Archive for the ‘Pawn Loans’ Category

Exactly How Do You Pawn Something Without Getting Ripped Off?

May 16th, 2017

No matter how well you manage your money throughout your life at some point you’re going to have an emergency that requires quick cash and you’ll have nowhere to turn. Sure, you might have had a wallet full of credit cards but it was pickpocketed, you tried calling family but they’re having money problems worse than yours.

 

You might even have a few people you could ask for a short-term loan but your pride is getting in the way, so exactly what do you do? Well, one solid option that many people don’t realize is there are pawn shops in most large cities. It takes some skill to not get ripped off by them so we’ll go over some tips on just how do you pawn something and not lose your shirt in the process.

 

Pawn Shops Aren’t Usually The Best Option But

 

There are always payday loans but they’re going to have to be able to verify your income and that can be a problem. Some jobs, like self-employment, don’t have a central person that can be called a boss that will be able to verify your employment. If they demand to see a check stub, maybe you don’t get paid by check, just by online PayPal deposits.

 

Or, there is always a good chance that you really don’t want your boss to find out you’re having money problems at all since he might lose confidence in you. Payday loans also usually require a checking account so they can automatically withdraw the funds on the day they’re due and maybe you don’t trust them or don’t exactly know what day funds will be available.

 

There are also short-term secured loans against things like real estate or automobiles but you need to have plenty of equity and you could lose something of incredible value if you miss a payment. Some of these loan shark type lenders are really in the business of taking expensive properties from unsuspecting people that have money emergencies. They would like nothing better than to repossess your expensive car that you’ve worked so hard to pay off. The bottom line is if you have some smaller items like guns, jewelry, electronics, antiques, or other valuables a pawn shop may be the best way to get the money you need without a lot of trouble.

 

There are some advantages to going to the pawn shop since they don’t care what kind of job you have, how much real estate you own, or any of that information at all. All they really care about is what you have for collateral and how much it’s worth. If you default on the loan they just keep your item and put it up for sale in their store.

 

There Are Some Things You Need To Keep To Yourself At The Pawn Shop

 

If you have something that you’ve found at the flea market or a garage sale, don’t tell the guy down at the pawn shop anything like that. He’s going to think that he can offer you a lowball price since it has no sentimental value to you at all. Plus, if you got a good deal on it, don’t mention a price because he’ll automatically use your purchase price in his consideration of how much it’s worth if he has to resell it at his store. It’s always better if he has to carefully think about it and compare it other similar items he’s bought and sold in the past. The item may be worth far more than what you think it is, you’ll never know until you get their offer.

 

If you have any doubts about the value of an item, take it to a real appraiser and actually pay to get it appraised. Then you’ll have a slight upper hand on the pawn shop clerk because he needs to carefully do his own appraisal and make the offer quickly based on a limited amount of information. However, remember that they are only going to loan a percentage of what the real value of the item is since they are in the business of making money off of both the loans and the retail store connected to their loan office.

 

Always Be Ready To Walk Out The Door Even If The Offer Is Good

 

No matter what, you should always go to several different pawn shops, even some in different cities, to get the best value for what you have. Some pawn shops specialize in different items, like guns, musical instruments, jewelry, electronics, power tools, or whatever, if they have the right buying clientele they can offer more and get a quick sale.

 

On the other hand, if you have a Bass Saxophone that’s worth $1,000 and they have no other musical instruments in their store, they’ll only offer you a small pittance for a great instrument. Plus, in some cities, some types of products, maybe it’s power tools, will get a premium price because there are a lot of hobbyists that work on cars, you just never know. Get an offer from at least three different shops before you decide on one.

 

Sometimes you’ll even be taken advantage of because they’ll offer you 25% of the value of an item and not even be planning on selling it in their own shop. Instead, what they’ll do is resell it to another pawn shop for a quick cash deal and then the other shop will mark it up again before sale. In that case, you’re just paying the pawn shop to be a middle man and if you were to look around some more you would get a much higher price.

 

If You Have Boxes, Instructions, Paperwork, Or Certifications Bring Them

 

Many different items have a certain value because of where they’ve been or who has owned them in the past. Or, they may be possible heirlooms like a painting, statue, or antique, these items could be worth much more than their face value if the proper documents are brought along with them for inspection.

 

Not only does is show an increased value for the item but it also shows that you have a heartfelt connection to the item and that makes it worth more. They will also be able to sell the item for much more money if they have paperwork and certificates since some buyers place a higher value on documented antiques, jewelry, or even rare stamps.

 

You should also take advantage of the internet to find out the value of what you’re going to pawn. Some types of items, let’s say baseball card collections, have a fairly stable price and you might be able to find a buyer that would purchase your entire collection for a really good price. You’ll never know until you do some searching.

 

You can also take advantage of the image search feature on Google to help you find similar products even if your antique isn’t something with an exact name. You can search by description and get a pretty good idea of what something is worth so that you know whether or not the pawn shop is lowballing you or not. When you are learning how do you pawn something, you have to do your research and use all of the information you can find to your advantage.

