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Tuesday, May 21 2024
Selling vs. Pawning: A Guide for 2024


If you have a valuable item in your home and need cash, you may turn to a pawn shop to relieve your financial difficulties. Pawn shops offer two options to help you get out of a cash crunch- selling and pawning. Read on to learn what’s involved in each process.

Selling Your Item to a Pawn Shop

Selling is a straightforward process. Simply bring your item into the pawn shop. The salesperson will assess it and make you an offer. If you are happy with the offer, you can leave with cash in hand. The shop will keep the item and sell it to an interested party.

Pawning Your Item

Pawning is a loan process that allows you to get cash for your item without saying goodbye to it forever. Here’s how it works.

1.    Bring in your item. The salesperson will assess it and offer a loan equal to a percentage of the item’s value.

2.    If you are happy with the offer, you may accept the loan. You will then begin making monthly payments to pay off the loan plus interest.

3.    Once the loan is paid off, you will get your item back. If you cannot repay your loan, the pawn shop will keep your item, but the unpaid amount will not go into collections or damage your credit.

Getting Prepared for the Selling or Pawning Process

·  Research Your Item’s Value: Search relevant resources and seller sites to determine what your item is worth. Doing so will let you know if you are getting a fair offer on your item.

·  Clean Your Item: Your item’s condition will factor into the offer you receive. If your item is in good condition, you will get a better offer. Clean your item and make small repairs to ensure the highest possible valuation.

·  Research Local Pawn Shops: Research pawn shops in your area to determine which ones offer fair pricing and have a reputation for serving their communities. If you plan to pawn your item, find out about their loan terms.

·  Prove Your Item’s Authenticity, If Possible: If you are bringing in a designer item, bring certificates and other documents that prove its authenticity. Original receipts can also be helpful.

Should I Pawn or Sell My Item?

There are various factors to consider when deciding to pawn or sell your item. For example, if you don’t want to part with your item because it has sentimental value, pawning may be your best option. However, pawning also means you will have to pay off your loan with interest to get your item back.

Cash Express is Your Philadelphia Destination for Pawning or Selling

Cash Express can help you pawn or sell your item. We offer fair pricing, reasonable loan terms, and friendly service. We buy and sell various items to provide a wide selection for the community.

Contact us to learn more about our pawning and selling process. We will help you get through your financial rut.

Posted by: AT 06:25 pm   |  Permalink   |  Email

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Cash Express  • Philadelphia Pawn Shop

731 Chestnut St. Philadelphia, PA 19106 -  (215) 922-1560