If you have never been to a pawn shop, you may not know what to expect. Your experience will vary depending on whether you came to a pawn shop to buy, sell, or get a loan. This article will outline all three scenarios to prepare you for your first visit.

Know What the Pawn Shop Sells

First, you should understand that pawn shops may sell different items. Some pawn shops sell anything of value. Others specialize in tools, electronics, jewelry, designer watches, handbags, or a combination of these goods.

Research so you know what to inventory to expect before you visit the shop. That way, you increase your chances of finding the items you want and successfully selling or getting a loan for the items you’d like to part with.

As a Shopper

A pawn shop sells secondhand goods to the public. Don’t expect them to be in new condition. However, most pawn shops won’t purchase items that are in poor condition either.

Because items are used, they should be available at discount prices. However, that doesn’t mean every pawn shop prices items fairly.

If you have a specific item in mind that you want to purchase, you may want to do some research to determine what prices you can expect to pay. Consider the condition of the items when comparing prices. Used items should not be as expensive as new ones.

Pawn shops are always prepared for a little haggling, so don’t be shy about asking for a better price.

As a Seller

If you have a valuable item you no longer need, you may consider selling it at a pawn shop. Make sure the pawn shop carries similar stock to ensure a sale. Take steps to improve the item’s condition if possible so you can fetch a higher price.

You should also research to find out how much the item is worth before you take it to a pawn shop. This ensures you get a fair deal. If all goes well, you will leave with cash in hand.

As a Borrower

You can also use valuable items to get a pawn shop loan. Follow the steps that you would as a seller. However, there are some extra steps involved.

The money you get for your item is a loan that must be repaid. Once you repay the loan, you will get your item back. If you cannot repay the loan, the pawn shop will keep the item, but the unpaid amount won’t go into collections or impact your credit.

Choose the Best Pawn Shop for Your Needs

Before going into a pawn shop, you should research to find the best locations in your area. Choose a pawn shop that is known for its reasonable prices, fair deals, good loan rates, and excellent customer service.

Cash Express stands out as one of the best pawn shops in Philadelphia. We are backed by years of making customers happy.

Contact us when you are ready to buy, sell, or borrow.