 

Once You’ve Found Several Pawn Shops Where You Can Get Your Loan Hit The Internet

 

Of course, there is going to be a contract that will spell out the payment schedule so you know exactly how much you have to pay and when. If you don’t follow through, the pawn shop has the right to sell your pawned item to pay off the loan and make a profit too, that’s their business. You should take all the time you need to read the contract and all of the small print, ask questions of the clerk, and even take it to an attorney if you need to on an expensive item.

 

You should also go to several review sites online and search for the name of the pawn shop to read as many customer reviews as possible. When you want to know how do you pawn something without getting ripped off, this is one of the most important steps. Keep in mind that when it comes to pawn shops there are always going to be some bad reviews.

 

People expect to get retail prices for their used goods and don’t understand that the pawn shop is in business of buying low and selling high. You can’t be confused into thinking they are there to help you out of your emergency cash flow problem, because they’re not. You’ll see some reviews from past customers that don’t understand this, so be aware of that, and take note of it in your own case as well.

 

Remember, You Have The Option Of Selling Or Pawning

 

Each shop is going to be different in their focus but they often buy things outright with the idea that they are going to put them up for sale immediately. When an item is pawned, they are loaning you money, sometimes 90 days other times 120 days, and you’re going to either make small payments or a lump sum payment and retrieve your pawned item.

 

They will be charging interest, sometimes high interest, for the span of the loan. At the end of that time, the item becomes their property and they can sell it. Some pawn shops do have special deals where the previous owner of an item that is up for sale can purchase for a discount. You should ask about that, it will have to be in the contract, and the item could always be sold before you have the money to buy it back.

 

If all you really want to do is sell your item, be sure and check out online sales places like Ebay, Craigslist, and online classifieds because you’ll get a higher price. The downside of putting things up for sale will be that you’ll have to wait longer for the money and your precious item is gone forever, you can’t get it back. With a pawn shop you could walk away with money the very same day instead.

 

If you have a money emergency, then you should give some thought to using a pawn shop. They have their advantages and disadvantages just like every other way to get fast cash. But, as long as you study on how do you pawn something and then do your homework, you’ll know exactly how the game is played and just what to expect.

Everything To Know About Short Term Pawn Loans San Francisco

January 21st, 2017

Loans have become really popular financial products in our world today. The increase in demand for loan services and products can be attributed to the tremendous increase in the cost of living, inflation and the high rates of unemployment in various parts of the country and the world at large. More and more people are experiencing financial constraints in the form of huge credit debts, overdue bills, incomplete school and tuition fees, car payments, car repairs, insurance payments, emergency bills and many more.

Most people assume that loans have to be large amounts of money borrowed from big banks and financial institutions that have to be repaid with interest over the course of many years but this is actually not true. Loans can be short-term and designed to let individuals borrow small amounts of cash to meet various financial needs. So if you thought loans were only meant for large financial needs such as mortgage and automotive financing then you are not seeing the bigger picture.

Short term loans San Francisco do exist and can be used to finances a wide range of activities and projects such as going on vacation, paying for minor home improvements, catering for minor car repairs or even sorting out such urgent bills such as healthcare and utility bills. These short term loan products have helped millions of people to avoid the frustrations and inconveniences that are caused by financial constraints and inadequate finances.

Though short term loans are usually very similar to their long term counterparts, the former are still a bit different from the latter. Various aspects such as interest rates, security and collateral requirements may vary between short and long term loan products in San Francisco. However, the two types of loans still adhere to the same age old concept of loan provision and repayment. Money borrowed has to be ultimately repaid back to the lender. Here are some features of short term loans San Francisco that you be aware of.

Duration

The most common question posed by people who are interested in short term loans is the exact duration offered by this type of loans. The term “short term” says it all. Short term loans can last from anywhere between a few weeks, months and sometimes even up to a year. The recommended maximum duration a short term loan should run for is 12 months which is a year. These loans can therefore vary in duration and it is not uncommon to find loans beings offered for terms of three, six, nine and even twelve months duration depending on the amount being offered.

Collateral and Security Considerations

Short term loans San Francisco will in most cases involve small amounts of cash and this means that providing a form of collateral or security for the loan may not be a mandatory requirement. A huge percentage of short term loans either require no collateral or security at all or the assets used for collateral are of low value. This feature makes this type of loans really friendly and easy to acquire as most people are usually reluctant to submit their valuable items and properties as collateral.

Vehicles are common forms of collateral for this type of loans.

Interest Rates

The interest rate fixed to a certain loan can majorly depend on the amount of money borrowed, repayment duration and whether or not collateral has been used to guarantee the subject loan. When compared to long term loans, short terms loans tend to charge slightly higher interest rates due to their shorter repayment periods and lenient collateral requirements.

The interest charges are still very manageable and are spread out evenly throughout the loan repayment installments. It is far better to incur a higher interest rate for a shorter term than a lower interest rate for a longer term. A six month short term loan will thereby charge a lower interest rate than a five year long term loan.

Short Term Loan Lender

Short term loan products are generally offered hand in hand with long term loan products. The same financial institutions and lenders that offer long term loans will also have a wide range of short term loans San Francisco on offer. Different lenders will have different application requirements for potential borrowers but the requirements will not be as strict as those imposed on long term borrowers. It is important that you take your time when shopping for short term loan products in San Francisco in order to evaluate as many offerings as possible.

