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Pawn Process

In need of some quick cash or just looking to sell unused items? Consider taking belongings to a pawnshop. Pawning items is a great way to receive cash in hand for goods within minutes. The money is either given to a customer in the form of a loan with the item held as collateral or the customer can sell the item outright for a cash payment.

Almost any item can be pawned. Popular belongings that are pawned include jewelry, electronics, guns, and instruments.

Pawnshop Loans For Items:

  1. Take item(s) to the pawnshop
  2. Have the item appraised by a pawnbroker
  3. Receive cash and pawn ticket (receipt, loan details) for an item
  4. Pay the loan back

Questionnaire
Before an item is appraised the pawnbroker will ask a series of questions. They want to make sure the customer is the rightful owner of the item. Pawnshops work closely with local law enforcement to make sure items being pledged for a loan or sold to the pawnshop are not stolen. Rest assured the pawnbroker is not being rude or nosy they’re just doing their due diligence to obey the law.

Loan Details and Payment
Once the item is appraised the pawnbroker will explain the loan structure and pay cash for the item.

Pawnshop Procedures and Honor System
In Florida, pawnshops are regulated and licensed by the Department of Agriculture and Consumer Services. We use certified scales to make sure we give you the most honest deal possible. The details of the transaction will be noted on the pawn ticket. This acts as a receipt, it has a description of your item as well as the transaction date. It also contains important loan details like fees, expiration dates, and interest.

Repayment
The loan can be paid back any time before the expiration date. Once the expiration has expired and someone has failed to pay back the loan the item, which in this situation is the collateral, will become the pawnshop’s property.

Selling Items To A Pawn Shop
This process is similar to the loan option, but instead of having to pay the pawnshop back, the customer sells the item to a pawnshop for a cash payment.

  1. Take item(s) to the pawnshop
  2. Have the item appraised by a pawnbroker
  3. Receive cash payment

Length Of Process
Both options listed above take an average of ten minutes and customers leave with cash in hand.