Are you having a hard time making rent this month and need a short-term loan? It can be quite difficult to get a bank loan in today’s economy, especially if you have a low credit score or recent bankruptcy. Whatever you do, don’t lose hope as you navigate through your financial woes.
To make ends meet you may want to take on a second job, look for a more lucrative career, or consider taking pawn loans. This popular, non-traditional loan will see you use a possession as collateral in an effort to gain instant cash when financially strained.
Common Items Pawned
- Jewelry. One can easily pawn gold and other precious metals such as silver and platinum in today’s economy.
- Diamonds. Pawn diamonds for top dollar at high-end pawn shops.
- Watches. Top quality watches such as Rolex, Tag Heuer, and other prestigious brands are ideal for gaining much needed cash.
- Estate pieces, antiques, and art. Rare family heirlooms can be quite valuable. When pawning, it is important to fully research their worth to gain the most equitable loan.
- Electronics. Items such as flat panel TVs, computers, iPads, and iPhones can provide some cash. They aren’t as valuable as precious metals or diamonds, but they can help make ends meet.
- Cars. An auto pawn can help you raise a substantial amount of cash. To obtain one, you must own the car outright and be able to provide proof of ownership.
The Definition of a Pawn Loan
A pawn loan allows for you to gain cash while using a valuable item as collateral. Unlike a traditional loan in which a lending institution decides to grant a loan based on faith and one’s credit score, if one cannot repay a pawn loan, the item becomes the property of the pawnbroker. Each month you are required to make a minimum payment by a specific day. In the case that a payment isn’t met, fees and increased interest rates are applied to the loan. The sooner you pay off the loan, the less interest you will pay.
If you have found yourself short on cash for rent, this may be a perfect option for you and your family. It is important to find a lender that you trust and know exactly to what terms you are agreeing.
Find a highly regarded pawnshop Orange County as you work through your financial struggles. It may truly help you find your footing!
Posted in Loan Options
at November 1st, 2011. No Comments
This week the Wall Street Journal shares that pawn shops are providing value to consumers throughout the United States. The report points to the fact that banks are failing consumers because of their unwillingness to lend to everyday men and women. The article states that “borrowers on the fringes of the financial system are gravitating to these companies because they offer short-term loans” instantly to help individuals and families get back on their feet.
Additionally, on Wall Street stock shares of nationwide pawn chains have jumped to record highs in recent weeks. Experts agree that it is possible that shares will continue to rise in the coming months and years. Additionally, it is expected that the number of pawnshops throughout the country will rise exponentially in the coming years.
Top Reasons for Gaining Pawn Loans
The article points out that people normally utilize pawn shops when they are short on rent, need extra funds to cover monthly expenses, and for unexpected emergencies. The reporter also reveals that pawn loans on electronics, jewelry, gold and other items are only beneficial when they are paid off in a timely manner.
Fees and Interest Rates
Because pawn loans are intended for short-term use, the reporter noted that pawn loan fees and interest rates can be quite high. The borrower is made aware of this when the loan agreement is drawn up. While rates can be quite high, the industry is becoming more and more competitive each day. This is why one should carefully choose Orange County pawnshops offering high quality service and affordable rates.
Selling Valuable to Pawn Shops
Not covered in the Wall Street article is the option to sell jewelry, gold, silver, diamonds, art pieces, antiques and electronics to high end pawn shops. This is another way to generate instant cash for financial emergencies. It is recommended that prior to selling a precious item to a pawnshop, one should take time to carefully research its worth and shop around for a pawnbroker with a powerful network of resellers.
To read the full Wall Street Journal article surrounding pawnshops go to: http://online.wsj.com/article/SB10001424052970203658804576639431624988572.html
Posted in Pawn Shop
at October 25th, 2011. No Comments
Are you in the process of planning your future with your loved one and looking for ways to save money in the process? It has become quite common for future brides and grooms to discover their dream rings and other jewelry in high-end pawn shops.
Because of today’s challenged economies and the increased gold prices, you will be amazed at what you can find at pawnshops.
To make the most of your time during your search:
- Find a specialty pawn broker. Many pawn shops specialize in various products including fine jewelry, Rolex watches, electronics, and/or estate pieces. With a little research, you can find a dealer who may possess exactly what you are looking for and more.
- Know exactly what you are looking for and how much you want to spend. Are you looking for a basic wedding ring or one with lots of bling? It is best policy to know which brand and style you’re looking for and to determine its worth before you try to strike a deal.
- Consider selling jewelry or watches for store credit. Most pawn shops will give you store credit if you sell gold, silver, platinum or Rolex watches. Now is a great time to sell and gain because precious metals prices are solid. You can then use that credit/cash for the purchase of your wedding rings.
- Work with a broker you trust. If you begin dealing with a broker that seems shady, know that you can leave and find a better one. Don’t get caught up in the emotion of your purchase if the deal isn’t right or the broker is pressuring you.
Once you get started on your search, you will be amazed at how much fun the process can be. You may also find yourself the owner of a much more impressive and beautiful ring than you imagined. Purchasing pre-owned jewelry can save you thousands of dollars, while introducing you and your loved one to exciting contemporary and vintage pieces. Search for Orange County pawn shops today!
Posted in Pawn Shops
at October 10th, 2011. No Comments
Auto Pawns Loans are easy at our Pawn Shop in Huntington Beach.
Have you ever heard the term “auto pawn” and wondered what the process is all about? The concept is quite simple when broken down. Basically, if you own a car outright, you can borrow against its equity for a short-term loan.
For example, in the case that your car is worth $10,000, you can in theory borrow up to $10,000. You would then agree on terms and conditions that require a monthly payment and include an interest rate. If you fail to make your payments on time or fail to pay you will most likely be subject to fees, a higher interest rates, and chance losing your vehicle.
How Does an Auto Pawn Differ from a Bank/Traditional Loan?
- No credit checks are required and no reporting to credit bureaus – When you apply for a bank loan, your credit is run and granted loans show up on your credit report. Auto pawn, jewelry pawn, and gold pawn loans don’t require credit checks. This is extremely helpful for those who have undergone a recent bankruptcy, home foreclosure or have a low credit rating.
- The car is used as collateral – Traditional loans are based on faith that you will pay the loan back. On the other hand, when you participate in a pawn loan, the item pawned is used as collateral. If for some reason you default on the loan, you will lose the object you choose to pawn.
- Auto pawn loans are usually granted instantly – Once you are approved for the loan, you can usually expect cash on the spot. They are great for emergencies. Some traditional loans can take quite some time to get approved.
If you are in a tough spot financially, you may want to consider an auto pawn. For approval, you must share proof that you own your car outright, have auto insurance and be able to make monthly payments. The sooner you pay off the loan the better, as interest quickly accumulates. Make sure you think carefully about your decision and find a pawn shop Huntington Beach that you trust.
We wish you luck as you find a deal that works best for your future!
Get the Cash you need with no credit checks!
At Pawn Shop Huntington Beach, you can borrow instant cash money against your car or truck in minutes. Sound simple? That’s because it is. Our quick and easy auto pawn loans get you the cash you need with an affordable payment plan. With us, you decide how much money you want to borrow and we’ll set up a payment plan to fit your budget.
Bad Credit – OK
We can loan you cash money even if you have bad credit or you’ve had a prior bankruptcy or repossession.
Borrow up to 60% of the value of your vehicle
If you own an vehicle that is paid off or nearly paid off, we can give you an auto pawn loan from $2500 up to half the wholesale value of your car with interest rates starting at just 5% per month.
Posted in Loan Options
at April 28th, 2010. Comments Off on Auto Pawn