A quick overview of the lending industry and getting offers from different short term lenders San Francisco will help you to get a short term loan that has a reasonable interest rate and repayment duration as well. Also, when it comes to paying the loan, it is important to make your loan repayments in full and on time in order to avoid any negative impact on your credit score.

Best Pawn Shop Loans Online

December 16th, 2016

There are quite a few options available to you in case you are looking to raise some cash. For instance, you can go to one of these payday loan lenders. However, the biggest problem with these lenders is that they charge an extremely high rate of interest and other associated fees. Also, the amount of money lent to the first-time borrowers tends to be around $100.

One of the other options available to you is to get a pawn loan. There are a number of pawn loan shops online that will lend you the money you need to at a fair interest rate when you mail them an item worth something. However, all online pawn shops are not created equal and there is a lot of difference in the quality of service and various other important things. Here is the list of the factors you need to consider to find the best pawn shop loans online.

Best Pawn Shop Loans Online

First of all, you need to understand that a pawn loan is different from a personal loan from a traditional bank. It allows you to get money by pawning the items you already own. There are no financial disclosures as well as credit checks required for a pawn shop loan. To get money from pawn shop online, you need to get in touch with them and mail them the item that you wish to pawn.

Once they receive the item, they will tell you the maximum loan amount and the terms of the loan. If you accept the terms, the money will be credited directly into your bank account. As far as the amount of money you can raise through a pawn shop is concerned, it will depend on the value of the item as determined by the appraiser at the pawn shop. Most pawn shops offer a number of different repayment plans and you are free to choose your own repayment plan.

It is a risk-free loan for the pawn shop as they are going to hold on to the collateral that you place with them until the loan is paid off. Also, if you are not able to pay back the loan, they will sell the collateral and recover their money. In case you are able to pay off the loan, the item is shipped back to you from the online pawn shop for free.

However, there are a number of different online pawn shops and you need to be careful dealing with them. While most of the pawn shops are outstanding businesses that have been operating for a number of years, there are bad apples everywhere and you need to steer clear of these bad apples.

When you begin looking for a loan, you need to start by searching online. An online search will get you tens of different companies offering loans. You may also ask your co-workers, neighbors or friends to recommend a pawn shop they have dealt with in the past.

Once you have a big list of such pawn shops offering loan online, you need to research further to find out more about their reputation and other things to make sure that they are legitimate. One of the first things you should look at is the number of years they have been in business. As mentioned in the beginning, there are a lot of established pawn shops that have been in business for decades which means they have a reputation in the market and are not going to run away with your valuable.

Once you have made sure that the companies in your list are reputable, you should go to their website and find about the valuable items accepted by them for collateral. For instance, most companies accept jewelry, brand-name musical instruments, precious metals and coins, high end watches, precious gemstone, loose diamonds, high-end camera equipment as well as luxury handbags among other things. While most companies offer loans on a wide range of assets, some of the assets are not accepted by some pawn shops such as electronic items, firearms and various other such things.

After making sure that the companies in your list accept an item you possess, you need to take a close look at their terms and conditions as well as loan amount. The loan amount is based on their in-house evaluation by their own expert but you may give them a call and they will give you an estimate of the expected loan amount for the item that you wish to pawn.

In addition to the expected loan amount, you also need to find out more about their interest rate as well as repayment terms. In most cases, pawn loan is granted for a period of one month. The companies also offer another month of grace period to allow borrowers to return the money and get the collateral back. However, there are also other companies that offer very generous repayment terms including repayment period of up to 12 months or longer. Therefore, you need to choose a pawn shop depending on your personal circumstances to make sure that you are able to make the repayment on time and do not suffer from late fees or any other penalties.

The company should be clear about its terms and conditions. You should never send something to a company that is not transparent about the terms and conditions. For instance, you need to ask them to tell you clearly about the repayment terms and whether you are required to pay any penalties if you are not able to repay at time. You should also ask them about the rollover of the loan in case you are unable to come up with money on the agreed date.

Overall, these are some of the things you need to consider to find the best pawn shop loans online. Make sure that you are able to repay the loan on the agreed date. In case you are unable to repay the loan, the pawn shop will sell your item. Therefore, you should try to repay the loan on time and only deal with pawn shops that are reputable and have been in this business for a long period of time.

Buy Rings At Jewelry Pawn Shops

October 20th, 2016

We all have jewelry around the house that we’ve inherited or it turned out to be an impulse buy. When you’re strapped for cash and need money right away, you may look to your jewelry as a means for paying off your debt. There are undoubtedly numerous jewelry pawn shops in your area, meaning that these shops either deal primarily with jewelry or choose to sell it on an as needed basis. When taking your jewelry to a pawn shop near you, you can get a short-term loan which you will need to pay back. Should you choose not to pay off the loan, the pawn shop isn’t required to hold your jewelry and is free to sell it.

