Frequently asked questions about pawn shops

The Pawnshopper.Com’s Loan Lead Solution
Welcome to The Pawnshopper.Com’s Loan Lead Solution. Here, you can input details of your item that you want to present as collateral to a pawn broker for a pawn loan. The process is quick and simple and provides some valuable information with the privacy and convenience of initiating this process from your home or office. The process works like this:
  1. Input your zip code and mileage radius – start with 15 miles.
  2. Click the brokers that you would like to submit your item to.
  3. Input the Title of your item – Make, Model Number, etc.
  4. Input the Details of your item – As many details as possible as to the condition of your item. Save yourself and the pawn broker time and money by providing the most accurate description possible.
  5. Upload a few photos of your item – You will get better and higher responses with larger and clearer pictures – you are the “eyes” of the pawnbroker.
  6. Click “Submit Loan Item” and you are done.
The pawnbrokers will view your item and response with potential loan amount. Choose which broker you want to proceed with, print the loan sheet, and take your item to the pawn broker to complete your loan transaction. Once complete, please return to our site to provide feedback on your transaction to help ensure the quality of our loan lead process on our site.
History of Pawnshops
Pawnshops and pawnbroking have been around for thousands of years. It is known as mankind’s oldest financial institution. Pawnbroking can be traced back at least 3,000 years to ancient China, and has been found in the earliest written histories of Greek and Roman civilizations. The basic idea behind any pawnshop is to loan people money on anything of value. A typical transaction:
  1. You bring in something you own and give it to the pawnbroker as collateral for a loan (this act is called pawning).
  2. The pawnbroker loans you money against that collateral.
  3. When you repay the loan plus the interest, you get your collateral back.
  4. If you don't repay the loan, the pawnbroker keeps the collateral.
How much will I get? That completely depends on the item, age and condition. The pawn broker will need to loan you an amount that will be a safe percentage below the estimated resale value. In the event that you do not repay the loan, the pawn broker must now sell the item to recoup his money.

How long is the loan? The loan can be for 30 days or as long as you make your monthly payment. You can keep an item in pawn forever as long as you make your monthly payment.

How much do they charge? It depends on the dollar amount of the loan and the state the pawnbroker is conducting business. Typically, a $1,000 loan would be about 15% to 20% per month. This is less than some credit cards with their associated cash advance fees.

Are most items stolen that are for sale in a pawn shop? NO. This industry is a profession that is run by professionals and is a highly regulated industry required by law to report every item that they lend on, or purchase from anyone. Plus, the individual that obtained the loans or sold the item must completely identify themselves with a government approved form of ID. The pawn brokers are required to report each item to the local authorities and to have serial numbers (where applicable) checked against any items reported stolen. Because Pawnbrokers are identified as financial institutions by FINCEN, they are also required to run every name of every consumer lending or selling products in their stores against the SDN, suspected terrorist list daily as maintained by the U.S. Government. Furthermore, the pawn broker must hold each item for 30 to 60 days (depending on what state they are in) just to make sure that the item does not get reported stolen at a later date. Once the item has been held for the proper amount of time or the consumer did not redeem their loan, then the broker can then put the item out for sale. The pawnbroker goes through great lengths and expenses to protect the community from providing an easy outlet for stolen merchandise. As a matter of fact, only about 1/10th of 1% of all merchandise brought into a pawn shop is defined with a property disposition issue. Career criminals tend to lean towards jewelry stores, antique dealers, flea markets, garage sales, classified ads and EBAY to fence stolen property. All of which are widely unregulated and have become commonplace for mass disposal of goods and property with NO recourse.

What can I do to protect myself against theft? The main problem most consumers have is if they are burglarized, most of the population does not know the serial number to their DVD player, TV, Stereo, etc. So, the best way to increase your chances of recovering your items is to do a complete inventory of all of your belongings with the Make, Model and Serial Number of each. You can download a quick and easy form here for your convenience. The other simple step is to REPORT each item that is stolen. Most people assume they will never retrieve it anyway and just don’t report it stolen. If you don’t report the item stolen, the processes in place have no chance of working without the first step being taken – Report It! You may also do a free download and search of your stolen items for free on:

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