What Pawn Shops take for Pawn Loans
If you’ve been looking for a safe, quick and easy way to borrow cash, you might be interested in a pawn loan. Pawn shop loans are short-term loans that work great for just about anyone who needs quick cash to solve a short term financial problem. Most loans take about five minutes and you walk out with cash in hand.
What Do Pawn Shops Take?
You might know that you will need to bring in collateral for your cash loan, but you might not be sure of what you should bring. As your local pawn shop, Greenbrier Pawn will take just about anything of value for our loans. In fact, you might be surprised by the many different items that we’re willing to accept. If you aren’t sure, you can call us ahead of time to ask. You can start by looking around your home for these different types of items. Also, remember that you can bring in multiple items, so you can bring one or more items from each category if you’re looking to take out a higher-value loan.
Diamond and Gold Jewelry
One of the most popular things that people bring to us for our pawn loans is jewelry. After all, these are often some of the most valuable items that people have, and you might not mind going without a necklace or bracelet for a few weeks until you’re ready to repay your loan.
We take all sorts of valuable jewelry, including wedding bands, engagement rings, necklaces, bracelets, diamond jewelry, and more. Vintage or antique jewelry is often quite valuable, too. We accept jewelry from designer brands like Tiffany & Co. Cartier, Bulgari, Piaget, Pandora, and more, but we also accept lesser-known brands and custom pieces.
Rolex and Luxury Watches
Luxury watches from brands like Rolex, Omega, Tag Hauer, and Piaget hold their value very well. This means we are often able to offer high loan amounts on these watches.
Vintage Guitars & Musical Instruments
We accept musical instruments of all types, including guitars, bass guitars, woodwind instruments, keyboards, brass instruments, and more. We also take amplifiers, speakers, soundboards or mixing boards, and other musical equipment. Any quality musical instrument of higher value.
Apple Products and Computers
You can bring your laptop or desktop computer to Greenbrier Pawn to take out a loan. We also accept tablets and more. Computer equipment must be the current or near current model.
Greenbrier Pawn Shop accepts firearms, firearm accessories, and weapons. Whether you have a handgun, shotgun, or rifle, chances are good we’ll take it. We also accept some knives and other weapons but they must be legal and of value.
Precious Metals Gold Platinum and Silver
As you might imagine, many people bring jewelry that is made from precious metals to our shop for collateral. This is true for gold and silver jewelry, for example. However, your precious metals don’t have to be in wearable form in order to work as collateral for your loan or to be sold to our pawn shop.
For example, people often bring gold or silver bullion in. Old gold coins, dental scrap that is made from gold, broken jewelry that is beyond repair, and more are all good options. Generally, when you bring in precious metal in these forms, it will be valued based on weight. Therefore, the more metal that you bring in, the more your loan amount will be.
Loose Diamonds and Gems
Diamond jewelry is often brought to our shop by people who are interested in pawn loans, but your diamonds don’t actually have to be set in a ring or other piece of jewelry. Loose diamonds or other valuable gemstones can be brought in as-is.
We Loan Money on Anything of Value
Although these are some of the most common things that people bring us to use as collateral, it’s not an exhaustive list. We take all sorts of unique items of value. It doesn’t hurt to bring your items in or call us ahead if you aren’t sure. We want to help you get the loan amount that you need, so we’re flexible!
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.
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.
A Glenda Craddock Pawn Shop
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.