Of course, the pawning process can end up being a rude awakening for many people when they find out that their wedding band isn’t going to get a high loan. With that being said, when you’re only looking to get a loan, most pawn shop owners are willing to negotiate based on your needs or the story you have behind your piece of jewelry. Regardless of your situation, you will want to get the most out of the pawning process, and surprisingly enough, it’s all up to you!

Always Clean Your Rings

It may sound a lot like common sense, but you’d be surprised by how few people actually take the time to clean their rings or other jewelry before heading into a local pawn shop. Remember, pawn brokers are there to make a speedy transaction, and if you wish to get the most for your item, you need to show it off in the best light possible. There are numerous cleaning solutions and cloths available on the market specially formulated for precious metals and gemstones.

Be careful when cleaning stones and avoid using harsh chemicals or toothpaste as they can damage stones. Use a soft bristle toothbrush to apply cleaning solution to your jewelry and work around as well as behind prongs to soak out gunk. Rinse well and don’t forget to clean the facets of all gemstones to ensure a good sparkle– especially when you have a quality gemstone!

Of course, no ring or other piece of jewelry is complete without a purity hallmark. Pawn brokers want to know that they’re investing in silver, gold or platinum before allowing you to pawn your jewelry. Just like you need to clean the gemstones as well as the setting, make sure to give all hallmarks a good shine which are usually located on the inner band. If your jewelry doesn’t have a karat mark or isn’t stamped silver, you’ll receive much less than its worth, even if it is a precious metal.

Check For Completeness

If your ring is part of a wedding set, it may have additional pieces such as a decorative wrap setting to make it more elegant. Providing all of the original items that came with your purchase can positively impact the price. A complete ring set is a lot easier to pawn than one that’s missing pieces.

Do consider the condition of the ring you’re hoping to pawn. Jewelry pawn shops want use good quality pieces for a loan in case you’re unable to pay off your debt. Check to make sure that all gemstones are properly sitting in the band and that the band itself is in good shape.

Bring Appraisal Paperwork

Chances are, if you have a ring that you know is worth some money, you may have gotten it appraised at some point. When heading off to jewelry pawn shops, always take the official appraisal letter with you. This amount is an approximate value of what your jewelry is worth and is usually used in case you choose to insure your ring.

Though appraisal value can help you understand the replacement value of your piece, do understand that pawn brokers can’t offer a loan anywhere near that amount. What pawn shops can reasonably offer is a so-called base value. This number is the price that the shop can sell your ring for in case you default on your loan.

Set Realistic Expectations

We’ve all heard horror stories about pawn shops and how they rip people off, but a good portion of those stories are a result of misplaced expectations. We all strongly believe that the jewelry we own is special and one of a kind, but the sad truth is, unless you have a strictly custom piece, it really isn’t. Even fancy jewelry stores use common manufacturers whose designs appear in numerous catalogs, therefore, your piece is likely to have been repeated elsewhere.

Pawn shops that deal especially with jewelry will have brokers that have seen a lot of jewelry in their time working the counter. You may hope for a strong positive reaction to your piece, but the fact is, it’s likely that the broker has seen many more like your ring. This isn’t something to take personally, but it is a part of dealing with pawn shops that should be understood.

Well, there you have it! As you can see, pawning jewelry is a fairly simple and straightforward task, but it can become a bit emotional if you’re attached to your piece. Before heading into a pawn shop, make sure to properly clean the piece, check to make sure it’s in good shape, and do take appraisal paperwork with you.

Pawn Shop Money Loans San Francisco

August 15th, 2016

Most people that go to a pawn shop are actually trying to sell items that they have where they can get instant cash. This is why many pawn shops are located in areas where there are casinos as people are always looking for a way to get additional money.

However, pawnshops provide a completely different service which is the ability to borrow money. These were probably the original payday loan businesses, with the exception that they will only allow you to borrow money if you have some type of physical collateral. Here is how you can find pawn shop money loans in your area if you are looking for a way to get quick cash.

What Are Pawn Shop Money Loans?

Any pawn shop that you go into will give you many options in regard to how to get an instant amount of cash. For example, if you have a diamond ring that you have perhaps inherited, they can actually appraise the value of that ring, and then they will give you a fixed amount of cash on the spot. The value of the ring will likely be much more than what they are willing to give because they also have to make a profit by doing this type of transaction.

On the other hand, you can also use that ring is a form of collateral that they will keep as you take their money for a loan, and then pay them back with interest. It is a guarantee that you will eventually pay back the money that you have borrowed, and you will receive it back once you have paid the loan plus interest off. To find one that will actually give you a loan like this, and do so with a reasonable interest rate, you have to do a little bit of research to find these exact companies.

How To Find These Pawnshops

Most of these businesses are listed in the Yellow Pages, although you can find them marketing their services online. The amount of time that it will take to get the loan will only be a few minutes in most cases, not counting the amount of time it will take to draw of the contract that you will sign. These companies typically pay you in cash, unless it is a large amount where they will issue you a check or simply make a deposit into your bank account. Once it is done, you will have the money available to make the payments that you need to, allowing you to take care of your financial matters that are of immediate concern.

