Pawning vs. Selling at a Los Angeles Pawn Shop

Pawn Loans

If you are in need of quick cash and have a valuable item you can do without at the moment, then pawning or selling the item at a Los Angeles pawn shop might be a good way to get the money you need quickly and easily. Most people are well aware of the existence of pawn shops, but not everyone knows how pawning actually works.

The Difference between Pawning and Selling

You can sell a valuable item to a pawn shop just as you can sell it to anyone else. When you come to us with the item you wish to sell, we will examine it in a timely manner and give you a completely free and fair appraisal. If you do not believe that the offered price is acceptable, you don’t lose anything, because the appraisal is free. If you decide to sell, we give you the money, and you give us the valuable. From that moment, you no longer own the item, and there is no any further obligation of us to you, or the other way round.

Pawning is a bit different. Essentially, it is a secured loan, with a valuable item serving as collateral, and we are acting as a lender in this case. In order to pawn a valuable, you don’t need to have a good credit score, and your credit score will not suffer if you fail to repay the loan on time. After you come to our pawn shop with the valuable, we perform a free evaluation and tell you how much money we are able to loan, and at what interest rate. We also inform you about all the other terms, such as when you need to repay the loan in order to get your item back. And that is exactly one of the key differences between pawning and selling – when pawning a valuable, you retain the possession of it, unless you fail to repay the loan on time. If you do not repay the loan until the agreed date, you lose the possession of the item; if you repay the loan as agreed, you take your valuable back.

What to Choose – Pawn or Sell your Valued Items

Each situation is unique, and it is hard to give some general advice. Usually, if you decide to sell an item, we will give you more money than we would give you for pawning it. So, if you need as much money as possible, you might want to sell. Furthermore, you don’t pay any interest when selling a valuable. You sell it to a Los Angeles pawn shop and you never have to worry about re paying a loan.

On the other hand, if you don’t need that much money, pawning might be better choice, as you will get your valuable back if you repay the loan as agreed. For the same reason, pawning is also preferred in case the item has great sentimental value to you.

What You Can Sell or Pawn at our Pawn Shop

At our pawn shop, you can pawn or sell almost anything of value. For example, we accept designer watches, such as Breitling, Rolex, IWC, and so on. You can also sell or pawn your jewelry. Some of the brands we work with include Harry Winston, David Yurman, Chanel, etc. Our clients also often pawn or sell valuable music instruments, including Fender, Martin, and Gibson, among others. This is only a sample of what we accept – so please browse our website or contact us to learn more about our Los Angeles pawn shop.