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!