How To Choose The Right One

The best company is always going to be one that can provide you with the money quickly. They will also have a reasonable interest rate on the money that they will let you borrow. If you are in a large city, you may have to contact several different pawnshops just to see what they have to offer, whereas smaller communities typically only have one or two. Saving just a percentage point on that interest rate can save you a substantial amount of money. That’s why it pays to do this research, and finally work with a business that will be willing to provide you with the loan.

Loans Versus Selling Merchandise Out Right

A common question that many people have is why would you actually take out a loan if you can simply sell the merchandise to get cash. Those that are proponents of simply obtaining the cash probably do not care that much about the item that they are selling. However, if this is a family heirloom, or a special piece of jewelry such as a wedding ring, this is something that you will definitely want to get back. It will be worth the money that you will pay for interest so that you can handle the payments that you need to make.

How Long Do You Have To Pay Off The Loan?

The amount of time that you have to pay off the loan can be several weeks, or it might be longer. For example, when you take out a payday loan, the entire amount needs to be paid off by the time that you get your next paycheck. Pawnshops can be a little bit more flexible, and may even allow you to make payments. These companies will do so simply because they are going to make more money on the interest that they will charge. If that’s what you would prefer to do, taking out a loan that is much more similar to what you would have in a bank, make sure that you do this research and find one that offers this option before taking out the loan at all.

Once you have found the best company, and you have filled out the paperwork, you will have access to the cash that you need. This may not be your most affordable option due to the higher interest, but it’s an option that you can take advantage of in the next few days. People will use pawn shop money loans because they need to have the money right now.

It is this added benefit that makes it possible for people to working with pawnshops, over a regular bank, providing them with the benefits that come with instant loans opposed to those that may lend you the money, but you may not see it until long after the time that it is needed.

San Fransisco Pawn Loan Shop Benefits

June 20th, 2016

If you’re in a pinch and need money in an emergency, there are a number of ways in which you can raise some cash. For instance, you can ask your friends or family members to lend you some money or you can get an advance from your workplace in case you have a job. However, many people do not have any of these options and they are forced to look for other ways to get cash in an emergency.

Many people do not know that they can get money at a reasonable rate of interest from a pawn shop and instead, they go to payday loan shops or other such companies offering money at a very high interest rate. There are a number of advantages of using a pawn shop for getting money instead of going to a payday loan shop or any other such company. Here is a list of some of the major San Fransisco pawn loan benefits.

San Fransisco Pawn Loan Benefits

Extremely Convenient

One of the biggest San Fransisco pawn loan benefits is that it is easily available. It is a win-win situation for everyone involved as you can keep a valuable as collateral and get a loan at a reasonable interest rate. For instance, you can keep jewelry, car and a number of the other valuable things as collateral with the lender to get loan.

As far as the amount of loan is concerned, it usually depends on the type of collateral. In case of jewelry, some of the lenders may offer you up to 80 to 90% of the value of the jewelry as loan. It is one of the best ways to raise fast cash as you just need to walk into the shop and ask for money.

Extremely Fast

When you ask for a loan from a bank or other financial institution, you will have to provide a lot of documents and the application process will take you a number of days. Also, the processing officer of the bank is going to take a number of days to decide on the loan application. They will approve the application only if the application satisfies their strict criteria but in this economy, it is extremely difficult to get loan approved by a financial institution in case you do not have a very good credit score.

On the other hand, if your application is in declined, you have just wasted a number of days. Also, you cannot depend on banks and other financial institutions if you need money in an emergency as they take a number of days to process and approve the application. When you want to get emergency cash, you just need to take the collateral with you and show it to the appraiser at the pawn shop.

Once the official appraiser appraises the item, a value for that item will be quoted to you and a percentage of the total value will be offered as a loan. Since this is a secured loan, the rate of interest is extremely reasonable and the term of the loan is also extremely reasonable. In most cases, you have up to 120 days to repay the loan.

Less Expensive

One of the most common misconceptions related to these types of loans is that these tend to be expensive. Nothing could be further from the truth. In fact, if you take all the fees into account, these loans tend to be cheaper than credit card late fees, utility reconnect fees, overdraft fees and a variety of other types of fees.

Since this is a secured loan, the rate of interest is much lower than the rates that are typically associated with payday loans. Also, you get generous terms for repayment which means you have a lot of time to get the money and repay the lender and get your things back from the lender.

When you’re comparing the cost, it is important to compare the fees you are going to pay as overdrafts, utility reconnection fee or other such fees to the overall interest you will be paying for the loan.

No Credit Check

Pawn shops do not carry out any kind of credit check on the borrowers as they only give secured loans. In other terms, if an individual is suffering from bad credit, the best way for that person to raise money is through a pawn loan. As no credit check is required, no such loan is reported on the credit reports.

Favorable Repayment Terms

When you take money out of your credit card or apply for a loan from a bank or another institution, you are required to be payback money each month. In other words, these institutions expect you to repay a part of the loan each month. However, there is no such requirement with pawn loans.

You only need to repay the interest on a regular basis but there is absolutely no need to repay a part of the principal each month. You can repay the principal whenever you want. In simple terms, you have a lot of time to repay the loan which is not the case with loans taken from banks and other financial institutions.

