Learn How to Apply for a Pawn Loan

A pawn loan is a non-traditional, short-term loan that leverages the worth of a specific item (such as gold jewelry, silver jewelry, luxury watches, and cars) to gain access to instant cash. The concept of a pawn loan goes back to the Ancient Greek and Roman Empires. They were also quite common in China more than 3000 years ago.

A pawn loan differs from a traditional bank loan in a few major ways. First, a pawn loan utilizes an actual physical object as leverage for the monies loaned. In other words, while a traditional bank loan is based on a number of intangibles including credit score and pure faith that the loan will be paid back by the consumer, a pawnbroker bases their decision on a physical item. When the loan is paid back in full, the pawned item is once again in full possession of its owner.

Second, a pawn loan doesn’t take credit rating/score into consideration. This provides opportunities for those who have recently undergone bankruptcy, home foreclosure, and any other financial disaster.

Third, a pawn loan is granted on the spot, while a traditional bank loan may take much longer to obtain. Also, a pawn lender grants its clients the ability to pay the loan back as soon as possible, without penalty for early repayment. This is ideal for those who are in temporary financial binds and know an influx of cash will be coming as result to a pending job or the close of a business deal.

How to Get a Pawn Loan

Gaining a pawn loan is quite easy. Here is how it works:

  1. Select a valuable item (gold jewelry, gold bullion, luxury watch, etc.) to be pawned.
  2. Locate a pawnbroker with an exceptional reputation.  Also, it is recommended that one seeks out a specialized broker for a particular type of item being pawned.
  3. Provide your ID when you arrive at the pawnshop.
  4. Gain an appraisal from the pawn broker.
  5. Agree on the loan amount and to the terms of the loan.
  6. Cash is granted on the spot.

Once approved for the pawn loan, you will then be required to make payments according to the set terms and conditions. The sooner the loan is paid off, the better.

In order to find a reputable pawn loan, experts recommend a quick Internet search. Online pawn shop customer reviews can reveal a lot about a pawn broker. Additionally, those that belong to The Better Business Bureau are a safe bet.

Posted in Pawn Shop at September 4th, 2012. Comments Off on Learn How to Apply for a Pawn Loan.

How to Sell Your Rolex Watch to a Pawn Shop for Top Dollar

Do you currently own a pre-owned Rolex watch and need to generate some instant cash? You will be thrilled to learn that there are high-end pawn shops that are throwing thousands of dollars into used Rolexes. We hope the following tips will help you gain top dollar for the sale of your Rolex DateJust, Rolex President, Rolex Sea-Dweller, Rolex Yacht-Master, Rolex Submariner, or any other Rolex model:

  • Locate a Reputable Pawn Shop that Specializes in Purchasing Rolex Watches – There are several pawn shops out there in the world, but very few truly know the worth of Rolex watches or are willing to truly pay what they are worth. Thanks to the Internet, you can search for leading pawn shops that live to buy Rolex. Seek out customer reviews online prior to reaching out to prospective pawnshops.
  • Know How Much Your Rolex is Worth – Before trying to make a deal with a pawn broker for your pre-owned Rolex, it is vital that you know exactly what your watch is worth. For instance, if you want to sell your Rolex DateJust that is in great condition, try Googling Pre-Owed Rolex DateJust Price and browsing through reputable Websites. Locate your exact watch that is in a similar condition. It is also a great idea to go to get your watch appraised at a jeweler.
  • Don’t Cave In to a Bad Deal – Tough financial times can cause the best of us to make impulsive decisions. However, you must be aware that Rolex watches are at a premium in today’s economy. Don’t allow for a pawnbroker to take advantage of your current situation. Stand up for the worth of your watch and be willing to walk away if you must. There are amazing pawn shop Huntington Beach brokers who will pay you what your Rolex is worth.

Beyond Rolex watches, top pawn dealers are looking to buy gold, silver, platinum, and diamonds for a premium. This is due to the questionable state of the world economy. You can sell gold and other items at market rate and reap the benefits. The secret to your success is to build a relationship with a pawnbroker that you trust. They are sure to be there when you need them most!

Posted in Pawn Shop at July 26th, 2012. Comments Off on How to Sell Your Rolex Watch to a Pawn Shop for Top Dollar.