You may already know that pawnshops can offer consumer credit without a credit check. If you’re in need of a good pawn shop that treats you well whether for quick cash or a credit line. No matter if you are interested in pawning an item or buying one here are a few tips on finding the right pawn shop for your needs:
Understand how things work:
A good pawn shop is a place where you can turn over high value goods for a reasonable cash offer. It’s also a great place to buy second hand items for a good price. When you enter a pawnshop your have three options buying items, selling items or pawning items for credit. When you ‘pawn’ an item you exchange it for a cash loan that must be repaid within a certain period of time. Repaying the loan, plus interest and fees should be your goal. If unpaid the item you pawned acts as collateral for your loan and you won’t receive it back. You should never pawn an item unless you are certain you can pay it back.
Read online reviews before you visit:
One of the best ways to know that the pawn you are dealing with is fair and legitimate is to read online reviews. People like to leave reviews when they have a great experience but also when they don’t. Make sure you do your research beforehand.
Take a look at market pricing:
Be prepared for an offer by looking at the market prices for the item you are trying to sell. It can be especially helpful when you are pawning used good like electronics, gold or jewelry to understand what it might sell for before you enter a pawn shop. You don’t want to feel like you are being low balled for your item.
Be sure of proper licensing and bonding:
Only work with pawn shops that are licensed and bonded. This not only protects them from theft but also helps you. For example, if you pawn an item for a loan you want to be able to pick that item back up when you pay your loan back in full. However, if the pawn store was robbed and your item was stolen the pawn store can depend on their insurance, bonding and licensing to get things covered and sort you out.
Play fair and keep cool:
If you come into a shop claiming that you have George Washington’s original dentures you are going to need proof before a sale will be considered. Long gone are the days of trusting someone on their word. A pawn shop employee will want to have proof that your item is authentic or working. If you have jewelry they may want a certificate of sale. If its an electronic item, don’t be offended if they want to test it’s capabilities before purchasing it from you.
If you are interested in working with a reputable shop that is insured and bonded look no further than Diamond Jewelry & Loan. We are a Los Angeles pawn shop that has been serving the people of LA since 1948. If you have items you wish to sell for a quick cash profit or need to get a loan on collateral, think of us.