Extensions and Renewals

Similar to other loans, you can also extend as well as renew this type of loan. You will be required to pay only a part of the interest owed to extend the term of the loan.

Overall, there are a number of benefits of these loans. However, it is important that you take this loan only from a shop that is properly licensed and regulated by the state as well as local authorities. You also need to make sure that the shop is insured and the item you are placing with them as collateral will be locked up in safe. The staff needs to be properly trained and experienced.

The Best San Francisco Pawn Loan

June 8th, 2016

Your local pawn shop is a great place to visit if you want to find discounted second-hand items. However, your local pawn shop also offers loans. If you have valuable items that you no longer need and find that you need some cash to take care of some urgent expenses, a pawn loan could be a good option for you.

What is a pawn loan?

A pawn loan is a financial service offered by a pawn shop. The client brings in a valuable item such as a piece of jewelry, a watch, a laptop, a musical instrument or another item. If the client is approved for a loan, the pawn shop will keep the item as collateral and let the client borrow an sum of money that corresponds to the value of the item used as collateral. This is a quick and easy way to borrow money.

What are the main pawn loan benefits?

These loans are popular because they are very easy to obtain. You will not have to go through an approval process and pawn shops do not perform credit checks. You can qualify for a pawn loan as long as you have an item you can use as collateral. You can obtain one of these loans even if you have a bad credit score and wouldn’t qualify for a loan offered by a bank or credit union.

How much can you borrow?

The amount you can borrow via a pawn loan really depends on the item you want to use as a collateral. The best thing to do is to bring the item you want to use as collateral to different local pawn shops and see how much you can borrow against it. The amount you can borrow might vary from one pawn shop to another since the item might be valued differently in function of what the business has in stock at the moment, of how popular the item is and of the condition of the item.

How do pawn loans work?

The exact terms of a pawn loan can vary. In most cases, you will have to make a few payments to pay the loan back and get the item you used as collateral. One of the main pawn loan benefits is that most pawn shops will give you a grace period during which you can come up with the money to pay the loan back and get your item.

What happens if you cannot pay the loan back?

If you fail to make your loan payments on time and still haven’t paid the loan back after the end of the grace period, the pawn shop will simply keep the item you used as a collateral. Loan renewals are allows in some states, which means you can get even more time to pay the loan back as long as you can cover the interests you owe.

Are pawn loans expensive?

Pawn loan benefits include affordable interest rates. These loans are not more expensive than others ways to borrow money because using a valuable item as collateral means the loan is secured. The pawn shop can keep the item you used as collateral if you are unable to pay the loan back, which means that the pawn shop is not taking any major risks by letting you borrow money. This should make pawn loan a more affordable options than what lenders can offer if you do not have a good credit score.

How can you apply for a pawn loan?

All you have to do is bring your item to a nearby pawn shop and ask about loans. The item will be valued and you will get an idea of how much money you can borrow. You will have to fill out an application and should take the time to read the terms of the loan very carefully. Ask about the interests, late fees and find out when the payments will be due. You should also ask about extensions, grace periods and renewals. Do some research on state laws that apply to pawn loans before you go to a pawn shop to get a better idea of what to expect.

Is a pawn loan a good option for you?

Applying for a pawn loan can be a good option if you need cash right away and do not want to go through the process of applying for a loan via a bank, credit union or another lender. You can qualify for a pawn loan even if you have a bad credit score or cannot prove that you have a source of income. The interest rates for pawn loans is usually very affordable since these loans are secured with a collateral. Avoid using an item that is valuable to you unless you are confident you will be able to pay the loan back on time.

There are many benefits associated with pawn loans since these loans are a very easy way to borrow money regardless of your situation. You can get one of these loans as long as you have an item that is considered as valuable by a pawn shop. The interest rates are usually affordable and applying for a pawn loan should be quick and easy. You should contact different local pawn shops or visit them in person to learn more about the loans they offer and to get an idea of how much your item is worth.

About San Francisco Pawn Loans

May 16th, 2016

Information About San Francisco Pawn Loans

If you need money in an emergency, there are not many options available to you. In normal circumstances, you can go to a bank or a financial institution to get loans. However, these institutions take a lot of time and require a lot of paperwork to approve a personal loan.

Also, they require the borrower to meet a number of requirements to approve the loan. This is the reason that pawn shop loans have been gaining a lot of popularity in the recent years. If you are currently looking for emergency cash, here are some San Fransisco pawn loan benefits for you to consider.

San Francisco pawn Loan Benefits

When it comes to San Francisco pawn loan benefits, one of the biggest benefits is that it is extremely easy to get this loan. You just need to be take the collateral with you to the pawn shop and ask them to give you a loan. They will check the value of the collateral and ask you to fill paperwork based on the valuation done by the appraiser. They will also tell you the terms and conditions of the loan along with the payment date of the loan and the interest rate.

If you agree with their loan amount, interest rate and other terms and conditions, you can sign up for the loan by signing some papers and they will give you the cash right here. In addition to the cash, they will also give you a receipt that will also have the terms of the loan. You will need to keep this receipt with you and return it on the repayment date to get your collateral back after paying in full.

