loan is a collateral loan. You can borrow extra cash (even with poor credit) to help you with your financial needs, and the amount you borrow depends on the value of the item that you bring in as collateral. Using an item of value to borrow money is a good idea for many customers; it's an easy way to get money without giving up your item forever.

Pros and Cons of Taking Out a Pawn Loan

When deciding whether you want to sell or take out a pawn loan, assessing the pros and cons of borrowing money in this way is a good idea. Then, you can determine which is the better option for you. Pros

● There's no credit check, so your credit score doesn't matter at all. ● You don't have to worry about the high interest rates that go along with payday loans. ● You'll get your cash the same day. ● There's no complicated loan contract; everything is listed on the pawn ticket. ● You can get an extension if you aren't ready to pay on your due date. ● Because your loan amount is based on the value of your collateral and nothing else, you get to choose how much you borrow. ● Unlike with selling, you get your item back after you repay your loan!

Cons

● There are interest charges, although they are state-regulated. ● You have to leave your item with us until you repay your loan. ● You do risk losing your item if you're unable to repay your loan, although we do offer extensions when needed.


Selling: Is it Better Than Taking Out a Pawn Loan?

For some, selling gold jewelry, sporting goods, or other unwanted items is better than taking out a loan. Of course, before you sell, you should determine the pros and cons of selling your item instead of taking out a personal loan with us. Pros

● You don't have to worry about interest charges or keeping up with repayment terms. ● It's one of the easiest ways to sell unwanted items. ● You can get paid top dollar for your unwanted items. ● You can sell all sorts of items of value.

Cons

● Unlike with a short-term loan with us, you don't get your item back. It's best to only sell unwanted items, rather than items that have sentimental value, such as a family heirloom.

How Much Will You Get When Pawning or Selling at a Pawn Shop? Whether you're selling or taking out one of our collateral loans, you're probably curious about how much you'll get. Either way, we assure you we'll make you a good deal!

Pawning a Rolex Watch

To offer the best prices, our friendly staff will carefully look over each item that you bring in. We'll consider the type of item that you bring in, its condition, demand, resale value, and various other factors when we're valuing your items.

Top Items to Pawn or Sell at Greenbrier Pawn

Whether you're pawning or selling, there's a good chance we're interested. We buy and make loans on many different pre-owned items of value, including:

● Engagement rings ● Estate jewelry ● Gold and precious metals ● Power tools ● Musical instruments ● Electronics ● Video games and consoles

We work with a large variety of merchandise items of all kinds at our iconic pawn shop. Because we accept a large selection of products, don't hesitate to bring your item to us today so we can take a look at it, even if you don't see it on this list. It's up to you whether you want to pawn or sell your high-value items. Either way, our pawn store will help you get the money that you need today. Visit Greenbrier Pawn in Chesapeake, Virginia, and we'll be happy to help you put some cash in your pocket.


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