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Tips: the PAWN LOAN
Do you need a quick, short-term loan? Do you have any knick-knacks and gadgets, jewellery or tools that have a value? Here's how to cash in on that value you've got when you're in need of some quick cash.
1. Decide how much money you need. By having an amount in mind. Saying to the pawnbroker, "I need to get as much as I can," is not very helpful for you or the pawnbroker.
2. Personal property with resale value. Test and clean the item. Looking around the garage and picking up something that hasn't been used for years and is covered in dust or grease will only make the pawnbroker's job more difficult. If it looks like you don't care about or value the item, the pawnbroker certainly won't place much value on it, either.
3. If you have an unusual item or collectible, it may be helpful to have a manual and maybe something that would indicate its value. A receipt or a search printout from the internet would be helpful.
4. Call the pawnbroker to be sure it is an item he is interested in taking. Lots of pawnbrokers no longer take VHS tapes, VCRs or car stereos.
5. Make sure the item is complete. TVs without remote controls, tool sets missing pieces, video cameras without cords and chargers are far less valuable than complete items.
6. Have adequate ID. No reputable pawnbroker will accept an item without proper identification. A current Drivers license is the easiest. Remember any information you supply will be forwarded to the police.
7. Negotiate the price. The pawnbroker has to take in items cheaply so they can turn around and sell them at a bargain price and still make money. Sometimes the amount offered can be boosted a little, particularly if the item is easy to resell. Saying to the pawnbroker, "I need to get as much as I can," is not very helpful. It is better to say, "I need $44.53 to cover my utility bill."
8. Keep your pawn ticket in a safe place.
9. Mark the due date on the calendar. Keep in mind that you can redeem the item or pay interest anytime before the due date.
10. If you are unable to redeem the item by the due date, you may be able to extend the loan by paying a safe keeping fee.
11. Pick your item up well before the due date. Don't wait until the last minute to redeem items you cherish. Invariably, things can happen at the last minute that may cause you to lose your items. The pawnbroker has to sell items that are not redeemed on time to recoup his costs and replenish his cash supply for loans.
12. Establish a relationship with your pawnbroker. If he knows you take care of your stuff, pick up your loans on time, and are generally in a good mood, he may be more generous with his loans. If you take him broken, dirty stuff, fake jewellery, and try to hurry him, he will not see you as a valuable customer.
13. Even if you default on something, it is still OK to do business with that pawnbroker.
14. Pawnbrokers have to consider that you may not come back to get the item. This uncertainty will play a large factor in the amount he loans on items in the event he has to resell it to recoup his investment. Most people return to redeem their pawned items, but if you look around his store, you will see that most of the things he has for sale are things people promised to come back to redeem but failed to do so.
15. Pawnshops are often a great place to pick up bargains on unredeemed goods. If you don't mind used jewellery, video games and movies, it is hard to beat the prices at pawnshops.
Do you need a quick, short-term loan? Do you have any knick-knacks and gadgets, jewellery or tools that have a value? Here's how to cash in on that value you've got when you're in need of some quick cash.
1. Decide how much money you need. By having an amount in mind. Saying to the pawnbroker, "I need to get as much as I can," is not very helpful for you or the pawnbroker.
2. Personal property with resale value. Test and clean the item. Looking around the garage and picking up something that hasn't been used for years and is covered in dust or grease will only make the pawnbroker's job more difficult. If it looks like you don't care about or value the item, the pawnbroker certainly won't place much value on it, either.
3. If you have an unusual item or collectible, it may be helpful to have a manual and maybe something that would indicate its value. A receipt or a search printout from the internet would be helpful.
4. Call the pawnbroker to be sure it is an item he is interested in taking. Lots of pawnbrokers no longer take VHS tapes, VCRs or car stereos.
5. Make sure the item is complete. TVs without remote controls, tool sets missing pieces, video cameras without cords and chargers are far less valuable than complete items.
6. Have adequate ID. No reputable pawnbroker will accept an item without proper identification. A current Drivers license is the easiest. Remember any information you supply will be forwarded to the police.
7. Negotiate the price. The pawnbroker has to take in items cheaply so they can turn around and sell them at a bargain price and still make money. Sometimes the amount offered can be boosted a little, particularly if the item is easy to resell. Saying to the pawnbroker, "I need to get as much as I can," is not very helpful. It is better to say, "I need $44.53 to cover my utility bill."
8. Keep your pawn ticket in a safe place.
9. Mark the due date on the calendar. Keep in mind that you can redeem the item or pay interest anytime before the due date.
10. If you are unable to redeem the item by the due date, you may be able to extend the loan by paying a safe keeping fee.
11. Pick your item up well before the due date. Don't wait until the last minute to redeem items you cherish. Invariably, things can happen at the last minute that may cause you to lose your items. The pawnbroker has to sell items that are not redeemed on time to recoup his costs and replenish his cash supply for loans.
12. Establish a relationship with your pawnbroker. If he knows you take care of your stuff, pick up your loans on time, and are generally in a good mood, he may be more generous with his loans. If you take him broken, dirty stuff, fake jewellery, and try to hurry him, he will not see you as a valuable customer.
13. Even if you default on something, it is still OK to do business with that pawnbroker.
14. Pawnbrokers have to consider that you may not come back to get the item. This uncertainty will play a large factor in the amount he loans on items in the event he has to resell it to recoup his investment. Most people return to redeem their pawned items, but if you look around his store, you will see that most of the things he has for sale are things people promised to come back to redeem but failed to do so.
15. Pawnshops are often a great place to pick up bargains on unredeemed goods. If you don't mind used jewellery, video games and movies, it is hard to beat the prices at pawnshops.
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