Many people suffering from bad credit face the problem that they are not approved for loans by banks and other financial institutions. In other words, people with bad credit history due to circumstances beyond their control are unable to get loans from banks. They have nowhere else to go and one of the best options for them is to take loan from a pawn shop.

Pawn shops do not carry out any credit checks. They are not concerned with the credit score or credit history of the borrower as the only thing they are interested in is the value of the collateral. The collateral completely secures the loan. So, they are not really worried whether the borrower is going to pay back the money or not as their loan is secured by collateral. If you do not repay, they will simply keep the collateral and close your loan account.

When you apply for a loan from a bank, you will have to wait for a number of days to get your application approved. Similarly, other loan options also require you to wait for at least 24 hours and charge a very high interest rate. On the other hand, when you go to a pawn shop for a loan, you are approved instantly and money is given to you in cash instantly. You do not need to wait for processing or any other thing. You just walk in and walk out with cash.

Another big advantage of a loan from pawn shop is that in case you are unable to repay the loan, it won’t affect your credit score. On the other hand, if you cannot to repay the loan taken from a bank or other financial institution, it will have a bad effect on your credit score. The pawn shop will simply sell your collateral to recover their dues. On the other hand, the bank will not only auction the collateral but they will also report it to the credit bureaus and bring down your credit score.

Another important thing that you need to keep in mind is that in case you are unable to repay the loan on the initial agreed upon date, you can ask for an extension of the loan. Most of the pawnshops offer extension for payment of a small fee. When you extend the loan, you will be asked to pay the outstanding interest and then your loan will be renewed for a further period of 3 to 4 months depending on the terms and conditions of the original loan.

As far as the collateral that is accepted by the pawnshops is concerned, it usually includes jewelry, vehicles or other types of valuables. When you walk into a pawn shop with your collateral item, its value will be appraised by a professional appraiser and they will tell you the maximum loan amount they can offer you for that particular item.

It is important to mention here that all the pawn shops are individual businesses and the terms and conditions of loan at one shop may completely differ from the terms and conditions at another shop. Similarly, there can be huge variance in the rate of interest charged by various shops. So, if you want to get the best interest rate, you may go to a number of pawn shops to find out the lowest interest rate for the loan.

These are also very flexible. If you have the money to repay the loan at an early date, you can repay the money at any time and pick your item.

There are a number of pawn shops in all the locations that offer loan at competitive interest rates. It is important to keep in mind that the interest rate charged by pawn shops is going to be higher than the interest rate charged by banks. However, the advantage is that they will pay you instantly and won’t perform any credit checks or any other types of checks.

So, when you are looking for emergency cash, go to a few pawn shops in your location with a valuable item to find out the maximum loan amount and interest rate. It is one of the best ways to get cash in an emergency.

Where To Get Pawn Loans In San Francisco

May 5th, 2016

Pawn Loans In San Francisco

There are a number of options available to you if you need money. For instance, you can go to a bank or other financial institution to get a loan. However, you may not be able to get loan from a bank or other financial institution in case you need money in an emergency.
In such cases, you need to look for other sources of raising money quickly. One of the popular ways of getting cash in an emergency is pawn shops. They can lend you money at affordable interest rates. Here is list of some of the other pawn loan benefits.
Pawn Loan Benefits
If you have something to pawn, it is one of the most efficient ways to get instant cash without any hassle and time-consuming paperwork. On the other hand, if you want to get a loan from a bank, you have to go through a lengthy loan application process where you are needed to provide a ton of paperwork and offer something as collateral to be approved for the loan.
The whole process takes a lot of time and in many cases, loan is not approved which means that the whole exercise needs to be started again by applying to other banks. Many people these days prefer pawn loans when they come to know the many pawn loan benefits.
One of the biggest advantages of getting a loan from a pawn shop is that the loan is almost guaranteed. As long as you have something to pawn, you are going to get the loan approved. Once the loan has been approved and minimal paperwork is finished, you will be paid money instantly in cash. You don’t need to wait for 24 hours or more after the approval of the loan to get money.

You just need to walk into a pawn shop to get the money. It is a very simple process that does not involve complicated paperwork and terms and conditions.
Another big advantage of getting a loan from a pawn shop is that there is no credit check required. When you apply for a loan to a bank or financial institution, you credit score will be checked. If you have bad credit history, your loan is unlikely to be approved. It is also important to mention here that many credit checks also bring down your overall credit score. So, when you apply for a loan from a pawn shop, the only thing that is needed is a valuable against which you will be given the loan.
If you take loan from a pawn shop, it is not going to affect your credit history in case you are not able to pay back the loan. In other words, if you default on the repayment, the pawn shop is going to sell the collateral and it won’t be reported to the credit bureau. On the other hand, if you take loan from a bank or financial institution and are unable to pay off the loan, the collateral that you have given to the bank will be auctioned and it will also be reported to the credit bureaus which mean that it will affect your credit history.

