What Pawn Shops take for Pawn Loans

What Are Pawn Loans?

You might be wondering why a pawn transaction is one of your best options instead of payday loans or traditional loans. If you’ve never actually worked with a local pawnbroker to take out a loan before, you still might not totally understand what these loans are. Luckily, the way it works is quite simple.

 

You’ll need to bring collateral items to our shop. We’ll take a look at them and determine approximately how much the resale value of your items is. This information is used to make you a loan offer.

 

If you decide you’re interested in taking out the loan, there is no waiting period to get your cash. We’ll hand it to you in cash the very same day. In turn, you’ll leave your items of value with us to hold as collateral.

 

When you return and pay off your loan on or before your due date, you’ll get your items back. We’ll keep them secure in our shop in the meantime.

 

You can save a lot of money on interest charges and additional fees by using a pawn loan over other types of lenders. Additionally, our loans are granted based on Virginia state laws. You never have to worry about being charged additional fees that are outside of state law. We’re upfront and transparent about how much your loan will cost and when it’s due, so you can feel confident working with us as your lender. Your transaction ticket will list everything and we go over it when we hand it to you.

 

There’s no application process, and you don’t have to prove that you have a job or certain amount of monthly income. The process is fast and really couldn’t be easier. Just don’t forget to bring your ID with you.

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Why Do You Need Collateral for Pawn Shop Loans?

Put simply, pawn shops are taking a risk by granting loans without requiring an application or performing background checks and income verifications. To protect ourselves and our business, we have to hold collateral to help ensure that we get our money back.

 

This might seem like a hassle, but it’s actually a positive thing for you if you have a low credit score, haven’t yet established credit, or simply want to skip a long application process.

 

Because we protect our business in this way, we are able to grant loans more quickly and easily. We are able to say yes to pretty much anyone, as long as they are a legal adult with a government-issued ID. Plus, as the borrower, you can actually control your loan amount. If you bring in enough items of value for one of our collateral loans, you can borrow as much as you want, even if you don’t have a high income or credit score. Most of our customers don’t mind bringing in collateral because it allows them to borrow money in one of the easiest and best possible ways.

 

How is Value Calculated?

You could be wondering just how we are able to tell the value of your items. Basically, we’ve been in the business for decades now. We have bought and sold many items of value. We’re well aware of how much jewelry, firearms, and other common items are worth. We’ll do things like assess the authenticity of your jewelry, weigh your precious metals, and consider current market values when making our assessment. We also do our research to find out current selling prices for items.

 

Basically, we’ll want to value your item at a price that will allow us to resell it for a profit in the event that you default on your pawn loan. If you’re curious about how your particular item is being evaluated and valued, don’t be afraid to ask.

 

Tips for Success With Your Pawn Shop Loan

Now that you know a little more about our loans and what you can potentially use as collateral, you’re probably ready to borrow some much-needed cash. These tips for success will help you have the best experience when taking out a pawn shop loan, even if it’s your first time.

• Stop by as soon as possible. The process doesn’t take long at all, and the sooner that you come in, the sooner you will have cash in-hand. Our pawn stores are open six days a week, so stopping in at a time that’s convenient for you should be easy.

• Bring your collateral when you come. We won’t be able to grant you a loan without it, and there’s no need to stop by to ask about a loan before you bring your collateral. Everything can be taken care of at the same time.

• Consider the estimated value of any items that you want to bring in. Bringing in more valuable items will increase the chances of you getting the loan amount that you want. For example, consider bringing power tools instead of hand tools, since they are typically more valuable and can help you get a bigger loan.

• Bring more than one item if necessary. You can bring in dozens of items as collateral if you want. As long as our estimated value of everything adds up to the loan amount that you want, you’ll be able to get your loan. We have plenty of storage space to keep your items until you return to pick them up.

• Let us know how much you want to borrow. We’ll let you know whether or not we can make this happen after looking at your items, and we can even make recommendations about items you can bring in to help you get to the loan amount you’re hoping for.

 

Selling Items vs. Taking Out a Pawn Loan

We don’t just offer pawn loans; we buy your unwanted items of value outright, too. If you want to get your items back later, then a loan is obviously the better choice. However, if you need quick cash and have items that you don’t want anymore, you can bring them in and ask us if we’re interested in buying them.

 

In many cases, we will purchase the items listed above. You will not have to worry about finding a buyer for these items yourself, nor will you have to worry about risky meet-ups with strangers who you might have advertised your items to online. Instead, you can stop by our reputable shop and get rid of your items right away, and we’ll offer you top dollar for them, too. If you’re getting rid of clutter or just need to get some cash that you don’t have to pay back, this can be a wonderful solution for you.

 

Also, if you take out a pawn loan and later find that you don’t want to retrieve your items, or if you find you’re financially unable to pay your loan back by your due date, you can just leave your items with us. It isn’t even necessary to call to let us know. You don’t have to worry about us calling and bothering you about a payment, your credit will not be affected, and you’ll still be able to use our pawn shop for our services in the future.

 

If you happen to be in Virginia Beach our sister store Hilltop Pawn Shop & Jewelry also makes Pawn Loans. You can probably just google Pawn Loans Virginia Beach and it will pop right up.

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What Our Pawn Shop in Chesapeake VA Buys

If you're looking for the best pawn shop near me to sell to, we think you'll find that our pawn shop in Chesapeake VA is your best bet. If you check out the Greenbrier Pawn photos on our website and Facebook page, you'll see that we buy and sell a lot of high-end items. If you're looking for a pawn shop that buys Bvlgari or a pawn shop that sells Piaget, come see us. Greenbrier Pawn Shop wants to pay you more for your luxury items, or we'll cut you a great deal if you're in the market for designer jewelry or luxury watches.