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How to Use a Pawnshop to Raise Money


1. Do you need a quick, short-term loan? Do you have several pieces of jewelry or tools that other people might value? Here's how to cash in on the "equity" you've got when you're in a pinch. Pawnshops are run by pawnbrokers who make loans using a customer's personal property as collateral. 

2. Decide how much money you need to raise. By having a dollar amount in mind, it helps the pawnbroker get you the amount you need.

3. Test and clean the item. Looking around the garage and picking up something that hasn't been used for years and is covered in dust or grease will only make the pawnbroker's job more difficult. If it looks like you don't care about or value the item, the pawnbroker certainly won't place much value on it, either.

4. Call the pawnbroker to be sure it is an item he is interested in taking. Some pawnbrokers no longer take guns, VHS tapes, VCRs or car stereos.

5. Make sure the item is complete. TVs without remote controls, tool sets missing pieces, video cameras without cords and chargers are far less valuable than complete items.

6. Have adequate ID. No reputable pawnbroker will accept an item without proper identification.

7. Ask about the terms and conditions, and the contract period for holding the goods.

8. Negotiate the price. The pawnbroker has to take in items cheaply so they can turn around and sell them at a bargain price and still make money. Sometimes the amount offered can be boosted a little, particularly if the item is easy to resell. Saying to the pawnbroker, "I need to get as much as I can," is not very helpful. It is better to say, "I need $44.53 to cover my utility bill."

9. Keep your pawn ticket. Some pawnbrokers charge a fee for lost tickets.

10. Mark the due date on the calendar.

11. Pick your item up well before the due date. Don't wait until the last minute to redeem items you cherish. Invariably, things happen at the last minute that may cause you to lose your items. Traffic, job responsibilities, illness, transportation problems, any unforeseen difficulty may cause you to be late. The pawnbroker has to sell items that are not redeemed on time.



1. If you have an unusual item or collectible, it may be helpful to have a manual and maybe something that would indicate its value. A print out from an Ebay sale, appraisal, or even a sales catalog would be helpful.

2. Establish a relationship with a pawnbroker. If he knows you take care of your property, pick up your loans on time, and are generally in a good mood, he may be more generous with his loans. If you take him broken, dirty items, fake jewelry, and try to hurry him, he will not see you as a valuable customer. The pawnbroker has to test everything that comes into his shop. Pawnshops are not repair shops and broken items have little or no value.

3. Pawnbrokers have to consider that you may not come back to get the item. You may leave town, win the lottery, have other obligations and will default (don't pay on time)on the item. This uncertainty forces him to hold down the amount he loans on items in the event he has to resell it to recoup his investment. Most people return to redeem their pawned items, but if you look around his store, you will see that most of the things he has for sale are things people promised to come back to redeem but failed to do so.

4. Sometimes if you are unable to redeem the item by the due date, you may be able to extend the loan by paying the interest.

5. Even if you default on something, it is still OK to do business with that pawnbroker.

6. Keep in mind: pawnshops are often a great place to pick up bargains on unredeemed goods. If you don't mind used jewelry, video games and movies, it is hard to beat the prices at pawnshops.


Things You'll Need

  • Proper identification

  • Good attitude

  • Personal property with resale value.

We are here to help with all your pawn shop needs, one call lets us take care of the rest. Please look through our site to get the information you need about the services we provide. If you have any questions or concerns, please don’t hesitate to contact us at any time.

We look forward to hearing from you soon.

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