 

As far as the paperwork requirement is concerned, the applicant does not need to provide employment history or bank statement or any other such document. Also, the repayment terms as well as interest rates are flexible and can be negotiated with the manager. There are absolutely no questions asked when you take out a loan from a pawn shop and you are free to use the money as you see fit. In other words, there is no restriction on the use of funds.
You can take almost any valuable item to get loan. The items usually include jewelry, vehicles as well as other items. The amount of the loan is usually kept to a certain percentage of the valuation by the appraiser.
The application process is extremely simple. You just need to fill up a form and sign at a few places. Here is how the process works.
Generally, you need to bring a valuable item to the pawn shop where it is appraised by a professional appraiser. The price is given by the appraiser along with interest rate and various other terms and conditions. Keep in mind that most of the shops are independent businesses and terms and conditions may vary from one to another. Similarly, the interest rate will also vary from one shop to another.
If you agree to the terms and conditions as well as the amount of loan offered and the interest rate, you will instantly receive the money in cash. As far as the term for loan is concerned, most of the shops offer loans for a period of 2 to 3 months.
While the loan is initially given for a fixed period of time, it is important to mention here that most of the pawn shops will offer an extension on the loan. When you apply for an extension, you extend the length of your loan. However, most of the shops require you to pay a part of the interest before the extension.
Overall, these are some of the major pawn loan benefits. However, it is important that you take loan only when you need money in an emergency and do not have any other means to get cash. It is also important that you repay the loan on time to get back the collateral. Do not forget that the collateral will be sold by the pawn shop in case you do not pay back the loan on time or do not get it renewed.

The Best San Fransisco Pawn Loan Business

April 18th, 2016

If you have ever been in a situation where you are in need of fast cash, one of the most well-known sources for a short-term loan is called a pawn shop. You have probably seen many of these if you have ever visited an area where there are casinos such as Las Vegas, Reno, or Atlantic City.

 

These businesses are strategically positioned in areas where people are bound to lose a substantial amount of money and they will want to obtain more. Some of these people will have valuable merchandise such as a ring, necklace, or an expensive watch that they can pawn for immediate cash. This article will address how you can find a San Fransisco pawn loan business that can help you out if you are in a tight financial situation.

How Pawnbrokers Work

When you go to these companies, you will either meet one of the workers or the owner of the company, an expert in assessing the value of physical merchandise. Upon entering the facility, you will see a multitude of items that are for sale, all of which has been acquired by the pawnbroker from people that needed to get access to immediate cash.

 

It should be noted that all of the items that are being sold are typically in very good condition, and the valuable jewelry that they have is almost always authentic. The owners of the business will be able to assess the value of each and every item before providing people with the cash that they need, and then will flip that merchandise for a substantial profit.

How Can You Get A Loan From A Pawnbroker?

A loan from a pawnbroker works in a similar way to how you can get a cash loan from a payday loan company. The primary difference is that a payday loan lender is lending you the money based upon the knowledge of a paycheck that you will soon have that will pay back their loan plus interest. A pawnbroker, on the other hand, is looking at the value of the asset that you are bringing in, and will use that to base their decision on whether to loan you money or not. They will keep it for you, and in the event that you are not able to pay them back, they can sell that item and recover the money that they have lost.

Payday Loan Businesses Versus Pawnbrokers

Before you decide to work with one of the many Bay Area pawnbrokers to get a short-term loan, you might wonder why you would choose to work with this type of company instead of a payday loan business. Both of them offer you the ability to get a short-term loan, but there are many advantages to using a pawnbroker instead. First of all, you may be able to get more money from a pawnbroker because they are going to base that loan upon the assessment of the collateral that you are leaving with them.

For example, if you have a ring that is valued at $10,000, you might be able to get is several thousand dollars loan from a pond broker. However, if you go to a payday loan business, even if you have several thousand dollars coming in with your next paycheck, certain companies have a limit to how much money they can lend. For people that need cash immediately, and a substantial amount, as long as you have valuable merchandise that you can use for collateral, you can get larger loans from San Fransisco pawn loan companies.

How Do You Find Legitimate San Fransisco Pawn Loan Providers

The easiest way for you to locate these businesses today is to use your smart phone or a computer. Almost every pawnbroker in the Bay Area has a website that will show you what merchandise they have, what loan options are available, and also their physical location. Some people will actually bring a vast assortment of valuables including rings, pendants, and even family heirlooms that are known to have a large value.

 

People can either exchange the item for cash right then and there, or they can use it for collateral for a loan. You can find legitimate pawnbrokers by looking online for websites that have provided a review of the different businesses that are available. If people have had a good experience with any of these companies, or even a bad experience, this will be public information that you can access. The business that has the most positive feedback is likely your best choice for obtaining a loan, or outright selling the merchandise that you have for cash. It is through the efforts of others that have taken the time to present feedback on each of these companies that you can locate the most legitimate one.

After you have found a company to work with in the Bay Area, you can stop by to talk about obtaining your loan. As long as your merchandise is extremely valuable, you should have no problem at all getting a few hundred, or even a few thousand dollars.

 

You need to make sure that you pay the loan off as agreed, otherwise you could face penalties such as extra fees and additional interest. These simple tips for finding a San Fransisco pawn loan company will ensure that you will get the fast cash that you need. As long as you are able to pay them back by the time that both of you agreed, this will be a good decision for everyone involved, and you will end up getting your merchandise back.