Frequently Asked Questions About Pawn Shops
Florida Pawn has been helping residents of Hollywood and Margate, Fl with buying, selling, and pawning their items since 2010. We offer the highest price around guaranteed for gold, silver, jewelry, cars, motorcycles, boats, electronics, and more! Our experienced staff will help you by examining the items and then researching the going rates based on current prices to offer you an estimate to get you cold hard cash quickly. They will also help by explaining the reasoning behind your estimate and answer any questions you may have regarding the amount offered. They will go over the current gold and silver spot price, explain the number of carats in your precious stone, and why your car was valued based on its years and miles. Florida Pawn is the number one place to buy, sell, and pawn your items in Hollywood and Margate, FL.
What is a pawn loan?
Pawn loans are a quick and easy way to borrow money without a credit check or hassle. Loans are based on the value of your collateral, not your credit rating or pay schedule. A typical pawn loan has a term length of 30 days, plus a 30-day grace period. If you cannot pay your loan back in full, we offer extensions to give you extra time. You may also choose to surrender your collateral as payment in full.
What is an extension/renewal?
If you are unable to pay back your loan in full on its due date, you may get a renewal or extension, meaning that you pay the interest that has accrued on your loan in full and the new due date is set. The principal loan amount remains the same, as does the interest rate. If you’d like, when you pay the interest, you can pay additional money down on the principal. This will allow you to renew the loan for a lesser amount. You may extend the length of your loan as many times as you wish.
Will I lose my goods?
Most of our customers repay their pawn loans and pick up their items. If a customer chooses not to repay the loan, the collateral items are forfeited and are accepted as payment in full. Some customers though choose to sell their unwanted items rather than get a loan.
How do you determine how much an item is worth?
The loan amount is based on the current value of your item. Item’s condition, market value, and our ability to resell the item all play a role in determining the price. Our highly trained associates will use all research tools at hand to evaluate the item’s value and get you the cash you need or the most they can.
We also test all items for their performance. General merchandise is visually inspected and then tested by plugging it in and turning it on. Accessories such as remote controls and original cables all add to the value of an item.
Can you pawn the same item twice?
Absolutely! Pawning the same item twice actually saves time because we know the item since we have accepted it before to help get you money in tight situations. We will review to make sure that everything is still working with it if it is an electronic device, but you will be saving us time by using the same item twice for a pawn.
Do you get more money when you pawn or sell?
This all depends on the item. It may help to understand the difference between selling and pawning your item. Once you bring it to Florida Pawn, our experienced professionals will inspect it and place a value with it. If you sell it you will take the cash, walk away, and the item(s) will be ours to resell. If you wish to pawn it for money, you will have to accept the terms and conditions, and we will get you the cash with the expectation that you will make the payments and collect the item(s) when finished. Should you decide not to make the payments, we will then keep the collateral for reselling purposes.
Visit Florida Pawn in Hollywood or Margate
Whether you need to pawn or sell your items, Florida Pawn is the shop to visit to get the highest amount possible. We deliver cold hard cash for your computers, cars, gold, silver, jewelry, diamonds, boats, and more! You can also visit either our Hollywood or Margate, FL pawn shops to buy these types of items as well. We only purchase the best items so you can be sure that we only carry quality jewelry, electronics, vehicles, and more! We are open 6 days a week for your convenience, and with no credit check required, you can get these loans quickly. Everyone gets in a financial pinch, and we want to help you get out of it. Visit us today for assistance!