Pawn shops Wheaton are in their prime. The recent recession, a rise in home foreclosures, and increasing silver and gold prices are attracting more upper-class customers who need to sell things or obtain short-term loans. That’s great for the pawn shop, but not so good for a potential customer who’s new to the process. Below are several tips to help customers get the most out of their visit to the pawn shop.
Decide Whether to Sell or Take Out a Loan
Selling an item typically leaves the customer with more money, but pawn shop owners would rather lend money so the customer will give them repeat business. Many pawnbrokers will pay more to those selling their items because they don’t have to hold the items as long as they would with a loan. Items taken as collateral are held for 60 days, while purchased items are sold after 30 days. The delay allows the shop and local police to determine whether an item is stolen.
Read the Loan’s Terms Carefully
Because loan interest is paid on a monthly basis, it can become quite expensive for customers who don’t repay their loans in a timely fashion. Terms may vary, but most pawnbrokers charge between five and 25 percent interest. Customers should carefully read the loan terms before signing the contract.
Offer High-Quality Items
Whether it’s for a loan or a sale, pawn shops only want top-quality items that sell quickly. Tools and jewelry are hot sellers, and many shops offer up to 75% of retail value. Higher-end items like firearms or Rolex watches can fetch up to 85% in some cases. Items that are inexpensive at retail, such as household appliances, aren’t typically worth the effort.
Tell a Good Story
Most retailers care little about customers’ hard-luck stories when they buy things, but these stories can be an advantage at Pawn Shops Wheaton. Pawn shops, especially those focusing on high-end items, determine loan amounts based partly on a customer’s financial and personal situation.
Visiting a pawn shop doesn’t have to be a stressful experience. By following the tips above, customers can make the process easy and hassle-free. Visit RJ Jewelry & Loan Company today to get the highest possible price for many items.
