Frequently Asked Questions
Buy and sell with confidence knowing we offer a customer satisfaction guarantee. We also offer free layaway.
How does a pawn loan work?
We loan you money based on the value of the collateral you bring to us. It is not affected in any way by your credit rating or pay schedule. Pawn loans are an easy way to borrow money without having to go through the hassle of a credit check.
A typical pawn loan usually has a term length of 30 days (but may vary by state), plus a 30-day grace period. On your due date, you have the option to pay your loan in full and redeem your item(s); or you may choose to extend the loan (if applicable) by simply paying the interest and any fees that are due.
Should you choose not to repay the loan, your pledged goods will simply be forfeited on the day following the due date of the loan. Donít worry. Nothing will be reported to the credit bureaus.
What is a renewal?
If you are unable to pay back your pawn loan in full on its due date for whatever reason, you may decide to renew the loan, if permitted by state law. This option goes further than an extension and may be a better option for you.
With a renewal, you pay only the amount of interest and fees that have accrued on the pawn loan and we will write a new pawn loan on the same items you originally pledged. The principal amount of the pawn loan will remain the same, as does the interest rate, but the due date will be reset for the full loan term.
How do you determine an item's value?
We base the dollar amount of the pawn loan on the current market value of your item while also taking into consideration the itemsí condition and our ability to sell the item. Whether we are determining the loan value on a television or tool, we use many various tools to determine an itemís value to get you the most money we can for your merchandise.
Is my collateral safe while in pawn?
Although you have pledged your item as collateral to obtain a pawn loan, you still own it, and we take the responsibility of keeping your property safe and in good condition, very serious. We keep your merchandise and all of its accessories (remote controls, chargers, etc.) with your item and store it in a secure area. Your item will remain safely stored until you pay your pawn loan in full and claim your merchandise. Our shops are fully insured for the loan value of the items in our care.
Are pawn shops regulated?
Many states have regulated the pawn industry for years, and most pawnbrokers are licensed and regulated as well. We are expected to adhere to such federal laws as Equal Credit Opportunity Act, Patriot Act, Truth In Lending Act, Fair Credit Reporting Act, and Federal Trade Commission Rules regarding Data Privacy and Security Transfer, as well as Federal Firearms Licenses for all of our shops dealing with firearms. In addition, we are also regulated by the Treasury Department, the Federal Trade Commission (FTC), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).
What can I pawn?
At Pawn King, we pride ourselves on providing pawn loans on most anything of value. While the current market value and the condition of the merchandise presented to secure a pawn loan plays a vital role in determining how much we can loan, these are the types of items most commonly brought to us for a pawn loan:
What do I need in order to pawn something?
Bring us an item of value along with a valid form of I.D. such as a driverís license, state issued identification card, a military I.D. or your passport.
How does Pawn King determine the condition of an item?
We make a physical assessment of the functionality and appearance of the item you are pledging for a pawn loan. All items will be thoroughly tested to ensure that they are in proper working order. If the item has been damaged (a cracked case, scratches, missing doors or lids, etc.) it will be considered to be worth less than an item that looks and functions like new.
Remember, you should always bring any accessories like game controllers, remote controls, manuals, the original box, etc., to ensure we give you the highest loan value possible. However, this is not required.
How does Pawn King determine the loan value of jewelry items?
First, we test the gold to determine the authenticity and karat weight of each jewelry item. Once the gold passes our tests, we will then weigh the item to determine its highest loan value. After we have determined a dollar value for the gold, we will then carefully test and evaluate each diamond by determining the approximate karat size, color, cut and clarity of the stone(s) to ensure we get you the most money possible for your jewelry.
If I call the store, will they quote me a loan value on an item over the phone?
Over the phone it is extremely difficult to give you a true estimate of what we will be able to loan. We must actually see the item. The condition of any item is an extremely important part of determining a loan value, not to mention we also need to test the item to make sure it functions properly and is in good working condition.
Do pawn shops ever take in stolen merchandise?
Believe it or not, less than 1 half of 1 percent of the items brought to a pawnshop are identified as stolen goods. Pawn shops are by far the worst place a person can liquidate stolen merchandise. We are regulated and work very closely with law enforcement officials. We train our staff on how to identify and look out for possible stolen property.
What are Pawn Kingís hours of operation?
All Pawn King Stores are open Monday through Friday from 9am to 7pm, Saturdays from 9am to 5pm. Currently we are closed on Sundays.
Are there any items Pawn King will not accept for a pawn loan?
Pawn King may not accept items based on poor condition, functionality or market demand, and we never accept items with a missing or altered serial number. Please call your local Pawn King for more details.
A pawn is a short term loan using a personal possession, such as gold and jewelry, as collateral for the loan. We are your alternative to banking because you cannot go to the bank and use a personal possession as collateral for a loan. But that is exactly what we do! When you are in need of cash, immediate short term loans without a credit check is what make Pawn King shops unique.
We Buy Your Stuff
We make selling your items simple and hassle-free. You may not realize how much money you can raise by selling your items or getting a loan using things you utilize every day. Selling your items to our pawn shops is a better option than having a yard or garage sale; you can get more cash without the trouble of selling your items for hours.
With many years of industry expertise in the diamond and estate jewelry trade, our loan specialists are recognized for their higher cash loans on previously-owned diamond jewelry and high-brand watches. Bring your items to our knowledgeable staff to be valued. If you are happy with the price, we pay you cash for your gold on the spot! It's as simple as thatÖ
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