Pawn & More Collateral Loans – How Does It Works
Sometimes getting that emergency loan is not as easy to come by as all the commercials make it seem. So, it’s not yet payday and your circumstances will not allow you to do Payday Loans. Believe it or not, this is a common scenario and there is an easy and affordable way out. If you’re reading this then you’ve not thought about a visit to a pawn shop near you. So, keep reading… you are in the right place.
What Is Pawning and How Does It Work?
Pawning is the simple process of exchanging your personal valuables for fast cash. Your valuables can range in value yet covering everything from watches, jewelry, musical instruments to automobiles and water sporting equipment!
Of course, the item of choice must dictate the amount of money you need. Although it would not be so foolhardy to pawn your $1000 possessions for a loan of $100. This method is known as getting the best interest rate, subsequently, requiring only $10 to pick up your item and paying the $100 loan that you borrowed. Yes, that example is quite far-fetched; but only borrowing as much as you necessarily need will greater the chances of you paying back the loan with the interest and retrieving your item(s) back!
So…still reading! Great! I’ve piqued your interest! Let’s get started!
First, you need to find a credible pawnbroker near you. Search online Pawn Shop near Pompano Beach, FL and Pawn & More would be your best bet. Why? Pawn & More has the best rates in this part of the country. This definitely makes the loans much more affordable and attractive than what the local competitors have to offer.
But what if you are far from Florida or any other broker? No problem. Pawn & More takes advantage of technology to give our customers the best service even outside of the Pompano Beach area. www.ddpawnloans.com is Pawn & More’s shop available online where you can contact us via our website for a real-time chat or you can just call (954) 993-0562.
By sending a picture of your valuable, one of our representatives can assess your property quickly and give you an estimate promptly, make arrangements to do the next step of business, leading to the pick-up of the item you want to use as collateral for the loan. Of course, your legal identification will be needed just to confirm you are the current owner of the property. Expect a few questions aimed solely at protecting both the parties including the confirmation that the item actually belongs to you.
Once that is sorted out the rep will give you a preliminary offer after which you will negotiate the offer and come to an agreeable loan amount. You are then given our terms and conditions of the loan which are highlighted briefly in the next section.
Pawn & More’s average loans start at $1000 but as mentioned earlier everything of value is considered before committing to the loan transaction with you. Like a majority of many other pawn shops, interest is charged every 30 days. This means whatever interest is determined at the time of your agreement should be paid to the broker at the end of the 30 days without fail.
What if I Fail To Pay The Interest?
Failure to submit this interest for whatever reason amounts to a default on the loan and it comes with some consequences. What are these consequences? You lose your item to the pawnbroker but you keep the money that was loaned to you. When this happens, you stop paying the interest and don’t pay the loan back and the best part is you keep the money without any penalties. But in case you opt to redeem your possession before it’s disposed of, you’ll have to pay all the accumulated interest fees and pay the loan back as well.
So whether you are near Pompano Beach, Florida or not but are within reasonable distance for us to serve you get in touch with us for expeditious collateral loans. We’re always more than glad to assist our clients to get rid of financial distress with the utmost speed. We are your trusted financial partner in times of need.
What If I Change My Mind…”I Don’t Want My Item Back”
No fear, there is no breach of contract, you won’t be reported to the credit bureaus. And you will most certainly not be harassed by numerous phone calls and threatening letters! How amazing is that? It’s kind of like free money if you lose interest in your valuable and decide not to pick it up. You will owe the Pawnbroker nothing! Not even an explanation! However, if you have the reverse definition of “buyer’s remorse” and do want your valuable back, you can always attempt to buy it back for whatever the Pawnbroker is selling it for. But don’t be surprised if the price is higher than you expected. On the other hand, you were the original owner, which could be taken into consideration during the sale! *Fingers crossed*